| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP15074 |
| DP15074 Firms, Failures, and Fluctuations: The Macroeconomics of Supply Chain Disruptions | |
| Daron Acemoğlu; Alireza Tahbaz-Salehi | |
| 发表日期 | 2020-07-20 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | This paper studies how firm failures and the resulting disruptions to supply chains can amplify negative shocks. We develop a non-competitive model where customized supplier-customer relations increase productivity, and the relationship-specific surplus generated between firms and their suppliers is divided via bargaining. Changes in productivity alter the distribution of surplus throughout the economy and determine which firms are at the margin of failure. A firm’s failure may spread to its suppliers and customers and to firms in other parts of the production network. We provide existence, uniqueness, and a series of comparative statics results, and show how the response of the equilibrium production network may propagate recessionary shocks. |
| 主题 | Industrial Organization ; Macroeconomics and Growth |
| 关键词 | Amplification Bargaining Business cycles Economic fluctuations Production networks Relationship-specific surplus Supply chains |
| URL | https://cepr.org/publications/dp15074 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/544030 |
| 推荐引用方式 GB/T 7714 | Daron Acemoğlu,Alireza Tahbaz-Salehi. DP15074 Firms, Failures, and Fluctuations: The Macroeconomics of Supply Chain Disruptions. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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