Related papers: Trade relationships during and after a crisis
Poor economies not only produce less; they typically produce things that involve fewer inputs and fewer intermediate steps. Yet the supply chains of poor countries face more frequent disruptions---delivery failures, faulty parts, delays,…
Socioeconomic segregation patterns in networks usually evolve gradually, yet they can change abruptly in response to external shocks. The recent COVID-19 pandemic and the subsequent government policies induced several interruptions in…
Amidst growing uncertainty and frequent restructurings, the impacts of employee exits are becoming one of the central concerns for organizations. Using rich communication data from a large holding company, we examine the effects of employee…
This paper documents a new feature of international trade: the increase in the share of low-value transactions in the total volume of transactions. Using Spanish data, we show that the share of low-value transactions in the total number of…
Using a rolling windows analysis of filtered and aligned stock index returns from 40 countries during the period 2006-2014, we construct Granger causality networks and investigate the ensuing structure of the relationships by studying…
Industries can enter one country first, and then enter its neighbors' markets. Firms in the industry can expand trade network through the export behavior of other firms in the industry. If a firm is dependent on a few foreign markets, the…
Empirical researchers often estimate spillover effects by fitting linear or non-linear regression models to sampled network data. We show that common sampling schemes bias these estimates, potentially upwards, and derive biased-corrected…
This paper derives a closed-form expression linking aggregate markups on imported inputs to concentration in a model of firm-to-firm trade with two-sided market power. Our theory extends standard oligopoly insights in two dimensions. First,…
The effects of real-world events on the dynamics and sentiment expressed through online conversations is not entirely understood. In particular, the dynamics of highly polarized communities, deeply invested in the outcome of a particular…
We review the evidence that the erratic dynamics of markets is to a large extent of endogenous origin, i.e. determined by the trading activity itself and not due to the rational processing of exogenous news. In order to understand why and…
How does supply uncertainty affect the structure of supply chain networks? To answer this question we consider a setting where retailers and suppliers must establish a costly relationship with each other prior to engaging in trade.…
This study investigates the optimal strategy for a firm operating in a dynamic Keynesian market setting. The firm's objective function is optimized using the percent deviations from the symmetric equilibrium of both its own price and the…
Many dynamical systems operate in a fluctuating environment. However, even in low-dimensional setups, transitions and bifurcations have not yet been fully understood. In this Letter we focus on crises, a sudden flooding of the phase space…
We study implications of the dynamical and spatial contact structure between Brazilian escorts and sex-buyers for the spreading of sexually transmitted infections (STI). Despite a highly skewed degree distribution diseases spreading in this…
We develop an analytically tractable model featuring heterogeneous workers and firms, where labor markets clear through a one-to-many sorting mechanism. Firms determine both the number and composition of their employees, shaping (1) the…
We analyze a proprietary dataset of trades by a single asset manager, comparing their price impact with that of the trades of the rest of the market. In the context of a linear propagator model we find no significant difference between the…
The temperatures in different zones in the world do not show significant changes due to El-Nino except when measured in a restricted area in the Pacific Ocean. We find, in contrast, that the dynamics of a climate network based on the same…
El Ni\~no-Southern Oscillation (ENSO) exhibits significant impacts on the frequency of extreme weather events and its socio-economic implications prevail on a global scale. However, a fundamental gap still exists in understanding the…
In this article, we present a discrete time modeling framework, in which the shape and dynamics of a Limit Order Book (LOB) arise endogenously from an equilibrium between multiple market participants (agents). We use the proposed modeling…
In this paper, we analyze the response of music and book sales to an external field and to buyer herding. We distinguish endogenous and exogenous shocks. We focus on some case studies, whose data have been collected from ranking on…