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 …

This paper develops a unified framework to synthesize the growing stream of positive
research on the role of individual decision makers in shaping observed accounting …

Households' and firms' subjective inflation expectations play a central role in
macroeconomic and intertemporal microeconomic models. We discuss how subjective …

We study how the differential timing of local lockdowns due to COVID-19 causally affects
households' spending and macroeconomic expectations at the local level using several …

We use a repeated large-scale survey of households in the Nielsen Homescan panel to
characterize how labor markets are being affected by the covid-19 pandemic. We document …

Abstract The Federal Reserve cut interest rates on March 3, 2020, in response to COVID-19.
On March 5 and 6, I surveyed over 500 consumers about their concerns about COVID-19 …

We study how different forms of communication influence inflation expectations in a
randomized controlled trial using nearly 20,000 US individuals. We elicit individuals' inflation …

We provide evidence on narratives about the macroeconomy—the stories people tell to
explain macroeconomic phenomena—in the context of a historic surge in inflation. We …

Personal experiences of economic outcomes, from global financial crises to individual-level
job losses, can shape individual beliefs, risk attitudes, and choices for years to come. A …

We use randomized treatments that provide different types of information about the first
and/or second moments of future economic growth to generate exogenous changes in the …