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DTSTART:20220327T010000
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DTSTART;TZID=Europe/Helsinki:20221114T121500
DTEND;TZID=Europe/Helsinki:20221114T133000
DTSTAMP:20260711T125055
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SUMMARY:Glenn MAGERMAN (ECARES-ULB and CEPR) "Price Updating with Production Networks∗"
DESCRIPTION:The Macroeconomics Seminar:\nTime: 12:15 pm – 13:30 pm\nDate: 14th of November 2022 \nRoom 3001 \nGlenn MAGERMAN (ECARES-ULB and CEPR) “Price Updating with Production Networks∗” \nAbstract : We provide a general non-parametric framework of variable markups in the presence of production networks. The framework does not impose structural assumptions on market environment\, demand or production\, and delivers elasticities that can be directly taken to the data. Our approach allows to estimate pass-through and firms’ responses\nto environment’s prices without the need to estimate marginal costs\, but relies on observed firm-level price changes and input shares. Combined with the observation that firms are connected through buyer-supplier relationships\, incomplete pass-through and price competition have profound implications for propagation and aggregation properties in terms of the exchange rate disconnect puzzle\, monetary policy and productivity shocks. \nJoint work : Cedric DUPREZ (National Bank of Belgium) \nOrganizers:\nGrégory CORCOS (Ecole Polytechnique & CREST) \nSponsors:\nCREST \n
URL:https://crest.science/event/glenn-magerman-universite-libre-de-bruxelles-t-b-a/
CATEGORIES:Macroeconomics
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