Maritta Paloviita on medium-term inflation expectations

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How responsive are consumers' medium-term inflation views to changes in short-term inflation expectations?

Publishing in Finance Journals

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Front Matter

Journal of Economic Perspectives, Winter 2023

Landings, Soft and Hard: The Federal Reserve, 1965–2022

[Symposium: Monetary Policy]

By Alan S. Blinder

Journal of Economic Perspectives, Winter 2023

"Soft landings," that is, cases in which the central bank tightens monetary policy to fight inflation but does not cause a recession (which would be a "hard landing"), are thought to be difficult to achieve and extremely rare. According to the conventiona...

Monetary Policy and Inequality

[Symposium: Monetary Policy]

By Alisdair McKay and Christian K. Wolf

Journal of Economic Perspectives, Winter 2023

We ask three questions about the connection between monetary policy and inequality. First, does monetary policy affect inequality? While different households respond to changes in monetary policy for different reasons, we argue that the overall consumpt...

Unraveling the Hispanic Health Paradox

[Symposium: Hispanic Americans]

By José Fernandez, Mónica García-Pérez, and Sandra Orozco-Aleman

Journal of Economic Perspectives, Winter 2023

In 2019, Hispanics in the US had a life expectancy advantage of 3.0 years and 7.1 years over non-Hispanic Whites and non-Hispanic Blacks, respectively, despite having real-household income values 26 percentage points lower than Non-Hispanic White househ...

Hispanic Americans in the Labor Market: Patterns over Time and across Generations

[Symposium: Hispanic Americans]

By Francisca M. Antman, Brian Duncan, and Stephen J. Trejo

Journal of Economic Perspectives, Winter 2023

This article reviews evidence on the labor market performance of Hispanics in the United States, with a particular focus on the US-born segment of this population. After discussing critical issues that arise in the US data sources commonly used to study...

US Immigration from Latin America in Historical Perspective

[Symposium: Hispanic Americans]

By Gordon Hanson, Pia Orrenius, and Madeline Zavodny

Journal of Economic Perspectives, Winter 2023

The share of US residents who were born in Latin America and the Caribbean plateaued recently, after a half century of rapid growth. Our review of the evidence on the US immigration wave from the region suggests that it bears many similarities to the majo...

Oleg Itskhoki: 2022 John Bates Clark Medalist

By Andrew Atkeson and Gita Gopinath

Journal of Economic Perspectives, Winter 2023

The 2022 John Bates Clark Medal of the American Economic Association was awarded to Oleg Itskhoki, Professor of Economics at the University of California, Los Angeles for his path breaking contributions in international economics. This article summarizes ...

Recommendations for Further Reading

By Timothy Taylor

Journal of Economic Perspectives, Winter 2023

Economic Sanctions: Evolution, Consequences, and Challenges

[Symposium: Trade Sanctions and International Relations]

By T. Clifton Morgan, Constantinos Syropoulos, and Yoto V. Yotov

Journal of Economic Perspectives, Winter 2023

Taking an interdisciplinary perspective, we examine the evolution of economic sanctions in the post-World War II era and reflect on the lessons that could be drawn from their features and patterns of use. We observe that, during this time, there has been ...

Financial Sanctions, SWIFT, and the Architecture of the International Payment System

[Symposium: Trade Sanctions and International Relations]

By Marco Cipriani, Linda S. Goldberg, and Gabriele La Spada

Journal of Economic Perspectives, Winter 2023

Financial sanctions, alongside economic sanctions, are components of the toolkit used by governments as part of international diplomacy. The use of sanctions, especially financial, has increased over the last 70 years. Financial sanctions have been part...

Monetary Policy When the Central Bank Shapes Financial-Market Sentiment

[Symposium: Monetary Policy]

By Anil K Kashyap and Jeremy C. Stein

Journal of Economic Perspectives, Winter 2023

Recent research has found that monetary policy works in part by influencing the risk premiums on both traded financial-market securities and intermediated loans. Research has also shown that when risk premiums are compressed, there is an increased likelih...

Risk Appetite and the Risk-Taking Channel of Monetary Policy

[Symposium: Monetary Policy]

By Michael D. Bauer, Ben S. Bernanke, and Eric Milstein

Journal of Economic Perspectives, Winter 2023

Monetary policy affects financial markets and the broader economy in part by changing the risk appetite of investors. This article provides new evidence for this so-called risk-taking channel of monetary policy by revisiting and extending event-study an...

CSWEP Board: Gina Pieters

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Falling wages and discretionary pay-setting practices

[Research Highlight]

February 06, 2023

A decline in the use of standardized pay rates contributed to stagnating wages from the 1970s to the mid-1990s.

Wage Stagnation and the Decline of Standardized Pay Rates, 1974–1991

By Maxim Massenkoff ⓡ Nathan Wilmers

American Economic Journal: Applied Economics, January 2023

Using new establishment-by-occupation microdata, we show that the use of discretionary wage setting significantly expanded in the 1970s and 1980s. Increasingly, wages for blue-collar workers were not standardized by job title or seniority but instead subj...

CSMGEP: Rodney Andrews

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CSMGEP: Monica Garcia-Perez

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CSMGEP: Mary Lopez

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