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@inproceedings{Farhi2017ProductivityAM, title={Productivity and Misallocation in General Equilibrium David Rezza Baqaee LSE}, author={E. Farhi}, year={2017} }

- Published 2017

We provide a general non-parametric formula for aggregating microeconomic shocks in general equilibrium economies with distortions such as taxes, markups, frictions to resource reallocation, and nominal rigidities. We show that the macroeconomic impact of a shock can be boiled down into two components: its “pure” technology effect; and its effect on… CONTINUE READING

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