Distortions and the structure of the world economy
By: Caliendo, L., Parro, F. and Tsyvinski A
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Material type: 
BookPublisher: American Economic Journal: Macroeconomics Description: 14(4), Oct, 2022: p.274-308.Subject(s): World economy, Great Recession, World's GDP
In:
American Economic Journal: MacroeconomicsSummary: We model the world economy as one system of endogenous input-output relationships subject to frictions and study how the world's input-output structure and world's GDP change due to changes in frictions. We derive a sufficient statistic to identify frictions from the observed world input-output matrix, which we fully match for the year 2011. We show how changes in internal frictions impact the whole structure of the world's economy and that they have a much larger effect on world's GDP than external frictions. We also use our approach to study the role of internal frictions during the Great Recession of 2007–2009. – Reproduced
| Item type | Current location | Call number | Vol info | Status | Date due | Barcode |
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Articles
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Indian Institute of Public Administration | 14(4), Oct, 2022: p.274-308 | Available | AR127557 |
We model the world economy as one system of endogenous input-output relationships subject to frictions and study how the world's input-output structure and world's GDP change due to changes in frictions. We derive a sufficient statistic to identify frictions from the observed world input-output matrix, which we fully match for the year 2011. We show how changes in internal frictions impact the whole structure of the world's economy and that they have a much larger effect on world's GDP than external frictions. We also use our approach to study the role of internal frictions during the Great Recession of 2007–2009. – Reproduced
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