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Ciclo seminarios CEA – MIPP

13:00 horas, Sala Asamblea, Ingeniería Industrial, Torre Oriente (Beauchef 851, 4to piso, Santiago)

El Centro de Economía Aplicada (CEA) y el Instituto Milenio para la Investigación en Imperfecciones de Mercado y Políticas Públicas (MIPP) de la Universidad de Chile invitan a su ciclo de seminarios programados para el primer semestre del año.

Invitado: Jorge Miranda, University of Virginia

Título de la conferencia: “Production Network Density and Aggregate Volatility”

 

Abstract
I show that the number of positive shares in the input-output (production network density) matters for volatility. Service oriented economies with denser connections display lower volatility, while denser manufacturing oriented economies display higher volatility. I build a multisector model with non-unitary elasticity of substitution between labor and intermediates and show that with an elasticity above one, as in service sectors, a higher network density diversifies shocks, while with an elasticity below one, as in manufacturing sectors, a higher density amplifies shocks.  Calibrating the model for the countries in the sample yields a density-volatility correlation similar to the data.

Más información

Confirmaciones: Olga Barrera / obarrera@dii.uchile.cl