Icio Slides PDF

New measures for new questions icio setup Supply-demand linkages Value-added in trade flows GVC-related exports
icio:
Economic analysis with Inter-Country
Input-Output tables
Federico Belotti1 Alessandro Borin2 Michele Mancini2
1
Tor Vergata
2
Bank of Italy
International workshop NESPUTT

21-22 November 2019 - University of Milano - Bicocca
Belotti, Borin, Mancini icio NESPUTT2019 1 / 29

International fragmentation of production
Since ICT revolution and globalization: traditional trade statistics do not

provide an adequate representation of supply and demand linkages
among the economies anymore.


With the spread of GVCs, lots of new questions (e. g. measuring
participation and positioning in GVC, assess exposure to shocks...).


With the spread of GVCs, lots of new questions (e. g. measuring
participation and positioning in GVC, assess exposure to shocks...).
Need new macro data, new methods of analysis and new tools to answer
to old and new questions.

New tools
Saving time: lots of theory, lots of data sources, lots of coding.

icio: Economic Analysis with Inter-Country Input-Output Tables in
Stata. tradeconomics.com/icio/
ssc install icio
- computes lots of new measures of GVC participation and trade in
value-added.
- theory: based on Borin and Mancini (2019).
- data: WIOD, TiVA, EORA ready to use + user-provided table.

New tools
Saving time: lots of theory, lots of data sources, lots of coding.

icio: Economic Analysis with Inter-Country Input-Output Tables in
Stata. tradeconomics.com/icio/
ssc install icio
- computes lots of new measures of GVC participation and trade in
value-added.
- theory: based on Borin and Mancini (2019).
- data: WIOD, TiVA, EORA ready to use + user-provided table.
Dataset of country/sector measures based on WIOD, TiVA and

EORA: World Bank WDR2020 website Link

Loading ICIO tables
See the help file:

help icio
See the available ICIO databases:
icio_load, info

Loading ICIO tables
See the help file:

help icio
icio_load, info
Load an Input-Output table: WIOD, TiVA, EORA ready to use
icio_load, iciot(wiodn) year(2014)
icio_load, iciot(tivan) year(2015)
icio_load, iciot(eora) year(2015)
Info on countries and sectors covered by the selected database:
icio, info

Loading ICIO tables
See the help file:

help icio
icio_load, info
Load an Input-Output table: WIOD, TiVA, EORA ready to use
icio_load, iciot(wiodn) year(2014)
icio_load, iciot(tivan) year(2015)
icio_load, iciot(eora) year(2015)
Info on countries and sectors covered by the selected database:
icio, info
But also user-provided tables might be used:
icio_load, iciot(user, userp("D:\data\euregio")
tablen(euregio2010) countrylist(list.csv))

New measures with icio
1 Supply-demand linkages
2 Value-added in trade flows
3 GVC-related exports


Supply-demand linkages
GDP produced in country s:
G X
X G G
X G X
X G
GDPs = Vs Bsk Ykl = Vs Bsk Yks + Vs Bsk Ykl .
k l k k l6=s
| {z } | {z }
domestically GDP absorbed
absorbed GDP abroad (VAXs )

G X
X G G
X G X
X G
k l k k l6=s
| {z } | {z }
Final demand of country s:

G X
X G G
X G
X G
X
FDs = Vj Bjk Yks = Vs Bsk Yks + Vt Btk Yks .
j k k t6=s k
| {z } | {z }
domestically FD produced
produced FD abroad

G X
X G G
X G X
X G
k l k k l6=s
| {z } | {z }
Final demand of country s:

G X
X G G
X G
X G
X
FDs = Vj Bjk Yks = Vs Bsk Yks + Vt Btk Yks .
j k k t6=s k
| {z } | {z }
domestically FD produced
produced FD abroad
Country-sector of origin/final destination:
VA(origin/destination) = VB
b Y.
b

Supply-demand linkages: implementation
1 GDP:
icio, origin(country-code[,sector-code] )
2 Final demand:
icio, destination(country-code[,sector-code] )
3 VA by origin-destination
icio, origin(country-code[,sector-code] )
destination(country-code[,sector-code] )

. icio_load
Loading table wiod 2014... loaded
. *What is the value-added originated in Germany and absorbed in China?
. icio, origin(deu) destination(chn)
Value-Added by origin/destination:
Origin: DEU
Destination: CHN
Output: Value-Added
Millions of $ % of total
Value-Added 101042.25 100.00

. *What is the Germany´s GDP?

