量化供给约束下财政刺激的通胀影响

AEA papers and proceedings. American Economic Association Pub Date : 2023-05-01 DOI:10.1257/pandp.20231028

Julian di Giovanni, Şebnem Kalemli-Özcan, Alvaro Silva, Muhammed A. Yıldırım

{"title":"量化供给约束下财政刺激的通胀影响","authors":"Julian di Giovanni, Şebnem Kalemli-Özcan, Alvaro Silva, Muhammed A. Yıldırım","doi":"10.1257/pandp.20231028","DOIUrl":null,"url":null,"abstract":"This paper builds on Baqaee and Farhi (2022) and di Giovanni et al. (2022) to quantify the contribution of fiscal policy on US inflation over the December 2019 to June 2022 period. Model calibrations show that aggregate demand shocks explain roughly two-thirds of total model-based inflation and that the fiscal stimulus contributed half or more of the total aggregate demand effect.","PeriodicalId":72114,"journal":{"name":"AEA papers and proceedings. American Economic Association","volume":"77 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"2","resultStr":"{\"title\":\"Quantifying the Inflationary Impact of Fiscal Stimulus under Supply Constraints\",\"authors\":\"Julian di Giovanni, Şebnem Kalemli-Özcan, Alvaro Silva, Muhammed A. Yıldırım\",\"doi\":\"10.1257/pandp.20231028\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"This paper builds on Baqaee and Farhi (2022) and di Giovanni et al. (2022) to quantify the contribution of fiscal policy on US inflation over the December 2019 to June 2022 period. Model calibrations show that aggregate demand shocks explain roughly two-thirds of total model-based inflation and that the fiscal stimulus contributed half or more of the total aggregate demand effect.\",\"PeriodicalId\":72114,\"journal\":{\"name\":\"AEA papers and proceedings. American Economic Association\",\"volume\":\"77 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2023-05-01\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"2\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"AEA papers and proceedings. American Economic Association\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.1257/pandp.20231028\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"AEA papers and proceedings. American Economic Association","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1257/pandp.20231028","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}

引用次数: 2

摘要

本文以Baqaee和Farhi(2022)以及di Giovanni等人(2022)为基础，量化了2019年12月至2022年6月期间财政政策对美国通胀的贡献。模型校准表明，总需求冲击解释了大约三分之二的基于模型的总通胀，财政刺激贡献了总总需求效应的一半或更多。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

查看原文本刊更多论文

Quantifying the Inflationary Impact of Fiscal Stimulus under Supply Constraints

This paper builds on Baqaee and Farhi (2022) and di Giovanni et al. (2022) to quantify the contribution of fiscal policy on US inflation over the December 2019 to June 2022 period. Model calibrations show that aggregate demand shocks explain roughly two-thirds of total model-based inflation and that the fiscal stimulus contributed half or more of the total aggregate demand effect.

求助全文

通过发布文献求助，成功后即可免费获取论文全文。去求助

来源期刊

AEA papers and proceedings. American Economic Association

自引率

0.00%

发文量