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GLOBALMACRO SIGNED

Global Production Networks and Macroeconomic Interdependence

Total Cost €

EC-Contrib. €

Partnership

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Outcomes and
results

GLOBALMACRO project word cloud

Explore the words cloud of the GLOBALMACRO project. It provides you a very rough idea of what is the project "GLOBALMACRO" about.

procedure newly trade abroad structural relationships global international macroeconomic internationally constructed estimation shocks bank dataset highlighted administrative nexus empirical datasets incorporate opening matching granular input propagation data incorporating gains country models policies full examine economics theoretical risks countries firm bridge first multinational export researchers firms strategy transmission micro structure efficiency estimates macro alike policymakers heterogeneity cross perform microeconomic estimate implications borders macroeconomics networks equilibrium tackles exported adding impacts imported financial domestic quantitative transmitting model interdependence insights me counterfactuals multicountry linkages possibility

Project "GLOBALMACRO" data sheet

The following table provides information about the project.

Coordinator	UNIVERSIDAD POMPEU FABRA Organization address address: PLACA DE LA MERCE, 10-12 city: BARCELONA postcode: 8002 website: www.upf.edu contact info title: n.a. name: n.a. surname: n.a. function: n.a. email: n.a. telephone: n.a. fax: n.a.
Coordinator Country	Spain [ES]
Project website	http://julian.digiovanni.ca/globalmacro
Total cost	1˙381˙250 €
EC max contribution	1˙381˙250 € (100%)
Programme	1. H2020-EU.1.1. (EXCELLENT SCIENCE - European Research Council (ERC))
Code Call	ERC-2016-COG
Funding Scheme	ERC-COG
Starting year	2017
Duration (year-month-day)	from 2017-05-01 to 2022-04-30

Partnership

Take a look of project's partnership.

#	participants	country	role	EC contrib. [€]
1	UNIVERSIDAD POMPEU FABRA UNIVERSIDAD POMPEU FABRA Organization address address: PLACA DE LA MERCE, 10-12 city: BARCELONA postcode: 8002 website: www.upf.edu contact info title: n.a. name: n.a. surname: n.a. function: n.a. email: n.a. telephone: n.a. fax: n.a.	ES (BARCELONA)	coordinator	1˙381˙250.00

Map

Project objective

Researchers and policymakers alike have highlighted the potential efficiency gains of a global production structure. However, such linkages also raise the possibility of risks. This proposal tackles both empirical and theoretical challenges in incorporating the microeconomic structure of trade and international production networks in the study of the propagation of shocks internationally, and their impact on macroeconomic interdependence. Using newly constructed micro-level datasets, I provide quantitative analysis of the importance of the linkages in multicountry general equilibrium models of trade. First, using firm export and imported-input linkages, I provide a novel model-based estimation strategy to identify the role of country and firm-level shocks, and the implications of these estimates for the transmission of shocks across borders. By using structural trade models to estimate shocks at the firm level and studying the implications for the transmission of shocks across borders, I help bridge the micro-macro nexus in international economics. Second, I take an even more granular focus by studying the role of firm-to-firm production linkages in transmitting shocks across countries. To do so, I exploit a novel matching procedure between a country’s administrative dataset and cross-country firm-level data. I further build on these data by adding in domestic bank-firm relationships. This strategy allows for the study of how financial shocks are exported abroad via firms’ trade and multinational linkages. Third, I incorporate the insights from the empirical work into a full-scale multicountry general equilibrium model of trade, which allows for firm-level heterogeneity and microeconomic and macroeconomics shocks. I use the model for a quantitative study of the cross-country transmission of the different shocks via trade. This allows me to perform counterfactuals and examine the impact of policies, such as how opening to trade impacts macroeconomic interdependence.

Publications

List of publications.
year	authors and title	journal	last update
2019	di Giovanni, Julian, Andrei A. Levchenko and Isabelle Mejean. Foreign Shocks as Granular Fluctuations published pages: , ISSN: , DOI:	Mimeo	2020-01-27
2017	Julian di Giovanni, Andrei A. Levchenko, Isabelle Mejean Large Firms and International Business Cycle Comovement published pages: 598-602, ISSN: 0002-8282, DOI: 10.1257/aer.p20171006	American Economic Review 107/5	2020-01-27
2018	Julian di Giovanni, Andrei A. Levchenko, Isabelle Mejean The Micro Origins of International Business-Cycle Comovement published pages: 82-108, ISSN: 0002-8282, DOI: 10.1257/aer.20160091	American Economic Review 108/1	2019-04-18

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