China has established its role as a major world lender, and policy changes affecting its external position would therefore have pronounced effects over a range of countries and on the global financial landscape in general. In this paper, I characterize China’s external asset holdings and macro...

The recent trade disputes and the technological rivalry between the US and China make the effects of trade policy one of the most relevant economic subject areas. We employ a multi-country, multi-sector general equilibrium modelling framework with imperfect competition and heterogeneous firm...

Highly interconnected global supply chains make countries vulnerable to supply chain disruptions. In this paper, we estimate the macroeconomic effects of global supply chain shocks for the euro area. Our empirical model combines business cycle variables with data from international container...

In light of the recent tit-for-tat trade dispute between China and the US, interest in quantifying the effects of the so-called phase one agreement has risen. To this end, the paper quantifies the impact of the asymmetric managed trade agreement using such a multi-country open-economy dynamic...

Western sanctions exposed Russia’s key vulnerabilities - dependence on Western capital and advanced technology, with knock-on effects in other sectors. In response, Russia launched a policy of import substitution and attempted to diversify to non-Western countries to mitigate the impact of...

Co-authores: Valeriya Dinger (University of Osnabrück and the Leeds University Business School), Ragnar Juelsrud (Norges Bank) and Karolis Liaudinskas (Norges Bank) In this paper, we investigate how trade shocks propagate to the real economy through banking sector. We exploit an exogenous trade...

The coronavirus (COVID-19) pandemic and the resulting lockdowns have created a deep global recession, induced massive government interventions and forced a change in the social and economic behaviour of economic agents. This raises many questions about the path to economic recovery and the...

This conference will bring together users and producers of balance of payments (BoP) statistics and the rest-of-the-world account to discuss outstanding data (analytical) needs and challenges faced by compilers and users of external statistics. This interaction will support the ongoing review of...

The International Macroeconomics and Finance (IMF) Programme is one of the three successors to the International Macroeconomics (IM) Programme, and this meeting replaces the Macroeconomics of Global Interdependence (MGI) Meeting. Topics: International macroeconomics and stabilisation policy;...

We welcome any contributions on these topics, particularly those that focus on the following four areas: - The cyclical position of trade: Empirical studies on the cyclical dynamics of trade, short- and medium-term forecasting models, and trend/cycle decompositions. - Structural changes and...