A Vacant Metric: Why Job Openings Are So Unreliable
The Federal Reserve has given job vacancy data center stage in assessing the strength of the labor market. The theoretical and empirical issues with vacancies data show that this is a mistake.
Preston Mui
154 postsCars, Reopening, & Housing Drove American Inflation While Natural Gas Heated European Inflation: Disaggregating Differences in US-Europe Inflation
When we disaggregate the aggregate inflation statistics, we find that the sources of high inflation in the US and Europe are different.
Proceed With Caution! Comparing Inflation Across Countries is Complicated
In this first piece of a series, we’re going to walk through an overview of the ways inflation statistics can diverge between countries and demonstrate just how difficult it is to establish apples-to-apples comparisons between aggregate inflation measures in different countries.
Inflation Expectations: Three Stories in Search of Evidence
Despite widespread use by commentators and policymakers, the models commonly used to argue for the importance of "inflation expectations" are difficult to confirm empirically, and risk a hawkish policy bias.
