?url_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Adc&rft.relation=http%3A%2F%2Feprints.imtlucca.it%2F1866%2F&rft.title=Global+value+chains+during+the+great+trade+collapse%3A+a+bullwhip+effect%3F&rft.creator=Altomonte%2C+Carlo&rft.creator=Di+Mauro%2C+Filippo&rft.creator=Ottaviano%2C+Gianmarco&rft.creator=Rungi%2C+Armando&rft.creator=Vicard%2C+VIncent&rft.subject=HB+Economic+Theory&rft.subject=HD+Industries.+Land+use.+Labor&rft.description=This+paper+analyzes+the+performance+of+global+value+chains+during+the+trade+collapse.+To+do+so%2C+it+exploits+a+unique+transaction-level+dataset+on+French+firms+containing+information+on+cross-border+monthly+transactions+matched+with+data+on+worldwide+intrafirm+linkages+as+defined+by+property+rights+(multinational+business+groups%2C+hierarchies+of+firms).+This+newly+assembled+dataset+allows+us+to+distinguish+firm-level+transactions+among+two+alternative+organizational+modes+of+global+value+chains%3A+internalization+of+activities+(intragroup+trade%2Ftrade+among+related+parties)+or+establishment+of+supply+contracts+(arm's+length+trade%2Ftrade+among+unrelated+parties).+After+an+overall+assessment+of+the+role+of+global+value+chains+during+the+trade+collapse%2C+we+document+that+intra-group+trade+in+intermediates+was+characterized+by+a+faster+drop+followed+by+a+faster+recovery+than+arm's+length+trade.+Amplified+fluctuations+in+terms+of+trade+elasticities+by+value+chains+have+been+referred+to+as+the+%22bullwhip+effect%22+and+have+been+attributed+to+the+adjustment+of+inventories+within+supply+chains.+In+this+paper+we+first+confirm+the+existence+of+such+an+effect+due+to+trade+in+intermediates%2C+and+we+underline+the+role+that+different+organizational+modes+can+play+in+driving+this+adjustment&rft.publisher=European+Central+Bank&rft.date=2013&rft.type=Working+Paper&rft.type=PeerReviewed&rft.format=application%2Fpdf&rft.language=en&rft.identifier=http%3A%2F%2Feprints.imtlucca.it%2F1866%2F1%2FEuropean%2520Central%2520Bank_Rungi.pdf&rft.identifier=++Altomonte%2C+Carlo+and+Di+Mauro%2C+Filippo+and+Ottaviano%2C+Gianmarco+and+Rungi%2C+Armando+and+Vicard%2C+VIncent++Global+value+chains+during+the+great+trade+collapse%3A+a+bullwhip+effect%3F++Working+Paper++%231412%2F2013++++European+Central+Bank++++ISSN+1725-2806.++++++