Trade networks and shock transmission capacity: a new taxonomy of Italian industries

Stefano Costa, Federico Sallusti and Claudio Vicarelli
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Federico Sallusti: Istat, Istituto Nazionale di Statistica

Economia e Politica Industriale: Journal of Industrial and Business Economics, 2022, vol. 49, issue 1, No 6, 133-153

Abstract: Abstract Applying the social network analysis to domestic and international input–output tables, we position the Italian sectors within their trade networks to analyze their ability to transmit economic shocks within the economic system. In this context, we propose a new taxonomy that classifies sectors in terms of the extent to, and the speed at, which they tend to spread domestic and foreign impulses throughout the Italian economic system. Our results show a mismatch between the industries which have a central position within international trade network and industries which play a central role for the domestic propagation of shocks. In this vein, the capacity of transmitting stimuli from abroad is limited, weakening the possibility to benefit from positive shocks, even though it could partially provide a shelter from negative one in the international business cycle.

Keywords: Input/output tables; Network analysis; Shocks transmission (search for similar items in EconPapers)
JEL-codes: D57 E30 F14 (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (4)

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DOI: 10.1007/s40812-022-00208-2

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