Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/224110
Authors: 
Olsson, Maria
Year of Publication: 
2019
Series/Report no.: 
Working Paper No. 2019:6
Abstract: 
Where do business cycles originate? The traditional view is that a business cycle is the result of shocks correlated across sectors. This view is complemented by a recently emerging literature showing that idiosyncratic shocks to large or highly interconnected sectors contribute to aggregate variation. This paper addresses the relative empirical importance of these two channels of business cycle variation. Results indicate that up to one-third of the business cycle is driven by idiosyncratic productivity variation together with network amplifications.
Subjects: 
Production Networks
Micro to Macro
Aggregate Volatility
Sectoral Distortions
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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