具有生产网络的自我实现的商业周期

IF 1.3 3区经济学 Q2 ECONOMICS

International Economic Review Pub Date : 2025-01-16 DOI:10.1111/iere.12752

Feng Dong, Fei Zhou

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引用次数: 0

摘要

生产网络在诱导自我实现的商业周期中的作用是什么？我们构建了一个以投入产出联系和信贷约束为特征的多部门商业周期模型。我们的理论框架表明，单个总金融乘数足以表征均衡确定性，而均衡确定性取决于网络结构。通过定量评估2000年至2020年美国不确定均衡的可能性，我们发现，在2007年之前的时期，经济容易出现自我实现的波动。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

SELF-FULFILLING BUSINESS CYCLES WITH PRODUCTION NETWORKS

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SELF-FULFILLING BUSINESS CYCLES WITH PRODUCTION NETWORKS

What is the role of production networks in inducing self-fulfilling business cycles? We construct a multisector business cycle model that features both input–output linkages and credit constraints. Our theoretical framework demonstrates that a single aggregate financial multiplier is sufficient to characterize equilibrium determinacy, which hinges on the network structure. By quantitatively assessing the possibility of indeterminate equilibria in the United States from 2000 to 2020, we discover that the economy was prone to self-fulfilling fluctuations in the period of pre-2007.

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来源期刊

International Economic Review ECONOMICS-

CiteScore

2.60

自引率

0.00%

发文量

期刊介绍： The International Economic Review was established in 1960 to provide a forum for modern quantitative economics. From its inception, the journal has tried to stimulate economic research around the world by publishing cutting edge papers in many areas of economics, including econometrics, economic theory, macro, and applied economics.