This paper presents the first detailed and holistic description of the European production network (EPN) and provides different rankings of the most "systemically important" industries involved in Brexit. Employing techniques of complex networks analysis and input–output traditional tools, the study identifies those industries that are key in the complex structure of the UK-EU trade relationships. The method developed would help policymakers to better understand which tariff would have a more distortive impact, which export sector should be pushed, which imports should be safeguarded. Such information may have foremost importance in the negotiations between the UK and EU. Our findings suggest that Brexit would be not just a problem for the UK, as it is often portrayed, but any form of Brexit could propagate affecting the global production system.
Key sectors in input–output production networks: An application to Brexit / Giammetti, R.; Russo, A.; Gallegati, M.. - In: WORLD ECONOMY. - ISSN 0378-5920. - 43:4(2020), pp. 840-870. [10.1111/twec.12920]
Key sectors in input–output production networks: An application to Brexit
Giammetti R.
;Russo A.;Gallegati M.
2020-01-01
Abstract
This paper presents the first detailed and holistic description of the European production network (EPN) and provides different rankings of the most "systemically important" industries involved in Brexit. Employing techniques of complex networks analysis and input–output traditional tools, the study identifies those industries that are key in the complex structure of the UK-EU trade relationships. The method developed would help policymakers to better understand which tariff would have a more distortive impact, which export sector should be pushed, which imports should be safeguarded. Such information may have foremost importance in the negotiations between the UK and EU. Our findings suggest that Brexit would be not just a problem for the UK, as it is often portrayed, but any form of Brexit could propagate affecting the global production system.File | Dimensione | Formato | |
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Descrizione: This is the peer reviewed version of the following article: Giammetti R, Russo A, Gallegati M. Key sectors in input–output production networks: An application to Brexit. World Econ. 2020; 43: 840–870., which has been published in final form at https://doi.org/10.1111/twec.12920. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Use of Self-Archived Versions https://authorservices.wiley.com/author-resources/Journal-Authors/licensing/self-archiving.html. This article may not be enhanced, enriched or otherwise transformed into a derivative work, without express permission from Wiley or by statutory rights under applicable legislation. Copyright notices must not be removed, obscured or modified. The article must be linked to Wiley’s version of record on Wiley Online Library and any embedding, framing or otherwise making available the article or pages thereof by third parties from platforms, services and websites other than Wiley Online Library must be prohibited.
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