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Conceptual Aspects of Global Value Chains

Antras, Pol - 2019

I offer an overview of some key conceptual aspects associated with the rise of global value chains (GVCs). I outline a series of alternative interpretations and definitions of what the rise of GVCs entails, and I trace the implications of these alternative conceptualizations for the measurement...

Persistent link: https://www.econbiz.de/10012858026

Monetary Policy in an Era of Global Supply Chains

Wei, Shang-Jin - 2020

We study the implications of global supply chains for the design of monetary policy, using a small-open economy New Keynesian model with multiple stages of production. Within the family of simple monetary policy rules with commitment, a rule that targets separate producer price inflation at...

Persistent link: https://www.econbiz.de/10012844748

Global Supply Chains and Trade Policy

Blanchard, Emily J. - 2016

How do global supply chain linkages modify countries' incentives to impose import protection? Are these linkages empirically important determinants of trade policy? To address these questions, we introduce supply chain linkages into a workhorse terms-of-trade model of trade policy with political...

Persistent link: https://www.econbiz.de/10013001214

Trading Tasks : A Simple Theory of Offshoring

Grossman, Gene M. - 2006

For centuries, most international trade involved an exchange of complete goods. But, with recent improvements in transportation and communications technology, it increasingly entails different countries adding value to global supply chains, or what might be called quot;trade in tasks.quot; We...

Persistent link: https://www.econbiz.de/10012779022

Global Supply Chains in the Pandemic

Bonadio, Barthélémy - 2020

We study the role of global supply chains in the impact of the Covid-19 pandemic on GDP growth for 64 countries. We discipline the labor supply shock across sectors and countries using the fraction of work in the sector that can be done from home, interacted with the stringency with which...

Persistent link: https://www.econbiz.de/10012833120

Technology and Production Fragmentation : Domestic Versus Foreign Sourcing

Fort, Teresa - 2016

strategies. Using new data on U.S. firms' decisions to contract for manufacturing services from domestic or foreign suppliers, I …

Persistent link: https://www.econbiz.de/10012984719

Global Supply Chain Pressures, International Trade, and Inflation

Di Giovanni, Julian; Kalemli-Ozcan, Sebnem; Silva, Álvaro - 2022

We study the impact of the Covid-19 pandemic on Euro Area inflation and how it compares to the experiences of other countries, such as the United States, over the two-year period 2020-21. Our model-based calibration exercises deliver four key results: 1) Compositional effects – the switch from...

Persistent link: https://www.econbiz.de/10014080974

An Elementary Theory of Global Supply Chains

Costinot, Arnaud - 2011

This paper develops an elementary theory of global supply chains. We consider a world economy with an arbitrary number of countries, one factor of production, a continuum of intermediate goods, and one final good. Production of the final good is sequential and subject to mistakes. In the unique...

Persistent link: https://www.econbiz.de/10013127420

Organizing the Global Value Chain

Antras, Pol - 2012

be taken to the data with international trade statistics. Combining data from the U.S. Census Bureau's Related Party … Trade database and estimates of U.S. import demand elasticities from Broda and Weinstein (2006), we find empirical evidence … industry in the value chain, which we construct using U.S. Input-Output Tables …

Persistent link: https://www.econbiz.de/10013104981

Global Supply Chains and Wage Inequality

Costinot, Arnaud - 2012

A salient feature of globalization in recent decades is the emergence of "global supply chains" in which different countries specialize in different stages of a sequential production process. In Arnaud Costinot, Jonathan Vogel and Su Wang (2011), CVW hereafter, we have developed a simple theory...

Persistent link: https://www.econbiz.de/10013107972