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Research Articles

Fiscal Stimulus Caused Only 1% of the 8% Rise in U.S. Inflation

Further Reading

  • ARP ACT. 2021. “The American Rescue Plan Act.” Described by Wikipedia and the many sources cited by Wikipedia.
  • Ball, Laurence, Daniel Leigh, and Prachi Mishra. 2023. Brookings Papers on Economic Activity, Fall 2022.
  • Blanchard, Olivier. 2021. “In Defense of Concerns over the $1.9 Trillion Relief Plan.” Peterson Institute for International Economics, February 18.
  • Blinder, Alan. 1982. “The Anatomy of Double-Digit Inflation in the 1970s.” In Inflation: Causes and Effects, edited by Robert E. Hall. Chicago, IL: University of Chicago Press.
  • CARES ACT. 2020. “The Coronavirus Aid, Relief, and Economic Security Act.” Described by Wikipedia and the many sources cited by Wikipedia.
  • CBO (Congressional Budget Office). 2018–2023. The Budget and Economic Outlook. Annual Issue in February and an Update Each Summer from 2018 through 2023.
  • CBO. 2021. An Overview of the Economic Outlook 2021 to 2031.
  • CRR ACT. 2020. “The Covid Response and Relief Act.” Described by Wikipedia.
  • Economist. 2018–2023. Economic and Financial Indicators Page from each weekly issue from 2018 to 2023.
  • Eurostat. 2023. “Labour Cost Index Recent Trends.” https://ec.europa.eu/eurostat/statistics-explained/index.php?title=Labour_cost_index_recent trends.
  • Goodman, Peter S. 2021. “How the Supply Chain Broke, and Why It Won’t Be Fixed Anytime Soon.” New York Times, October 22.
  • Herron, James, Grant Smith, Kevin Crowley, and Laura Hurst. 2022. “Oil’s Spectacular Covid Crash Set the World up for $100 Crude.” Bloomberg, February 16.
  • Krauss, Clifford, and Peter Eavis. 2021. “Energy Prices Spike as Producers Worry over Pandemic and Climate.” New York Times, October 4, Updated November 4.
  • Madrick, Jeffrey. 2014. Seven Bad Ideas: How Mainstream Economists Have Damaged America and the World. New York: Alfred A. Knopf.
  • Moody’s Analytics. 2022. Global Fiscal Policy in the Pandemic. February 24.
  • Santacreu, Ana Maria, and Jesse LaBelle. 2022. “Global Supply Chain Disruptions and Inflation during the COVID-19 Pandemic.” Federal Reserve Bank of St. Louis Review 102 (2):78–91. https://doi.org/10.20955/es.2022.2
  • Stiglitz, Joseph, and Ira Regmi. 2022. “The Causes of and Responses to Today’s Inflation.” The Roosevelt Institute, December.
  • Summers, Lawrence. 2021. “Biden’s Covid Stimulus Plan is Big and Bold but Has Risks Too.” Washington Post op ed., February 4.
  • U.S. Bureau of Labor Statistics. 2023a. “2019 CPI Inflation Rate for the U.S.” https://www.bls.gov/opub/ted/2020/consumer-price-index-2019-in-review.htm.
  • U.S. Bureau of Labor Statistics. 2023b. “2018 CPI Inflation Rate for the U.S.” https://www.bls.gov/opub/ted/2019/consumer-price-index-2018-in-review.htm.
  • U.S. Bureau of Labor Statistics. 2023c. “Employment Cost Index June 2023, Chart 2, Twelve Month Percentage Change Wages and Salaries, 2018–2023.” https://www.bls.gov/news.release/pdf/eci.pdf.
  • U.S. Energy Information Administration. 2023. “Petroleum & Other Liquids.” Weekly Cushing, OK WTI Spot Price FOB, 2020 to 2023.

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