The Asymmetric Impact of War: Resilience,Vulnerability and Implications for EU Policy

Intereconomics - In 2019, over 96% of EU27 oil needs, nearly 90% of natural gas and over 43% of solid fuels were met by net imports, with the largest share coming from Russia (35% of oil, 40% of...     

A MATHEMATICAL APPROACH TO HARROD'S OPEN ECONOMY DYNAMICS

This paper investigates an open economy dynamic model in the Harrod tradition. Its goal is to check if in accordance with Harrod's thought, opening to foreign trade is able to reduce the cyclical instability the economic system exhibits when it is closed to the international trade. We show that the system's dynamic behavior depends on changes in the saving rate, the competitiveness of home products in the foreign markets and the initial sign of the balance of trade. We demonstrate that stable cycles are possible only under particular conditions. Otherwise, the economy may experience chaotic motions in the long period.     

The Role of Migration in the Variety and Quality of Trade: Evidence from Germany

We explore the migration‐trade nexus in the case of Germany over the period 2000–09, disentangling the two dimensions of intra‐industry trade (vertical and horizontal). We find that immigration is positively and significantly related to intra‐industry trade. However, the magnitude and statistical significance of migration's impact on trade are considerably higher for horizontal intra‐industry trade and increase with the difference in the level of development between Germany and the partner countries. This pattern is consistent with the view that information flows between migrant communities and their country of origin may be more important for consumer goods (where trade in varieties prevails) and that this information effect is more important if trading countries are very different.