The Physical Capacity Shortage View of Inflation
Repeated price crashes in a variety of industries led to a situation of underinvestment in productive capacity that created the conditions for the inflation we see today.
Inflation
20 postsImporting Constraints: Durable Goods Inflation In Context
If we are trying to describe the nature of the real constraints that the economy has been facing over the past 6-12 months, we need a richer economic vocabulary than one that reduces every inflationary constraint to a domestic labor constraint.
Beware of Russian Shut-Ins: Why The Trajectory Of Global Oil Supply Remains Fragile
This is meant to be a quick "micropost" and may be light on linking & original charts I was recently quoted saying that oil prices surging past $150...
The SPR Release Is Good - But The Administration Needs To Do More
The recently-announced SPR release is the first step in a broader program to address oil price volatility in today's geopolitical environment.
Microeconomics? In My Inflation Analysis? It's More Likely Than You Think
Many economists and commentators disfavor reasoning about inflation from individual price increases, yet still use "core inflation" metrics, which embed reasoning about inflation from individual price increases.
