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What really drove post-pandemic inflation?
Post-COVID pandemic inflation is often blamed on broken supply chains and energy shocks. A new BPEA paper argues that unexpectedly strong demand was the dominant driver of the surge in both the U.S. and the euro area. On this episode of the Brookings Podcast on Economic Activity, Louise Sheiner talks to the paper's authors, Domenico Giannone of Johns Hopkins University and Giorgio Primiceri of Northwestern University, about what drove the surge and what it means for policy.
Show notes and transcript
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