COVID-19 Supply Chain Disruptions

Matthias Meier and Eugenio Pinto

European Economic Review, 2024, vol. 162, issue C

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.

Keywords: Supply chain disruptions; Lockdowns; Cross-country spillovers; COVID-19 (search for similar items in EconPapers)
JEL-codes: E23 E32 F14 F6 H12 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:eecrev:v:162:y:2024:i:c:s0014292124000035

DOI: 10.1016/j.euroecorev.2024.104674

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