How economic crises affect inflation beliefs: Evidence from the Covid-19 pandemic.

This paper studies how inflation beliefs reported in the New York Fed's Survey of Consumer Expectations have evolved over the first six months of the Covid-19 pandemic. We find that household inflation expectations responded slowly and mostly at the short-term horizon. In contrast, the data reveal immediate and unprecedented increases in individual inflation uncertainty and in inflation disagreement across respondents.

The impact of the Federal Pandemic Unemployment Compensation on job search and vacancy creation.

During the COVID-19 pandemic, the Federal Pandemic Unemployment Compensation (FPUC) increased US unemployment benefits by $600 a week. Theory predicts that FPUC should decrease job applications, while the effect on vacancy creation is ambiguous. We estimate the effect of FPUC on job applications and vacancy creation week by week, from March to July 2020, using granular data from the online jobs platform Glassdoor.