Do Deficits Cause Inflation? A High Frequency Narrative Approach (slides)
Narrative dataset from investment banks
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(with Stephan Hobler), May 2025
[Updated!] Why do Workers Dislike Inflation? Wage Erosion and Conflict Costs (slides)
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(with Joao Guerreiro, Chen Lian and Christina Patterson), September 2025
Revise and resubmit, Econometrica
Awarded the SCOR-PSE Junior Research Prize
Coverage: Marginal Revolution, Bloomberg, Wall Street Journal
LASH Risk and Interest Rates (slides)
(with Laura Alfaro, Saleem Bahaj, Robert Czech and Ioana Neamțu), December 2024
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Coverage: FT Alphaville
National Wage Setting (slides)
(with Christina Patterson, Heather Sarsons and Bledi Taska), June 2025
Accepted, American Economic Review
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Firm name cleaning code
Bonus Question: How Does Flexible Incentive Pay Affect Wage Rigidity? (slides)
(with Meghana Gaur, John Grigsby and Abdoulaye Ndiaye), October 2025
Accepted, American Economic Review: Insights
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Coverage: Marginal Revolution
Dynamics of the Long Term Housing Yield: Evidence from Natural Experiments (slides)
(with Verónica Bäcker-Peral and Atif Mian), April 2025
Accepted, American Economic Review
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Coverage: Financial Times
Replication package
Real time estimates
Downward Rigidity in the Wage for New Hires (slides)
(with Bledi Taska), Forthcoming
American Economic Review
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Coverage: Marginal Revolution, Joint Economic Committee (US Senate)
Teaching video by Pascal Michaillat
Comment on Beaudry, Hou & Portier (2025) ``The Dominant Role of Expectations and Broad-Based Supply Shocks in Driving Inflation'' (slides)
July 2025
NBER Macroeconomics Annual
The Slope of the Phillips Curve: Evidence from U.S. States (slides)
(with Juan Herreño, Emi Nakamura and Jón Steinsson), August 2022
Quarterly Journal of Economics [lead article]
Online Appendix
Link to database of state level inflation
Coverage: The Economist, Paul Krugman (Substack), Noah Smith (Bloomberg View), Chicago Fed speech, New York Times, Full Stack Economics
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Replication Package
Unemployment Insurance Financing as a Uniform Payroll Tax (slides)
(with Sebastian Graves, Walker Lewis and Christina Patterson), May 2022
American Economic Association, Papers & Proceedings
AI and Jobs: Evidence from Online Vacancies (slides)
(with Daron Acemoglu, David Autor and Pascual Restrepo), April 2022
Journal of Labor Economics
Coverage: The Economist, Voxeu, The Washington Post
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Replication Package
Systemic Risk Shifting in Financial Networks (slides)
(with Matthew Elliott and Co-Pierre Georg), January 2021
Journal of Economic Theory
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A Theory of How Workers Keep Up With Inflation
By Hassan Afrouzi, Andres Blanco, Andres Drenik & Erik Hurst
NBER Monetary Economics, November 2024
It's Baaack: The Surge in Inflation in the 2020s and the Return of the Non-Linear Phillips Curve
By Pierpaolo Benigno & Gauti Eggertsson
Reykjavik Economic Conference, May 2024
Can Supply Shocks Be Inflationary with a Flat Phillips Curve?
By Jean-Paul L’Huillier & Gregory Phelan
Deutsche Bundesbank Conference on Structural Change and Implications for Inflation, May 2024
The Dominant Role of Expectations and Broad-Based Supply Shocks in Driving Inflation
By Paul Beaudry, Chenyu Hou and Franck Portier
NBER Macroeconomics Annual Conference, April 2024
Anatomy of the Phillips Curve: Micro Evidence and Macro Implications
By Luca Gagliardone, Mark Gertler, Simone Lenzu and Joris Tielens
European Central Bank Inflation Conference, September 2023
The Unemployment-Inflation Trade-off Revisited: The Phillips Curve in COVID Times
By Richard K. Crump, Stefano Eusepi, Marc Giannoni and Ayşegül Şahin
Journal of Monetary Economics-Swiss National Bank-Gerzensee Study Center Conference, October 2022
Search Demand Effects, Equilibrium Unemployment and a Wage Phillips Curve
By Nicolas Petrosky-Nadeau, Etienne Wasmer and Philippe Weil
AMSE-BdF Macro Workshop, December 2020