文章基本信息

标题：Global Supply Chain Disruptions and Inflation During the COVID-19 Pandemic
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作者：Ana Maria Santacreu ; Jesse LaBelle
期刊名称：Federal Reserve Bank of St. Louis Review
印刷版ISSN：0014-9187
出版年度：2022
卷号：104
期号：2
DOI：10.20955/r.104.78-91
语种：English
出版社：Federal Reserve Bank of St. Louis
摘要：We investigate the role supply chain disruptions during the COVID-19 pandemic played in U.S. producer price index (PPI) inflation. We exploit pre-pandemic cross-industry variation in sourcing patterns across countries and interact it with measures of international supply chain bottlenecks during the pandemic. We show that exposure to global supply chain disruptions played a significant role in U.S. cross-industry PPI inflation between January and November 2021. If bottlenecks had followed the same path as in 2019, PPI inflation in the manufacturing sector would have been 2 percentage points lower in January 2021 and 20 percentage points lower in November 2021.