The DOI matches its Crossref record; 32 of the 32 references it cites were found in a registry or an index.
From Micro to Macro via Production Networks
Open accessAbstract
A modern economy is an intricately linked web of specialized production units, each relying on the flow of inputs from their suppliers to produce their own output which, in turn, is routed towards other downstream units. In this essay, I argue that this network perspective on production linkages can offer novel insights on how local shocks occurring along this production network can propagate across the economy and give rise to aggregate fluctuations. First, I discuss how production networks can be mapped to a standard general equilibrium setup. In particular, through a series of stylized examples, I demonstrate how the propagation of sectoral shocks—and hence aggregate volatility— depends on different arrangements of production, that is, on different “shapes” of the underlying production network. Next I explore, from a network perspective, the empirical properties of a large-scale production network as given by detailed US input-output data. Finally I address how theory and data on production networks can be usefully combined to shed light on comovement and aggregate fluctuations.
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Cites
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Who's Who in Networks. Wanted: The Key Player
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Cited by
Supply Chain Disruptions: Evidence from the Great East Japan Earthquake*
Carvalho, V. M., Nirei, M., Saito, Y. U., & Tahbaz-Salehi, A. (2021) · The Quarterly Journal of Economics · doi:10.1093/qje/qjaa044 · Cited by 939
Self-citationToward understanding the impact of artificial intelligence on labor
Frank, M. R., Autor, D., Bessen, J. E., Brynjolfsson, E., Cebrian, M., Deming, D. J., Feldman, M., Groh, M., Lobo, J., Moro, E., et al. (2019) · Proceedings of the National Academy of Sciences · doi:10.1073/pnas.1900949116 · Cited by 713
Power Laws in Economics: An Introduction
Gabaix, X. (2016) · Journal of Economic Perspectives · doi:10.1257/jep.30.1.185 · Cited by 435
Carvalho, V. M., & Tahbaz-Salehi, A. (2019) · Annual Review of Economics · doi:10.1146/annurev-economics-080218-030212 · Cited by 384
Self-citationSupply Chain Disruptions: Evidence from the Great East Japan Earthquake
Carvalho, V. M., Nirei, M., Saito, Y. U., & Tahbaz-Salehi, A. (2016) · SSRN Electronic Journal · doi:10.2139/ssrn.2893221 · Cited by 381
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Metadata
- Authors
- Carvalho, V. M.
- Venue
- Journal of Economic Perspectives
- Publisher
- American Economic Association
- Published
- 2014-11-01
- Volume
- 28
- Issue
- 4
- Pages
- 23-48
- ISSN
- 0895-3309 (ISSN-L)
- OpenAlex
- W2011674482
- Cited by
- 468
- References
- 32
- FWCI
- 77.36
- Type
- journal article
- Language
- en
- Open access
- bronze
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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
