The agri-food sector is a key component of the Italian economy and the Made in Italy products are altogether the core of it with a strong export propensity. This paper analyses the recent export performance of the Made in Italy as a whole and at product level. The analysis is based on the...

Did the 2018/19 US-China trade war trigger adjustment of Global Value Chains (GVCs) and nearshoring to Mexico? We address this question with confidential longitudinal firm-level trade data from Mexico that covers the universe of international trade transactions over 2015-2021. By merging the...

Specialization leads to efficient production structures generating welfare gains, while the resulting interconnectedness of countries spread shocks more rapidly rendering the global economic system more volatile. This paper applies the framework of Ecological Network Analysis on global...

We analyze how trade affects aggregate volatility using a multi-country, multiindustry, and multi-destination framework. We decompose aggregate output growth risk into destination risk, origin risk, and idiosyncratic risk (and their covariances). We then use this framework to run counterfactuals...

Though MNE-SME linkages accelerate integration of small businesses into global value chains, FDI alone does not suffice. This Perspective argues that supportive host country policies like spurring adoption of digital tools, promoting ease of acquiring certifications, improving access to finance,...

We examine recent changes in the structure of Chinese manufacturing value chains using a standard input-output framework. Our results suggest that the previous increasing trend in the share of domestic value added in Chinese value chains stalled during our observation period (2018-2022). We also...

We model how R&D enters the innovation system in four ways (intramural, extramural, cooperative, and spillover). Despite measuring three different spillovers together, for a very large sample of European enterprises we conclude that the productivity effects of spillovers were at best smaller...