Daisuke Fujii, 13 November 2016

Buyer-supplier networks in production processes play an important role in determining the pattern of shock propagations and aggregate fluctuations. This column provides empirical evidence on the structure of production networks and buyer-supplier sales comovements. A strong interdependence of sales growth is confirmed. In general, firms are more affected by their customers than suppliers.  Manufacturing and wholesale sectors exhibit higher propagation factors while retail and service sectors exhibit lower propagation factors. 

Anne-Laure Delatte, Claude Lopez, 14 July 2013

This paper proposes to identify the dependence structure existing between the returns of equity and commodity futures and its evolution through the past 20 years. The key point is that the authors do not do not impose the dependence structure but let the data select it.


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