. icio, origin(deu)
Value-Added by origin/destination:
Origin: DEU
Output: Value-Added
Millions of $ % of total
Value-Added 3620310.26 100.00

Supply-demand linkages: other examples
What is the GDP (value-added) produced by each country?

icio, origin(all)
How much value-added does each country produces in a given sector?
icio, origin(all,19)
What is the aggregate final demand of each country?
icio, destination(all)
Where the value-added produced in the Italian sector 19 is absorbed?
icio, origin(ita,19) destination(all)
Which final demand sectors in China are the most important for the absorption
of US-made value-added?
icio, origin(usa) destination(chn,all)
Where the GDP produced in each country is absorbed? Save the output as
supplydemand.xls in the current working directory?
icio, origin(all) destination(all) save(supplydemand.xls)
How much USMCA (former NAFTA) countries’ final demand in sector 20 is
satisfied by Chinese productions?
icio, origin(chn) destination(usmca,20) groups(usa, mex, can,
“usmca”)



Tracing value-added in trade flows
In many empirical applications, supply-demand linkages are not enough:

need to trace VA in trade flows.


Start from the aggregate exports of country s:
G
X
uN Es∗ = Vs Bss Es∗ + Vt Bts Es∗ .
t6=s
| {z } | {z }
domestic foreign
content (DCs ) content (FCs )


Start from the aggregate exports of country s:
G
X
uN Es∗ = Vs Bss Es∗ + Vt Bts Es∗ .
t6=s
| {z } | {z }
domestic foreign
content (DCs ) content (FCs )
Main problem: some intermediate goods cross country s border several

times, i.e. they are double counted in exports (Koopman et al., 2014).

Gross Exports

Gross Exports
Domestic Content Foreign Content

(DC) (FC)

Gross Exports

(DC) (FC)
Domestic Domestic Foreign Foreign

Value Added Double Counted Value Added Double Counted
(DVA) (FVA)

Gross Exports

(DC) (FC)

(DVA) (FVA)
Value Added
Exports Reflection
(VAX)

Gross Exports

(DC) (FC)

(DVA) (FVA)
Value Added
Exports Reflection
(VAX)
Directly
absorbed VAX
(DAVAX)
Indirectly
absorbed VAX

New methods
Several ways to trace value-added in gross trade flows, disagreement on

the right method.
We argue that one method does not fit all.
Borin, Mancini, 2019. Measuring What Matters in Global Value Chains
and Value-Added Trade, World Bank WDR Background Paper. Link

New methods

the right method.
New methods and measures:
Depending on the specific empirical issue, how to measure VA
content at the aggregate, bilateral and bilateral-sectoral level.
A measure of GVC-related trade (World Bank WDR 2020).

New methods

the right method.
New methods and measures:
Depending on the specific empirical issue, how to measure VA
content at the aggregate, bilateral and bilateral-sectoral level.
A measure of GVC-related trade (World Bank WDR 2020).
A general scheme to reconcile large part of the existing literature

(pointing out issues of some works).
Hummels et al., 2001; Johnson and Noguera, 2012; Wang et al.,
2013; Koopman et al. 2014; Borin and Mancini, 2015; Los et al.,
2016; Nagengast and Stehrer, 2016; Johnson, 2018; Miroudot and
Ye, 2018; Los and Timmer, 2018.

Different perspectives for different questions

Under one framework, there are several perspectives.
Each one is defined by the perimeter according to which something is
double counted.


double counted.
Double counting defined when items cross twice:


double counted.
A generic border: world persp.
Exporting country border: exporter persp.
Exporter-importer border: bilateral persp.
Exporting country/sector-importer border: sectbil persp.
Exporting country/sector border: sectexp persp.
Importing country border: importer persp.
Importing country/sector border: sectimp persp.


double counted.
A generic border: world persp.
Exporting country border: exporter persp.
Exporter-importer border: bilateral persp.
Exporting country/sector-importer border: sectbil persp.
Exporting country/sector border: sectexp persp.
Importing country border: importer persp.
Importing country/sector border: sectimp persp.
Other works in the literature fit into our general framework:
e.g. Koopman et al. (2014), Wang et al. (2013), Miroudot and Ye (2018): exporter
for DVA and world for FVA. Los et al. (2016): exporter and bilateral for DVA, no
FVA. Johnson (2018): bilateral in a two-country framework. More

⇒What part of world trade is GVC-related?

