We obtain the following results. (ii) Both supply and demand shocks are important sources of fluctuations; supply … prevails for GDP, while demand prevails for employment and information. (ii) Policy matters: Both monetary and fiscal policy … implement important systematic countercyclical policies reacting to demand shocks. (iii) Negative demand shocks have a large …

-shock specification, we identify, using sign re- strictions, two non-policy shocks, demand and supply, and two policy shocks, monetary and … fiscal. We obtain the following results. (ii) Both supply and demand shocks are important sources of fluc- tuations; supply … prevails for GDP, while demand prevails for employment and inflation. (ii) Policy matters, Both monetary and fiscal policy …

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

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

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 …

Supply curve should be created from buyers' view, and demand curve should be created from sellers' view. Producers are … joints of supply and demand, not products. Producers make their decisions based on average profits, not marginal profits …