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Figure 1. Structure of real interactions.
Unless provided in the caption above, the following copyright applies to the content of this slide: © The Author(s) Published by Oxford University Press on behalf of Associazione ICC. All rights reserved.This article is published and distributed under the terms of the Oxford University Press, Standard Journals Publication Model ( Ind Corp Change, Volume 27, Issue 6, 08 June 2018, Pages 1045–1067, The content of this slide may be subject to copyright: please see the slide notes for details.
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Figure 2. Baseline scenario—real indicators. (a) Output
Figure 2. Baseline scenario—real indicators. (a) Output. (b) Potential Output Growth. (c) Labor market. (d) ... Figure 2. Baseline scenario—real indicators. (a) Output. (b) Potential Output Growth. (c) Labor market. (d) Unemployment. (e) Beveridge curve. (f) Phillips curve. Unless provided in the caption above, the following copyright applies to the content of this slide: © The Author(s) Published by Oxford University Press on behalf of Associazione ICC. All rights reserved.This article is published and distributed under the terms of the Oxford University Press, Standard Journals Publication Model ( Ind Corp Change, Volume 27, Issue 6, 08 June 2018, Pages 1045–1067, The content of this slide may be subject to copyright: please see the slide notes for details.
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Figure 3. Baseline scenario—financial indicators. (a) Returns on assets. (b) Interest and inflation rates. (c) Ponzi ... Figure 3. Baseline scenario—financial indicators. (a) Returns on assets. (b) Interest and inflation rates. (c) Ponzi firms. (d) Default rate of the firms (all sectors). Unless provided in the caption above, the following copyright applies to the content of this slide: © The Author(s) Published by Oxford University Press on behalf of Associazione ICC. All rights reserved.This article is published and distributed under the terms of the Oxford University Press, Standard Journals Publication Model ( Ind Corp Change, Volume 27, Issue 6, 08 June 2018, Pages 1045–1067, The content of this slide may be subject to copyright: please see the slide notes for details.
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Figure 4. Evolution of markups (average weighted by market shares) per sector in a typical baseline simulation (left ... Figure 4. Evolution of markups (average weighted by market shares) per sector in a typical baseline simulation (left panel) and over 100 MC simulations (right panel, average ± 1 standard deviation). (a) Weighted average markups, typical run. (b) Weighted average markups, 100 replications. Unless provided in the caption above, the following copyright applies to the content of this slide: © The Author(s) Published by Oxford University Press on behalf of Associazione ICC. All rights reserved.This article is published and distributed under the terms of the Oxford University Press, Standard Journals Publication Model ( Ind Corp Change, Volume 27, Issue 6, 08 June 2018, Pages 1045–1067, The content of this slide may be subject to copyright: please see the slide notes for details.
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Figure 5. Markups and profitability: distribution of individual markups of the firms against their return on assets, as ... Figure 5. Markups and profitability: distribution of individual markups of the firms against their return on assets, as recorded in every 12 periods from t = 1008 to t = 1200 of a typical baseline simulation. The vertical line represents the weighted average markup (by market shares) in the sector over that time span. (a) Sector 1. (b) Sector 2. (c) Sector 3. Unless provided in the caption above, the following copyright applies to the content of this slide: © The Author(s) Published by Oxford University Press on behalf of Associazione ICC. All rights reserved.This article is published and distributed under the terms of the Oxford University Press, Standard Journals Publication Model ( Ind Corp Change, Volume 27, Issue 6, 08 June 2018, Pages 1045–1067, The content of this slide may be subject to copyright: please see the slide notes for details.
