MACROECONOMIC INTERDEPENDENCE IN THE AGE OF GLOBAL VALUE CHAINS

The paper reviews the Conference on International Trade and Macroeconomic Interdependence in the Age of Global Value Chains that took place in Vilnius (Lithuania) in September 2016. The review deals with organisational and professional aspects of the Conference, and analyses main messages of the key speakers of the conference - Richard Baldwin (the concept of “unbundling”) and Marcel Timmer (the idea of decreasing intensity of international trade and defragmentation of international production). The paper includes author’s personal impression of the Conference.

global value chains, macroeconomic interdependence, fragmentation and defragmentation of international production, Centre for Economic Policy Research, Central Bank Research Association, Richard Baldwin, Marcel Timmer