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Pandemic Inflation: What Labour-Force Participation Revealed

What did the first two quarters of 2020 reveal about the apparent unemployment gap during the pandemic shock?

Difficulty: Medium

What is the participation gap intended to capture in analysing pandemic labour-market slack?

Difficulty: Easy

According to the article's estimate, how much higher would inflation have been absent the pandemic-related participation decline?

Difficulty: Hard

Why did the unemployment-only Phillips curve give a misleading reading of inflation pressure during the pandemic?

Difficulty: Medium

How does an augmented Phillips curve differ from an unemployment-only Phillips curve in this context?

Difficulty: Hard

Academic Library

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