Almost five years ago I was declared an “unreal economist” for proposing that the return of inflation had something to do with a sharp rise in profit margins. This was the beginning of a tireless research effort. @EvanWasner and I wrote a paper explaining how emergencies coordinate corporate price hikes causing sellers’ inflation. Our work has been discussed widely and cited by central banks, the IMF and OECD. Now, Evan just became Dr Wasner with a brilliant dissertation on inflation, critical inputs and inequality. Could not be prouder of my first ever PhD student graduating! Onwards! 🍾🍾🍾🍾

The “Vibecession” was key to the downfall of Bidenomics. This must read paper leverages scanner data to show: People were right to be worried about affordability. Real wages can fail to capture the actual living standards of the majority. We need better measures of affordability.