The Impacts of Supply Chain Disruptions on Inflation

Todd Clark and Matthew Gordon

Economic Commentary, 2023, vol. 2023, issue 08, 8

Abstract: Since early 2021, inflation has consistently exceeded the Federal Reserve’s target of 2 percent. Using a combination of data, economic theory, and narrative information around historical events, we empirically assess what has caused persistently elevated inflation. Our estimates suggest that both aggregate demand and supply factors, including supply chain disruptions, have contributed significantly to high inflation.

Keywords: Covid-19; Inflation (search for similar items in EconPapers)
Date: 2023
Note: Download the appendix - https://www.clevelandfed.org/-/media/project/clevelandfedtenant/clevelandfedsite/publications/economic-commentary/2023/ec-202308-impacts-supply-chain-disruptions-on-inflation/ec_supply-chains_appendix.pdf
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DOI: 10.26509/frbc-ec-202308

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