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Sectoral interlinkages in global value chains : spillovers and network effects
Frohm, Erik; Gunnella, Vanessa - 2017
This paper studies the role of global input-output linkages in transmitting economic disturbances in the international economy. Our empirical results suggest that these sectoral spillovers are both statistically significant and of economic importance. We also provide evidence that it is not the...
Persistent link: https://www.econbiz.de/10011647846
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Domestic cycles, financial cycles, and policies : what has gone wrong?
Dăianu, Daniel - 2017
The financial crisis and its ensuing effects have brought back into the limelight the issue of cycles and of policies which fuel or mitigate crises. Cognitive and operational models in economics and business are questioned. There is a specter of much lower economic growth in the industrialized...
Persistent link: https://www.econbiz.de/10011760593
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Foreign shocks as granular fluctuations
Di Giovanni, Julian; Levchenko, Andrei A.; Méjean, Isabelle - 2020
This paper uses a data set covering the universe of French firm-level sales, imports, and exports over the period 1993-2007 and a quantitative multi-country model to study the international transmission of business cycle shocks at both the micro and the macro levels. The largest firms are both...
Persistent link: https://www.econbiz.de/10012319273
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The crisis sensitivity of European countries and regions : stylized facts and spatial heterogeneity
Groot, Stefan P. T.; Möhlmann, Jan L.; Garretsen, Harry; … - 2011
This paper investigates the impact of the recent global recession on European countries and regions. We first present several stylized facts as to the heterogeneous impact of the global recession on individual European countries and regions. We then offer an investigation of three main classes...
Persistent link: https://www.econbiz.de/10011386447
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Inter-industry trade and business cycle dynamics
Lechthaler, Wolfgang; Mileva, Mariya - 2016
Motivated by the increased importance of trade between industrialized and less-developed countries, we build a DSGE model featuring comparative advantage and inter-industry trade to analyze business cycle dynamics of industrialized countries. We show that productivity shocks lead to shifts in...
Persistent link: https://www.econbiz.de/10011478292
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Understanding the cross-country effects of US technology shocks
Miyamoto, Wataru; Nguyen, Thuy Lan - 2017
Business cycles are substantially correlated across countries. Yet most existing models are not able to generate substantial transmission through international trade. We show that the nature of such transmission depends fundamentally on the features determining the responsiveness of labor supply...
Persistent link: https://www.econbiz.de/10011662021
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The impact of firm financing constraints on R&D over the business cycle
Männasoo, Kadri; Meriküll, Jaanika - 2015
(CEE). Given that financial and venture capital markets in CEE are thin in comparison to those in high-income economies and … that many of CEE countries experienced a credit crunch during the last recession, it is proposed that financing constraints …-sources from ten CEE countries. The results suggest that the role of financing constraints for R&D expenditures in CEE countries is …
Persistent link: https://www.econbiz.de/10011326699
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The aftermath of debt surges
Kose, M. Ayhan; Ohnsorge, Franziska; Reinhart, Carmen M.; … - 2021
Debt in emerging market and developing economies (EMDEs) is at its highest level in half a century. In about nine out of 10 EMDEs, debt is higher now than it was in 2010 and, in half of the EMDEs, debt is more than 30 percentage points of gross domestic product higher. Historically, elevated...
Persistent link: https://www.econbiz.de/10012655299
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Container trade and the U.S. recovery
Kilian, Lutz; Nomikos, Nikos K.; Zhou, Xiaoqing - 2021
Since the 1970s, exports and imports of manufactured goods have been the engine of international trade and much of that trade relies on container shipping. This paper introduces a new monthly index of the volume of container trade to and from North America. Incorporating this index into a...
Persistent link: https://www.econbiz.de/10012550202
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Container trade and the U.S. recovery
Kilian, Lutz; Nomikos, Nikos K.; Zhou, Xiaoqing - 2021 - This version: October 13, 2021
Since the 1970s, exports and imports of manufactured goods have been the engine of international trade and much of that trade relies on container shipping. This paper introduces a new monthly index of the volume of container trade to and from North America. Incorporating this index into a...
Persistent link: https://www.econbiz.de/10012661967