Wednesday - October 23, 2024
Federal Reserve Bank of St. Louis: 'Nominal Maturity Mismatch and the Liquidity Cost of Inflation'
October 21, 2024
ST. LOUIS, Missouri, Oct. 21 (TNSres) -- The Federal Reserve Bank of St. Louis issued the following white paper (No. 2024-031A) in September 2024 by Yu-Ting Chiang and Ezra Karger entitled "Nominal Maturity Mismatch and the Liquidity Cost of Inflation."

Here are excerpts:

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We document a liquidity channel through which unexpected inflation generates substantial welfare losses. Household balance sheets are nominal maturity mismatched: nominal l . . .

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