Analysis of response to technological shocks in the multi-sector model of imperfect competition

The study presents the analysis of the effect of technological shocks on the economic system within the framework of previously described dynamic multi-sector model of imperfect competition. It is shown that the distinguishing feature of the model is in asymmetry of the response to negative and positive shocks. Namely, economic recession following negative shock is greater in absolute terms than growth appearing after positive shock of the same amplitude. It is shown that this kind of shocks leads to changes in the structure of the input-output network.