We characterize the dispersion of firm-level productivity and demand shocks using Swedish microdata including prices … TFPQ dispersion in recessions. Productivity shocks pass through incompletely to prices and have limited effect on sales … facts, demand dispersion has unambiguously negative effects on output via a "wait and see" channel. Productivity dispersion …

is highly disaggregated at the industry level with an input-output network structure. Measured productivity in the model …-specific, uncorrelated across industries. The bulk of the aggregate fluctuations, including those in aggregate measured productivity, are … data. Our second finding is that about half of the decrease in the cyclicality of measured productivity in the U.S. after …

finding that labor productivity was procyclical; a framing of this finding as a "puzzle" or anomaly for the basic neoclassical …

We characterize the dispersion of firm-level productivity and demand shocks over the business cycle using Swedish … than productivity dispersion in recessions. Productivity shocks pass through incompletely to prices and have limited effect … and see" channel. Productivity dispersion does not generate "wait and see" effects, but affects output negatively by …

and data series show that the major drop in output was due to productivity. In addition, the timing of the banking reforms …