Journal Article
International Shipping Costs: Determinants and Outlook
Leibovici, Fernando; Dunn, Jason (2022-11-21)
The COVID-19 period saw a huge rise in international shipping costs, but price pressure is likely to ease further as containerships on order are built and delivered.
The Regional Economist

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 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

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

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

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

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

How U.S. Import Shipping Costs Vary across Countries and Industries
Dunn, Jason; Leibovici, Fernando (2023-04-17)
Shipping costs vary greatly across countries and industries. So surging costs likely have a greater impact on imports from distant sources and imports of large, low-value goods.
On the Economy

Journal Article
A Shutoff of Russian Natural Gas
Neely, Christopher J.; Dunn, Jason (2022-11-17)
A shutoff of Russian natural gas to Europe will produce heterogenous effects that reflect local winter weather, national dependence on such flows, and policy responses.
Economic Synopses , Issue 29 , Pages 1-2

Journal Article
U.S. Trade of Semiconductors: Cross-Country Patterns and Historical Dynamics
Leibovici, Fernando; Dunn, Jason (2022-12-07)
How dependent is the U.S. on other countries to access semiconductors? How much has this dependence changed over time? And which countries are key players?
Economic Synopses , Issue 31 , Pages 1-3