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Network Effects of International Shocks and Spillovers

Listed author(s):
  • Alexei P Kireyev
  • Andrei Leonidov

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.

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Paper provided by International Monetary Fund in its series IMF Working Papers with number 15/149.

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Length: 43
Date of creation: 07 Jul 2015
Handle: RePEc:imf:imfwpa:15/149
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  1. repec:cup:cbooks:9780511771576 is not listed on IDEAS
  2. repec:bof:bofrdp:urn:nbn:fi:bof-201512101464 is not listed on IDEAS
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  8. Diego Cerdeiro & Ariel Wirkierman, 2008. "International trade transmission channel of a local crisis: a simple model," Económica, Departamento de Economía, Facultad de Ciencias Económicas, Universidad Nacional de La Plata, vol. 0(1-2), pages 87-119, January-D.
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  10. Daron Acemoglu & Asuman Ozdaglar & Alireza Tahbaz-Salehi, 2013. "The Network Origins of Large Economic Downturns," NBER Working Papers 19230, National Bureau of Economic Research, Inc.
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