Monetary Policy Shocks and Risk Transmission via Trade Networks

This study uses annual bilateral trade data from the IMF Direction of Trade Statistics (DOTS) database, which reports imports and exports between reporting countries and their partner countries in current U.S. dollars. IMF country codes are converted into ISO3 codes to construct a bilateral country-pair panel dataset by year. The provided IMF_DOTS.csv file serves as a structural template, and users must manually download the complete DOTS dataset from the official IMF database to replicate the full analysis. Euro area membership is identified using Euro_Yield_Dates.csv, which contains official Euro adoption dates and is used to construct time-varying Euro membership indicators. The R script Import_IMF_Dots.R imports, cleans, and merges these data to generate the processed bilateral trade panel used in the empirical analysis.