CAJ | 학술논문

2012年9月，达龙·艾西莫格鲁等人在经济学顶尖杂志《Econometrica》上发表了题为《总量波动的网络起源》的论文。在这篇论文中，他们提供了一个研究级联效应的一般分析框架，系统阐述了某一特定部门的异质性冲击，是如何因级联作用而转化成总量波动的。他们认为，这次金融危机凸显了宏观经济中企业、行业之间相互关联的重要性，不是有些公司“太大以至于不能倒”，而是“太关联而不能倒”。近十多年来，宏观经济学理论体系（包括经济增长和经济波动理论）的进展一直是细枝末节上的变化，而这篇论文，将社会网络与宏观经济理论结合起来，很有可能开辟宏观经济理论的一个流派。另外，它对金融危机的解释迥异于之前PaulKrugman、MiltonFriedman、HymanP．Minsky等人的任何理论，形成了新一代的金融危机理论。
2012년9월，체룡·애서막격로등인재경제학정첨잡지《Econometrica》상발표료제위《총량파동적망락기원》적논문。재저편논문중，타문제공료일개연구급련효응적일반분석광가，계통천술료모일특정부문적이질성충격，시여하인급련작용이전화성총량파동적。타문인위，저차금융위궤철현료굉관경제중기업、행업지간상호관련적중요성，불시유사공사“태대이지우불능도”，이시“태관련이불능도”。근십다년래，굉관경제학이론체계（포괄경제증장화경제파동이론）적진전일직시세지말절상적변화，이저편논문，장사회망락여굉관경제이론결합기래，흔유가능개벽굉관경제이론적일개류파。령외，타대금융위궤적해석형이우지전PaulKrugman、MiltonFriedman、HymanP．Minsky등인적임하이론，형성료신일대적금융위궤이론。
In September 2012, Daron Acemoglu and his companions published the paper entitled ＂ The Network Origins of Aggregate Fluctuations＂ in Econometrica. In this paper, they provide a general framework for the study of cascade effects and systematically evaluate how idiosyncratic shocks are translated into aggregate volatility because of interconnections. They argue that the recent financial crisis has further highlighted the importance of interconnections among firms and sectors in the economy. The reason for the financial crisis is not that many institutions were＂too big to fail＂, but because they were ＂too interconnected to fail＂ In the recent ten years, the progress of the macroeconomic theory system, including growth theory and fluctuation theory, has been evolved only in details. But this paper, combining the social network and macroeconomic theory, is likely to open up a new genre of c theory. In addition, our explanation on financial crisis is different from any theories of Paul Krugman, Milton Friedman, and Hyman P. Minsky etc., forming a new generation of financial crisis theory