Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/296920 
Erscheinungsjahr: 
2023
Schriftenreihe/Nr.: 
Working Paper No. 2023:1
Verlag: 
Institute for Evaluation of Labour Market and Education Policy (IFAU), Uppsala
Zusammenfassung: 
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 than productivity dispersion in recessions. Productivity shocks pass through incompletely to prices and have limited effect on sales dispersion. Demand shocks explain most of the variation in sales dispersion. In a heterogeneous-firm model matching the micro facts, demand dispersion has unambiguously negative effects on output via increased uncertainty and a "wait and see" channel. Productivity dispersion does not generate "wait and see" effects, but affects output negatively by inducing markup dispersion.
Schlagwörter: 
demand estimation
productivity
variable markups
business cycles
dispersion
uncertainty
passthrough
adjustment costs
JEL: 
D21
D22
D81
E32
L11
Dokumentart: 
Working Paper

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