论文标题
供应网络形成和脆弱性
Supply Network Formation and Fragility
论文作者
论文摘要
我们在大型供应网络中对复杂商品的生产进行建模。每家公司通过与其他公司的关系来提供几个基本投入。个体供应关系有特殊失败的风险，可能会破坏生产。为了防止这种情况，企业多源投入并从战略上进行投资，以使关系更牢固，从而将投资成本支配，而不是增加鲁棒性的收益。如果汇总输出对小骨料冲击非常敏感，则供应网络称为脆弱。我们表明，中级生产率的供应网络在平衡方面易于脆弱，即使这始终效率低下。供应网络的内源配置为电击强大放大提供了一个新的通道。
We model the production of complex goods in a large supply network. Each firm sources several essential inputs through relationships with other firms. Individual supply relationships are at risk of idiosyncratic failure, which threatens to disrupt production. To protect against this, firms multisource inputs and strategically invest to make relationships stronger, trading off the cost of investment against the benefits of increased robustness. A supply network is called fragile if aggregate output is very sensitive to small aggregate shocks. We show that supply networks of intermediate productivity are fragile in equilibrium, even though this is always inefficient. The endogenous configuration of supply networks provides a new channel for the powerful amplification of shocks.
