@article{e41e54461a3741af8a224a1c1de7d2a6,
title = "Propagation of economic shocks through global supply chains—Evidence from Hurricane Sandy",
abstract = "This study examines whether and how economic shocks from natural disasters propagate through supply chains to regions not directly hit by disasters. Although such propagation has been studied, less attention has been paid to heterogeneity across network characteristics of firms. Focusing on the impacts of a hurricane and using firm-level data for major firms in the world that include supply-chain ties among them, we find evidence of the intra-national propagation of the shock in the United States. Our results further suggest that both input specificity and network density are important determinants of the level of propagation.",
author = "Yuzuka Kashiwagi and Yasuyuki Todo and Petr Matous",
note = "Funding Information: This study was conducted as part of a project titled {\textquoteleft}Research on Global Inter‐firm Networks and Related Policies', which was undertaken at the Research Institute of Economy, Trade, and Industry (RIETI). Financial support from JSPS KAKENHI (Grant Numbers JP25101003, 18J21395, and 18KK0045) and JSPS Overseas Challenge Program for Young Research is gratefully acknowledged. Yuzuka Kashiwagi is a research fellow of the Japan Society for the Promotion of Science. The authors would like to thank the editor, two anonymous referees, Sunghoon Chung, Stephane Hallegatte, Hidehiko Ichimura, Tomohiko Inui, Keiko Ito, Yukiko Saito, Yoichi Sugita, Russel Thomson, Zhihong Yu, and seminar participants at the European Trade Studies Group Annual Conference, Japanese International Economics Association, Hitotsubashi University, Osaka University, the University of Sydney, Waseda University, and the World Bank for comments and Fu Jiangtao and Yohei Kobashi for data extractions. The opinions expressed and arguments employed in this paper are the sole responsibility of the authors and do not necessarily reflect those of RIETI, Waseda University, the University of Sydney, or any institution with which the authors are affiliated. Funding Information: This study was conducted as part of a project titled ?Research on Global Inter-firm Networks and Related Policies', which was undertaken at the Research Institute of Economy, Trade, and Industry (RIETI). Financial support from JSPS KAKENHI (Grant Numbers JP25101003, 18J21395, and 18KK0045) and JSPS Overseas Challenge Program for Young Research is gratefully acknowledged. Yuzuka Kashiwagi is a research fellow of the Japan Society for the Promotion of Science. The authors would like to thank the editor, two anonymous referees, Sunghoon Chung, Stephane Hallegatte, Hidehiko Ichimura, Tomohiko Inui, Keiko Ito, Yukiko Saito, Yoichi Sugita, Russel Thomson, Zhihong Yu, and seminar participants at the European Trade Studies Group Annual Conference, Japanese International Economics Association, Hitotsubashi University, Osaka University, the University of Sydney, Waseda University, and the World Bank for comments and Fu Jiangtao and Yohei Kobashi for data extractions. The opinions expressed and arguments employed in this paper are the sole responsibility of the authors and do not necessarily reflect those of RIETI, Waseda University, the University of Sydney, or any institution with which the authors are affiliated. Publisher Copyright: {\textcopyright} 2021 The Authors. Review of International Economics published by John Wiley & Sons Ltd.",
year = "2021",
month = nov,
doi = "10.1111/roie.12541",
language = "English",
volume = "29",
pages = "1186--1220",
journal = "Review of International Economics",
issn = "0965-7576",
publisher = "Wiley-Blackwell",
number = "5",
}