Research

Published Papers

• Measured Productivity with Endogenous Markups and Economic Profits (2021)

  • • Journal of Economic Dynamics and Control

    • Code

    • Endogenous markups and short-run economic profits caused by dynamic firm entry lead measured TFP (Solow residual) to misrepresent underlying technology.

• Labor Responses, Regulation and Business Churn (2021) with Marta Aloi and Huw Dixon

  • • Journal of Money Credit and Banking

    • Supplementary Appendix

    • Labor responses to technology shocks may overshoot or undershoot their long-run level depending on returns to scale at the firm-level.

• Firm Entry, Excess Capacity and Endogenous Productivity (2020) with Huw Dixon

  • • European Economic Review

    • Supplementary Appendix and Code

    • In the short-run absence of firm entry, incumbent firms vary their capacity leading to temporary endogenous productivity effects.

Working Papers

• Revenue Elasticities and Macroeconomic Dynamics (2021) (with Daisoon Kim)

  • • Firm-level revenue elasticity measures are declining in the US which implies weaker propagation of firm-level productivity shocks.

• Product Market Concentration and Productivity in the UK (with Oluwaseun Aguda, Yannis Galanakis, Kyung In Hwang)

  • • Data analysis web app: https://asavagar.shinyapps.io/UK-market-structure/

    • Methodology appendix

• Market Power and TFP in the UK (with Kyung In Hwang)

Policy Papers & Notes

• UK COVID-19 Firm Creation Project (below reports now hosted on the project website)

  • Analyse near real-time data of company registrations in the UK to get an update-to-date picture of the effect of Covid-19 on business creation.

• UK Business Creation during Covid-19 Lockdown (May 2020) with Alfred Duncan and Miguel León-Ledesma

• Report 1 (May 2020) and GitHub site with code detail

  • • • • • Media: Financial Times, Kent TV, Telegraph, Kent Blogs.

    • Report 2 (June 2020)

• • • Economics Observatory (June 2020)

      • • • Media: Telegraph

    • National Institute Economic Review (July 2020)

    • ESCoE conference poster and 5 min video (August 2020)

• Product Market Concentration in the UK: 2006-2015 (2019) with Kyung In Hwang

  • • Analyse Department of Business, Energy and Industrial Strategy (BEIS) data on product market concentration in the UK.