{ "143302-21892657": { "datetime_modified":"20260203T093715", "datetime_start":"20260414T113000", "datetime_end":"20260414T125000", "has_end_time":1, "date_start":"2026-04-14", "date_end":"2026-04-14", "time_start":"11:30:00", "time_end":"12:50:00", "time_zone":"America\/Detroit", "event_title":"Lock-in and productive innovations: implications for firm-to-firm innovation pass-through", "occurrence_title":"", "combined_title":"Lock-in and productive innovations: implications for firm-to-firm innovation pass-through: Luc\u00eda Casal, Columbia Business School", "event_subtitle":"Luc\u00eda Casal, Columbia Business School", "event_type":"Workshop \/ Seminar", "event_type_id":"21", "description":"Firms innovate to improve efficiency and reduce their costs of production (productive innovations) and to increase customer dependency by reducing the substitutability of their products (lock-in innovations). In this paper, I quantitatively study the macroeconomic implications of lock-in innovations for aggregate productivity and market power. I develop a theoretical framework that allows firms to invest in lock-in innovations by reducing product substitutability, while also nesting standard macroeconomic models of productive innovations. A key prediction of the model is that productive innovations by suppliers increase customer firms\u2019 sales by lowering input costs, while lock-in innovations decrease customer firms' sales by allowing suppliers to charge higher prices for products that are harder to substitute. I use this theoretical insight to identify the nature of innovation in the data and calibrate the model to the U.S. economy. Informed by the observed changes in the response of customer firms' sales to their suppliers' innovations, I find that the incidence of lock-in innovations among high-markup firms has increased significantly in the post-2000 period. Moreover, had the incidence of lock-in innovations remained at pre-2000 levels, observed aggregate productivity would have been 3% higher, median markups would have stayed at pre-2000 levels, and markup dispersion would have been 9% lower.", "occurrence_notes":null, "guid":"143302-21892657@events.umich.edu", "permalink":"http:\/\/events.umich.edu\/event\/143302", "building_id":"1005177", "building_name":"North Quad", "campus_maps_id":"553", "room":"4325", "location_name":"North Quad", "has_livestream":0, "cost":"", "tags":["Economics","Macroeconomics","seminar"], "website":"http:\/\/www.lsa.umich.edu\/econ", "sponsors":[ { "group_name":"Michael Beauregard Seminar in Macroeconomics", "group_id":"3552", "website":"" } ], "image_url":"https:\/\/events.umich.edu\/media\/attachments\/2026\/02\/event_143302_original-1.jpg", "styled_images":{ "event_thumb":"https:\/\/events.umich.edu\/media\/cache\/event_thumb\/media\/attachments\/2026\/02\/event_143302_original-1.jpg", "event_large":"https:\/\/events.umich.edu\/media\/cache\/event_large\/media\/attachments\/2026\/02\/event_143302_original-1.jpg", "event_large_2x":"https:\/\/events.umich.edu\/media\/cache\/event_large_2x\/media\/attachments\/2026\/02\/event_143302_original-1.jpg", "event_large_lightbox":"https:\/\/events.umich.edu\/media\/cache\/event_large_lightbox\/media\/attachments\/2026\/02\/event_143302_original-1.jpg", "group_thumb":"https:\/\/events.umich.edu\/media\/cache\/group_thumb\/media\/attachments\/2026\/02\/event_143302_original-1.jpg", "group_thumb_square":"https:\/\/events.umich.edu\/media\/cache\/group_thumb_square\/media\/attachments\/2026\/02\/event_143302_original-1.jpg", "group_large":"https:\/\/events.umich.edu\/media\/cache\/group_large\/media\/attachments\/2026\/02\/event_143302_original-1.jpg", "group_large_lightbox":"https:\/\/events.umich.edu\/media\/cache\/group_large_lightbox\/media\/attachments\/2026\/02\/event_143302_original-1.jpg", "event_large_crop":"https:\/\/events.umich.edu\/media\/cache\/event_large_crop\/media\/attachments\/2026\/02\/event_143302_original-1.jpg", "event_list":"https:\/\/events.umich.edu\/media\/cache\/event_list\/media\/attachments\/2026\/02\/event_143302_original-1.jpg", "event_list_2x":"https:\/\/events.umich.edu\/media\/cache\/event_list_2x\/media\/attachments\/2026\/02\/event_143302_original-1.jpg", "event_grid":"https:\/\/events.umich.edu\/media\/cache\/event_grid\/media\/attachments\/2026\/02\/event_143302_original-1.jpg", "event_grid_2x":"https:\/\/events.umich.edu\/media\/cache\/event_grid_2x\/media\/attachments\/2026\/02\/event_143302_original-1.jpg", "event_feature_large":"https:\/\/events.umich.edu\/media\/cache\/event_feature_large\/media\/attachments\/2026\/02\/event_143302_original-1.jpg", "event_feature_thumb":"https:\/\/events.umich.edu\/media\/cache\/event_feature_thumb\/media\/attachments\/2026\/02\/event_143302_original-1.jpg" }, "occurrence_count":1, "first_occurrence":21892657 } , "143303-21892658": { "datetime_modified":"20260413T092642", "datetime_start":"20260421T113000", "datetime_end":"20260421T125000", "has_end_time":1, "date_start":"2026-04-21", "date_end":"2026-04-21", "time_start":"11:30:00", "time_end":"12:50:00", "time_zone":"America\/Detroit", "event_title":"Why Are Some Recoveries Weak and Others Strong?", "occurrence_title":"", "combined_title":"Why Are Some Recoveries Weak and Others Strong?: Johannes Wieland, University of California, San Diego", "event_subtitle":"Johannes Wieland, University of California, San Diego", "event_type":"Workshop \/ Seminar", "event_type_id":"21", "description":"Why were the recoveries from the 1990-1, 2001, and 2007-9 recessions weak relative to other postwar recessions? Leveraging heterogeneous exposure to the national business cycle across U.S. States, we estimate the trajectory of more exposed U.S. States relative to less exposed U.S. States. For the 1990-1, 2001, and 2007-9 recessions we estimate that more exposed States experienced a stronger boom-bust cycle and for the other postwar recessions we estimate a deeper V-shaped recession in more exposed States. Our estimates support theories that these recessions are caused by different shocks. In a quantitative model matched to our cross-sectional estimates, boom-bust cycles persistently depress the natural rate of interest R\u2217 in the recovery, whereas R\u2217 is elevated following V-shaped recessions", "occurrence_notes":null, "guid":"143303-21892658@events.umich.edu", "permalink":"http:\/\/events.umich.edu\/event\/143303", "building_id":"1005177", "building_name":"North Quad", "campus_maps_id":"553", "room":"4325", "location_name":"North Quad", "has_livestream":0, "cost":"", "tags":["Economics","Macroeconomics","seminar"], "website":"http:\/\/www.lsa.umich.edu\/econ", "sponsors":[ { "group_name":"Michael Beauregard Seminar in Macroeconomics", "group_id":"3552", "website":"" } ], "image_url":"https:\/\/events.umich.edu\/media\/attachments\/2026\/01\/event_143303_original-1.png", "styled_images":{ "event_thumb":"https:\/\/events.umich.edu\/media\/cache\/event_thumb\/media\/attachments\/2026\/01\/event_143303_original-1.png", 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