Mishel Ghassibe 🇺🇦
@mickeygb.bsky.social
Researcher @ CREi | Affiliated Professor @ Barcelona School of Economics| Ex @ National Bank of Ukraine | PhD @ Oxford | Trinity College, Cambridge alum | From Vinnytsia, Ukraine
🌐 https://sites.google.com/view/mishel-ghassibe
🌐 https://sites.google.com/view/mishel-ghassibe
Reposted by Mishel Ghassibe 🇺🇦
If you are in Cambridge, don't miss out on this session including fascinating papers by @mickeygb.bsky.social
and @benmoll.bsky.social
and @benmoll.bsky.social
July 10, 2025 at 2:54 PM
If you are in Cambridge, don't miss out on this session including fascinating papers by @mickeygb.bsky.social
and @benmoll.bsky.social
and @benmoll.bsky.social
Joint work with Boromeus Wanengkirtyo and @iyotzov.bsky.social
Link: www.bankofengland.co.uk/working-pape...
Link: www.bankofengland.co.uk/working-pape...
Intertemporal pass-through
Staff working papers set out research in progress by our staff, with the aim of encouraging comments and debate.
www.bankofengland.co.uk
June 20, 2025 at 3:23 PM
Joint work with Boromeus Wanengkirtyo and @iyotzov.bsky.social
Link: www.bankofengland.co.uk/working-pape...
Link: www.bankofengland.co.uk/working-pape...
At the same time, interaction of networks with demand shocks produces a realistically flat Phillips Curve!
Unlike in standard models, substantial money non-neutrality and strong inflationary episodes co-exist WITHOUT the reduced-form markup shocks.
Comments welcome!
Unlike in standard models, substantial money non-neutrality and strong inflationary episodes co-exist WITHOUT the reduced-form markup shocks.
Comments welcome!
May 28, 2025 at 11:47 AM
At the same time, interaction of networks with demand shocks produces a realistically flat Phillips Curve!
Unlike in standard models, substantial money non-neutrality and strong inflationary episodes co-exist WITHOUT the reduced-form markup shocks.
Comments welcome!
Unlike in standard models, substantial money non-neutrality and strong inflationary episodes co-exist WITHOUT the reduced-form markup shocks.
Comments welcome!
Interaction of pricing cascades with supply shocks is key for explaining the observed patterns in the post-Covid era!
Feeding in the observed shocks to energy and food prices (only TWO sectors) explains AGGREGATE inflation and adjustment frequency in the Euro Area
Feeding in the observed shocks to energy and food prices (only TWO sectors) explains AGGREGATE inflation and adjustment frequency in the Euro Area
May 28, 2025 at 11:47 AM
Interaction of pricing cascades with supply shocks is key for explaining the observed patterns in the post-Covid era!
Feeding in the observed shocks to energy and food prices (only TWO sectors) explains AGGREGATE inflation and adjustment frequency in the Euro Area
Feeding in the observed shocks to energy and food prices (only TWO sectors) explains AGGREGATE inflation and adjustment frequency in the Euro Area
KEY: networks interact differently with supply and demand shocks
SUPPLY: networks *strengthen* cascades, creating a reinforcing double whammy of increases in inflation and frequency
DEMAND: networks *dampen* cascades, generating mild inflation and strong money non-neutrality
SUPPLY: networks *strengthen* cascades, creating a reinforcing double whammy of increases in inflation and frequency
DEMAND: networks *dampen* cascades, generating mild inflation and strong money non-neutrality
May 28, 2025 at 11:47 AM
KEY: networks interact differently with supply and demand shocks
SUPPLY: networks *strengthen* cascades, creating a reinforcing double whammy of increases in inflation and frequency
DEMAND: networks *dampen* cascades, generating mild inflation and strong money non-neutrality
SUPPLY: networks *strengthen* cascades, creating a reinforcing double whammy of increases in inflation and frequency
DEMAND: networks *dampen* cascades, generating mild inflation and strong money non-neutrality
Combine three minimal ingredients to rationalize observed patterns:
1⃣Multi-sector setup with production networks
2⃣State-dependent pricing
3⃣Fully non-linear solutions
The interaction of the three creates a novel channel of non-linearity in inflation dynamics: pricing CASCADES
1⃣Multi-sector setup with production networks
2⃣State-dependent pricing
3⃣Fully non-linear solutions
The interaction of the three creates a novel channel of non-linearity in inflation dynamics: pricing CASCADES
May 28, 2025 at 11:47 AM
Combine three minimal ingredients to rationalize observed patterns:
1⃣Multi-sector setup with production networks
2⃣State-dependent pricing
3⃣Fully non-linear solutions
The interaction of the three creates a novel channel of non-linearity in inflation dynamics: pricing CASCADES
1⃣Multi-sector setup with production networks
2⃣State-dependent pricing
3⃣Fully non-linear solutions
The interaction of the three creates a novel channel of non-linearity in inflation dynamics: pricing CASCADES