🚨However, only a small part of the surge in global energy and food prices was due to exogenous (supply-driven) shocks.
As a result, exogenous shocks—like the Russian invasion of Ukraine—had also only a modest effect on overall inflation. 👇

A first key finding: the average historical pass-through of energy and food commodity costs can almost fully account for the post-pandemic rise and fall of energy, food, and core CPI inflation in the US and euro area. 👇

🧵 New paper: “Understanding Post-Pandemic Inflation Fluctuations: The Commodity Cost Channel”

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Nieuwe cijfers Nationale Bank over inkomensongelijkheid zijn super interessant.
Wat ik niet begrijp: "social benefits received" (zou health care en education zijn) voor top-1% inkomens bedragen €100.000 per jaar... Waarom is dat zoveel hoger i.v.m. top-10% inkomens?

🚨 New Paper Alert! 🚨

𝗘𝘀𝘁𝗶𝗺𝗮𝘁𝗶𝗻𝗴 𝘁𝗵𝗲 𝗠𝗮𝗰𝗿𝗼𝗲𝗰𝗼𝗻𝗼𝗺𝗶𝗰 𝗘𝗳𝗳𝗲𝗰𝘁𝘀 𝗼𝗳 𝗢𝗶𝗹 𝗦𝘂𝗽𝗽𝗹𝘆 𝗡𝗲𝘄𝘀

While the main contribution is methodological, an intriguing takeaway for a broader audience is the ability to predict oil price changes—especially around OPEC announcements

Full version: users.ugent.be/~gpeersma/ge...