Welcome to the second edition of the Inflation Research Digest, a quarterly newsletter published by the Cleveland Fed’s Center for Inflation Research. It highlights research papers from the Federal Reserve System and other institutions, announces calls for papers for workshops and conferences, and provides links to inflation-related data.
The authors use high-frequency, disaggregated price data together with standard structural break techniques to provide early signals of inflation turning points.
The authors study the implications of the surge in immigration from 2021 to 2024 in the US. They document a negligible response in inflation from the immigration surge after accounting for the facts that new immigrants were primarily low skilled compared to the existing labor force and more likely to be hand-to-mouth consumers.