Almost 50% of world trade.
⇒What part of a country’s exports is home-produced?
E.g. just 75% of Japanese exports consist of Japanese GDP.
⇒What part of a country’s GDP is absorbed abroad?
E.g. for Germany around one third.
⇒What part of a country’s GDP is affected by trade barriers imposed by
a partner?
E.g. Brexit could affect 2.3% of EU GDP.
⇒What part of a country’s GDP is affected by a tariff imposed by an
importer in a given sector?
E.g. US tariffs on the EU auto-motive sector could affect around 10% of
the Italian VA production in that sector.

⇒What part of world trade is GVC-related? Exp.-country

Almost 50% of world trade.
⇒What part of a country’s exports is home-produced? Exp.-country
E.g. just 75% of Japanese exports consist of Japanese GDP.
⇒What part of a country’s GDP is absorbed abroad? Exp.-country
E.g. for Germany around one third.
⇒What part of a country’s GDP is affected by trade barriers imposed by
a partner? Bilateral
E.g. Brexit could affect 2.3% of EU GDP.
⇒What part of a country’s GDP is affected by a tariff imposed by an
importer in a given sector? Sectoral-importer
E.g. US tariffs on the EU auto-motive sector could affect around 10% of
the Italian VA production in that sector.

Accounting for VA in trade: implementation
Depending on the empirical application, the user should select:

1 The desired trade flow with the options
exporter(country-code[,sector-code] ) and/or
importer(country-code[,sector-code] )


2 The best suited accounting perspective(), and approach() if
needed.


needed.
3 The appropriate output() measure and the other options:
Output for exports: detailed, gtrade, dc, fc, va, dva, fva.
Output for imports: gtrade, va.


needed.
3 The appropriate output() measure and the other options:
Output for exports: detailed, gtrade, dc, fc, va, dva, fva.
Output for imports: gtrade, va.
Origin/destination of the flow:
origin(country-code[,sector-code] ) and/or
destination(country-code[,sector-code] )
Country groups: defined with the option groups(grouping-rule
“user-defined-group” [...] )

. icio, exporter(deu)
Decomposition of gross exports:
Perspective: exporter
Exporter: DEU
Importer: total DEU exports
Millions of $ % of export
Gross exports (GEXP) 1681987.25 100.00

Domestic content (DC) 1232206.98 73.26
Domestic Value-Added (DVA) 1208782.54 71.87
VAX -> DVA absorbed abroad 1173781.66 69.79
Reflection 35000.88 2.08
Domestic double counting 23424.44 1.39
Foreign content (FC) 449780.27 26.74
Foreign Value-Added (FVA) 439123.84 26.11
Foreign double counting 10656.43 0.63
GVC-related trade (GVC) 778175.78 46.27

GVC-backward (GVCB) 473204.71 28.13
GVC-forward (GVCF) 304971.07 18.13

. icio, exporter(chn,17) importer(usa)

Perspective: exporter
Exporter: CHN
Importer: USA
Sector of export: 17

DAVAX 72570.84 67.64
GVC-related trade (GVC) 34721.92 32.36

GVC-backward (GVCB) 29906.44 27.87
GVC-forward (GVCF) 4815.48 4.49
DAVAX: Value-Added directly absorbed by the importer

. icio, exporter(chn,17) importer(usa) perspective(sectbil)

Perspective: sectbil
Exporter: CHN
Importer: USA
Sector of export: 17


. icio_load, iciot(user, userp("D:\Dati\EUREGIO") tablen(euregio2010.csv) countrylist(list.csv))

Loading D:\Dati\EUREGIO/euregio2010.csv... loaded
loaded
. icio, origin(all) importer(usa) output(va)
Decomposition of gross imports:
Perspective: importer
Importer: USA
Origin: ALL
Exporter: total USA imports
Output: Value-Added
Millions of $ % of import
AT11 99.94 0.01

AT12 673.66 0.04
AT13 986.53 0.06
AT21 250.86 0.02
AT22 540.69 0.03
AT31 786.75 0.05
AT32 325.41 0.02
AT33 423.95 0.03
AT34 211.26 0.01
AUS 18109.45 1.12
BE10 2089.21 0.13
BE21 2504.91 0.15
BE22 938.01 0.06
BE23 1288.77 0.08
BE24 1376.92 0.09
BE25 1414.20 0.09
BE31 564.13 0.03
BE32 843.50 0.05
BE33 1045.55 0.06
BE34 221.05 0.01
BE35 445.35 0.03
....

