We characterize the dispersion of firm-level productivity and demand shocks using Swedish microdata including prices … facts, demand dispersion has unambiguously negative effects on output via a "wait and see" channel. Productivity dispersion … and utilization and analyse the consequences for firms and the aggregate economy. Demand dispersion increases by more than …

We characterize the dispersion of firm-level productivity and demand shocks over the business cycle using Swedish … microdata including prices and analyse the consequences for firms and the aggregate economy. Demand dispersion increases by more … than productivity dispersion in recessions. Productivity shocks pass through incompletely to prices and have limited effect …