We show in a #new#paper how to estimate the misallocation #costs associated with different #inflation#rates directly from micro price data.
👉Cool feature: it works without having to commit to specific pricing models & with lots of (unobserved) product heterogeneity!
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Scoop: Chris Phelan, an adviser at the Federal Reserve Bank of Minneapolis, is the frontrunner to be tapped as President Donald Trump’s new chief economist, sources tell me and @meganmesserly
https://t.co/uXqqrHbtjf
Great appointment. Congratulation to @HyunSongShin and the Bank of Korea BIS economist Shin Hyun-song named Bank of Korea governor | Reuters https://t.co/d564haHOM3