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Global Production Networks and Macroeconomic Interdependence

Total Cost €


EC-Contrib. €






Project "GLOBALMACRO" data sheet

The following table provides information about the project.


Organization address
address: PLACA DE LA MERCE, 10-12
postcode: 8002

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
 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


Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    UNIVERSIDAD POMPEU FABRA ES (BARCELONA) coordinator 1˙381˙250.00


 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.


year authors and title journal last update
List of publications.
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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