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An Analysis Of Demand-Pull Inflation In The United States Post-Pandemic, Isabella A. Moynihan
An Analysis Of Demand-Pull Inflation In The United States Post-Pandemic, Isabella A. Moynihan
Honors Theses
The COVID-19 pandemic led to a global shutdown of the economy resulting from both demand and supply shocks. Also, the significant decline in output and employment in the immediate aftermath of the pandemic led to a fast reaction from the government in the form of large fiscal rescue packages. At the end of 2021, the acceleration of inflation, which had been dormant for more than four decades, became the main topic of macroeconomic debates. The debate has revolved around the influence of cost-push versus demand-pull causes of inflation. The dominant view in the United States has been that inflation resulted …