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Microeconomic Uncertainty, International Trade, and Aggregate Fluctuations
Alessandria, George - 2014
The extent and direction of causation between micro volatility and business cycles are debated. We examine, empirically and theoretically, the source and effects of fluctuations in the dispersion of producer- level sales and production over the business cycle. On the theoretical side, we study...
Persistent link: https://www.econbiz.de/10012458049
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Credit Lines as Monitored Liquidity Insurance : Theory and Evidence
Acharya, Viral V. - 2013
-seeking behavior by firms. Firms with high liquidity risk are likely to use cash rather than credit lines for liquidity management … because the cost of monitored liquidity insurance increases with liquidity risk. We exploit a quasi-experiment around the … downgrade of General Motors (GM) and Ford in 2005 and find that firms that experienced an exogenous increase in liquidity risk …
Persistent link: https://www.econbiz.de/10012459769
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Input Diffusion and the Evolution of Production Networks
Carvalho, Vasco M. - 2014
The adoption and diffusion of inputs in the production network is at the heart of technological progress. What determines which inputs are initially considered and eventually adopted by innovators? We examine the evolution of input linkages from a network perspective, starting from a stylized...
Persistent link: https://www.econbiz.de/10012458639
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Are Supply Networks Efficiently Resilient?
Capponi, Agostino; Du, Chuan; Stiglitz, Joseph E. - National Bureau of Economic Research - 2024
We show that supply networks are inefficiently, and insufficiently, resilient. Upstream firms can expand their production capacity to hedge against supply and demand shocks. But the social benefits of such investments are not internalized due to market power and market incompleteness. Upstream...
Persistent link: https://www.econbiz.de/10014512075
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Resilience in Vertical Supply Chains
Grossman, Gene M.; Helpman, Elhanan; Sabal, Alejandro - National Bureau of Economic Research - 2023
Forward-looking investments determine the resilience of firms' supply chains. Such investments confer externalities on other firms in the production network. We compare the equilibrium and optimal allocations in a general equilibrium model with an arbitrary number of vertical production tiers....
Persistent link: https://www.econbiz.de/10014372496
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Financial Crises and the Global Supply Network : Evidence from Multinational Enterprises
Basco, Sergi; Felice, Giulia; Merlevede, Bruno; … - National Bureau of Economic Research - 2023
increase in risk premia between August 2007 and July 2012 and build a multinational-specific shock based on the network …
Persistent link: https://www.econbiz.de/10014287317
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Tail Risk in Production Networks
Dew-Becker, Ian - National Bureau of Economic Research - 2022
shock to the sector - a measure of the systemic risk of each sector. Tail centrality is theoretically and empirically very … downstream closeness to final production. The paper then uses the results to analyze the determinants of total tail risk in the … economy to small shocks while increasing the sensitivity to large shocks. Tail risk is strongest in economies that display …
Persistent link: https://www.econbiz.de/10013388835
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Weathering the Storm : Supply Chains and Climate Risk
Castro-Vincenzi, Juanma; Khanna, Gaurav; Morales, Nicolas; … - National Bureau of Economic Research - 2024
We characterize how firms structure supply chains under climate risk. Using new data on the universe of firm …-to-firm transactions from an Indian state, we show that firms diversify sourcing locations, and suppliers exposed to climate risk charge … sourcing under climate risk. Firms diversify identical inputs from suppliers across space, trading off the probability of a …
Persistent link: https://www.econbiz.de/10014512072
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Measuring the Impact of Own and Others’ Experience on Project Costs in the U.S. Wind Generation Industry
Anderson, John W. - 2019
We investigate the relationship between accumulated experience completing wind power projects and the cost of installing wind projects in the U.S. from 2001-2015. Our modeling framework disentangles accumulated experience from input price changes, scale economies, and exogenous technical change;...
Persistent link: https://www.econbiz.de/10012480060
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Maximizing the Impact of Climate Finance : Funding Projects or Pilot Projects?
Kotchen, Matthew J. - 2017
This paper contributes to the understanding of how to maximize the impact of publicly provided climate finance to leverage the private sector. Agencies seeking to promote private investment in support of climate change mitigation and adaptation may have a choice between subsidizing projects or...
Persistent link: https://www.econbiz.de/10012455657