Accounting VA in trade flows: other examples
Which part of a country’s total exports is home produced, i.e. is domestic GDP?
icio, exporter(deu) output(dva)
Which part of a country’s total exports can be traced back to other countries
GDP?
icio, exporter(deu) output(fva)
Where the foreign value-added in German exports is produced?
icio, origin(all) exporter(deu) output(fva)
Considering the bilateral exports from Italy to Germany, where the Italian GDP
(domestic VA) re-exported by Germany is absorbed?
icio, exporter(ita) importer(deu) destination(all) output(dva)
How can be obtained the complete breakdown by origin and destination of the
value-added (both domestic and foreign) for Chinese exports to the US?
icio, origin(all) exporter(chn) importer(usa)
destination(all) output(va) save(CHNtoUSA.xls)

Accounting VA in trade flows: other examples
Which is the Chinese GDP that at any point in time, passes through a certain
bilateral trade flow, say Chinese exports to the US?
icio, exp(chn) imp(usa) persp(bilat) output(dva)
Which is the German GDP potentially exposed to US tariffs on all imports?
icio, origin(deu) imp(usa) persp(importer) output(va)
Which is the German GDP that could be affected by US tariffs on imports in
sector 20?
icio, origin(deu) imp(usa,20) persp(sectimp) output(va)
Which is the exposure of US GDP to a Chinese tariff on US imports in sector 17?
icio, exp(usa,17) imp(chn) persp(sectbil) output(dva)
To what extent are Italian sectors exposed to a shock on German’s exports in
sector 20?
icio, origin(ita,all) exp(deu,20) persp(sectexp) output(va)



GVC-related exports (Borin Mancini, 2015, 2019)

Natural measure of GVC: “Value of goods and services crossing more
than one border”.


than one border”.
Traditional exports (non GVC): value of goods and services crossing
just one border, consumed by direct partner (feature of the
exporting-country perspective).
DAVAXsr = Vs (I − Ass )−1 Ysr + Vs (I − Ass )−1 Asr (I − Arr )−1 Yrr


than one border”.
Then we compute the value of production that crosses multiple

borders, i.e. GVC-trade:
G
X
GVCs = uN Esr − DAVAXsr
r 6=s


than one border”.

G
X
r 6=s
Easy to separate backward and forward GVC. More


than one border”.

G
X
r 6=s
Easy to separate backward and forward GVC. More

Other measures of GVC-exports computed with other frameworks fail
(Koopman et al., 2014; Wang et al., 2013; Aslam et al., 2017). Others
GVC exports: implementation
Step 1: Selection of the export flow:

- icio, exporter(country-code )
- icio, exporter(country-code,sector-code )
- icio, exporter(country-code ) importer(country-code )
- icio, exporter(country-code,sector-code )
importer(country-code )
Step 2: Selection of the output():
- total GVC participation: gvc
- backward GVC participation: gvcb
- forward GVC participation: gvcf

Which share of the German exports is related to GVC, i.e. cross more than one
border?
icio, exporter(deu) output(gvc)
Which share of the German exports is related to backward and forward GVC?
icio, exporter(deu) output(gvcb)
icio, exporter(deu) output(gvcf)

GVC-exports at the global level

Figure O.1 GVC trade grew rapidly in lower trade barriers indu
the 1990s but stagnated after the 2008 production processes be
global financial crisis O.1). GVC growth was
electronics, and transpo
55
specializing in those sect
GVC share of global trade (%) and Western Europe. Mo
50
participate in complex
manufactures and servic
45
activities (map O.1). By
Africa, Latin America, a
40
commodities for further
In recent years, how
35
have slowed (figure O.1).
overall economic growth
30
Another reason is the slo
70
75
80
85
90
95
00
05
10
15
of trade reforms. Furthe
19
19
19
19
19
19
20
20
20
20
Sources: WDR 2020 team, using data from Eora26 database; Borin and production in the most
Mancini (2019); and Johnson and Noguera (2017). See appendix A for a
has matured. China is p
description of the databases used in this Report.
the United States, a bo
Note: See figure 1.2 in chapter 1 for details. Unless otherwise specified, GVC
Source:
participation measures usedWorld Bank
in this and WDR2020.
subsequent figures throughout the oil imports by one-fourt
Report follow the methodology from Borin and Mancini (2015, 2019). slightly reduced the ince
Thank you for your attention

