Investigating how systemic risk originates and spreads across the financial system poses an inherently compositional question, i.e., a question concerning the joint distribution of relative risk share across several interdependent contributors. To address this question, we propose a weighted...

This study uncovers a powerful, yet overlooked geographic dimension to terrorism’s macroeconomic impact. Our findings reveal that terror's harm to FDI is profoundly shaped by attack location. Using Pakistan as a case study we show that assaults on economic and political centers cause far...

The return of inflation in Western economies has fueled the debate on its main drivers, bringing sector-specific shocks and supply chain bottlenecks to the forefront. Building on the seminal approach of Weber et al. (2024), this paper develops a method to assess the degree of exposure to these...

While the persistent core-periphery dualism within the European Monetary Union (EMU) has been extensively studied, its relationship to the Sustainable Development Goals (SDGs) remains unexplored. This is surprising, given the EU's strong commitment to achieving the 17 SDGs by 2030. The SDGs...

How does Italy position inside the European structure of trade relationships? How labour bilateral flows have changed over time? Which type of employment activity has been outsourced? Which insourced? Focusing on a three-country perspective, what are the employment bilateral relationships...

We show that trade credit in production networks is important for the transmission of unconventional monetary policy. We find that firms with bonds eligible for purchase under the European Central Bank’s Corporate Sector Purchase Program act as financial intermediaries and extend more trade...

Economic theory has recently begun to consider the economic impact of narratives. Narrative economics can also be extended to the analysis of the economic-political effect of narratives in the context of the European core-periphery divide, which intensified after the European sovereign-debt...

In a simple model of distance-based utility, we show that core-periphery networks violate pairwise stability but often satisfy horizon-$K$ farsighted stability [Herings et al. 2019] for small enough $K$. Our results hold despite the fact that agents are identical and preferences violate...

Τhe first Eurozone crisis has increased core-periphery imbalances at the EMU, as expected from theory. It was followed by a significant structural change, through laying down the foundations for a Banking, Fiscal and Capital Markets Union. Using GNI per capita and employment indexes from 2009...

The paper holds a critical view on EU austerity policies, with particular emphasis given to Greece. It is maintained that the main causes for the implementation of neoliberal reforms should be examined in the manner with which the Greek economy has developed in relation with the European...

This paper revisits a traditional theme in the literature on the political economy of development, namely how to redistribute rents from traditional exporters of natural resources toward capitalists in technology-intensive sectors with a higher potential for innovation and the creation of...

"The book provides a picture of the increasing significance of Central Europe and especially Poland in global production networks, discussing the underlying economic, social, and political factors. The key question it answers is to what extent the growth of production and exports results in...

We propose a regional inequality-based mechanism to explain the heterogeneity in the spread of Covid-19 and test it using data from India. We argue that an area characterized by coreperiphery economic structure creates regional inequality in which the periphery remains dependent on the core for...

We show that production networks are important for the transmission of unconventional monetary policy. Firms with bonds eligible for purchase under the European Central Bank’s Corporate Sector Purchase Program act as financial intermediaries by extending more trade credit to their customers....

traditionally seen only in terms of trade costs, many aspects of economic integration are more naturally viewed as lowering the cost of trading information rather than goods, i.e. as reducing the extent to which learning externalities are localised. Raising learning spillovers is stabilising, so...

This paper models the relationship between countries' distance from global economic activity, endogenous investments in education, and economic development. Firms in remote locations pay greater trade costs on both exports and intermediate imports, reducing the amount of value added left to...