Search Results

Showing results 1 to 7 of approximately 7.

(refine search)
Jel Classification:F01 

Working Paper
Tariff passthrough at the border and at the store: evidence from US trade policy

We use micro data collected at the border and at retailers to characterize the effects brought by recent changes in US trade policy ? particularly the tariffs placed on imports from China ? on importers, consumers, and exporters. We start by documenting that the tariffs were almost fully passed through to the total prices paid by importers, suggesting that the tariffs? incidence has fallen largely on the United States. Since we estimate the response of prices to exchange rates to be far more muted, the recent depreciation of the Chinese renminbi is unlikely to alter this conclusion. Next, ...
Working Papers , Paper 19-12

Journal Article
How Has the Current Lockdown in China Affected the Global Supply Chain?

The recent lockdown in China is expected to exacerbate disruptions in the global supply chain. Using high-frequency data, I show that supply chain disruptions from the current lockdown are likely to be less severe than those from the lockdown in 2020. However, highly transmissible COVID-19 variants continue to present risks, and supply chain disruptions could intensify if the current lockdown is extended or applied to other regions of China.
Economic Bulletin , Issue May 20, 2022 , Pages 4

The Recent Steepening of Phillips Curves

The Phillips curve captures the empirical inverse relationship between the level of inflation and unemployment. The reciprocal of its slope, sometimes referred to as the “sacrifice ratio,” represents the increase in the unemployment rate associated with a 1 percentage point reduction in the inflation rate. In this Chicago Fed Letter, we provide evidence that the Phillips curve has steepened in many industrialized countries since the start of the recovery from the Covid-19 pandemic. This suggests a lower sacrifice ratio now than before 2020.
Chicago Fed Letter , Volume No 475

Journal Article
China's Post-COVID Recovery: Implications and Risks

China removed most of its COVID-19 restrictions in November 2022 following a year of weak growth. Despite initial uncertainty about sustained COVID-19 outbreaks, the Chinese economy has begun to rebound, driven by domestic consumption. The rebound is likely to boost global growth.
Economic Bulletin

Journal Article
Alternative Indicators for Chinese Economic Activity Using Sparse PLS Regression

Official Chinese GDP growth rates have been remarkably smooth over the past decade, in contrast with alternative Chinese economic data. To better identify Chinese business cycles, we construct a sparse partial least squares (PLS) factor from a wide array of Chinese higher-frequency data, targeted toward variables that are highly correlated with important aspects of the Chinese economy. Our resulting alternative growth indicator clearly identifies Chinese business cycle fluctuations and it performs well both in out-of-sample testing for China as well as when applied to other economies. Using ...
Economic Policy Review , Volume 26 , Issue 4 , Pages 39-68

Journal Article
Evaluating International Economic Policy with the Federal Reserve's Global Model

FRB/Global is a large-scale macroeconomic model developed and maintained by the Board's staff. This article provides a historical perspective on the development of the model, gives an overview of its structure, and highlights its dynamic properties with three simulation experiments: a reduction in U.S. government purchases; a depreciation of the U.S. dollar; and an increase in the price of oil exported by OPEC. The article illustrates other uses of FRB/Global by examining the spillover effects of fiscal and monetary policy under alternative European monetary policy regimes.
Federal Reserve Bulletin , Volume 83 , Issue 10 , Pages pp. 797-817

Journal Article
The euro and global turbulence: member countries gain stability

The pattern of adjustment of euroarea countries? external competitiveness to dollar and risk aversion shocks has become more similar since the euro?s creation.
Economic Letter , Volume 8 , Issue 11



FILTER BY Content Type

FILTER BY Jel Classification

C22 1 items

C55 1 items

E20 1 items

E31 1 items

E50 1 items

show more (8)

FILTER BY Keywords