This paper analyzes a dynamic general equilibrium model featuring input-output linkages, imperfect competition, and external economies of scale with firm entry and exit. We analytically show the interaction between input-output linkages and firm entry and exit augments the amplification of...

In this paper, we investigate the asymptotic behavior of the portfolio diversification ratio based on Value-at-Risk (quantile) under dependence uncertainty, which we refer to as "worst-case diversification limit." We show that the worst-case diversification limit is equal to the upper limit of...