Networks and the Macroeconomy: An Empirical Exploration
---- Acknowledgements ----
This is a revised version of the paper presented in the 30th NBER Macro Annual Conference. We are grateful to the organizers/editors, Martin Eichenbaum and Jonathan Parker, and our discussants, Lawrence Christiano and Xavier Gabaix, for their very helpful directions and comments. We also thank seminar participants for their comments and ideas, Brendan Price and Pascual Restrepo for data assistance, and Alexis Brownell for excellent research assistance. Finally, we gratefully acknowledge financial support from the National Science Foundation, the Alfred P. Sloan Foundation, and the Ewing Marion Kauffman Foundation. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.