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The Great Synchronisation : tracking the trade collapse with high-frequency data

Araújo, Sónia; Oliveira Martins, Joaquim (2011-03), The Great Synchronisation : tracking the trade collapse with high-frequency data, in Baldwin, Richard, The Great Trade Collapse : Causes, Consequences and Prospects, Centre for Economic Policy Research : London, p. 101-106

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Type
Chapitre d'ouvrage
Date
2011-03
Book title
The Great Trade Collapse : Causes, Consequences and Prospects
Book author
Baldwin, Richard
Publisher
Centre for Economic Policy Research
Published in
London
ISBN
978-1-907142-24-6
Number of pages
246
Pages
101-106
Metadata
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Author(s)
Araújo, Sónia
Oliveira Martins, Joaquim
Abstract (EN)
While several culprits have been proposed to explain the current trade collapse (e.g. the credit crunch, global production chains, generalised loss of confidence), the great synchronisation underlying the collapse suggests that it is very probably their interaction, rather than each individual effect, that might best explain why international trade has taken such an epic hit in this global crisis. The high-frequency pattern of trade flows also reveals systemic propagation effects during the crisis that would be interesting to analyze further, as well as new patterns in the structure of trade flows. All these issues open interesting research questions for international trade economists.
Subjects / Keywords
Commercial policy; International trade; Global Financial Crisis
JEL
F17 - Trade Forecasting and Simulation