In this paper, a simple integrated model for the joint assessment of epidemic and economic dynamics is developed. The model can be used to discuss mitigation policies like shutdown and testing. Since epidemics cause output losses due to a reduced labor force, temporarily reducing economic...

We use the World Input-Output Database and build on Wang et al. (2013) gross exports decomposition to analyze the bilateral trade relation between Mexico and the United States from a value added perspective. Once we take into account that gross commercial flows are clouded by failing to account...

Across the demographic transition, declining mortality followed by declining fertility produces decades of rising support ratios as child dependency falls. These improving support ratios raise per capita consumption, other things equal, but eventually deteriorate as the population ages....

This paper proposes an interpretation of current global imbalances based upon the nature of the international currency, its main objective being to present a logical experiment, illustrating how alternative models of international financial organization may produce opposite results in the global...

Cross-border capital flows are expected to lead to increased international risk sharing by facilitating borrowing and lending in global financial markets. This paper examines risk-sharing outcomes of various types of capital flows (foreign direct investment, portfolio equity, debt, remittance,...

The globalization of COVID-19 pandemic and its economic impacts is set to run havoc across all economies in the world, throwing many into recession and possibly economic depression. As the numbers of infected and death cases rise sharply and recovery from the pandemic remains uncertain even in...

Starting from the mid-nineteenth century, this paper analyzes two periods of financial instability connected with financial globalization. The first culminates with the 1929 crisis, while the second characterizes the more recent experience starting from the 1970s. The period in between is...

By reviewing the history of “ecological transformation” theory for world economy growth, this research analyzes a relationship between oil price and food price in US dollar value in the context of green economy transition with a big question mark on globalization or anti-globalization. The...

I evaluate the effects of COVID-19 across countries. Where income is low, fewer jobs can be performed from home, the hospital capacity is lower, and enduring long periods with no income is harder, making the crisis more dire. On the other hand, younger populations make death less likely in low...

In modelling macroeconomic time series, often a monthly indicator of global real economic activity is used. We propose a new indicator, named World steel production, and compare it to other existing indicators, precisely the Kilian's index of global real economic activity and the index of OECD...