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How Do Supply Shocks to Inflation Generalize? Evidence from the Pandemic Era in Europe

Acharya, Viral V.; Crosignani, Matteo; Eisert, Tim; … - National Bureau of Economic Research - 2023

We document how supply-chain pressures, household inflation expectations, and firm pricing power interacted to induce the pandemic-era surge in consumer price inflation in the euro area. Initially, supply-chain pressures increased inflation through a cost-push channel and raised inflation...

Persistent link: https://www.econbiz.de/10014421216

Business Group Spillovers

Naaraayanan, S. Lakshmi; Wolfenzon, Daniel - National Bureau of Economic Research - 2023

We compare the investment of standalone firms across regions after a positive shock to the investment opportunities generated by a large-scale highway development project. We show that the standalones' investment sensitivity is lower in regions with a higher density of business groups in the...

Persistent link: https://www.econbiz.de/10014250125

A Model of Influencer Economy

Cong, Lin William; Li, Siguang - National Bureau of Economic Research - 2023

With the rise of social media and streaming platforms, firms and brand-owners increasingly depend on influencers to attract consumers, who care about both common product quality and consumer-influencer interaction. Sellers thus compete in both influencer and product markets. As outreach and...

Persistent link: https://www.econbiz.de/10014287344

Equilibrium Responses to Price Controls : A Supply-Chain Approach

Mulligan, Casey B. - National Bureau of Economic Research - 2024

Prices are regulated in many markets, ranging from healthcare to labor to telecommunications. This paper reinterprets the variables in the basic supply-demand model so that both product-definition and quantity are equilibrium outcomes. Specifically, compliance with price controls is achieved by...

Persistent link: https://www.econbiz.de/10014512070

Weathering the Storm : Supply Chains and Climate Risk

Castro-Vincenzi, Juanma; Khanna, Gaurav; Morales, Nicolas; … - National Bureau of Economic Research - 2024

We characterize how firms structure supply chains under climate risk. Using new data on the universe of firm-to-firm transactions from an Indian state, we show that firms diversify sourcing locations, and suppliers exposed to climate risk charge lower prices. Our event-study analysis finds that...

Persistent link: https://www.econbiz.de/10014512072

Are Supply Networks Efficiently Resilient?

Capponi, Agostino; Du, Chuan; Stiglitz, Joseph E. - National Bureau of Economic Research - 2024

We show that supply networks are inefficiently, and insufficiently, resilient. Upstream firms can expand their production capacity to hedge against supply and demand shocks. But the social benefits of such investments are not internalized due to market power and market incompleteness. Upstream...

Persistent link: https://www.econbiz.de/10014512075

FDI and Superstar Spillovers : Evidence from Firm-to-Firm Transactions

Amiti, Mary; Duprez, Cédric; Konings, Jozef; Van … - National Bureau of Economic Research - 2023

Despite competition concerns over the increasing dominance of global corporations, many argue that productivity spillovers from multinationals to domestic firms justify pro- FDI policies. For the first time, we use firm-to-firm transaction data in a developed country to examine the impact of...

Persistent link: https://www.econbiz.de/10014250146

Supply Chain Risk : Changes in Supplier Composition and Vertical Integration

Ersahin, Nuri; Giannetti, Mariassunta; Huang, Ruidi - National Bureau of Economic Research - 2023

Using textual analysis of earnings conference calls, we quantify firms' supply chain risk and its sources. Our proxy for supply chain risk exhibits large cross-sectional and time-series variation that aligns with reasonable priors and is unprecedently high during the Covid-19 pandemic. In...

Persistent link: https://www.econbiz.de/10014250152

Bound by Ancestors : Immigration, Credit Frictions, and Global Supply Chain Formation

Choi, Jaerim; Hyun, Jay; Park, Ziho - National Bureau of Economic Research - 2023

This paper shows that the ancestry composition shaped by century-long immigration to the US can explain the current … firm-to-firm global supply chain information with a US establishment database and historical migration data, we find that … foreign countries and US counties. Such a positive impact not only exists in conventional supplier-customer relationships but …

Persistent link: https://www.econbiz.de/10014250174

How Far Goods Travel : Global Transport and Supply Chains from 1965-2020

Ganapati, Sharat; Wong, Woan Foong - National Bureau of Economic Research - 2023

This paper considers the evolution of global transportation usage over the past half century and its implications for supply chains. Transportation usage per unit of real output has more than doubled as costs decreased by a third. Participation of emerging economies in world trade and...

Persistent link: https://www.econbiz.de/10014250184