Eppinger, Peter S.; Felbermayr, Gabriel; Krebs, Oliver; … - 2021
with input-output linkages to gauge the effects of this adverse supply shock in China on the global economy through … international trade and global value chains (GVCs). We find moderate welfare losses in most countries outside of China, while a few … (in contrast to final goods trade) in transmitting the shock. In a hypothetical world without GVCs, the welfare loss due …