Prof. Jonathan Gruber speaks with GBH co-hosts Jim Braude and Margery Eagan about the cause and future of inflation in the United States. “I think that inflation is going to come down because I think people are going to start to run out of this extra money they have been spending, but I don’t think it’s going to come down in the near future anywhere toward the levels it was in the 2000s” says Gruber.
A new paper from Prof. Kristin J. Forbes finds that the increased impact of globalization on the rate of inflation will affect everything from government policy to stock market returns. “The study's findings also suggest that central banks may be losing their power to direct the economy,” reports Dion Rabouin for Axios.
Spun out of Sloan’s Billion Prices Project, PriceStats tracks millions of items sold online and produces a daily measure of U.S. consumer prices, allowing investors to track inflation faster.“By producing a daily index of prices…it has a considerable jump on figures that government entities calculate monthly,” writes Eric Morath of the Wall Street Journal.
In an article for the Financial Times, Robin Wigglesworth highlights Profs. Alberto Cavallo and Roberto Rigobon’s work with the Billion Prices Project. Wigglesworth notes that the project is an, “example of a broader trend of trawling the swelling sea of big data for clues on how companies, industries or entire economies are performing.”
Financial Times reporter Tim Harford writes about the Billion Prices Project, which was started by Profs. Alberto Cavallo and Roberto Rigobon in an effort to better understand inflation by gathering price data from online retailers. Harford writes that the project’s “approach to inflation is also helping us to understand the fundamental question of why recessions happen.”
In a piece for The Huffington Post, Jon Hartley writes about The Billion Prices Project, an initiative started by Profs. Roberto Rigobon and Alberto Cavallo to measure daily inflation. “The BPP daily inflation indices cover more than 70 countries and use daily price fluctuations of over five million items sold in over 300 online retailers,” Hartley explains.