Interconnectedness and Resilience of the U.S. Economy
CSS Publication Number
CSS11-39
Abstract
An economy consists of interconnected sectors which are specialized in producing different products or providing particular services. We study the interconnectedness of the U.S. economy using a network approach, finding that sectors are highly clustered in this “economy network” and play different roles in facilitating the transactions within the economy. When it comes to resilience of the economy as a whole, however, all sectors play different but nontrivial roles by facilitating alternative input–output routes when a crisis occurs in single or multiple sectors. Diversity in sectors’ specialties appears to be the truly important characteristic that keeps the economy functional when facing internal and external challenges.
Author(s)
Research Areas
Communities
Urban Systems and Built Environment
Keywords
complex, economic network, economy, intput-output, network, resilience
Publication Type
Journal Article
Digital Object Identifier
http://dx.doi.org/10.1142/S0219525911003335
Full Citation
Xu, Ming, Brad R. Allenby and John C. Crittenden. (2011) “Interconnectedness and Resilience of the U.S. Economy.” Advances in Complex Systems 14(5): 649-672.
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