inflation
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Fiscal policy after 2020
The pandemic packages, the inflation that followed, interest bills rising on high debt, and the questions the decade leaves open for r minus g, rules and central bank independence.
The 2021–2023 test
What drove the inflation surge, whether the anchor held, what the fast disinflation showed, how the frameworks changed, and an exercise on expectations data.
The Phillips curve
The New Keynesian Phillips curve, why the curve looked flat for twenty years, the state-level evidence, and the nonlinearity that returned in 2021.