Endogenous Production Networks With Fixed Costs
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Endogenous Production Networks With Fixed Costs
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Author : Emmanuel Dhyne
language : en
Publisher:
Release Date : 2023
Endogenous Production Networks With Fixed Costs written by Emmanuel Dhyne and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023 with categories.
This paper presents a tractable model of endogenous production networks with fixed costs associated with the formation of links between firms. The model consists of a finite number of firm types producing differentiated products. Each firm is characterized by firm-specific parameters describing its CES production function, firm-specific domestic and foreign demand shifters, and a firm-specific set of potential suppliers and buyers. We consider versions of the model in which either the buyer or the supplier initiates the formation of links, and versions in which the production network can be cyclic or acyclic. Our main theoretical result is that the closed economy equilibrium is unique if the set of feasible networks consists only of networks that are acyclic and the buyer initiates the link formation while having full bargaining power in price negotiations with the supplier. We provide examples of multiple equilibria if the supplier initiates the link formation in both cyclic and acyclic feasible networks or if the buyer initiates the link formation in a cyclic production network. We take the acyclic production network model to Belgian data on firm-to-firm production networks and show that it approximates well the salient features of the network. The endogenous network model generates substantial churn in domestic firm-to-firm linkages in response to trade shocks. However, the endogenous network model generates only moderately different welfare changes compared to a model with fixed linkages, suggesting that exogenous production networks can approximate the welfare response to trade shocks reasonably well.
Endogenous Production Networks And Supply Chain Disruptions
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Author : Nuriye Melisa Bilgin
language : en
Publisher:
Release Date : 2022
Endogenous Production Networks And Supply Chain Disruptions written by Nuriye Melisa Bilgin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022 with categories.
This paper studies the role of production networks and provides a causal estimate of how supply chains affect prices and productivity. Leveraging unique firm-level production network data from Turkey, a country with high inflation and expansionary monetary policy, I isolate the supply shock by exploiting the disruption from Chinese suppliers due to the lockdown. I document that firms relying on imports from China raise their prices by 11 % and experience a 24 % decrease in productivity following the supply chain disruption. To explore the mechanism, I further extend the analysis at the firm-product level and uncover that the effect on labor productivity is primarily driven by the intermediate and capital goods. Guided by the empirical findings, I propose a theoretical framework where firms are heterogeneous regarding their core and network productivities. The firm's supplier matches shape these network productivities as firms select into productive or low-cost suppliers to maximize their profits. I show that the endogeneity of the production network also originates from interdependent choices. In this way, this paper offers a new layer of firm heterogeneity as supply chain choices. Finally, I calibrate the model to analyze the implications of expanding the firm's supply chain. Counterfactual supply chains, with lower fixed costs associated with Chinese suppliers, translate into a decrease of 1.2 % in aggregate prices.
Endogenous Spatial Production Networks Theory Estimation And Evidence From Indian Firm To Firm Linkages
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Author : Piyush Paritosh Panigrahi
language : en
Publisher:
Release Date : 2021
Endogenous Spatial Production Networks Theory Estimation And Evidence From Indian Firm To Firm Linkages written by Piyush Paritosh Panigrahi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021 with categories.
In modern economies, production is organized in large-scale complex networks of firms trading intermediate inputs with each other. Larger Indian firms selling inputs to other firms tend to have more customers, tend to be used more intensively by their customers, and tend to have larger customers. Motivated by these regularities, I propose a novel empirical model of trade featuring endogenous formation of input-output linkages between spatially distant firms. The empirical model consists of (a) a theoretical framework that accommodates first order features of firm-to-firm network data, (b) a maximum likelihood framework for structural estimation that is uninhibited by the scale of data, and (c) a procedure for counterfactual analysis that speaks to the effects of micro- and macro- shocks to the spatial network economy. In the model, differences in production costs across firms arise not just from differences in productivity but also from finding the most cost-effective suppliers of intermediate inputs. Firms with low production costs end up larger because they find more customers, are used more intensively by their customers and in turn their customers lower production costs and end up larger themselves. The model is estimated using novel micro-data on firm-to-firm sales between Indian firms. The model's fit is good. The estimated model implies that a 10% decline in inter-state border frictions in India leads to welfare gains ranging between 1% and 8% across districts. Moreover, over half of the variation in changes in firms' sales to other firms can be explained by endogenous changes in the network structure.
