Specialization leads to efficient production structures generating welfare gains, while the resulting interconnectedness of countries spread shocks more rapidly rendering the global economic system more volatile. This paper applies the framework of Ecological Network Analysis on global...

This paper introduces the Geographic Macro and Regional (GMR) model for NUTS-2 regions of the Euro zone. This model consists of three blocks: the TFP, the SCGE and the MACRO blocks. The model is built for impact analysis of policies targeting intangible assets in the forms of R&D, human capital...