Venice Summer Institute 2023: The ‘70s are Back: Determinants and Implications of High Inflation

Scientific Organizers: Raphael Schoenle and Peter Zorn

Inflation is back, at levels not seen since the 1970s. Unlike in the 1970s, the rich microeconomic data available today provide a unique setting to test existing theories and develop new ones. The workshop discussed current work on micro-level price adjustment behavior and inflation expectations, their implications for inflation and economic activity, and the policy recommendations following from this research.