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In data, bilateral trade is strongly correlated with bilateral GDP comovement. This paper examines whether trade in intermediate inputs explains this empirical fact. I integrate input trade into a many country, multi-sector model and calibrate the model to data on bilateral input-output linkages. With estimated productivity shocks, the model generates an aggregate trade-comovement correlation 30-40% as large as in data. This moderate aggregate correlation emerges because the model matchesdoi:10.3386/w18240 fatcat:deygows44zcipo7xfeqyb3pjom