Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/267347 
Year of Publication: 
2022
Series/Report no.: 
CESifo Working Paper No. 10115
Publisher: 
Center for Economic Studies and ifo Institute (CESifo), Munich
Abstract: 
This paper examines how the Covid-19 pandemic affected European trade patterns. Specifically, dynamic panel data models are estimated to assess the effects on exports and imports of various sectors and products (selected on the basis of their trading volume or strategic importance) of the restrictions and of other policy measures adopted by national governments during the crisis. The results suggest that the impact of the Covid-19 pandemic was heterogeneous across sectors and product types, both the initial drop and the subsequent rebound being different depending on sectoral characteristics and the degree of resilience. In particular, trade flows of durable products were more significantly affected by the pandemic compared to those of non-durable ones.
Subjects: 
Covid-19 pandemic
trade patterns
sectoral analysis
product analysis
stringency
policy responses
uncertainty
Europe
dynamic panel models
GMM estimator
JEL: 
C25
E61
F13
F15
Document Type: 
Working Paper
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