We analyze how trade affects aggregate volatility using a multi-country, multiindustry, and multi-destination framework. We decompose aggregate output growth risk into destination risk, origin risk, and idiosyncratic risk (and their covariances). We then use this framework to run counterfactuals...

This paper aims to identify factors that determine functional specialisation (FS) in global value chains (GVCs) in European Union countries. We focus on fabrication and R&D as two opposite business functions in terms of their character and their potential of creating value-added. To make our...

This paper explores the regionalisation of the European Union’s supply chains and the impact of enlargement by looking at trends in trade in intermediate products between 1995-2007. The findings show that enlargement has not significantly impacted overall levels of regionalization although it...

The aim of the paper is to answer the overriding question what is the role of ICT in implementation of smart specialization (SS) in EU regions (NUTS2 level)? This role can be dual and ICT is considered in this study both as an invention which has led to the emergence of new sector, and from the...

The long-run effects of regional integration are analyzed in this book. On the basis of the development of a model of endogenous regional growth (which combines an endogenous growth model with aspects of ""new"" economic geography) and an empirical analysis of stylized facts for the European...