What would have been the economic impact of COVID-19 in a less integrated world? Is trade openness a good or a bad thing to mitigate the shock of a pandemic? How can we quantify the welfare effect of such a large disruption in production? Alessandro Sforza explains why the economic effects of a pandemic crucially depend on the extend to which countries are connected in global production networks.
Recommendations:
- "The Reach of Rome: A Journey Through the Lands of the Ancient Empire, Following a Coin" by Alberto Angela
https://www.penguinrandomhouse.ca/books/227125/the-reach-of-rome-by-alberto-angela-with-translation-by-gregory-conti/9780847841288
Paper:
- "Globalization in the time of COVID-19" by Alessandro Sforza and Marina Steininger
https://drive.google.com/file/d/1SeHWV20aIWdqpdwZSiVfm57BJrUqKy6Q/view