As a macro grad student, it feels like macro people dismiss people's worries when they don't use the right terms when in fact a lot of things that people term as greedflation can sort of be recognized in macro models. Like markup shocks show up in a lot of papers as drivers of business cycles and that sure sounds like greedflation!
But once we get past that I think macro people's intuitions still give something nice, the price of eggs changing is a relative price change which requires a different set of ideas to make sense of than an overall price change right?
As a macro grad student, it feels like macro people dismiss people's worries when they don't use the right terms when in fact a lot of things that people term as greedflation can sort of be recognized in macro models. Like markup shocks show up in a lot of papers as drivers of business cycles and that sure sounds like greedflation!
But once we get past that I think macro people's intuitions still give something nice, the price of eggs changing is a relative price change which requires a different set of ideas to make sense of than an overall price change right?