Measurement errors and missing inflation persistence before World War I
Economic historians widely acknowledge that historical price data are measured with error. This column collects pre-WWI inflation data from 15 countries and uses instrumental variables
On the fragility of the nonlinear Phillips curve interpretation of recent inflation
The inflationary episode from 2021 to 2023 reignited the debate on the nonlinearity of the Phillips curve. Aggregate and city-level data indicate a non-linear relationship,
Homeowners care about inflation, renters less so
Consumers have vastly different views about inflation – shaped by personal experience, financial literacy, and exposure to economic news. This column examines how consumers’ housing
