Does inflation vary across the income distribution? This article reviews the growing literature
on inflation inequality, describing recent advances and opportunities for further research in …

We review the recent literature on rational inattention, identify the main theoretical
mechanisms, and explain how it helps us understand a variety of phenomena across fields …

We estimate the slope of the Phillips curve in the cross section of US states using newly
constructed state-level price indices for nontradeable goods back to 1978. Our estimates …

This paper uses surveys to document CFO perspectives on corporate planning, investment,
capital structure, payout, and shareholder versus stakeholder focus. Comparing policy …

After decades of supporting free trade, in 2018 the United States raised import tariffs and
major trade partners retaliated. We analyze the short-run impact of this return to …

The reversal interest rate is the rate at which accommodative monetary policy reverses and
becomes contractionary for lending. We theoretically demonstrate its existence in a …

We show that most US food, drugstore, and mass-merchandise chains charge nearly
uniform prices across stores, despite wide variation in consumer demographics and …

This paper discusses empirical approaches macroeconomists use to answer questions like:
What does monetary policy do? How large are the effects of fiscal stimulus? What caused …

We use microdata collected at the border and the store to characterize the price impact of
recent US trade policy on importers, exporters, and consumers. At the border, import tariff …

Consumers rely on the price changes of goods in their grocery bundles when forming
expectations about aggregate inflation. We use micro data that uniquely match individual …