Demand Spillovers and the Collapse of Trade in the Global Recession

Demand Spillovers and the Collapse of Trade in the Global Recession
This paper uses a global input-output framework to quantify US and EU demand spillovers and the elasticity of world trade to GDP during the global recession of 2008-2009. We find that 20-30 percent of the decline in the US and EU demand was borne by foreign countries, with NAFTA, Emerging Europe, and Asia hit hardest. Allowing demand to change in READ MORE...

Publication date: June 2010
ISBN 9781455201259
$18.00

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