2021-2022 Schedule

12-17-21

Please note, this seminar will be rescheduled due to an unavoidable conflict. Additional details are forthcoming and the website will be updated accordingly.

Friday, December 17, 2021
12:00 p.m. to 1:00 p.m.

Virtual Seminar

Speaker:
Dr. Andrew Bernard
Kadas T'90 Distinguished Professor, Tuck School of Business at Dartmouth

Title: Sparse Production Networks

Abstract: 
Firm heterogeneity and the sparse nature of the production network implicitly discipline the structure of the network, even when links are formed randomly. A large number of well-established statistical relationships, both in levels and changes, do not improve our understanding of production networks beyond random matching. We propose a simple framework for a production network, the "elementary model'', based on random matching and firm heterogeneity. We characterize the families of statistics and data generating processes that may render a more elaborated model subject to underidentification concerns. Finally, we show that the elementary model is a useful benchmark to develop "instructive" statistics and inform model construction.

Bio:
Andrew Bernard has been on the faculty at Tuck since 1999 and in 2017 was named the Kadas T’90 Distinguished Professor. He received his Ph.D. from Stanford in economics in 1991 and was on the faculty at MIT and Yale prior to coming to Tuck. During 2017-2018, he was a visiting Professor of Economics at the London School of Economics. In 2018-2019, he visited the Department of Economics at the University of Oslo as a World Leading Scholar. 

Professor Bernard is an expert in international trade and investment and specializes in firm responses to globalization. In recent papers, he has documented the emergence of factory-less goods producers in the US, revisited traditional views of deindustrialization and explored the dynamics of new exporters and the role of intermediaries in global trade. His current research focuses on the evolution of global (and domestic) production networks and the consequences for firm performance.

Professor Bernard has been named by Thompson Reuters as one of the Most Highly Cited Researchers every year from 2014-2020 and is among the 100 most cited economists. He received a National Science Foundation grant to study firm responses to international trade. In addition to being published in top academic journals such as the American Economic Review, the Journal of Political Economy, the Quarterly Journal of Economics and the Review of Economic Studies, his research has been featured on CNN, CNBC, Good Morning America, MSNBC, NPR's Morning Edition, Marketplace Morning Report, the BBC, and in the New York TimesWall Street JournalFinancial Times, the EconomistNikkeiFortune, and Business Week.