Perspective Perspective
in line with consistent with
the trade flow more aggregate flows
1. Total exports
1a. Aggregate Exporting country World
1b. Sectoral Sectoral-exporter Exporting country
2. Bilateral exports
2a. Aggregate Bilateral Exporting country
2b. Sectoral Sectoral-bilateral Exporting country
3. Total imports
3a. Aggregate Importer n.a.
3b. Sectoral Sectoral-importer n.a.
Back
Belotti, Borin, Mancini icio NESPUTT2019 1/7

A focus on BM (2015,2019) direct absorption
To trace GVC, find DVA re-exported, i. e. total DVA-DAVAX.
Focus on direct absorption:
G
X G
X
DAVAXs = Vs (I − Ass )−1 Ysr + Vs (I − Ass )−1 Asr (I − Arr )−1 Yrr
r 6=s r 6=s

G
X G
X
r 6=s r 6=s
Koopman et al. (2014):

G G
X X
Vs Bss Ysr + Vs Bsr Yrr
r 6=s r 6=s

G
X G
X
r 6=s r 6=s

G G
X X
r 6=s r 6=s
Wang et al. (2013):

G G
X X
Vs Bss Ysr + Vs (I − Ass )−1 Asr Brr Yrr
r 6=s r 6=s
Back

G
X G
X
r 6=s r 6=s

G G
X X
r 6=s r 6=s
Wang et al. (2013):

G G
X X
Vs Bss Ysr + Vs (I − Ass )−1 Asr Brr Yrr
r 6=s r 6=s
Wang et al. (2017, 2018): acknowledge that our approach is the

most appropriate to single out “traditional trade”.
Back

GVC participation: backward and forward
Consider the exports of country s, Es∗ . Single out GVC backward
and forward participation:
G G
X X
GVCBs = DDCsr + FCsr
r 6=s t6=r

G G
X X
r 6=s t6=r
G
X G
X
GVCFs = DVAsr − DAVAXsr
r 6=s r 6=s

G G
X X
r 6=s t6=r
G
X G
X
r 6=s r 6=s
Remark 1: GVCBs = VSs (Hummels et al. 2001)

G G
X X
r 6=s t6=r
G
X G
X
r 6=s r 6=s

Remark 2: GVCFs differs from VS1s ad defined by Koopman et al.
(2014) and Aslam et al. (2017):
G
X
Vs Bsr Er ∗
r 6=s
Back

G G
X X
r 6=s t6=r
G
X G
X
r 6=s r 6=s

Remark 2: GVCFs differs from VS1s ad defined by Koopman et al.
(2014) and Aslam et al. (2017):
G
X
Vs Bsr Er ∗
r 6=s
Not a portion of country s exports (traced in Er ∗ )

Increases with the upstreamness of a country..
Back

Other measures of GVC-participation
GVC-related output: same logic of GVC-trade, but applied to total

sales (input+VA). Could be relevant to provide a more general
assessment on the GVC role in the entire economic activity.


Wang et al. (2017), building on Borin Mancini (2015) logic:
GVC in VA: measure forward GVC participation in GDP.
GVC in final demand: measure backward GVC in final goods
production.


Wang et al. (2017), building on Borin Mancini (2015) logic:
GVC in VA: measure forward GVC participation in GDP.
GVC in final demand: measure backward GVC in final goods
production.
Potential drawback: if a country/sector process intermediates,
without adding a lot of VA, and exports intermediates instead of
final goods, GVC in VA and GVC in final demand are not suited.
Back

GDP embedded in exports?
Country-level perspective
ITALY GERMANY
CHINA

ITALY GERMANY
CHINA

ITALY GERMANY
DOUBLE
COUNTED VA
CHINA

GDP affected by a shock on imports of a partner?
Bilateral perspective
ITALY GERMANY
CHINA

GDP affected by a shock on imports of a partner?
Bilateral perspective
ITALY GERMANY
CHINA

