Out-of-equilibrium dynamics and excess volatility in firm networks
We study the conditions under which input-output networks can dynamically attain a competitive equilibrium, where markets clear and profits are zero. We endow a classical firm network model with minimal dynamical rules that reduce supply/demand imbalances and excess profits. We show that the time ne...
| Main Authors: | , , , |
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| Format: | Journal article |
| Language: | English |
| Published: |
Elsevier
2022
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