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讲座:Supply Chain Management, Production Networks, and Aggregate Fluctuations

发布者:经济系    发布时间:2019-12-16

题 目:Supply Chain Management, Production Networks, and Aggregate Fluctuations

嘉 宾:Le Xu, Ph.D. candidate, University of Pennsylvania

主持人:许志伟   副教授  上海交通大学安泰经济与管理学院

时 间:2019 12 19 日(周四)  14:30-16:00

地 点:上海交通大学   徐汇校区包图 A303

内容简介:

Over the business cycle, firms adjust not only their sales and input expenditures but also the number of suppliers from which they source from. I incorporate this extensive margin into a real business cycle model featuring input-output networks. Using a dataset of supply chain relationships among US firms, I first document that increases in the number of suppliers are correlated with increases in sales, intermediate input expenditures, total factor productivities, and costs of managing suppliers. Based on these facts, I develop a model in which firms trade off the productivity benefit (return to variety) of accessing more varieties with the (fixed) cost of managing these varieties. The extensive margin adjustment introduces a return to scale into production, which interacts with input-output networks and amplifies industry productivity shocks: In my estimated model, the effect of industry productivity shocks on GDP fluctuations is one-fourth larger than in a (conventional) model where the extensive margin is absent.

演讲人简介

Le Xu is a Ph.D. candidate in Economics from the University of Pennsylvania. He also serves as a research analyst at the Federal Reserve Bank of Philadelphia. His research interests span macroeconomics, business cycles, and network economics.

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