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Showing results 1 to 5 of approximately 5.
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Journal Article
Global Supply Chain Disruptions Can Be Seen Anywhere, but Their Costs Are Not the Same Everywhere
Although ubiquitous, supply chain challenges are exerting more cost pressures on the types of businessesconcentrated in the Tenth Federal Reserve District. Businesses in the region are less willing or able to adjustthe amount of imported goods they purchase even when procurement prices rise precipitously, as they have over the past year.
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.
Journal Article
The Impacts of Supply Chain Disruptions on Inflation
Since early 2021, inflation has consistently exceeded the Federal Reserve’s target of 2 percent. Using a combination of data, economic theory, and narrative information around historical events, we empirically assess what has caused persistently elevated inflation. Our estimates suggest that both aggregate demand and supply factors, including supply chain disruptions, have contributed significantly to high inflation.
Comparing Value-Added Trade and Gross Trade
Which one provides a more accurate picture of global trade? And what does the U.S. trade balance with several major trading partners look like for the two measures?
Working Paper
Tariff Rate Uncertainty and the Structure of Supply Chains
We show that reducing the probability of a trade war promotes long-term importer-exporter relationships that ensure provision of high-quality inputs via incentive premia. Empirically, we introduce a method for distinguishing between these long-term relationships--which the literature has termed "Japanese" due to their introduction by Japanese firms--from spot-market relationships in customs data. We show that the use of "Japanese" relationships varies intuitively across trading partners and products and find that the use of such relationships increases after a reduction in the possibility of ...