We propose an aggregate growth index that explicitly accounts for non-normality in the micro-economic distribution of firm growth rates and for the presence of a negative scaling relation between their volatility and the size of the firm. Using Compustat data on US publicly traded company, we...

We use a detailed micro dataset on product availability to construct a direct high frequency measure of consumer product shortages during the 2020-21 pandemic. We document a widespread multi-fold rise in shortages in nearly all sectors early in the pandemic. Over time, the composition of...

Our study of Belgian firms found that 2022 price increases were largely attributable to rising intermediate input costs. Wage increases also contributed to prices hikes. Interestingly, markups appeared to play no role in driving up prices and in fact decreased or even offset the contribution of...

This paper analyzes the adjustment strategies used by some Mexican firms to face supply and demand shocks. The information is provided by a survey carried out in 2012 by Banco de M'exico among 1,138 firms from different sectors. The results show that the response of firms to both types of shocks...

We empirically explore the direct and immediate response of firms' inflation expectations to monetary policy shocks. We use the Bank of Italy's quarterly Survey of Inflation and Growth Expectations, in operations since 2000, and compare average point inflation expectations of firms interviewed...

We use a detailed micro dataset on product availability to construct a direct high frequency measure of consumer product shortages during the 2020-21 pandemic. We document a widespread multi-fold rise in shortages in nearly all sectors early in the pandemic. Over time, the composition of...

This paper analyzes the adjustment strategies used by some Mexican firms to face supply and demand shocks. The information is provided by a survey carried out in 2012 by Banco de M´exico among 1,138 firms from different sectors. The results show that the response of firms to both types of...

This paper analyzes the adjustment strategies used by some Mexican firms to face supply and demand shocks. The information is provided by a survey carried out in 2012 by Banco de México among 1,138 firms from different sectors. The results show that the response of firms to both types of shocks...

We explore firm-level markup and profit rates during the COVID-19 pandemic for a panel of 3,548 publicly-traded firms in Compustat and find increases for the average firm. Those increases can be captured by previous trends in market power and profitability. Furthermore, focusing on the average...

There is growing evidence of producer-level idiosyncratic shocks affecting macroeconomic aggregates as they are propagated and amplified by input-output linkages, which are also known as the production network. Most of the recent models assume that this shock-propagation is instantaneous,...