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Home | Events Archive | Firms, Failures, and Fluctuations: The Macroeconomics of Supply Chain Disruptions
Seminar

Firms, Failures, and Fluctuations: The Macroeconomics of Supply Chain Disruptions


  • Series
    Array
  • Speaker(s)
    Daron Acemoglu (MIT, United States)
  • Field
    Finance, Finance
  • Location
    Online
    Online
  • Date and time

    September 29, 2020
    15:30 - 16:45

Abstract: This paper studies how firm failures and the resulting disruptions to supply chains can amplify negative shocks. We develop a non-competitive model where customized supplier-customer relations increase productivity, and the relationship-specific surplus generated between firms and their suppliers is divided via bargaining. Changes in productivity alter the distribution of surplus throughout the economy and determine which firms are at the margin of failure. A firm’s failure may spread to its suppliers and customers and to firms in other parts of the production network. We provide existence, uniqueness, and a series of comparative statics results, and show how the response of the equilibrium production network may propagate recessionary shocks.

Link to the seminar:

Zoom Meeting:

https://eur-nl.zoom.us/j/97843501213?pwd=REwwWmN1K09QZm4vdTk1Tm41bnV4UT09

Meeting ID: 978 4350 1213

Passcode: 183488

Some information and suggestions:

  • Your microphone will be on mute upon joining the meeting, please leave it like that and unmute it only if you want to ask a question.
  • Asking questions: please go ahead and ask questions in the “usual way” (i.e., don’t use the chat unless you want to notify me/host of any problem related to the seminar).