In this work, we evaluate the exposure of Italian regions to the risk associated with the spread of COVID-19 through a two-step value chain approach. First, we estimate the degree of participation of Italian regions in a plurality of value chains linked to consumption, investment and exports. We...

This paper contributes to the policy discussion on Covid-19 by presenting real-time evidence on the magnitude of the shock for Italian firms. We take advantage of unique panel data on 7,800 companies between January 2020 {right before the pandemic{ and March of the same year {in the midst of...

We develop a network trade model with country-sector level input-output linkages. It includes (1) domestic and global value chain linkages between all country-sectors, (2) direct as well as indirect shipments (via other sectors and countries) to a final destination, (3) value added rather than...

Quantifying the effects of trade policy in the age of "global value chains" (GVCs) requires an enhanced analytical framework that takes the observed international input-output relations in due account. However, existing quantitative general equilibrium models generally assume that industry-level...