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Working paper
TFP, News, and "Sentiments:" the International Transmission of Business Cycles
In: NBER Working Paper No. w21010
SSRN
Convex Supply Curves
In: American economic review, Band 112, Heft 12, S. 3941-3969
ISSN: 1944-7981
We provide evidence that industries' supply curves are convex. To guide our empirical analysis, we develop a model in which capacity constraints at the firm level generate supply curves that are convex in logs at the industry level. The industry's capacity utilization rate is a sufficient statistic for the supply elasticity. Using data on capacity utilization and three different instruments, we estimate the supply curve and find robust evidence for an economically sizable degree of convexity. The nonlinearity we identify has several macroeconomic implications, including that responses to shocks are state dependent and that the Phillips curve is convex. (JEL D21, E22, E23, E32, E62, L60)
Fast and Slow Technological Transitions
In: Journal of political economy macroeconomics
ISSN: 2832-9341
Utilization-adjusted TFP across countries: Measurement and implications for international comovement
In: Journal of international economics, Band 146, S. 103753
ISSN: 0022-1996
The Long and Short (Run) of Trade Elasticities
In: NBER Working Paper No. w27064
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Working paper
Utilization-Adjusted TFP Across Countries: Measurement and Implications for International Comovement
In: NBER Working Paper No. w26803
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Technological Transitions with Skill Heterogeneity Across Generations
In: NBER Working Paper No. w26625
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Utilization-Adjusted TFP Across Countries: Measurement and Implications for International Comovement
In: CEPR Discussion Paper No. DP14438
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Working paper
The Long and Short (Run) of Trade Elasticities
In: CEPR Discussion Paper No. DP14645
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Working paper
Multinationals, Offshoring and the Decline of U.S. Manufacturing
In: NBER Working Paper No. w25824
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International Comovement in the Global Production Network
In: NBER Working Paper No. w25978
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Technological Transitions with Skill Heterogeneity across Generations
In: University of Chicago, Becker Friedman Institute for Economics Working Paper No. 2019-147
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International Comovement in the Global Production Network
In: CEPR Discussion Paper No. DP13796
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Working paper