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UID:bcbf8b691a1478b1a6fa98f9203922e4
CATEGORIES:Seminars
CREATED:20150211T193214
SUMMARY:Julien Sauvagnat - ENSAE (Job Market Seminar)
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:<p style="text-align: justify;"><strong>Input Specificity and the Propagati
 on of Idiosyncratic Shocks in Production Networks</strong></p><p style="lin
 e-height: normal;"><span style="font-size: 12pt; font-family: 'Times New Ro
 man','serif';">Abstract:</span></p><p style="text-align: justify;">This pap
 er examines whether firm-level idiosyncratic shocks propagate in production
  networks. We identify idiosyncratic shocks with the occurrence of natural 
 disasters. We find that affected suppliers impose substantial output losses
  on their customers, especially when they produce specific inputs. These ou
 tput losses translate into significant market value losses, and they spill 
 over to other suppliers. Our point estimates are economically large, sugges
 ting that input specificity is an important determinant of the propagation 
 of idiosyncratic shocks in the economy.</p>
DTSTAMP:20260406T051505Z
DTSTART:20150129T153000Z
DTEND:20150129T170000Z
SEQUENCE:0
TRANSP:OPAQUE
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