CAREER: Networks in General Equilibrium

企业、行业和国家通过生产、贸易和技术联系形成一个相互联系的网络。当地经济环境的任何变化都将在整个网络中产生连锁反应，产生分配和聚合后果。这一职业奖资助了采用这种基于网络的观点的研究，以加深我们对相互依存的世界中的经济增长、资本流动和产业政策的理解。第一个项目分析全球资本流动网络，研究资本账户开放对增长和国际趋同的影响。第二个项目收集关于各国投入产出表的新的、全面的数据，并分析随着经济增长生产网络的演变。第三个项目研究区域参与经济竞争时产业政策的激励和影响。第四个项目构建了一个全球创新溢出模型，分析了各国在相互依存的世界中实施创新政策的战略动机。该研究开发并应用网络模型来回答围绕产业政策、资源配置、创新和全球资本流动的一般均衡和政策相关问题。第一个项目开发了一种新的全球经济增长模式，以国与国之间商品和资本的摩擦和不可完全替代的流动为特征。该模型适用于研究世界各国对贸易和投资摩擦变化的动态反应。第二个项目开发了一个具有部门连续体的生产网络模型。使用连续体的好处是，现实世界的投入产出表具有不同的聚合水平，可以被视为连续体的离散化，从而使来自不同国家或时间段的这些表直接进行比较。该项目将该模型应用于新收集的关于投入产出表的全面面板数据，并分析了生产网络在经济发展阶段的演变。第三个项目研究了地方政府在通过投入产出和贸易联系将地区联系起来，从而使地方产业政策对其他地区产生一般均衡影响的背景下，地方政府实施产业政策的战略激励。大量统计数据表明，如果地方政府的政策目标与中央计划者的政策目标不同，分散的干预可能会适得其反。该项目应用该模型研究了中国的分散的产业政策和国家干预。第四个项目开发了一个多国家、多部门的内生增长模式，在国家和部门之间产生全球知识溢出。该项目分析了一个经济体创新政策的动态和全球影响，该政策既针对国内研发资源的配置，也针对知识跨境传播的障碍。该模型提供了一个量化框架来分析与知识产权相关的全球创新政策、技术竞争和保护主义方面的问题。这一奖项反映了NSF的法定使命，并通过使用基金会的智力优势和更广泛的影响审查标准进行评估，被认为值得支持。

Firms, industries, and countries form an interconnected network through production, trade, and technological linkages. Any changes in the local economic environment will have ripple effects throughout the network, generating distributional and aggregate consequences. This CAREER award funds research that adopts this network-based view to deepen our understanding of economic growth, capital flow, and industrial policy in an interdependent world. The first project analyzes the network of global capital flows and studies the implication of capital account openness on growth and international convergence. The second project collects new, comprehensive data on input-output tables across countries and analyzes the evolution of production networks as economies grow. The third project studies the incentives and implications of industrial policy when regions engage in economic competition. The fourth project builds a model of global innovation spillovers and analyzes countries' strategic incentives to conduct innovation policy in an interdependent world.This research develops and applies network models to answer general equilibrium, policy-relevant questions surrounding industrial policy, resource allocation, innovation, and global capital flows. The first project develops a new growth model of the global economy featuring frictional and imperfectly substitutable flows of goods and capital between countries. The model is suitable for studying the dynamic response of countries around the world to changes in trade and investment frictions. The second project develops a production network model with a continuum of sectors. The advantage of working with a continuum is that real-world input-output tables, which come with different levels of aggregations, can be seen as discretization of the continuum, thereby making these tables from different countries or time periods directly comparable. The project applies the model to newly collected, comprehensive panel data on input-output tables and analyzes the evolution of production networks across stages of economic development. The third project studies the strategic incentives for local governments to implement industrial policy in a setting where regions are connected through input-output and trade linkages and thus local industrial policy has general equilibrium impact on other regions. Sufficient statistics that capture the local and cross-region spillover effects of industrial policies show that decentralized interventions can backfire if a local government's policy objectives differ from the central planner's. The project applies the model to study decentralized industrial policy and state interventions in China. The fourth project develops a multi-country, multi-sector endogenous growth model with global knowledge spillovers across countries and sectors. The project analyzes the dynamic and global implication of an economy’s innovation policy targeting both the domestic allocation of R&D resources and the barriers to knowledge diffusion across borders. The model provides a quantitative framework to analyze questions in global innovation policy, technological competition, and protectionism relating to intellectual property rights.This award reflects NSF's statutory mission and has been deemed worthy of support through evaluation using the Foundation's intellectual merit and broader impacts review criteria.