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Dynamical Structure and Spectral Properties of Input-Output Networks

Liu, Ernest; Tsyvinski, Aleh - 2022

We associate a dynamical system with input-output networks and study its spectral properties. Specifically, we develop a dynamic production network model featuring adjustment costs of changing inputs and thus gradual recovery from temporary TFP shocks. First, we explicitly solve for the output...

Persistent link: https://www.econbiz.de/10014090290

Macroeconomics with Heterogeneous Agents and Input-Output Networks

Baqaee, David Rezza - 2018

The goal of this paper is to simultaneously unbundle two interacting reduced-form building blocks of traditional macroeconomic models: the representative agent and the aggregate production function. We introduce a broad class of disaggregated general equilibrium models with Heterogeneous Agents...

Persistent link: https://www.econbiz.de/10012916627

Internalizing Global Value Chains : A Firm-Level Analysis

Alfaro, Laura - 2015

In recent decades, advances in information and communication technology and falling trade barriers have led firms to retain within their boundaries and in their domestic economies only a subset of their production stages. A key decision facing firms worldwide is the extent of control to exert...

Persistent link: https://www.econbiz.de/10013014670

Monetary Policy Through Production Networks : Evidence from the Stock Market

Ozdagli, Ali K. - 2017

Monetary policy shocks have a large impact on stock returns in narrow windows around press releases by the Federal Reserve. We use spatial autoregressions to decompose the overall effect of monetary policy shocks into a direct effect and an indirect (network) effect. We attribute 50%-85% of the...

Persistent link: https://www.econbiz.de/10012955942

Distortions and the Structure of the World Economy

Caliendo, Lorenzo - 2017

We develop a model of the world economy as input-output relationships subject to distortions. We then propose a methodology to solve the identification problem, common to the literature on misallocation in input-output relationships, of separating sectoral TFPs from the sectoral distortions....

Persistent link: https://www.econbiz.de/10012958578

Networks and the Macroeconomy : An Empirical Exploration

Acemoglu, Daron - 2015

through the input-output network, with a pattern broadly consistent with theory. Quantitatively, the network-based propagation …

Persistent link: https://www.econbiz.de/10013019498

Quantifying International Production Sharing at the Bilateral and Sector Levels

Wang, Zhi - 2013

This paper generalizes the gross exports accounting framework, initially proposed by Koopman, Wang, and Wei (2014) for a country's aggregate exports, to one at the sector, bilateral, and bilateral-sector levels. Such a generalization requires a conceptual distinction between value added exports...

Persistent link: https://www.econbiz.de/10013072571

Global Value Chains and Effective Exchange Rates at the Country-Sector Level

Patel, Nikhil - 2014

The real effective exchange rate (REER) is one of the most cited statistical constructs in open-economy macroeconomics. We show that the models used to compute these numbers are not rich enough to allow for the rising importance of global value chains. Moreover, because different sectors within...

Persistent link: https://www.econbiz.de/10013052107

Misallocation, Economic Growth, and Input-Output Economics

Jones, Charles I. - 2011

One of the most important developments in the growth literature of the last decade is the enhanced appreciation of the role that the misallocation of resources plays in helping us understand income differences across countries. Misallocation at the micro level typically reduces total factor...

Persistent link: https://www.econbiz.de/10013130964

What Can Economics Say About Alzheimer's Disease?

Chandra, Amitabh - 2020

States. We describe the central economic questions raised by AD. While there is overlap with the economics of aging, the … defining features of the ‘economics of Alzheimer's Disease' is an emphasis on cognitive decline, choice by cognitively impaired … public programs for AD. These topics overlap with many areas of economics -- labor economics, health economics, public …

Persistent link: https://www.econbiz.de/10012824275

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