Martin DeLuca

Economic Commentaries

• Economic Commentary

  Excess Savings and Consumer Behavior: Excess Compared to What?

  Martin DeLuca Roberto B. Pinheiro
  11.20.2023 | EC 2023-19
  Highlighting differences in measures of counterfactual savings, we show that using consumption smoothing, post-pandemic excess savings are currently positive.
  
  Topics: Financial well-being
  
• Economic Commentary

  The Long-Run Costs of Higher Inflation

  Jean-Paul L’Huillier Martin DeLuca
  10.17.2023 | EC 2023-17
  Inflation imposes significant costs on society because of frictions arising in markets, such as the imperfect adjustment of prices, wages, or financial contracts, and the limited computing ability of individuals.
  
  Topics: Inflation
  
• Economic Commentary

  Postpandemic Nominal Wage Growth: Inflation Pass-Through or Labor Market Imbalance?

  Martin DeLuca Willem Van Zandweghe
  08.14.2023 | EC 2023-13
  According to a new model of wage growth, increases in wage growth since the pandemic reflect the pass-through of inflation instead of labor market imbalances.
  
  Topics: Labor economics, Inflation
  
• Economic Commentary

  US Labor Market after COVID-19: An Interim Report

  Martin DeLuca Roberto B. Pinheiro
  02.13.2023 | EC 2023-04
  We use data from the CPS and the BLS to view changing labor market patterns and highlight possible underlying reasons for an uneven pandemic recovery.
  
  Topics: Labor economics, Public health crises