Supply and demand shocks with international production networks

Thomas Persson

Journal of Economics and Econometrics, 2020, vol. 63, issue 3, 27-44

Abstract: In this paper, we investigate how the global economy responds to supply and demand shocks, and show how the role of international production networks compared a network-irrelevant benchmark. Model-based simulation results suggest that international production networks are important for understanding the macroeconomic effects of COVID-19 and role played by input-output linkages is more subtle than one might at first imagine.

Keywords: COVID-19; supply shocks; demand shocks; international production networks (search for similar items in EconPapers)
JEL-codes: E24 E31 E42 E51 (search for similar items in EconPapers)
Date: 2020
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