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Since December 1st till March 31 you can apply to our programs:
Master in Economic Research and PhD in Economics

Entry requirements are:
- BA / MA degree or equivalent
- Proficiency in spoken and written English
- Solid background in mathematics
- Previous education in economics is recommended

Your online application must content following documents:
- Curriculum vitae
- Statement of motivation
- Copies of your diplomas and transcripts
- Proof of English proficiency level
- Contact details for two (or max. three) referees (optional for MA applicants)

For more information please see sections: How to apply to MER or How to apply to PhD
In case of any question, please do not hesitate to contact us at This email address is being protected from spambots. You need JavaScript enabled to view it. or This email address is being protected from spambots. You need JavaScript enabled to view it.
or see the FAQ sections for Master´s or Phd program.

Prof. Edouard Schaal

Pompeu Fabra University, Spain
Centre de Recerca en Economia Internacional, Spain

Join online
Meeting number: 2741 537 7212
Meeting password: 522981

Authors: Edouard Schaal, Mathieu Taschereau-Dumouchel

Abstract: We study how time-to-build and delivery lags affect the propagation of sectoral and aggregate shocks in an economy with input-output linkages. Time-to-build significantly contributes to the persistence of shocks, with highly heterogeneous effects across sectors. We analyze delay shocks and demonstrate that bottlenecks can be identified by the product of a sector’s supplier and buyer centralities. Shocks propagate asynchronously through the network, generating endogenous fluctuations via an echo effect. These fluctuations arise due to the presence of loops in the network. We show that the Fourier spectrum of sectoral and aggregate output can be predicted from the durations and weights of the network’s dominant cycles. Sectoral comovements are complex and can be decomposed into the network’s dominant walks.