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Tail Risk in Production Networks
Dew-Becker, Ian - National Bureau of Economic Research - 2022
This paper describes the response of the economy to large shocks in a nonlinear production network. While arbitrary combinations of shocks can be studied, it focuses on a sector's tail centrality, which quantifies the effect of a large negative shock to the sector - a measure of the systemic...
Persistent link: https://www.econbiz.de/10013388835
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Misallocation in Firm Production : A Nonparametric Analysis Using Procurement Lotteries
Carrillo, Paul E.; Donaldson, Dave; Pomeranz, Dina; … - National Bureau of Economic Research - 2023
How costly is the misallocation of production that we might expect to result from distortions such as market power, incomplete contracts, taxes, regulations, or corruption? This paper develops new tools for the study of misallocation that place minimal assumptions on firms' underlying...
Persistent link: https://www.econbiz.de/10014322699
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Concentration, Market Power, and Misallocation : The Role of Endogenous Customer Acquisition
Afrouzi, Hassan; Drenik, Andres; Kim, Ryan - National Bureau of Economic Research - 2023
This paper explores how different margins of market share are related to markups. Using merged microdata on producers and consumers, we document that a firm's market share is mainly related to its number of customers, while its price-cost markup is associated only with its average sales per...
Persistent link: https://www.econbiz.de/10014322802
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Techies and Firm Level Productivity
Harrigan, James; Reshef, Ariell; Toubal, Farid - National Bureau of Economic Research - 2023
We study the impact of techies--engineers and other technically trained workers--on firm-level productivity. We first … structural econometric methods, we estimate the causal effect of techies on firm-level Hicks-neutral productivity in both … manufacturing and non-manufacturing industries. We find that techies raise firm-level productivity, and this effect goes beyond the …
Persistent link: https://www.econbiz.de/10014322729
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Firm Productivity and Learning in the Digital Economy : Evidence from Cloud Computing
Brand, James; Demirer, Mert; Finucane, Connor; Kreps, … - National Bureau of Economic Research - 2024
-scale evidence on how efficiently firms use these technologies. In this paper, we study firm productivity and learning in cloud … and persistent heterogeneity in compute productivity both across and within firms, similar to canonical results in the … use a wider variety of specialized machines. Notably, productivity is dynamic as firms learn to be more productive over …
Persistent link: https://www.econbiz.de/10015072880
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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
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Horses for Courses : Measuring Foreign Supply Chain Exposure
Baldwin, Richard E.; Freeman, Rebecca; … - National Bureau of Economic Research - 2022
Perceptions of global supply chains (GSCs) have shifted in recent years from a positive to a more cautious view. Standard GSC measures have mostly not adapted to this change as they focus on participation in, rather than exposure to, foreign supply chains. This paper presents the tools necessary...
Persistent link: https://www.econbiz.de/10013388881
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Weighted Median Inflation Around the World : A Measure of Core Inflation
Ball, Laurence M.; Carvalho, Carlos Viana de; Evans, … - National Bureau of Economic Research - 2023
The standard measure of core or underlying inflation is the inflation rate excluding food and energy prices. This paper constructs an alternative measure, the weighted median inflation rate, for 38 advanced and emerging economies using subclass level disaggregation of the CPI over 1990-2021, and...
Persistent link: https://www.econbiz.de/10014247953
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Auditing the Prescription Drug Consumer Price Index in a Changing Marketplace
Frank, Richard G.; Hicks, Andrew; Berndt, Ernst R. - National Bureau of Economic Research - 2022
The Bureau of Labor Statistics' Prescription Drug Consumer Price Index (CPI-Rx) has been the focus of considerable controversy in recent years. The CPI-Rx limits its sampling frame to transactions in retail outpatient outlets, and excludes prescription pharmaceuticals dispensed in hospitals,...
Persistent link: https://www.econbiz.de/10013388804
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Comparing Past and Present Inflation
Bolhuis, Marijn A.; Cramer, Judd N. L.; Summers, … - National Bureau of Economic Research - 2022
There have been important methodological changes in the Consumer Price Index (CPI) over time. These distort comparisons of inflation from different periods, which have become more prevalent as inflation has risen to 40-year highs. To better contextualize the current run-up in inflation, this...
Persistent link: https://www.econbiz.de/10013334335