题目： Shopping time, net product creation, and the productive role of demand
摘要： I develop a business cycle model which examines the joint determination of shopping time, product creation, and productivity under shocks to both demand and technology. Shopping helps consumers diversify the consumption basket, and shopping efficiency rises with product availability. The model captures the growth rate of varieties economy-wide, the growth rate of the consumption basket at the household level, and the average time spent shopping. A positive demand shock increases shopping time and therefore the measure of consumers for each firm. Incumbents, in turn, raise output and obtain higher matching efficiency, raising productivity. New firms enter, reducing market share of incumbents and their matching rate. The marginal utility of consumption rises both from greater shopping and product availability, amplifying the original demand shock. Measured productivity rises but is dampened by the congestion effects of firm entry.
主讲人简介：Dr. Mario Silva 毕业于 University of California, Irvine. 主要研究方向： Macroeconomics, Monetary Economics, Labor Economics, Household Finance. 部分研究成果已发表在 Journal of Economic Theory 和 Journal of Economic Dynamics and Control.