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The Causal Effects of Global Supply Chain Disruptions on Macroeconomic Outcomes: Evidence and Theory

By Xiwen Bai, Jesús Fernández-Villaverde, Yiliang Li, and Francesco Zanetti

American Economic Review

We study the causal effects of global supply chain disruptions by constructing a new index of real-time port congestion using Automatic Identification System data from container ships and a spatial clustering algorithm. We develop a model with search f...