What is it about?
I examine whether increasing trade in intermediate goods (vertical specialization trade) has led to more trade volatility. I find that the shift in trade to more volatile sectors is more important.
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Why is it important?
Recessions have increasingly led to bigger declines in trade. Some have been concerned that this reflects increasing trade barriers.
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This page is a summary of: INTERNATIONAL SUPPLY CHAINS AND THE VOLATILITY OF TRADE, Economic Inquiry, March 2013, Wiley,
DOI: 10.1111/ecin.12009.
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