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The DOI matches its Crossref record; 23 of the 23 references it cites were found in a registry or an index.

How Important Are Sectoral Shocks?

Atalay, Enghin·2017·American Economic Journal: Macroeconomics

Abstract

I quantify the contribution of sectoral shocks to business cycle fluctuations in aggregate output. I develop and estimate a multi-industry general equilibrium model in which each industry employs the material and capital goods produced by other sectors. Using data on US industries' input prices and input choices, I find that the goods produced by different industries are complements to one another as inputs in downstream industries' production functions. These complementarities indicate that industry-specific shocks are substantially more important than previously thought, accounting for at least half of aggregate volatility. (JEL D12, D24, E23, E32, L14)

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Metadata

Authors
Atalay, E.
Venue
American Economic Journal: Macroeconomics
Published
2017-10-01
Volume
9
Issue
4
Pages
254-280
ISSN
  • 1945-7707 (ISSN-L)
  • 1945-7715
OpenAlex
W349361653
Cited by
370
References
23
FWCI
79.65
Type
journal article
Language
en
Open access
closed

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CoChat. (2026). Citation check: How Important Are Sectoral Shocks? https://app.cochat.ai/papers/10.1257/mac.20160353
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Atalay, E. (2017). How Important Are Sectoral Shocks? American Economic Journal: Macroeconomics. https://doi.org/10.1257/mac.20160353

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