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Documents de travail de l'OCDE sur la politique commerciale

Cette série porte sur la politique commerciale.

Anglais

Shocks in a highly interlinked global economy

This report analyses the broad risks associated with sectoral output disruptions both domestically and abroad, examining several exposure metrics. The results indicate that domestic shocks generally have larger sectoral impacts than foreign shocks. In most cases, foreign production disruptions cause minimal domestic output responses, suggesting that domestic and international linkages, along with economic adjustment mechanisms, tend to dampen rather than amplify foreign shocks. However, a cumulation of adverse shocks can significantly affect specific sectors, with manufacturing sectors are on average much more exposed to foreign output shocks than services and agrifood given their greater internationalisation of output and inputs. Economies with strong backward and forward global value chain links to major foreign economies also tend to be more exposed to foreign shocks.

Anglais

Mots-clés: METRO Model, GVCs, CGE, Shock transmission, Supply Chains, Global Value Chains, Exposure risk
JEL: F14: International Economics / Trade / Empirical Studies of Trade; C68: Mathematical and Quantitative Methods / Mathematical Methods; Programming Models; Mathematical and Simulation Modeling / Computable General Equilibrium Models
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