The Network Origins of Aggregate Fluctuations

The Network Origins of Aggregate Fluctuations

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This paper argues that in the presence of intersectoral input-output linkages, microeconomic idiosyncratic shocks may lead to aggregate fluctuations. In particular, it shows that, as the economy becomes more disaggregated, the rate at which aggregate volatility decays is determined by the structure...

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Bibliografiske detaljer
Main Authors: Acemoglu, Daron, Carvalho, Vasco, Ozdaglar, Asuman, Tahbaz-Salehi, Alireza
Format: Working Paper
Sprog:en_US
Udgivet: Cambridge, MA: Department of Economics, Massachusetts Institute of Technology 2011
Fag:
Business cycle
aggregate volatility
diversification
input-output linkages
intersectoral network
cascades
Online adgang:http://hdl.handle.net/1721.1/66965

Internet

http://hdl.handle.net/1721.1/66965

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