Vertical trade and price shock propagation (notice n° 547021)
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| fixed length control field | 02186cam a2200193 4500500 |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20250121114539.0 |
| 041 ## - LANGUAGE CODE | |
| Language code of text/sound track or separate title | fre |
| 042 ## - AUTHENTICATION CODE | |
| Authentication code | dc |
| 100 10 - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Cochard, Marion |
| Relator term | author |
| 245 00 - TITLE STATEMENT | |
| Title | Vertical trade and price shock propagation |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. | |
| Date of publication, distribution, etc. | 2017.<br/> |
| 500 ## - GENERAL NOTE | |
| General note | 99 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | The breakdown of international value chains is an important aspect of globalization. Many studies have investigated the spread of a global demand shock to the embedded goods’ countries of origin. This article examines the effect of supply shocks on prices, with assumed cost-push inflation, using global Input-Output tables from the OECD. The first part presents our methodology, in particular our adaptation of the Leontief price model to a world economy to analyze exchange rate and productivity shocks. The second part empirically analyzes the impact of shocks on the euro area and the rest of the world when the shock comes from the euro area. The third part discusses the diffusion modalities of the shocks and shows that they are dominated by first-round effects and hence the share of production or exports that is made using imported inputs. Our model shows that exchange rate shocks are partially offset by changes in input prices, which, in the case of exchange rate appreciation, limit the loss of competitiveness. In euro area countries. the magnitude of this compensation is not insignificant, and it is even higher due to the countries’ openness. It is also more important for export prices than for production prices. It is higher for Germany than for France. The effects of productivity shocks are much greater, in particular because there is a domestic amplification effect before they spread internationally. Among large countries, Germany is the most likely to benefit from productivity gains in the CEECs outside the Euro zone. JEL codes: C67 E31 F42. |
| 700 10 - ADDED ENTRY--PERSONAL NAME | |
| Personal name | Daudin, Guillaume |
| Relator term | author |
| 700 10 - ADDED ENTRY--PERSONAL NAME | |
| Personal name | Fronteau, Sandra |
| Relator term | author |
| 700 10 - ADDED ENTRY--PERSONAL NAME | |
| Personal name | Rifflart, Christine |
| Relator term | author |
| 786 0# - DATA SOURCE ENTRY | |
| Note | Revue de l'OFCE | o 149 | 5 | 2017-03-03 | p. 131-166 | 1265-9576 |
| 856 41 - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | <a href="https://shs.cairn.info/journal-revue-de-l-ofce-2016-5-page-131?lang=en&redirect-ssocas=7080">https://shs.cairn.info/journal-revue-de-l-ofce-2016-5-page-131?lang=en&redirect-ssocas=7080</a> |
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