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  1. Dispersion over the business cycle
    passthrough, productivity, and demand
    Author: Carlsson, Mikael; Clymo, Alex; Joslin, Knut-Eric
    Published: May 2022
    Publisher:  Sveriges Riksbank, Stockholm

    We characterize the dispersion of firm-level productivity and demand shocks using Swedish microdata including prices and utilization and analyse the consequences for firms and the aggregate economy. Demand dispersion increases by more than TFPQ... more

    Access:
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 204
    Inter-library loan:
    No inter-library loan

     

    We characterize the dispersion of firm-level productivity and demand shocks using Swedish microdata including prices and utilization and analyse the consequences for firms and the aggregate economy. Demand dispersion increases by more than TFPQ dispersion in recessions. Productivity shocks pass through incompletely to prices and have limited effect on sales dispersion. Demand shocks explain most of the variation in sales dispersion. In a heterogeneousfirm model matching the micro facts, demand dispersion has unambiguously negative effects on output via a "wait and see" channel. Productivity dispersion does not generate "wait and see" effects, but affects output negatively by inducing markup dispersion.

     
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/272871
    Series: Sveriges Riksbank working paper series ; 414
    Subjects: demand estimation; productivity; variable markups; business cycles; dispersion; uncertainty; passthrough; adjustment costs
    Scope: 1 Online-Ressource (circa 122 Seiten), Illustrationen
  2. Dispersion over the business cycle
    passthrough, productivity, and demand?
    Author: Carlsson, Mikael; Clymo, Alex; Joslin, Knut-Eric
    Published: [2023]
    Publisher:  IFAU, Institute for Evaluation of Labour Market and Education Policy, Uppsala

    We characterize the dispersion of firm-level productivity and demand shocks over the business cycle using Swedish microdata including prices and analyse the consequences for firms and the aggregate economy. Demand dispersion increases by more than... more

    Access:
    Verlag (kostenfrei)
    Verlag (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 137
    Inter-library loan:
    No inter-library loan

     

    We characterize the dispersion of firm-level productivity and demand shocks over the business cycle using Swedish microdata including prices and analyse the consequences for firms and the aggregate economy. Demand dispersion increases by more than productivity dispersion in recessions. Productivity shocks pass through incompletely to prices and have limited effect on sales dispersion. Demand shocks explain most of the variation in sales dispersion. In a heterogeneous-firm model matching the micro facts, demand dispersion has unambiguously negative effects on output via increased uncertainty and a "wait and see" channel. Productivity dispersion does not generate "wait and see" effects, but affects output negatively by inducing markup dispersion.

     
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Working paper / Institute for Evaluation of Labour Market and Education Policy ; 2023, 1
    Subjects: demand estimation; productivity; variable markups; business cycles; dispersion; uncertainty; passthrough; adjustment costs
    Scope: 1 Online-Ressource (circa 120 Seiten), Illustrationen