Bems, Rudolfs; Johnson, Robert C; Yi, Kei-Mu - In: IMF Economic Review 58 (2010) 2, pp. 295-326
This paper uses a global input-output framework to quantify U.S. and European Union (EU) demand spillovers and the elasticity of world trade to GDP during the global recession of 2008–09. Cross-border intermediate goods linkages have implications for the transmission of shocks and the...
