Hauzenberger, Niko; Pfarrhofer, Michael - 2019
network effects of US monetary policy on the industry level. Second, we account for cross-sectional heterogeneity and cluster … network effects varies strongly over time. In particular, US recessions tend to coincide with periods where between 40 to 60 … percent of the overall effects can be attributed to network effects; expansionary economic episodes show muted network effects …
