Highly interconnected global supply chains make countries vulnerable to supply chain disruptions. In this paper, we estimate the macroeconomic effects of global supply chain shocks for the euro area. Our empirical model combines business cycle variables with data from international container...

Workshop Program: Session 1: International Macro and Uncertainty; Session 2: What is happening to the Phillips curve?;

The conference seeks to bring together academics and policy makers to discuss the aggregate implications of structural reforms, both from a theoretical and an empirical perspective. Topics: - The macroeconomic impact of structural reforms, both in the short and long run - The optimal timing of...

With unemployment rising and potential growth faltering, labor market reform has become more necessary than ever in OECD countries. Divergences remain however vivid regarding the direction of reforms: Which labor contracts? What role for labor taxation? Which minimum wages? What role for labor...