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?
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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Cites
(2019) · AEA Papers and Proceedings · doi:10.1257/pandp.109.612 · Cited by 10,902
Globalization and the Gains From Variety
Broda, C., & Weinstein, D. E. (2006) · The Quarterly Journal of Economics · doi:10.1162/qjec.2006.121.2.541 · Cited by 2,478
The Network Origins of Aggregate Fluctuations
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Reallocation, Firm Turnover, and Efficiency: Selection on Productivity or Profitability?
Foster, L., Haltiwanger, J., & Syverson, C. (2008) · American Economic Review · doi:10.1257/aer.98.1.394 · Cited by 1,861
Raising the Speed Limit: U.S. Economic Growth in the Information Age
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The Granular Origins of Aggregate Fluctuations
(2011) · Econometrica · doi:10.3982/ecta8769 · Cited by 1,331
Structural Change in a Multisector Model of Growth
Ngai, L. R., & Pissarides, C. (2007) · The American Economic Review · doi:10.1257/000282807780323460 · Cited by 1,213
Are Technology Improvements Contractionary?
Basu, S., Fernald, J. G., & Kimball, M. S. (2006) · American Economic Review · doi:10.1257/aer.96.5.1418 · Cited by 878
Chetty, R., Guren, A., Manoli, D., & Weber, A. (2011) · American Economic Review · doi:10.1257/aer.101.3.471 · Cited by 852
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
“Productivity and Misallocation in General Equilibrium”
Baqaee, D. R., & Farhi, E. (2020) · The Quarterly Journal of Economics · doi:10.1093/qje/qjz030 · Cited by 648
Input Linkages and the Transmission of Shocks: Firm-Level Evidence from the 2011 Tōhoku Earthquake
Boehm, C. E., Flaaen, A., & Pandalai-Nayar, N. (2019) · The Review of Economics and Statistics · doi:10.1162/rest_a_00750 · Cited by 616
Global supply chains in the pandemic
Bonadio, B., Huo, Z., Levchenko, A. A., & Pandalai-Nayar, N. (2021) · Journal of International Economics · doi:10.1016/j.jinteco.2021.103534 · Cited by 396
Carvalho, V. M., & Tahbaz-Salehi, A. (2019) · Annual Review of Economics · doi:10.1146/annurev-economics-080218-030212 · Cited by 384
Metadata
- Authors
- Atalay, E.
- Venue
- American Economic Journal: Macroeconomics
- Publisher
- American Economic Association
- 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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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.