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tobiasrenkin · Oct 16, 2024 · b2b055e · b2b055e
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diff --git a/CV.pdf b/CV.pdf
diff --git a/index.html b/index.html
@@ -67,7 +67,7 @@ <h2>Publications</h2>
 
     <a href="https://www.aeaweb.org/articles?id=10.1257/mac.20220079&from=f" target="_blank"><b>Credit Supply Shocks and Prices: Evidence from Danish Firms</b></a>, with
         <a href="https://gabrielzuellig.ch/" target="_blank">Gabriel Züllig</a>.
-    <b>American Economic Journal: Macroeconomics</b> (2024), Vol. 16, No. 2, pp. 1-28.
+    <b>American Economic Journal: Macroeconomics</b> (2024), Vol. 16, No. 2, pp. 1-28 (Lead article).
 
    	<p style="margin-left:6px">Abstract: We study the response of firms’ output prices to a cut in credit supply. We combine data on loans between Danish firms and banks with survey-based producer prices and transaction-based export unit values. Exploiting banks’ heterogeneous exposure to the global financial crisis, we show that loans to firms with relationships to exposed banks drop and lending rates increase. In response, firms raise prices by 3–5%. This effect is decreasing in the elasticity of firms’ demand but positive for most industrial production. Our results support the idea that firms use price increases to raise cash when external sources of liquidity dry up.</p>
 
@@ -269,7 +269,7 @@ <h2>Dormant Projects</h2>
 
 <footer>
 	Disclaimer: Materials on this website are personal and do not reflect the positions of Danmarks Nationalbank.
-	Last updated: 2024-09-28
+	Last updated: 2024-10-16
 </footer>