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Inflation and GDP dynamics in production networks : a sufficient statistics approach

Afrouzi, Hassan; Bhattarai, Saroj - 2023

We derive closed-form solutions and sufficient statistics for inflation and GDP dynamics in multi-sector New Keynesian … of inflation and GDP responses to monetary and sectoral shocks and (2) increase the pass-through of sectoral shocks to … aggregate inflation. Quantitatively, we confirm the significant role of production networks in shock propagation, emphasizing …

Persistent link: https://www.econbiz.de/10014267200

Inflation and GDP Dynamics in Production Networks : A Sufficient Statistics Approach

Afrouzi, Hassan; Bhattarai, Saroj - 2022

We provide closed-form solutions for inflation and GDP dynamics in multi-sector New Keynesian economies with arbitrary … the persistence of inflation and lead to a GDP response that is more than three times the response in an economy with a …. These spillover effects generate a bigger and more persistent increase in aggregate inflation relative to an economy with a …

Persistent link: https://www.econbiz.de/10013295481

Inflation and GDP Dynamics in Production Networks : A Sufficient Statistics Approach

Afrouzi, Hassan; Bhattarai, Saroj - 2023

Persistent link: https://www.econbiz.de/10014356604

Price Rigidities and the Granular Origins of Aggregate Fluctuations

Pasten, Ernesto - 2017

We study the aggregate implications of sectoral shocks in a multi-sector New Keynesian model featuring sectoral heterogeneity in price stickiness, sector size, and input-output linkages. We calibrate a 341 sector version of the model to the United States. Both theoretically and empirically,...

Persistent link: https://www.econbiz.de/10012945756

Price Rigidity and the Granular Origins of Aggregate Fluctuations

Pasten, Ernesto - 2020

We study the potency of sectoral productivity shocks to drive aggregate fluctuations in the presence of three empirically relevant heterogeneities across sectors: sector size, intermediate input consumption, and pricing frictions in a multi-sector New Keynesian model. We derive conditions under...

Persistent link: https://www.econbiz.de/10012853887

Price Rigidities and the Granular Origins of Aggregate Fluctuations

Pasten, Ernesto - 2018

We study the ability of sectoral shocks to generate aggregate fluctuations in a multi-sector general equilibrium model featuring sectoral heterogeneity in price stickiness, sector size, and input-output linkages. We show fat-tailed distributions of sectoral size or network centrality are neither...

Persistent link: https://www.econbiz.de/10012928187