Modularity And The Organization Of International Production
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Author : Ari van Assche
language : en
Publisher:
Release Date : 2003
Modularity And The Organization Of International Production written by Ari van Assche and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with categories.
Spatial Production Networks
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Author : Costas Arkolakis
language : en
Publisher:
Release Date : 2023
Spatial Production Networks written by Costas Arkolakis and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023 with categories.
We use new theory and data to study how firms endogenously form production networks across regions and countries. Supplier and buyer relationships form depending on firms' productivity and geographic location. We characterize the normative and positive properties of the spatial distribution of economic activity and welfare in general equilibrium. We calibrate the model using domestic and international firm-to-firm trade data from Chile. Both iceberg trade costs and search and matching frictions are important for aggregate trade flows and production networks. Endogenous formation of production networks leads to larger and more dispersed effects of international and intra-national trade cost shocks.
Asia And Global Production Networks
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Author : Benno Ferrarini
language : en
Publisher: Edward Elgar Publishing
Release Date : 2014-10-31
Asia And Global Production Networks written by Benno Ferrarini and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-10-31 with Business & Economics categories.
This timely book deploys new tools and measures to understand how global production networks change the nature of global economic interdependence, and how that in turn changes our understanding of which policies are appropriate in this new environment.
Theories Of Endogenous Regional Growth
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Author : Börje Johansson
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Theories Of Endogenous Regional Growth written by Börje Johansson and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
During the last two decades a new growth theory has emerged - often labelled "endogenous economic growth". The contributions in the book develop these advances into a theoretical framework for endogenous regional economic growth and explain the implications for regional economic policies in the perspective of the new century. Endogenous growth models can reflect increasing returns and hence refer more adequately to empirical observations than earlier models, and the models become policy relevant, because in endogenous growth models policy matters. Such policies comprise efforts to stimulate the growth of knowledge intensity of the labour supply and knowledge production in the form of R&D.
The Industrial Organization Of Banking
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Author : David VanHoose
language : en
Publisher: Springer Science & Business Media
Release Date : 2009-12-09
The Industrial Organization Of Banking written by David VanHoose and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-12-09 with Business & Economics categories.
This book aims to provide a thoroughly updated overview and evaluation of the industrial organization of banking. It examines the interplay among bank behaviour, market structure, and regulation from the perspective of a variety of public policy issues, including bank competition and risk, market discipline, antitrust issues, and capital regulation. New to this edition are discussions of the economic foundations of international banking, macroprudential regulation, and international coordination of banking policies. The book can serve as a learning tool and reference for graduate students, academics, bankers, and policymakers with interests in the industrial organization of the banking sector and the impacts of banking regulations.
Global Value Chains And Production Networks
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Author : Fengru Cui
language : en
Publisher: Academic Press
Release Date : 2018-12-05
Global Value Chains And Production Networks written by Fengru Cui and has been published by Academic Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-12-05 with Business & Economics categories.
Global Value Chains and Production Networks: Case Studies of Siemens and Huawei presents theories and frameworks that facilitate the evolution of GPN studies, from macro perspectives based on territory and industry to the use of micro (firm-level) data. The book explores these theories and frameworks through detailed case studies of two major corporations, Siemens and Huawei. With the GPN/GVC structure of Chinese firms not well known outside China, despite the growing importance of Chinese firms in the global economy, this guide plays a pivotal role in facilitating the use of data that promise to unlock economic cooperation and value. Emphasizes micro-data analytical models and their methodological underpinnings Illustrates how these data illuminate the economic structures of two comparable GPNs within highly divergent institutional contexts Suggests how companies can cooperate with foreign partners to enhance their global management capacity and reshape their advantages in international competition
Endogenous Development
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Author : Antonio Vázquez Barquero
language : en
Publisher: Psychology Press
Release Date : 2002
Endogenous Development written by Antonio Vázquez Barquero and has been published by Psychology Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Business & Economics categories.
The beginning of the twenty first century has been characterized by the expansion of economics, politics and institutional relations. this book illustrates the local answer to the challenge of increasing competition.