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The network origins of aggregate fluctuations
Acemoglu, Daron; Carvalho, Vasco M.; Ozdaglar, Asuman E.; … - 2011
aggregate volatility decays is determined by the structure of the network capturing such linkages. Our main results provide a …, but also indirectly to the rest of the economy. Our results highlight that sizable aggregate volatility is obtained from …
Persistent link: https://www.econbiz.de/10009489113
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The Network Origins of Aggregate Fluctuations
Acemoglu, Daron; Carvalho, Vasco M.; Ozdaglar, Asuman E.; … - 2012
volatility decays is determined by the structure of the network capturing such linkages. Our main results provide a …, but also to the rest of the economy. Our results highlight that sizable aggregate volatility is obtained from sectoral …
Persistent link: https://www.econbiz.de/10014042387
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The Network Origins of Large Economic Downturns
Acemoglu, Daron - 2013
, aggregate volatility is not necessarily a sufficient statistic for the likelihood of large downturns. Rather, depending on the …
Persistent link: https://www.econbiz.de/10013079041
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INSTITUTIONS AS THE FUNDAMENTAL CAUSE OF LONG-RUN GROWTH
Acemoglu, Daron; Johnson, Simon; Robinson, James - UNIVERSIDAD DE LOS ANDES-CEDE - 2004
This paper develops the empirical and theoretical case that differences in economic institutions are the fundamental cause of differences in economic development. We first document the empirical importance of institutions by focusing on wo quasi-natural experiments" in history, the division of...
Persistent link: https://www.econbiz.de/10005249808
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Networks and the macroeconomy : an empirical exploration
Acemoglu, Daron; Akcigit, Ufuk; Kerr, William R. - 2015
The propagation of macroeconomic shocks through input-output and geographic networks can be a powerful driver of macroeconomic fluctuations. We first exposit that in the presence of Cobb-Douglas production functions and consumer preferences, there is a specific pattern of economic transmission...
Persistent link: https://www.econbiz.de/10011305281
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Cascades in Networks and Aggregate Volatility
Acemoglu, Daron - 2010
the supply network determine both whether aggregate volatility disappears as the number of sectors increases (i …-output relations) and aggregate volatility, and more importantly, the relationship between higher-order interconnections and aggregate … volatility. These higher-order interconnections capture the cascade effects, whereby low productivity or the failure of a set of …
Persistent link: https://www.econbiz.de/10012462141
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Microeconomic origins of macroeconomic tail risks
Acemoglu, Daron; Ozdaglar, Asuman E.; Tahbaz-Salehi, Alireza - 2015
Persistent link: https://www.econbiz.de/10011347414
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Cascades in Networks and Aggregate Volatility
Acemoglu, Daron - 2010
the supply network determine both whether aggregate volatility disappears as the number of sectors increases (i …-output relations) and aggregate volatility, and more importantly, the relationship between higher-order interconnections and aggregate … volatility. These higher-order interconnections capture the cascade effects, whereby low productivity or the failure of a set of …
Persistent link: https://www.econbiz.de/10013136361
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The network origins of aggregate fluctuations
Acemoglu, Daron; Carvalho, Vasco; Ozdaglar, Asuman; … - Department of Economics and Business, Universitat … - 2011
aggregate volatility decays is determined by the structure of the network capturing such linkages. Our main results provide a …, but also indirectly to the rest of the economy. Our results highlight that sizable aggregate volatility is obtained from …
Persistent link: https://www.econbiz.de/10009351454
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Search with multi-worker firms
Hawkins, William B.; Acemoglu, Daron - In: Theoretical Economics 9 (2014) 3
We present a generalization of the standard random-search model of unemployment in which firms hire multiple workers and in which the hiring process is time-consuming as well as costly. We follow Stole and Zwiebel (1996a,b) and assume that wages are determined by continuous bargaining between...
Persistent link: https://www.econbiz.de/10010934644