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Figure 6. Markups and concentration: weighted average markup against the Herfindhal–Hirschmann concentration index in ... Figure 6. Markups and concentration: weighted average markup against the Herfindhal–Hirschmann concentration index in each sector between t = 1000 and t = 2000 of a typical baseline simulation. (a) Sector 1. (b) Sector 2. (c) Sector 3. Unless provided in the caption above, the following copyright applies to the content of this slide: © The Author(s) Published by Oxford University Press on behalf of Associazione ICC. All rights reserved.This article is published and distributed under the terms of the Oxford University Press, Standard Journals Publication Model ( Ind Corp Change, Volume 27, Issue 6, 08 June 2018, Pages 1045–1067, The content of this slide may be subject to copyright: please see the slide notes for details.
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Figure 7. Markups and demand: market shares (top panel) and inventories (bottom panel) per markup range; individual ... Figure 7. Markups and demand: market shares (top panel) and inventories (bottom panel) per markup range; individual data, as recorded in every 12 periods from t = 1008 to t = 1200 of a typical baseline simulation. The vertical line represents the weighted average markup (by market shares) in the sector over that time span. (a) Sector 1. (b) Sector 2. (c) Sector 3. (d) Sector 1. (e) Sector 2. (f) Sector 3. Unless provided in the caption above, the following copyright applies to the content of this slide: © The Author(s) Published by Oxford University Press on behalf of Associazione ICC. All rights reserved.This article is published and distributed under the terms of the Oxford University Press, Standard Journals Publication Model ( Ind Corp Change, Volume 27, Issue 6, 08 June 2018, Pages 1045–1067, The content of this slide may be subject to copyright: please see the slide notes for details.
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Figure 8. Relative prices compared to the natural prices derived in Appendix A in a typical baseline simulation ... Figure 8. Relative prices compared to the natural prices derived in Appendix A in a typical baseline simulation (results over 100 replications are in Figure A3), and relationship between the direct costs of production in each sector in a typical baseline simulation. (a) S1 to S2. (b) S2 to S3. (c) S3 to S1. Unless provided in the caption above, the following copyright applies to the content of this slide: © The Author(s) Published by Oxford University Press on behalf of Associazione ICC. All rights reserved.This article is published and distributed under the terms of the Oxford University Press, Standard Journals Publication Model ( Ind Corp Change, Volume 27, Issue 6, 08 June 2018, Pages 1045–1067, The content of this slide may be subject to copyright: please see the slide notes for details.
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Figure 9. Adaptation of the system in the aftermath of a shock on the markups in S2 in a typical baseline simulation. ... Figure 9. Adaptation of the system in the aftermath of a shock on the markups in S2 in a typical baseline simulation. The red dots represent the transition periods following the shock (100 periods measured yearly in (a), and 400 periods measured yearly in (b) and (c)). (a) Net profits and investment in S2 (measured yearly). (b) (Excess) capacities of S2 w.r.t. S3. (c) (Excess) capacities of S2 w.r.t. S1. (d) Average markup weighted by market shares. (e) Arithmetic markup average. Unless provided in the caption above, the following copyright applies to the content of this slide: © The Author(s) Published by Oxford University Press on behalf of Associazione ICC. All rights reserved.This article is published and distributed under the terms of the Oxford University Press, Standard Journals Publication Model ( Ind Corp Change, Volume 27, Issue 6, 08 June 2018, Pages 1045–1067, The content of this slide may be subject to copyright: please see the slide notes for details.
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Figure 10. Effects of a technological shock in S2: (results over 100 replications on Supplementary Appendix Figure 15). ... Figure 10. Effects of a technological shock in S2: (results over 100 replications on Supplementary Appendix Figure 15). (a) Productivities. (b) Workforce distribution. (c) Markups, weighted by sales. (d) Relative prices: S1 to S2. (e) Relative prices: S2 to S3. (f) Relative prices: S3 to S1. Unless provided in the caption above, the following copyright applies to the content of this slide: © The Author(s) Published by Oxford University Press on behalf of Associazione ICC. All rights reserved.This article is published and distributed under the terms of the Oxford University Press, Standard Journals Publication Model ( Ind Corp Change, Volume 27, Issue 6, 08 June 2018, Pages 1045–1067, The content of this slide may be subject to copyright: please see the slide notes for details.
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