The Network Origins of Aggregate Fluctuations
This paper argues that in the presence of intersectoral input-output linkages, microeconomic idiosyncratic shocks may lead to aggregate fluctuations. We show, as the economy becomes more disaggregated, the rate at which aggregate volatility decays is determined by the structure of the network cap...
| मुख्य लेखकों: | , , , |
|---|---|
| अन्य लेखक: | |
| स्वरूप: | लेख |
| भाषा: | en_US |
| प्रकाशित: |
Econometric Society
2012
|
| ऑनलाइन पहुंच: | http://hdl.handle.net/1721.1/72578 https://orcid.org/0000-0002-1827-1285 https://orcid.org/0000-0003-0908-7491 |