. *Replicate data of WDR2020 Figure 4.9
. icio_load, iciot(eora) year(2015)
Loading table eora 2015... loaded
. icio, exp(chn) imp(usa) persp(bilat) output(va) origin(all) save(wdr_4_9a.xls)
Perspective: bilateral
Origin: ALL
Exporter: CHN
Importer: USA
Output: Value-Added
AUS 2115.55 0.57

BEL 610.65 0.17
BRA 1046.77 0.28
CAN 955.66 0.26
CHE 977.48 0.27
DEU 4058.78 1.10
FRA 1919.28 0.52
GBR 1604.30 0.44
HKG 1489.18 0.40
IDN 1692.15 0.46
IND 1123.87 0.31
ITA 1564.26 0.42
JPN 7535.08 2.05
KOR 6554.82 1.78
MYS 1604.49 0.44
NLD 748.18 0.20
RUS 2208.83 0.60
SGP 1005.21 0.27
THA 964.69 0.26
USA 5126.99 1.39
Output saved as: wdr_4_9a.xls into the current working directory


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New measures for new questions icio setup Supply-demand linkages Value-added in trade flows GVC-related exports

Federico Belotti1 Alessandro Borin2 Michele Mancini2

International workshop NESPUTT

Belotti, Borin, Mancini icio NESPUTT2019 1 / 29

International fragmentation of production

Since ICT revolution and globalization: traditional trade statistics do not

Belotti, Borin, Mancini icio NESPUTT2019 2 / 29

International fragmentation of production

Since ICT revolution and globalization: traditional trade statistics do not

Belotti, Borin, Mancini icio NESPUTT2019 2 / 29

International fragmentation of production

Since ICT revolution and globalization: traditional trade statistics do not

Belotti, Borin, Mancini icio NESPUTT2019 2 / 29

Saving time: lots of theory, lots of data sources, lots of coding.

Belotti, Borin, Mancini icio NESPUTT2019 3 / 29

Saving time: lots of theory, lots of data sources, lots of coding.

Dataset of country/sector measures based on WIOD, TiVA and

Belotti, Borin, Mancini icio NESPUTT2019 3 / 29

Loading ICIO tables

See the help file:

Belotti, Borin, Mancini icio NESPUTT2019 4 / 29

Loading ICIO tables

See the help file:

Belotti, Borin, Mancini icio NESPUTT2019 4 / 29

Loading ICIO tables

See the help file:

Belotti, Borin, Mancini icio NESPUTT2019 4 / 29

New measures with icio

Belotti, Borin, Mancini icio NESPUTT2019 5 / 29

New measures with icio

Belotti, Borin, Mancini icio NESPUTT2019 5 / 29

Belotti, Borin, Mancini icio NESPUTT2019 6 / 29

Final demand of country s:

Belotti, Borin, Mancini icio NESPUTT2019 6 / 29

Final demand of country s:

Country-sector of origin/final destination:

Belotti, Borin, Mancini icio NESPUTT2019 6 / 29

Supply-demand linkages: implementation

Belotti, Borin, Mancini icio NESPUTT2019 7 / 29

Value-Added 101042.25 100.00

Belotti, Borin, Mancini icio NESPUTT2019 8 / 29

. *What is the Germany´s GDP?

Value-Added 3620310.26 100.00

Belotti, Borin, Mancini icio NESPUTT2019 9 / 29

Supply-demand linkages: other examples

What is the GDP (value-added) produced by each country?

Belotti, Borin, Mancini icio NESPUTT2019 10 / 29

New measures with icio

Belotti, Borin, Mancini icio NESPUTT2019 11 / 29

New measures with icio

Belotti, Borin, Mancini icio NESPUTT2019 11 / 29

Tracing value-added in trade flows

In many empirical applications, supply-demand linkages are not enough:

Belotti, Borin, Mancini icio NESPUTT2019 12 / 29

Tracing value-added in trade flows

In many empirical applications, supply-demand linkages are not enough:

Belotti, Borin, Mancini icio NESPUTT2019 12 / 29

Tracing value-added in trade flows

In many empirical applications, supply-demand linkages are not enough:

Main problem: some intermediate goods cross country s border several

Belotti, Borin, Mancini icio NESPUTT2019 12 / 29

Belotti, Borin, Mancini icio NESPUTT2019 13 / 29