The Network Origins of Large Economic Downturns
This paper shows that large economic downturns may result from the propagation of microeconomic shocks over the input-output linkages across different firms or sectors within the economy. Building on the framework of Acemoglu et al. (2012), we argue that the economy’s input-output structure can fund...
| Main Authors: | , , |
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| Format: | Working Paper |
| Published: |
Cambridge, MA: Department of Economics, Massachusetts Institute of Technology
2013
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| Subjects: | |
| Online Access: | http://hdl.handle.net/1721.1/81783 |