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Data, Privacy Laws and Firm Production : Evidence from the GDPR
Demirer, Mert; Jiménez Hernández, Diego; Li, Dean; … - National Bureau of Economic Research - 2024
firm demand for information technology inputs. We study how firms respond to privacy laws in the context of the EU …By regulating how firms collect, store, and use data, privacy laws may change the role of data in production and alter … difference-in-difference estimates indicate that, in response to the GDPR, EU firms decreased data storage by 26% and data …
Persistent link: https://www.econbiz.de/10014486237
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Production Function Estimation Using Subjective Expectations Data
Norris Keiller, Agnes; Paula, Áureo de; Van Reenen, John - National Bureau of Economic Research - 2024
input choices. We introduce a new method that exploits (increasingly available) data on a firm's expectations of its future … (including a single cross-section), and Monte Carlo simulations show it outperforms alternative estimators when firms' material …
Persistent link: https://www.econbiz.de/10014635688
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Industrial Organization and The Rise of Market Power
Miller, Nathan H. - National Bureau of Economic Research - 2024
This article addresses developments in the literature on The Rise of Market Power. First, it summarizes research about the result of De Loecker 2020 that the sales-weighted average markup has increased in the United States. Second, it summarizes and evaluates a set of industry studies that...
Persistent link: https://www.econbiz.de/10014576656
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Trading Places : Mobility Responses of Native and Foreign-Born Adults to the China Trade Shock
Autor, David H.; Dorn, David; Hanson, Gordon H. - National Bureau of Economic Research - 2023
immigration may have played in enabling U.S. commuting zones to respond to manufacturing job loss caused by import competition …. Because most U.S. immigrants arrived in the country after manufacturing regions were already mature, few took up jobs in …
Persistent link: https://www.econbiz.de/10013537796
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Inflation is Conflict
Lorenzoni, Guido; Werning, Iván - National Bureau of Economic Research - 2023
This paper isolates the role of conflict or disagreement on inflation in two ways. In the first part of the paper, we present a stylized model, kept purposefully away from traditional macro models. Inflation arises despite the complete absence of money, credit, interest rates, production, and...
Persistent link: https://www.econbiz.de/10014250117
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Supply Chain Constraints and Inflation
Comin, Diego; Johnson, Robert C.; Jones, Callum - National Bureau of Economic Research - 2023
We develop a multisector, open economy, New Keynesian framework to evaluate how potentially binding capacity constraints, and shocks to them, shape inflation. We show that binding constraints for domestic and foreign producers shift domestic and import price Phillips Curves up, similar to...
Persistent link: https://www.econbiz.de/10014250196
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It's Baaack : The Surge in Inflation in the 2020s and the Return of the Non-Linear Phillips Curve
Benigno, Pierpaolo; Eggertsson, Gauti B. - National Bureau of Economic Research - 2023
inflation in the 2020s. Economic slack is measured as firms' job vacancies over the number of unemployed workers. After showing …
Persistent link: https://www.econbiz.de/10014250214
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Unconventional Monetary Policy According to HANK
Sims, Eric R.; Wu, Jing Cynthia; Zhang, Ji - National Bureau of Economic Research - 2022
This paper studies the implications of household heterogeneity for the effectiveness of quantitative easing (QE). We consider a heterogeneous agent New Keynesian (HANK) model with uninsurable household income risk. Financial intermediaries are subject to an endogenous leverage constraint that...
Persistent link: https://www.econbiz.de/10013361984
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Inequality and the Zero Lower Bound
Fernández-Villaverde, Jesús; Marbet, Joël; Nuño, Galo; … - National Bureau of Economic Research - 2023
This paper studies how household inequality shapes the effects of the zero lower bound (ZLB) on nominal interest rates on aggregate dynamics. To do so, we consider a heterogeneous agent New Keynesian (HANK) model with an occasionally binding ZLB and solve for its fully non-linear stochastic...
Persistent link: https://www.econbiz.de/10014287383
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Why Do We Dislike Inflation?
Stantcheva, Stefanie - National Bureau of Economic Research - 2024
are perceived to grow more rapidly amidst inflation. Many respondents believe that firms have considerable discretion in …
Persistent link: https://www.econbiz.de/10014528340