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Cool session on inflation!

I will be here tomorrow! Alongside a fantastic lineup of papers

Do Treasury yields respond to fiscal news? Yes they do! Presenting our work 'Can Treasury Markets Add and Subtract?' joint with Howard Kung and Roberto Gomez-Cram on Sunday at AEA in a session on New Evidence on Inflation Dynamics, organized by J. Hazell. related 🧵

Brilliant thread by Hanno on the US fiscal position 👇

Congrats to Tyler Muir on winning the 2025 Fischer-Black Prize!!

Two (or three) graphs that should keep you up at night if you subscribe to the supply-shock view of COVID-19 pandemic inflation. Exhibit 1: from Francesco Bianchi and Robert Barro's new paper "FISCAL INFLUENCES ON INFLATION IN OECD COUNTRIES, 2020-2023". The vertical axis has

Just posted a new textbook chapter on “Money and Banking.” Covers bank runs, panics, banking regulation, lender of last resort, payment systems, paper money, ledger-based money, fractional reserve banking, bills of exchange, free banking, and more! eml.berkeley.edu/~jsteinsson/te…

Great article by Matt Grossman discussing costs of inflation, including some of our research! w/ Chen Lian Joao Guerreiro and Christina Patterson

New CEPR Discussion Paper - DP19928 Do Deficits Cause #Inflation? A High Frequency Narrative Approach Jonathon Hazell Joe Hazell LSE LSE Department of Economics, Stephan Hobler LSE ow.ly/RsRl50UWKPX #CEPR_MEF #CEPR_MG #EconTwitter

Yeah!! Congratulations to Chen and the other recipients.

Exciting Central Bank Research Association webinar this Thursday at 11am ET, featuring: "Leaning against inflation experiences” by Stefan Nagel and "Do Deficits Cause Inflation? A High Frequency Narrative Approach" by Joe Hazell. Moderator: Hugh Montag Register here: us06web.zoom.us/webinar/regist…

Great thread on the sources of the UK productivity slowdown - gaps in investment, especially in IT, energy, and health seem important. Another sign that “housing theory of everything” is not the full story cc Joe Hazell Skanda Amarnath

Important discussion of the missing intercept problem. Ben Moll has excellent slides on the topic: benjaminmoll.com/wp-content/upl… This is why looking at time-series variation, although harder to identify, is useful!

The narrative linking Japan’s stagnation since 1991 to its financial crisis is largely a myth, more recently discussed in this episode of Dwarkesh Podcast. Japan’s growth performance is almost entirely explained by poor demographics. See Table 1 of my paper with Gustavo Ventura

🚨New paper that provides comprehensive, macro-historical empirical support for the conflict view of inflation. Paper: users.ox.ac.uk/~econ0628/Meas…