Looking forward to it! Stay tuned tomorrow

Dato importante: Argentina es hoy un 19% más cara que Brasil en dólares para una canasta idéntica de alimentos, combustibles y electrónicos. Históricamente, la ley del precio único se cumple en promedio entre ambos países (línea azul), y las desviaciones suelen corregirse en

🚨The Pricing Lab at Harvard Business School is hiring a macro post-doctoral fellow for 2025-26! Open to candidates with or without associate professor offers. academicpositions.harvard.edu/postings/14572

In advanced economies, #Inflation is highly granular, ie significantly influenced by prices set by a small number of large firms. These price changes also contributed substantially to the post-Covid inflation surge. #CentralBanks bis.org/publ/work1240.…

🚨 Deadline Feb 16 📅: Only 1 month left to submit for Esade Macro Meetings (EM2)! Join vibrant macroeconomic discussions and hear from keynote Vincent Sterk in beautiful Barcelona. 🌟 Submit here: form.jotform.com/243114806994361 #EconTwitter #EconX

Large firms contribute substantially to aggregate inflation dynamics. Below an excellent summary of the paper joint with Santiago Alvarez Blaser Raphael Auer Andrei #Levchenko (now out as BIS WP):

A clarification: we measure prices, not markups. We have no evidence to support or refute concepts like greedflation/seller’s inflation. A recent paper that looks at this empirically is by Santiago Alvarez Blaser Alberto Cavallo, see here: santiagoalvarezblaser.com

An indictment of rational expectations, or at least evidence of the overwhelming importance of priors

The 2015 CHF appreciation is a key empirical setting for understanding how large exchange rate movements shape macroeconomic outcomes. In a new VoxEU.org w Sarah Lein and Ariel Burstein, we reflect on the learnings 10 years after the shock: cepr.org/voxeu/columns/…

🌐 Are you researching firms or networks in macro or trade? 🎯 Then submit your paper to our Barcelona School of Economics Summer Forum Workshop (w/ Alessandro Ferrari)! ✨ Keynotes: Pol Antras, Jennifer La'O ⏰ Deadline: Feb 28 Funded by Ministerio de Ciencia, Innovación y Universidades Swiss National Science Foundation events.bse.eu/live/files/537…

Investigating the role of individual firms and product categories in aggregate inflation, from Santiago Alvarez-Blaser, @raphauer, Sarah Lein, and Andrei A. Levchenko nber.org/papers/w33404

Are you doing research in banking / financial intermediation? Wanna visit beautiful Madrid in June (funded by the Bank if you are an academic)? Apply before 14 February!! bde.es/f/webbe/INF/Me…

🚨 Deadline Feb 16 📅: Only 1 week left to submit your paper for the Esade Macro Meetings (EM2)! Submit here: form.jotform.com/243114806994361 #EconTwitter #EconX

We have a new working paper: 𝐀𝐭𝐭𝐞𝐧𝐭𝐢𝐨𝐧 𝐭𝐨 𝐭𝐡𝐞 𝐌𝐚𝐜𝐫𝐨𝐞𝐜𝐨𝐧𝐨𝐦𝐲 with Sebastian Link, Andreas Peichl, Chris Roth and Johannes Wohlfart Short thread below ⬇️ Empirical Macroeconomics Policy Center of Texas ifo Institut Universität zu Köln Economics LMU Munich UT-Austin Economics

While the USTR tariff calculator cites the findings from Cavallo, Gopinath, Neiman & Tang (2021) it is not entirely clear how they use our findings. Based on our research, the elasticity of import prices with respect to tariffs is closer to 1. If that figure were used instead of

🚨 Call for Papers 🚨 1st Madrid Mountain Macro Conference September 18-19 in the Cercedilla Residence of the Bank of Spain, in the Sierra of Madrid with Poster Session for PhD students Application deadline: May 30th Please share and send your papers!

Our study on markups along the supply chain is now out as an NBER Working Paper. Using a unique dataset, we track markup changes across two stages of the supply chain for the same products. 🧵 Summary below:

New evidence shows stable total markups despite volatile manufacturer and retailer margins, highlighting shifting bargaining power along the supply chain, from Santiago Alvarez-Blaser, Alberto Cavallo, Alex MacKay, and Paolo Mengano nber.org/papers/w34110

The bank of spain is hiring! Don’t hesitate to contact me if there is anything you want to discuss. Best of luck in the market!