Network Effects of International Shocks and Spillovers
Andrei Leonidov and
Alexei Kireyev ()
No 2015/149, IMF Working Papers from International Monetary Fund
This paper proposes a method for assessing international spillovers from nominal demand shocks. It quantifies the impact of a shock in one country on all other countries. The paper concludes that the network effects in shock spillovers can be substantial, comparable, and often exceed the initial shock. Individual countries may amplify, absorb, or block spillovers. Most developed countries pass-through shocks, whereas low-income countries and oil exporters tend to block shock spillovers. The method is used to study demand shocks originating from a large and medium country, China and Ukraine respectively.
Keywords: WP; demand shock; epicenter country; import shock; shocks; spillover; trade; network; shock spillover; export-import matrix; export shock; Imports; Export earnings; Exports; Spillovers; Trade balance; Global (search for similar items in EconPapers)
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Journal Article: Network Effects of International Shocks and Spillovers (2018)
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