skip to content

Faculty of Economics

Journal Cover

Carvalho, V. M. and Tahbaz-Salehi, A.

Production Networks: A Primer

Annual Review of Economics

Vol. 11 pp. 635-663 (2019)

Abstract: This article reviews the literature on production networks in macroeconomics. It presents the theoretical foundations for the role of input–output linkages as a shock propagation channel and as a mechanism for transforming microeconomic shocks into macroeconomic fluctuations. The article also provides a brief guide to the growing literature that explores these themes empirically and quantitatively.

Keywords: networks, input–output linkages, shock propagation, aggregate fluctuations

JEL Codes: D57, D85, E32, L14

Author links: Vasco Carvalho  

Publisher's Link:

Papers and Publications

Recent Publications

Bhattacharya, D. The Empirical Content of Binary Choice Models Econometrica [2020]

Onatski, A. and Wang, C. Spurious Factor Analysis Econometrica, forthcoming [2020]

Li, Z. M., Laeven, R. J. A. and Vellekoop, M. H. Dependent Microstructure Noise and Integrated Volatility: Estimation from High-Frequency Data Journal of Econometrics [2020]

Giannitsarou, C., Kissler, S. and Toxvaerd, F. Waning Immunity and the Second Wave: Some Projections for SARS-CoV-2 American Economic Review: Insights, forthcoming [2021]