New working paper out: “Non-Essential Business Cycles” with Natalie Rickard and Paolo Surico. We show that the split between essential and non-essential consumption can amplify business cycles and can have distributional consequences. (1/10)

Economists have long hypothesized that firm’s spatial proximity may generate productivity spillovers. How large are externalities & how broad is their reach? New insights in our new ECMA paper: role of firms’ plant-level networks & industrial policy 🚨 #econtwitter Econometrica

Studying the propagation of nominal shocks in a dispersed information economy where firms learn from and respond to information generated by their activities in product and factor markets, from Christian Hellwig and Venky Venkateswaran nber.org/papers/w33215

Studying cost-price dynamics in normal times and during inflation surges, from Luca Gagliardone, Mark Gertler, Simone Lenzu, and Joris Tielens nber.org/papers/w33478

1/ 🚨 New tariffs are here. What did we learn from the last round? Our research (AER: Insights 2021) shows that tariffs on imports largely hit US firms—not foreign exporters. But front-running, trade diversion, and lower margins meant the impact on consumer prices was limited in

Forthcoming in the AER: "Anatomy of the Phillips Curve: Micro Evidence and Macro Implications" by Luca Gagliardone, Mark Gertler, Simone Lenzu, and Joris Tielens. aeaweb.org/articles?id=10…