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宏观Workshop:Not all Supply Curves Slope Up
发布日期：2023-10-13 12:00 来源：
主讲人：Evi Pappa (Universidad Carlos III de Madrid)
时间：2023年10月13日 下午3:00 – 4:30
加入Zoom会议：https://us06web.zoom.us/j/88581935725pwd=I1LebneKkH5fdekmgiT8cJh8vWXrNe.1
会议号：885 8193 5725
密码：20231013
摘要：We compile a unique firm-level data set containing information on prices and real output at the monthly frequency for a sample of Swedish industrial firms for more than 20 years and use it to estimate the short and medium run responses of prices and quantities to exogenous demand shocks. Inference on the supply slope is based on an IV regression of cumulative price growth on cumulative sales using global demand shocks as instruments. Not all supply curves slope upwards. The supply curve is flatter for firms with low markups and low productivity and exporting firms. The slope of the supply curve depends also on the aggregate state of the economy: individual supply curves are steeper in times of high inflation and of low financial volatility.
主讲人简介：Evi Pappa is Professor of Economics at Universidad Carlos III de Madrid. is a member of the CEPR-EABCN Euro Area Business Cycle Dating Committee and a memeber of the Fiscal Council of Portugal. Her research focuses on topics at the intersection of macroeconomics, monetary policy and public finance within developed economies. Evi has held positions in different universities in Europe (LSE, Bocconi, UAB, University of Bern and the EUI), and acted as a visiting researcher and consultant in many central banks (recently in the Bank of Spain, the Bank of Canada, the Bank of England, and the European Central Bank). Professor Pappa is also a Research Fellow of the Centre for Economic Policy Research (CEPR). She serves as a co-editor of the European Economic Review and an associate editor of the Economic Journal, the Journal of International Economics, the BE Journal of Macroeconomics and the Journal of the Spanish Economic Association.
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首页
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宏观Workshop:Not all Supply Curves Slope Up
发布日期：2023-10-13 12:00 来源：
主讲人：Evi Pappa (Universidad Carlos III de Madrid)
时间：2023年10月13日 下午3:00 – 4:30
加入Zoom会议：https://us06web.zoom.us/j/88581935725pwd=I1LebneKkH5fdekmgiT8cJh8vWXrNe.1
会议号：885 8193 5725
密码：20231013
摘要：We compile a unique firm-level data set containing information on prices and real output at the monthly frequency for a sample of Swedish industrial firms for more than 20 years and use it to estimate the short and medium run responses of prices and quantities to exogenous demand shocks. Inference on the supply slope is based on an IV regression of cumulative price growth on cumulative sales using global demand shocks as instruments. Not all supply curves slope upwards. The supply curve is flatter for firms with low markups and low productivity and exporting firms. The slope of the supply curve depends also on the aggregate state of the economy: individual supply curves are steeper in times of high inflation and of low financial volatility.
主讲人简介：Evi Pappa is Professor of Economics at Universidad Carlos III de Madrid. is a member of the CEPR-EABCN Euro Area Business Cycle Dating Committee and a memeber of the Fiscal Council of Portugal. Her research focuses on topics at the intersection of macroeconomics, monetary policy and public finance within developed economies. Evi has held positions in different universities in Europe (LSE, Bocconi, UAB, University of Bern and the EUI), and acted as a visiting researcher and consultant in many central banks (recently in the Bank of Spain, the Bank of Canada, the Bank of England, and the European Central Bank). Professor Pappa is also a Research Fellow of the Centre for Economic Policy Research (CEPR). She serves as a co-editor of the European Economic Review and an associate editor of the Economic Journal, the Journal of International Economics, the BE Journal of Macroeconomics and the Journal of the Spanish Economic Association.
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