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Institutions as the Fundamental Cause of Long-Run Growth
Acemoglu, Daron; Johnson, Simon; Robinson, James Alan - National Bureau of Economic Research (NBER) - 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 two 'quasi-natural experiments' in history, the division of...
Persistent link: https://www.econbiz.de/10005105852
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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/10011491706
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Cascades in networks and aggregate volatility
Acemoglu, Daron; Ozdaglar, Asuman E.; Tahbaz-Salehi, Alireza - 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/10008738431
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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/10010485562
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Microeconomic origins of macroeconomic tail risks
Acemoglu, Daron; Ozdaglar, Asuman E.; Tahbaz-Salehi, Alireza - In: The American economic review 107 (2017) 1, pp. 54-108
Persistent link: https://www.econbiz.de/10011643426
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The Network Origins of Large Economic Downturns
Acemoglu, Daron; Ozdaglar, Asuman; Tahbaz-Salehi, Alireza - National Bureau of Economic Research (NBER) - 2013
volatility is not necessarily a sufficient statistic for the likelihood of large downturns. Rather, depending on the shape of the …
Persistent link: https://www.econbiz.de/10010950877
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Cascades in Networks and Aggregate Volatility
Acemoglu, Daron; Ozdaglar, Asuman; Tahbaz-Salehi, Alireza - National Bureau of Economic Research (NBER) - 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/10008695044
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Microeconomic Origins of Macroeconomic Tail Risks
Acemoglu, Daron; Ozdaglar, Asuman; Tahbaz-Salehi, Alireza - National Bureau of Economic Research (NBER) - 2015
We document that even though the normal distribution is a good approximation to the nature of aggregate fluctuations, it severely underpredicts the frequency of large economic downturns. We then provide a model that can explain these facts simultaneously. Our model show that the propagation of...
Persistent link: https://www.econbiz.de/10011123646
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Robust comparative statics in large dynamic economies
Acemoglu, Daron; Jensen, Martin Kaae - 2012
Persistent link: https://www.econbiz.de/10009562140
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Social mobility and stability of democracy : re-evaluation De Tocqueville
Acemoglu, Daron; Egorov, Georgij V.; Sonin, Konstantin - 2016
Persistent link: https://www.econbiz.de/10011494391