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dc.contributor.authorEscaith, Huberten_US
dc.contributor.authorGonguet, Fabienen_US
dc.date.accessioned2009-07-17en_US
dc.date.accessioned2012-04-26T12:02:21Z-
dc.date.available2012-04-26T12:02:21Z-
dc.date.issued2009en_US
dc.identifier.urihttp://hdl.handle.net/10419/57598-
dc.description.abstractBecause individual firms are interdependent and rely on each other, either as supplier of intermediate goods or client for their own production, an exogenous financial shock affecting a single firm, such as the termination of a line of credit, reverberates through the productive chain. The transmission of the initial financial shock through real channels is tracked by modelling input-output interactions. The paper indicates that when banks operate at the limit of their institutional capacity, defined by the capital adequacy ratio, and if assets are priced to market, then a resonance effect amplifies the back and forth transmission between real and monetary circuits. The paper illustrates the proposed methodology by computing a supply-driven indicator (IRSIC) and indirect demand-driven impacts on five interconnected economies of different characteristics: China, Japan, Malaysia, Thailand and the United States.en_US
dc.language.isoengen_US
dc.publisherWorld Trade Organization, Economic Research and Statistics Div. Genevaen_US
dc.relation.ispartofseriesWTO Staff Working Paper ERSD-2009-06en_US
dc.subject.jelC67en_US
dc.subject.jelF23en_US
dc.subject.jelF36en_US
dc.subject.jelG01en_US
dc.subject.jelL16en_US
dc.subject.ddc330en_US
dc.subject.keywordinternational supply chainsen_US
dc.subject.keywordmonetary circuiten_US
dc.subject.keywordreal linkagesen_US
dc.subject.keywordtransmission channels of financial shocken_US
dc.subject.keywordAsian International Input-Output Tablesen_US
dc.subject.stwIndustrieökonomiken_US
dc.subject.stwMultinationales Unternehmenen_US
dc.subject.stwSupply Chain Managementen_US
dc.subject.stwAuslandsproduktionen_US
dc.subject.stwFinanzmarktkriseen_US
dc.titleInternational trade and real transmission channels of financial shocks in globalized production networksen_US
dc.typeWorking Paperen_US
dc.identifier.ppn604973578en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:WTO Staff Working Papers, Economic Research and Statistics Division, WTO

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