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Jakob Schneebacher

@jschneebacher.bsky.social

Economist at the IFS (@theifs.bsky.social). Interested in firms, productivity, markets, management and growth. Previously at the CMA, ONS, Nuffield College Oxford. All views my own. www.jakobschneebacher.com

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Jakob Schneebacher@jschneebacher.bsky.social · 10h ago

How are firms responding to the ongoing oil price shock, and how does their response differ from the one to the 2021-2022 gas price shock? Read our @theifs.bsky.social comment to find out: ifs.org.uk/articles/how... 1/2

How are UK firms responding to the ongoing oil supply disruptions? | Institute for Fiscal Studies

New evidence shows the current energy crisis has affected fewer firms than in 2022; two months in, exposed firms responded mainly by raising prices.

ifs.org.uk

The Institute for Fiscal Studies@theifs.bsky.social · 11h ago

NEW: The current energy crisis has so far affected fewer firms than in 2022, new evidence shows. 📗 @trfetzer.com, @christinavpalmou.bsky.social, @jschneebacher.bsky.social & @iyotzov.bsky.social show that exposed firms responded in the first two months mainly with increased prices and inventories:

Quote from IFS Associate Director Jakob Schneebacher: "So far, the 2026 energy price shock has been narrower and less damaging than the 2022 crisis. Higher oil prices seem to have hit the minority of firms that use oil intensively. Based on data up to April, affected firms were more likely to raise their prices, passing on some of the cost increases to customers, and increase their inventories. We have not yet seen widespread effects on firms’ balance sheets or investment decisions, as were seen over the course of the 2022 crisis. But we will need to monitor the effects on firms over the coming months, especially if the most recent spikes in oil prices in July are maintained."
Jakob Schneebacher@jschneebacher.bsky.social · 10h ago

How are firms responding to the ongoing oil price shock, and how does their response differ from the one to the 2021-2022 gas price shock? Read our @theifs.bsky.social comment to find out: ifs.org.uk/articles/how... 1/2

How are UK firms responding to the ongoing oil supply disruptions? | Institute for Fiscal Studies

New evidence shows the current energy crisis has affected fewer firms than in 2022; two months in, exposed firms responded mainly by raising prices.

ifs.org.uk

The Institute for Fiscal Studies@theifs.bsky.social · 11h ago

NEW: The current energy crisis has so far affected fewer firms than in 2022, new evidence shows. 📗 @trfetzer.com, @christinavpalmou.bsky.social, @jschneebacher.bsky.social & @iyotzov.bsky.social show that exposed firms responded in the first two months mainly with increased prices and inventories:

Quote from IFS Associate Director Jakob Schneebacher: "So far, the 2026 energy price shock has been narrower and less damaging than the 2022 crisis. Higher oil prices seem to have hit the minority of firms that use oil intensively. Based on data up to April, affected firms were more likely to raise their prices, passing on some of the cost increases to customers, and increase their inventories. We have not yet seen widespread effects on firms’ balance sheets or investment decisions, as were seen over the course of the 2022 crisis. But we will need to monitor the effects on firms over the coming months, especially if the most recent spikes in oil prices in July are maintained."
Jakob Schneebacher@jschneebacher.bsky.social · last wk.

@johnnyrunge.bsky.social and @econromesh.bsky.social might be particularly interested in this part of the update. (Link to the dashboard at the end of the thread.)

Jakob Schneebacher@jschneebacher.bsky.social · 2w ago

Finally, we wanted to give policymakers an easier way to engage with industry-level estimates than the usual appendix tables. So we built a narrative dashboard. Users can explore the estimates industry by industry, and see the assumptions needed for them to cohere into a single story. 9/

Mihai Codreanu@mihaicod.bsky.social · 2w ago

Our first Google Econ x AI paper. 15 milion Gemini interactions mapped to over 800 occupations, 4000 tasks, 300 household activities (!), 150 countries and 140 languages. New: hierarchical clustering tool, expertise and task types, mapping to American Time Use activities.

Martin Gaynor@martingaynor.bsky.social · 2w ago

🧵Important new paper by Gaston Illanes and colleagues on the performance of merger simulation. Far from perfect at point prediction, but performs better at distinguishing high from low price change mergers than commonly used alternatives. www.nber.org/papers/w35473

A Large-Scale Evaluation of Merger Simulations

Founded in 1920, the NBER is a private, non-profit, non-partisan organization dedicated to conducting economic research and to disseminating research findings among academics, public policy makers, an...

nber.org

Alex MacKay@amackay.bsky.social · last mo.

Does deregulation reduce prices? In the US electricity sector, studies had shown that deregulated markets led to more efficient production than the traditional model. But there was not much evidence about the impact to consumers.

Max Warner@maxwarner.bsky.social · 2mo ago

It's still unclear what the shift to community will do in the NHS. But in a middle-income context, @bancalaria.bsky.social et al find that El Salvador's multidisciplinary community health teams increased preventative appts, shifted the mix of care and reduced preventable hospitalisations.

