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Acemoglu Et Al. (2012) by sjmin711 is a document available to read on EtoBox.
This paper explores how microeconomic idiosyncratic shocks can lead to aggregate fluctuations in the presence of intersectoral input-output linkages. It demonstrates that the structure of these linkages significantly affects the rate at which aggregate volatility decays, suggesting that sectoral shocks can have substantial aggregate effects, particularly when there is asymmetry in the roles of different sectors. The findings challenge the traditional diversification argument in macroeconomics, highlighting
- Author
- sjmin711
- Language
- EN