Joseph Vavra
Biographic Data
| ID | 5867736 |
|---|---|
| NAME | Joseph Vavra |
| GIVEN NAMES | Joseph |
| FAMILY NAME | Vavra |
| SIGNATURE | VAVRA J |
| AFFILIATIONS | National Bureau of Economic Research |
| VERIFIED | No |
| TOTAL WORKS | 3 |
| TOTAL CITATIONS | 12 |
| AUTHOR COUNT | 3 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 2018 |
| LATEST PUBLICATION YEAR | 2021 |
| H-INDEX | 1 |
Tracking the Pandemic in Real Time
In this paper I discuss the increasingly prominent role of administrative micro data in macroeconomics research. This type of data proved important for interpreting the causes and consequences of the Great Recession, and it has played a crucial role in shaping economists’ understanding of the COVID-19 pandemic in near real-time. I discuss a number of specific insights from this research while also illustrating some of the broader opportunities an…
Shocks versus Responsiveness
The dispersion of many economic variables is countercyclical. What drives this fact? Greater dispersion could arise from greater volatility of shocks or from agents responding more to shocks of constant size. Without data separately measuring exogenous shocks and endogenous responses, a theoretical debate between these explanations has emerged. In this paper, we provide novel identification using price data in the open-economy environment: using …
House Prices, Local Demand, and Retail Prices
We document a causal response of local retail prices to changes in local house prices, with elasticities of 15–20 percent across housing cycles. These price responses are largest in zip codes with many homeowners and are driven by changes in markups rather than local costs. We argue that markups rise with house prices because greater housing wealth reduces homeowners' demand elasticity, and firms raise markups in response. Shopping data confirm t…
House Prices, Local Demand, and Retail Prices
We document a causal response of local retail prices to changes in local house prices, with elasticities of 15–20 percent across housing cycles. These price responses are largest in zip codes with many homeowners and are driven by changes in markups rather than local costs. We argue that markups rise with house prices because greater housing wealth reduces homeowners' demand elasticity, and firms raise markups in response. Shopping data confirm t…
Shocks versus Responsiveness
The dispersion of many economic variables is countercyclical. What drives this fact? Greater dispersion could arise from greater volatility of shocks or from agents responding more to shocks of constant size. Without data separately measuring exogenous shocks and endogenous responses, a theoretical debate between these explanations has emerged. In this paper, we provide novel identification using price data in the open-economy environment: using …
Shocks versus Responsiveness
The dispersion of many economic variables is countercyclical. What drives this fact? Greater dispersion could arise from greater volatility of shocks or from agents responding more to shocks of constant size. Without data separately measuring exogenous shocks and endogenous responses, a theoretical debate between these explanations has emerged. In this paper, we provide novel identification using price data in the open-economy environment: using …
House Prices, Local Demand, and Retail Prices
We document a causal response of local retail prices to changes in local house prices, with elasticities of 15–20 percent across housing cycles. These price responses are largest in zip codes with many homeowners and are driven by changes in markups rather than local costs. We argue that markups rise with house prices because greater housing wealth reduces homeowners' demand elasticity, and firms raise markups in response. Shopping data confirm t…
Tracking the Pandemic in Real Time
In this paper I discuss the increasingly prominent role of administrative micro data in macroeconomics research. This type of data proved important for interpreting the causes and consequences of the Great Recession, and it has played a crucial role in shaping economists’ understanding of the COVID-19 pandemic in near real-time. I discuss a number of specific insights from this research while also illustrating some of the broader opportunities an…
Economics (3 works) · Market Dynamics and Volatility (2 works) · Monetary economics (2 works) · Monetary Policy and Economic Impact (2 works) · Business cycle (1 works) · Complex Systems and Time Series Analysis (1 works) · Dispersion (optics (1 works) · Econometrics (1 works) · Economic Policies and Impacts (1 works) · Exchange rate (1 works)