Sectoral Shocks and Aggregate Fluctuations

By Michal Horváth. 2000

554 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/0bf3a2150e21466aa530cf319fca4cd6290d7afc

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In Economics and Econometrics

Citations in the corpus

The Network Origins of Aggregate Fluctuations (2011, unknown): “This is not surprising in view of the results in Hulten (1978) and Gabaix (2011), relating aggregate total factor productivity (TFP) to ﬁrm-or sector-level TFPs weighted by sales.”
Sector Investment Growth Rates and the Cross Section of Equity Returns (2006, background): “An example from the nineties is the severe 1993 southern drought and the floods in the Midwest (see Horvath (2000)).”
Credit Chains and Sectoral Comovement: Does the Use of Trade Credit Amplify Sectoral Shocks? (2010, background): “On the macroeconomic side, a long literature has proposed that input-output linkages are important for the transmission of shocks across industries (see Long and Plosser, 1983; Horvath, 2000; Shea, 2002, among others).”
Input Specificity and the Propagation of Idiosyncratic Shocks in Production Networks (2016, background): “…posits that shocks are transmitted in the economy through industry linkages (Long and Plosser 1987; Jovanovic 1987; Durlauf 1993; Bak et al. 1993; Horvath 1998, 2000; Conley and Dupor 2003; Di Giovanni and Levchenko 2010; Carvalho 2010; Caselli et al. 2011; Acemoglu et al. 2012; Bigio and La’O…”
Financial Frictions in Production Networks (2016, background): “Dating back to Long and Plosser (1983), there is an extensive macroeconomic literature focused on how input-output linkages affect the transmission of sectoral productivity shocks; see e.g. Horvath (1998, 2000), Dupor (1999), Shea (2002), and Acemoglu et al. (2012).”
Sectoral vs. Aggregate Shocks: A Structural Factor Analysis of Industrial Production (2008, unknown): “A second strand of literature is rooted in more structural calibrated multisector models, such as Long and Plosser (1983), Horvath (1998, 2000), Dupor (1999) and Carvalho (2007), that explicitly take into account sectoral linkages across sectors.”
Public Investment in Resource-Abundant Developing Countries (2012, methodology): “We use the estimate by Horvath (2000) for the labor mobility parameter: ρ = 1.”
Reserve requirements and optimal Chinese stabilization policy (2017, methodology): “We set the labor elasticity of substitution between two sectors σL = 1 following the estimate of Horvath (2000), and calibrate SOE labor share μ = 0.67 such that the wage rate of SOEs and POEs equals ws = wp in the steady state. Regarding technology, we set the capital depreciation rate δ at 0.035. ”
Emissions Cap or Emissions Tax? A Multi-sector Business Cycle Analysis (2016, methodology): “Based on the sectoral input data, Horvath (2000) estimates the elasticity of substitution between sectoral hours of 0996, with a standard deviation of 0.0027. The value  = 1 is consistent with this estimate. The weights  are the shares of labor input in sector  in total hours worked. The steady”
Econometric analysis of production networks with dominant units (2020, unknown): “Notable theoretical contributions in this area include Acemoglu, Carvalho, Ozdaglar, and Tahbaz-Salehi (2012), Horvath (1998, 2000), Gabaix (2011), Acemoglu, Ozdaglar, and Tahbaz-Salehi (2016), and Siavash (2016).”
The Impact of Regional and Sectoral Productivity Changes on the U.S. Economy (2014, unknown): “The sectoral distribution of welfare effects is also less skewed than that of GDP since measured TFP in general responds less than employment to changes in fundamental productivity (see Equation (31)).”
Aggregate Fluctuations and the Network Structure of Intersectoral Trade (2010, methodology): “…actual input-output data in large scale multisector models generates aggregates that are quantitatively similar to data and to one-sector real business cycle models; see Horvath (2000). understanding and modelling this tension between specialization and reliance on general purpose technologies.”
Supply Chain Disruptions: Evidence from the Great East Japan Earthquake* (2016, background): “For example, Horvath (2000), Atalay (2017), and Baqaee and Farhi (2019, 2020) illustrate how nonunitary elasticities can alter shocks’ aggregate impact and the induced patterns of comovement, whereas papers such as Oberfield and Raval (forthcoming), Boehm, Flaaen, and Pandalai-Nayar (2019), and…”