Covid stimulus did not trigger US inflation surge – NBER study
Working paper says QE and fiscal stimulus had minimal impact on price rises
Monetary and fiscal stimulus policies implemented by the US authorities during Covid did not lead to the subsequent surge in inflation, a paper from the National Bureau of Economic Research (NBER) concludes.
The working paper examines whether quantitative easing by the Federal Reserve and fiscal stimulus measures from the US Treasury led to soaring inflation.
The researchers adopt three empirical strategies: studies of the changes in market prices around announcements of policy; vector
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