The Robust Properties of Economies with Endogenous Production Networks

We are grateful to Daron Acemoglu, Hassan Afrouzi, Adrien Auclert, David Baqaee, Saki Bigio, Matteo Bizzarri, Job Boerma, Vasco Carvalho, Ian Dew-Becker, Mira Frick, Xavier Gabaix, Ben Golub, Zhen Huo, Ryota Iijima, Şebnem Kalemli-Özcan, Ernest Liu, Fabio Maccheroni, Massimo Marinacci, Kiminori Matsuyama, Pooya Molavi, Emi Nakamura, George Nikolakoudis, Kristoffer Nimark, Ezra Oberfield, Alessandro Pavan, Pascual Restrepo, Andres Rodriguez-Clare, Karthik Sastry, Andreas Schaab, Alireza Tahbaz-Salehi, Stacy Tan, Mathieu Taschereau-Dumouchel, Aleh Tsyvinski, Ivan Werning, and seminar participants at Harvard, UCLA, Cornell, Princeton, LSE, UPF, Santa Clara University, NYU Shanghai, Notre Dame, UW Madison, University of Naples Federico II, Bocconi, Chicago, University of Manchester, the NBER Summer Institute, the 2025 Transatlantic Theory Workshop, the CEPR Workshop on Imperfect Expectations and Bounded Rationality, the 2025 Rome Workshop on Macroeconomics, the 2025 Duke Macro Jamboree, the Macro Theory Group, the 2026 Cowles Foundation General Equilibrium Conference, and Capri in Theory for helpful comments. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.