The Great Synchronisation : tracking the trade collapse with high-frequency data
Araújo, Sónia; Oliveira Martins, Joaquim (2011-03), The Great Synchronisation : tracking the trade collapse with high-frequency data, in Baldwin, Richard, The Great Trade Collapse : Causes, Consequences and Prospects, Centre for Economic Policy Research : London, p. 101-106
Book titleThe Great Trade Collapse : Causes, Consequences and Prospects
Book authorBaldwin, Richard
Number of pages246
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Abstract (EN)While several culprits have been proposed to explain the current trade collapse (e.g. the credit crunch, global production chains, generalised loss of confidence), the great synchronisation underlying the collapse suggests that it is very probably their interaction, rather than each individual effect, that might best explain why international trade has taken such an epic hit in this global crisis. The high-frequency pattern of trade flows also reveals systemic propagation effects during the crisis that would be interesting to analyze further, as well as new patterns in the structure of trade flows. All these issues open interesting research questions for international trade economists.
Subjects / KeywordsCommercial policy; International trade; Global Financial Crisis
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