subject is the basic toolbox of mainstream economics. The most important tools in this box are demand, supply and equilibrium … what economists tell us, demand, supply and equilibrium do not carry over to the actual world: they cannot be empirically …

framework and firm-level prices and quantities data for detailed products allowing us to both measure demand, and its changes …. This in turn allows us to measure how changes in TFP-Q, demand and markups ultimately affected revenue TFP, as well as …-recession is due to both a weakening of demand and a decreasing TFP-Q pushing down sales, markups, revenue TFP and labour …