主题：Procyclical Productivity in New Keynesian Models
主讲人：邱哲圣 香港科技大学
主持人：王彬 暨南大学
时间：2026年5月11日（周一）下午15:00-16:30
地点：暨南大学石牌校区经济学院大楼（中惠楼）102室
摘要
We study how micro-level capacity activation reshapes aggregate monetary transmission. Firms install capacity in advance, but only a fraction is activated each period because households search across markets, making measured productivity endogenous to demand. The aggregate strength of this mechanism is summarized by a small set of sufficient statistics, which we discipline using firm-level accounting data. The evidence points to a strong activation margin in services but a weak one in storable-goods sectors, a cross-sector pattern not explained by price adjustment, fixed costs, or conventional capital utilization alone. In a medium-scale NK model, this mechanism reallocates productivity variation away from technology shocks, reshapes markup cyclicality, rationalizes the labor-share response to monetary shocks, and flattens the Phillips curve.
主讲人简介
邱哲圣，香港科技大学商学院访问助理教授，宾夕法尼亚大学（University of Pennsylvania）经济学博士。本科毕业于中国人民大学。曾任香港城市大学的助理教授。研究方向为宏观经济学经济周期，所著论文发表于 Journal of Monetary Economics和《经济研究》等国内外一流期刊。主讲课程包括宏观经济学原理、中级宏观经济学、高级宏观经济学、经济增长和与发展等。
校对|王彬
责编| 彭毅
初审| 李仲达
终审发布| 何凌云
（来源：暨南大学经济学院微信公众号）
