Working Paper
Navigating the Waves of Global Shipping: Drivers and Aggregate Implications
Dunn, Jason; Leibovici, Fernando (2023-02)
This paper studies the drivers of global shipping dynamics and their aggregate implications. We document novel evidence on the dynamics of global shipping supply, demand, and costs. Motivated by this evidence, we set up a dynamic model of international trade with a global shipping market where shipping firms and importers endogenously determine shipping supply and costs. We find the model successfully accounts for the dynamics of global shipping observed in the aftermath of COVID-19 as well as at business cycle frequencies. We find that accounting for global shipping is critical for the ...
Working Papers , Paper 2023-002

Trade Linkages in the Shadow of the Russia-Ukraine War
Dunn, Jason; Leibovici, Fernando (2022-03-29)
Skeptics have raised questions about the future of globalization. Could divisions over the war provide insights into the strength of global trade ties?
On the Economy

Journal Article
The Impact of Inflation’s Wealth Transfer Effect
Chien, YiLi; Dunn, Jason (2022-08-25)
Recent inflation in a set of advanced economies significantly reduced the purchasing power of assets like checking accounts and transferred wealth from lenders to borrowers.
The Regional Economist

Reviewing the Impact of Energy Sanctions on Russia
Neely, Christopher J.; Dunn, Jason (2023-02-16)
So far, Western sanctions on Russian oil and gas exports appear to be working. But in the longer term, Russia may find ways to evade the price cap imposed on its oil sales.
On the Economy

Shipping Disruptions in the Red Sea: Ripples across the Globe
Dunn, Jason; Leibovici, Fernando (2024-02-15)
Recent attacks on cargo vessels in the Red Sea have disrupted a major shipping lane. This analysis looks at the impact on shipping costs and global trade flows.
On the Economy

Working Paper
Navigating the Waves of Global Shipping: Drivers and Aggregate Implications
Dunn, Jason; Leibovici, Fernando (2023-02)
This paper studies the drivers of global shipping dynamics and their aggregate implications. We document novel evidence on the dynamics of global shipping supply, demand, and prices. Motivated by this evidence, we set up a multi-country dynamic model of international trade with a global shipping market where shipping companies and importers endogenously determine shipping supply and prices. We find the model can successfully account for the dynamics of global shipping observed in the aftermath of COVID-19 and that accounting for these has important implications for the dynamics of aggregate ...
Working Papers , Paper 2023-002

Journal Article
The Increased Tradability of Natural Gas
Leibovici, Fernando; Dunn, Jason (2022-12-15)
Technological developments have increased the tradability of natural gas. Researchers Leibovici and Dunn identify potential bottlenecks that may limit growth in this market.
Economic Synopses , Issue 32 , Pages 1-3

The Dynamics of International Shipping Supply
Dunn, Jason; Leibovici, Fernando (2022-02-08)
Recent history suggests that the sharp rise in shipping prices will lead to more container ships, but deliveries of new ships will take years.
On the Economy

Working Paper
Navigating the Waves of Global Shipping: Drivers and Aggregate Implications
Dunn, Jason; Leibovici, Fernando (2024-02)
This paper studies the drivers of global shipping dynamics and their aggregate implications. We document novel evidence on the dynamics of global shipping supply, demand, and costs. Motivated by this evidence, we set up a dynamic model of international trade with a global shipping market where shipping firms and importers endogenously determine shipping supply and costs. We find the model successfully accounts for the dynamics of global shipping observed in the aftermath of COVID-19 as well as at business cycle frequencies. We find that accounting for global shipping is critical for the ...
Working Papers , Paper 2023-002

Journal Article
US Barriers to International Trade of Goods: Tariffs and Non-Tariff Measures
Leibovici, Fernando; Dunn, Jason (2023-04-28)
US imports are obstructed by both tariffs and non-tariff measures, which vary significantly across industries.
Economic Synopses , Issue 9 , Pages 3 pages