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COVID-19 Supply Chain Disruptions

Author

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  • Meier, Matthias
  • Pinto, Eugenio

Abstract

In the early phase of the COVID-19 crisis, China imposed widespread lockdowns to contain the virus. We study the spillovers from the lockdowns to the US economy. We find that sectors with a high exposure to intermediate goods imports from China experienced significantly larger declines in production, employment, imports, and exports. In addition, relative input and output prices increased in these sectors. At the peak of the recession in April 2020, output was 16% lower in sectors with a one standard deviation higher China exposure. The estimated effects on output, input, and inflation are short-lived and dissipate by summer 2020.

Suggested Citation

  • Meier, Matthias & Pinto, Eugenio, 2024. "COVID-19 Supply Chain Disruptions," European Economic Review, Elsevier, vol. 162(C).
    • Handle: RePEc:eee:eecrev:v:162:y:2024:i:c:s0014292124000035
    DOI: 10.1016/j.euroecorev.2024.104674
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    Keywords

    Supply chain disruptions; Lockdowns; Cross-country spillovers; COVID-19;
    All these keywords.

    JEL classification:

    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F6 - International Economics - - Economic Impacts of Globalization
    • H12 - Public Economics - - Structure and Scope of Government - - - Crisis Management
    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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