| 来源类型 | Working Paper
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| 规范类型 | 报告
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| DOI | 10.3386/w28178
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| 来源ID | Working Paper 28178
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| Dynamical Structure and Spectral Properties of Input-Output Networks |
| Ernest Liu; Aleh Tsyvinski
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| 发表日期 | 2020-12-07
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| 出版年 | 2020
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| 语种 | 英语
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| 摘要 | We associate a dynamical system with input-output networks and study its spectral properties. Specifically, we develop a dynamic production network model featuring adjustment costs of changing inputs and thus gradual recovery from temporary TFP shocks. First, we explicitly solve for the output and welfare effects of temporary shocks. We show shocks to sectors that generate significant sales through distant linkages to the consumer are most damaging. Second, we eigendecompose the input-output matrix and show, because higher-order linkages take longer to recover, fewer eigenvectors are needed to represent the welfare impact of sectoral shocks in the dynamic economy compared to the Domar weights. Third, we analyze the U.S. input-output structure and show the welfare impact of temporary shocks has a low-dimensional, 4-factor structure (out of 171 eigenvectors). Finally, we revisit the historical use of input-output analysis in target selection for bombing Nazi Germany and Imperial Japan during WWII. |
| 主题 | Macroeconomics
; Consumption and Investment
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| URL | https://www.nber.org/papers/w28178
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| 来源智库 | National Bureau of Economic Research (United States)
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| 引用统计 |
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/585852
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推荐引用方式
GB/T 7714 |
Ernest Liu,Aleh Tsyvinski. Dynamical Structure and Spectral Properties of Input-Output Networks. 2020.
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文件名：
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w28178.pdf
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格式：
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Adobe PDF
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