Chart showing an increase in preventative consultationsChart showing a fall in preventable hospitalisations for communicable diseases
Peter Levell@peterlevell.bsky.social · 3mo ago

Ever wondered why electricity in the UK is so expensive? And how can renewables be both “nine times cheaper” than fossil fuel but still need subsidies to get built? Then you need to listen to this podcast!

The Institute for Fiscal Studies@theifs.bsky.social · 3mo ago

NEW PODCAST: Why is UK electricity so expensive? @helenmiller.bsky.social, @peterlevell.bsky.social & Dieter Helm discuss Britain’s energy mix, the costs of renewables, net zero targets, and how policy should respond to energy price shocks. 🎧 Listen here: ifs.org.uk/articles/why...

Christine Farquharson@ckfarquharson.bsky.social · 3mo ago

Delighted that @theifs.bsky.social is part of a major new research centre on the economics of education, with @cepeo-ucl.bsky.social and @cep-lse.bsky.social. Summarising existing evidence, generating new research, methodological development, capacity building - and more! ifs.org.uk/news/ifs-par...

IFS part of major new Economics of Education Research Centre to strengthen evidence-based policymaking | Institute for Fiscal Studies

The centre will bring together education economists in academia and in government, to bring the best evidence to bear

ifs.org.uk

Martin Gaynor@martingaynor.bsky.social · 3mo ago

Important new paper by Robert Metcalfe, Alexandre Sollaci & Chad Syverson. They show that proposed mergers that lead to greater market power will have smaller efficiencies & vice versa. This has important implications for enforcement agencies & courts in assessing mergers. www.nber.org/papers/w35221

Proposed Mergers Where Efficiencies Are Needed Most Might Be the Least Likely to Deliver Them

Founded in 1920, the NBER is a private, non-profit, non-partisan organization dedicated to conducting economic research and to disseminating research findings among academics, public policy makers, an...

nber.org

Review of Economics and Statistics (REStat)@restatjournal.bsky.social · 3mo ago

CVS's acquisition of Target's retail pharmacy business reduced pay, especially for low-wage workers. Just Accepted new paper by Enas Farag, Alaa Abdelfattah, Chris Compton, Anna Stansbury @annastansbury.bsky.social and Marshall Steinbaum @econmarshall.bsky.social zurl.co/NvgSz

A Retrospective Analysis of the Acquisition of Target’s Pharmacy Business by CVS Health: Labor Market Perspective

Abstract. We analyze the labor market impact of CVS Health’s acquisition of Target’s pharmacy business in December 2015 using Lightcast job postings data.

zurl.co

Flavien@flavienm.bsky.social · 3mo ago

Cartels distort economies and decrease welfare. In a paper forthcoming AEJ:Macro @aeajournals.bsky.social my coauthor @ludovicpanon.bsky.social build a framework to quantify these losses. #EconSky

Ludovic Panon@ludovicpanon.bsky.social · 3mo ago

So happy to see this paper with @flavienm.bsky.social forthcoming at AEJ: Macro! 💡Cartels distort the allocation of resources. ‼️Collusion by top firms shifts demand toward less efficient producers → aggregate losses. 🔎Productivity ↓ up to 0.4%, welfare ↓ 0.7%

AEA Journals@aeajournals.bsky.social · 3mo ago

Forthcoming in the AER: "Merger Effects and Antitrust Enforcement: Evidence from US Consumer Packaged Goods" by Vivek Bhattacharya, Gastón Illanes, and David Stillerman.

Merger Effects and Antitrust Enforcement: Evidence from US Consumer Packaged Goods

(Forthcoming Article) - We document the effects of a comprehensive set of mergers of US consumer packaged goods manufacturers on prices, quantities, and product assortment. Across specifications, we find a small average price effect of mergers (-0.5% to 1.1%) but substantial heterogeneity in effects, with a standard deviation between 3.9–7.6 pp. Through a model of enforcement, we find that agencies act as if they challenge mergers they expect would increase prices more than 4.8–6.3%. Increases in stringency would reduce prices and the prevalence of completed price-increasing mergers, with minimal impacts on blocked price-decreasing mergers, at a significantly greater agency burden.

aeaweb.org

Jakob Schneebacher@jschneebacher.bsky.social · 4mo ago

My @theifs.bsky.social colleague @gautamvyas.bsky.social is now on Bluesky! Check out his new report, joint with Martin Brogaard, on the Soft Drinks Industry Levy reform, and follow him for more research on nutrition policy.

The Institute for Fiscal Studies@theifs.bsky.social · 4mo ago

NEW: Extensions to the soft drinks sugar levy announced last autumn will affect 12% of soft drinks, but are forecast to have a tiny impact on average sugar consumption. 📊 Martin Brogaard and @gautamvyas.bsky.social’s new report examines changes to the Soft Drinks Industry Levy: [THREAD]

Chart shows reduction in daily calories per person from the implementation of the Soft Drinks Industry Levy and Budget 2025 extensions. Title states: "While the original soft drinks levy reduced average sugar consumption by almost 20kcal per day, the Budget reforms will have almost no effect."