of output growth expectations, with the US and UK being the countries that generate the greatest spillovers and Germany … and Japan being the countries that generate the smallest spillovers. Therefore, policymakers should closely monitor the …

the direct impact of a shock and the magnitudes of the downstream and the upstream indirect effects. We then investigate … through the input-output network, with a pattern broadly consistent with theory. Quantitatively, the network-based propagation …, capturing the fact that the local propagation of a shock to an industry will fall more heavily on other industries that tend to …

Japan and Korea are close countries in terms of economic interaction as well as geography. To quantify the impact of …

exported primary commodities, imported capital goods and intermediate inputs, and a financial shock, modeled as fluctuations in …