BEGIN:VCALENDAR
VERSION:2.0
PRODID:-//jEvents 2.0 for Joomla//EN
CALSCALE:GREGORIAN
METHOD:PUBLISH
BEGIN:VEVENT
UID:b17bdc33e2247525f5456e529033a040
CATEGORIES:Seminars
CREATED:20250703T051505
SUMMARY:Lunch Seminar: Saroj Bhattarai -University of Texas at Austin
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:\n\nWelfare Cost of Inflation in Production Networks\n\n\nAbstract:\nWe stu
 dy the welfare cost of inflation in a multi-sector sticky pr
 ice model with production networks. We consider both time- and st
 ate-dependent (menu cost) pricing models with firm-specific productivity sh
 ocks, and match sectoral moments of the distribution of price changes 
 in our quantitative exercises. We derive analytical expressions and suffici
 ent statistics for the cost of inflation which illustrate how agg
 regate productivity and labor supply effects of inflation are determined by
  the interaction of heterogeneous input-output linkages and price stickines
 s across sectors. A key mechanism is that in a network economy, m
 is-allocative consequences of inflation are amplified by input-output linka
 ges as they propagate across sectors. Quantitatively, even at low to modera
 te levels of inflation, we find that our calibrated production network mode
 l amplifies the costs of inflation significantly, around 5-15 times, c
 ompared to the one-sector model.\n
DTSTAMP:20260504T140707Z
DTSTART:20250708T130000Z
DTEND:20250708T140000Z
SEQUENCE:0
TRANSP:OPAQUE
END:VEVENT
END:VCALENDAR