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Working Paper
Navigating the Waves of Global Shipping: Drivers and Aggregate Implications
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 Paper
Navigating the Waves of Global Shipping: Drivers and Aggregate Implications
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 Paper
Navigating the Waves of Global Shipping: Drivers and Aggregate Implications
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 ...