We assess how demand and supply shocks (identified via the Blanchard and Quah (1989) SVAR approach) in 14 OECD … countries affect mark-ups. We find that individual responses of markups to demand shocks push down the markup for most countries … (confirmed in the panel analysis). On the other hand, a supply shock has a more mixed effect …

supply. We obtain the following results. (ii) Both supply and demand shocks are important sources of fluctuations; supply …-shock specification, we identify, using sign restrictions, two policy shocks, monetary and fiscal, and two non-policy shocks, demand and … prevails for GDP, while demand prevails for employment and inflation. (ii) Monetary and fiscal policy shocks have sizable …

We characterize the dispersion of firm-level productivity and demand shocks using Swedish microdata including prices … and utilization and analyse the consequences for firms and the aggregate economy. Demand dispersion increases by more than … dispersion. Demand shocks explain most of the variation in sales dispersion. In a heterogeneousfirm model matching the micro …

/smoothing demand, but supply shocks contribute substantially to both the oil-price volatility and the magnitude of oil shocks mainly …-specific technology shocks and supply shocks that can be imprecisely forecasted by noisy news shock. These shocks explain most of the U …

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 … on sales dispersion. Demand shocks explain most of the variation in sales dispersion. In a heterogeneous-firm model …

restrictions. In contrast to the predictions of a supply-demand framework, our results suggest that tighter supply restrictions … attention is paid to supply side restrictions and financial accelerator effects related to subprime lending. Considering 248 … Metropolitan Statistical Areas across the entire US, we estimate a simultaneous boom-bust system for housing prices and supply. The …

the topic of this paper. We find that the fluctuations in the supply of credit that result from this may significantly … Cycles ; Credit Market Imperfections ; Loan Supply …

path equilibrium. The derivation first builds consumption demand, aggregate demand, and then aggregate supply through the … consumer's time endowment, this captures a change in the "external margin" of labor supply. These comparative statics enable …