Event start date: 26.11.2021 11:00
Event end date: 26.11.2021 12:00
Open Research Seminar
On 26 November 2021, the National Bank of Ukraine hosted an open research seminar, during which Basile Grassi (Bocconi University) presented a joint paper with Ariel Burstein and Vasco M. Carvalho "Bottom-up Markup Fluctuations".
Authors study markup cyclicality in a granular macroeconomic model with oligopolistic competition. Authors characterize the comovement of firm, sectoral, and economy-wide markups with sectoral and aggregate output following firm-level shocks. Authors then quantify the model’s ability to reproduce salient features of the cyclical properties of markups in French administrative firm-level data, from the bottom (firm) level to the aggregate level. Our model helps rationalize various, seemingly conflicting, measures of markup cyclicality in the French data.
Materials from the seminar are available via links below.
