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More Households Face Food Scarcity during COVID-19
More U.S. households are reporting that they sometimes or often do not have enough food, according to a new Census survey.
Journal Article
Regional Gasoline Price Dynamics
A large literature has argued that gasoline prices respond more rapidly to increases in oil prices than to decreases in oil prices. Moreover, some of this literature has found heterogeneous asymmetry in gas price responses across cities. Here, we reconsider the causes of heterogeneous asymmetric pass-through. Consistent with the previous literature, we find heterogeneity in the magnitudes of asymmetric pass-through across cities. We also find a large number of cities that exhibit no asymmetries. We then examine whether heterogeneous asymmetry results from city-level differences in (i) the ...
Journal Article
The Value of $600 Across States Hit Hardest by COVID-19
The CARES act provides an extra $600 per week in unemployment benefits, but the purchasing power of those dollars varies across states, raising the question of whether the equal distribution of $600 across states is an equitable distribution.
The Hidden Economics Lessons in Your Favorite Songs about Money
Can Ariana Grande, Johnny Cash and the Barenaked Ladies teach you about markets, currency and finance? Indeed.
Journal Article
Will Workers Want To Be Laid Off?
The short-term income benefits from expanded unemployment insurance are unlikely to outweigh the long-term benefits of working.
Journal Article
Same Target, Different Economies: A Cross-Country Analysis of Inflation
Though some countries adopt a common inflation target, nations often have different patterns of inflation.
Journal Article
Decomposing the Low PCE Inflation Rate
The current low PCE inflation rate can largely be attributed to energy, health care, and housing.
Pension or 401(k)? Retirement Plan Trends in the U.S. Workplace
An analysis describes the declining prevalence of defined-benefit pensions in favor of defined-contribution retirement plans in the U.S. workplace over time.
Journal Article
The Large Gap in Stock Market Participation Between Black and White Households
White households participate in the stock market far more than Black households, contributing to the large wealth gap between them.
What Do Financial Markets Say about Future Inflation?
Though U.S. inflation has been unexpectedly high in the past year, inflation swap data indicate that longer-term inflation expectations remain relatively steady.