Plausibly Exogenous [954] - Inflation (09/09/2022)
LHS Variable
Bank lending
RHS Variable
Inflation
Source of Exogenous Variation
An unexpected U.S. inflation increase in early 1977 and differences in state-level reserve requirements for Federal Reserve nonmember banks, which created differences in banks’ inflation exposures
- Agarwal and Baron (2022), “Inflation and Disintermediation”