Lindbeck, Assar; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 1999
aggregate output changes as result of such shocks. We argue that these phenomena are related to lags between inputs and outputs … economy are interconnected through complex input-output relations, with production lags within individual firms, and that it … takes considerable time for cost and price changes to penetrate the entire input-output system. Our analysis provides a …