Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments May 31, 2023 erstellt
Beschreibung:
The COVID-19 pandemic has created an unprecedented economic environment marked by extensive disruptions in global supply chains and soaring inflation rates. This paper studies the impact of supply chain disruptions on consumer price inflation and examines how the effect varies across time and countries. The results uncover that a global supply chain shock significantly raises consumer price inflation in the US, the Euro Area, and the UK. Notably, the effect is consistently positive, even before the COVID-19 pandemic, with the strongest impact occurring in the US and the mildest in the UK. Furthermore, this study finds that global supply chain shocks are important drivers of consumer price inflation in all three countries, accounting for 15 – 30 percent of the variation of consumer price inflation over a three-year horizon