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 …

We develop a framework to theoretically and empirically analyze the fluctuations of the
aggregate stock market. Households allocate capital to institutions, which are fairly …

We use supervisory loan-level data to document that small firms (SMEs) obtain shorter
maturity credit lines than large firms, post more collateral, have higher utilization rates, and …

This article examines whether firm-level idiosyncratic shocks propagate in production
networks. We identify idiosyncratic shocks with the occurrence of natural disasters. We find …

Exploiting the exogenous and regional nature of the Great East Japan Earthquake of 2011,
this article provides a quantification of the role of input-output linkages as a mechanism for …

A modern economy is an intricately linked web of specialized production units, each relying
on the flow of inputs from their suppliers to produce their own output which, in turn, is routed …

Many of the insights of economics seem to be qualitative, with many fewer reliable
quantitative laws. However a series of power laws in economics do count as true and …

We study pricing and non-pricing features of loan contracts to gauge how the credit market
evaluates a firm's customer-base profile and supply-chain relations. Higher customer …

We show that firms׳ idiosyncratic volatility obeys a strong factor structure and that shocks to
the common idiosyncratic volatility (CIV) factor are priced. Stocks in the lowest CIV-beta …

This paper uses a data base covering the universe of French firms for the period 1990–2007
to provide a forensic account of the role of individual firms in generating aggregate …