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Chapter 6 Institutions as a Fundamental Cause of Long-Run Growth
Acemoglu, Daron; Johnson, Simon; Robinson, James Alan - 2005
. Economic institutions encouraging economic growth emerge when political institutions allocate power to groups with interests in …
Persistent link: https://www.econbiz.de/10014023781
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Innovation network
Acemoglu, Daron; Akcigit, Ufuk; Kerr, William R. - 2016
Persistent link: https://www.econbiz.de/10011876795
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The Network Origins of Aggregate Fluctuations
Acemoglu, Daron; Carvalho, Vasco M.; Ozdaglar, Asuman E.; … - 2012
This paper argues that, in the presence of intersectoral input–output linkages, microeconomic idiosyncratic shocks may lead to aggregate fluctuations. We show that, as the economy becomes more disaggregated, the rate at which aggregate volatility decays is determined by the structure of the...
Persistent link: https://www.econbiz.de/10014042387
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Networks and the Macroeconomy : An Empirical Exploration
Acemoglu, Daron - 2016
the direct impact of a shock and the magnitudes of the downstream and the upstream indirect effects. We then investigate … of the variation in industry imports from China and changes in federal spending) and two supply-side ones (TFP shocks and …, capturing the fact that the local propagation of a shock to an industry will fall more heavily on other industries that tend to …
Persistent link: https://www.econbiz.de/10013002722
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Networks and the Macroeconomy : An Empirical Exploration
Acemoglu, Daron - 2015
the direct impact of a shock and the magnitudes of the downstream and the upstream indirect effects. We then investigate … of the variation in industry imports from China and changes in federal spending) and two supply-side ones (TFP shocks and …, capturing the fact that the local propagation of a shock to an industry will fall more heavily on other industries that tend to …
Persistent link: https://www.econbiz.de/10013019498
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Networks, Shocks, and Systemic Risk
Acemoglu, Daron - 2015
This chapter develops a unified framework for the study of how network interactions can function as a mechanism for propagation and amplification of microeconomic shocks. The framework nests various classes of games over networks, models of macroeconomic risk originating from microeconomic...
Persistent link: https://www.econbiz.de/10013027904
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Networks, Shocks, and Systemic Risk
Acemoglu, Daron - 2015
This chapter develops a unified framework for the study of how network interactions can function as a mechanism for propagation and amplification of microeconomic shocks. The framework nests various classes of games over networks, models of macroeconomic risk originating from microeconomic...
Persistent link: https://www.econbiz.de/10013028546
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Microeconomic Origins of Macroeconomic Tail Risks
Acemoglu, Daron - 2015
We document that even though the normal distribution provides a good approximation to GDP fluctuations, it severely underpredicts “macroeconomic tail risks,” that is, the frequency of large economic downturns. Using a multi-sector general equilibrium model, we show that the interplay of...
Persistent link: https://www.econbiz.de/10013030060
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Microeconomic Origins of Macroeconomic Tail Risks
Acemoglu, Daron - 2015
We document that even though the normal distribution provides a good approximation to GDP fluctuations, it severely underpredicts "macroeconomic tail risks," that is, the frequency of large economic downturns. Using a multi-sector general equilibrium model, we show that the interplay of...
Persistent link: https://www.econbiz.de/10013030251
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Microeconomic Origins of Macroeconomic Tail Risks
Acemoglu, Daron - 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 shows that the propagation of...
Persistent link: https://www.econbiz.de/10013035361