Opendata, web and dolomites

MACROPMF SIGNED

Macroeconomic Dynamics with Product Market Frictions

Total Cost €

0

EC-Contrib. €

0

Partnership

0

Views

0

Project "MACROPMF" data sheet

The following table provides information about the project.

Coordinator
Istituto Einaudi per l'Economia e la Finanza 

Organization address
address: via sallustiana 62
city: ROMA
postcode: 187
website: http://www.eief.it/

contact info
title: n.a.
name: n.a.
surname: n.a.
function: n.a.
email: n.a.
telephone: n.a.
fax: n.a.

 Coordinator Country Italy [IT]
 Project website https://sites.google.com/site/gigipaciello/home/erc
 Total cost 1˙192˙000 €
 EC max contribution 1˙192˙000 € (100%)
 Programme 1. H2020-EU.1.1. (EXCELLENT SCIENCE - European Research Council (ERC))
 Code Call ERC-2015-STG
 Funding Scheme ERC-STG
 Starting year 2016
 Duration (year-month-day) from 2016-02-01   to  2020-01-31

 Partnership

Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    Istituto Einaudi per l'Economia e la Finanza IT (ROMA) coordinator 1˙192˙000.00

Map

 Project objective

The transmission of microeconomic and macroeconomic shocks to firms' price and demand in product markets is the cornerstone of a large volume of macroeconomic literature. Product market frictions, by reducing the ability of demand to relocate across different suppliers, affect firms' incentives when setting prices, and therefore the pass-through of shocks to both demand and prices. In this project we plan to study the implications of product market frictions for firm level price and demand dynamics, as well as for macroeconomic dynamics. The aim is to integrate micro and macro economics, both theoretically and empirically, to a greater extent than is currently done in the literature.

We will apply our tools to two main areas of interest. First, we will study how product market frictions affect the optimal pricing decision of firms, and the relocation of consumers across different suppliers. We will provide novel empirical microeconomic evidence on the relationship between price and consumer dynamics. We will build a rich but yet tractable model where product market frictions give rise to firm pricing with customer markets. The aim is to use observable statistics from the micro data to estimate the key parameters of the model and quantify the relevance of the product market frictions for firm pricing and demand dynamics.

Second, we will explore the importance of product market frictions for macroeconomic dynamics. We will apply our quantified model of price and consumer dynamics to areas of macroeconomics where we expect our methodology and empirical analysis to be more relevant, both because of the types of questions addressed and because of a direct relationship with the mechanism. In particular we will focus on the role of product market frictions for business cycle fluctuations and international trade.

 Publications

year authors and title journal last update
List of publications.
2019 Luigi Paciello, Andrea Pozzi, Nicholas Trachter
PRICE DYNAMICS WITH CUSTOMER MARKETS
published pages: 413-446, ISSN: 0020-6598, DOI: 10.1111/iere.12358
International Economic Review 60/1 2019-04-18
2017 Luigi Paciello Andrea Pozzi Nicholas Trachter
Price Dynamics with Customer Markets
published pages: , ISSN: , DOI:
2018-03-14
2017 Claudio Michelacci Luigi Paciello
Ambiguous Policy Announcements
published pages: , ISSN: , DOI:
2018-03-14

Are you the coordinator (or a participant) of this project? Plaese send me more information about the "MACROPMF" project.

For instance: the website url (it has not provided by EU-opendata yet), the logo, a more detailed description of the project (in plain text as a rtf file or a word file), some pictures (as picture files, not embedded into any word file), twitter account, linkedin page, etc.

Send me an  email (fabio@fabiodisconzi.com) and I put them in your project's page as son as possible.

Thanks. And then put a link of this page into your project's website.

The information about "MACROPMF" are provided by the European Opendata Portal: CORDIS opendata.

More projects from the same programme (H2020-EU.1.1.)

PROGRESS (2019)

The Enemy of the Good: Towards a Theory of Moral Progress

Read More  

DISINTEGRATION (2019)

The Mass Politics of Disintegration

Read More  

EVOMENS (2020)

The evolution of menstruation in primates

Read More