Inflation still lies somewhat above the Federal Reserve’s 2% goal after slowing significantly since its spring 2022 peak.

This paper reviews how productivity has evolved around the world since the pandemic began in 2020. Productivity in many countries has been volatile. We conclude that the broad contours of productivity ...

U.S. labor productivity initially surged in 2020 during the COVID-19 pandemic, despite the massive economic upheaval. As the economy recovered, the level of productivity retreated to its slow ...

The Phillips curve plays a central role in the macroeconomics literature. However, there is little consensus on the forcing variable that drives inflation in the model, i.e., on the appropriate ...

Inflation still lies somewhat above the Federal Reserve’s 2% goal after slowing significantly since its spring 2022 peak. Analysis shows that two labor market indicators—the ratios of job vacancies to ...

We examine the impact of systematic media reporting on household inflation expectations, focusing on how selective news coverage influences household responses to inflation news. In a model where ...

Watch our Economic Letter video with Adam Shapiro, Vice President, Economic Research, to learn more about our measurements of ...

An open economy structural vector autoregressive (SVAR) model is developed for Belize with the objective of identifying the main factors behind the volatility in output growth. A MarkovSwitching VAR ...

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In episode four of our series Financial Inclusion & Beyond, we spoke with José Quiñonez, the founding chief executive officer of Mission Asset Fund (MAF) and a visiting professor at UC Berkeley, ...