Series: IMF Working Papers
Author(s): Kei-Mu Yi , Rudolfs Bems , and Robert Johnson
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 June 2010
Keywords: Demand spillovers, trade collapse, input-output model, trade elasticity, domestic demand, intermediate goods, world trade, goods imports, global trade, Macroeconomic Aspects Of International Trade And Finance,
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 i...