A New Supply Bottlenecks Index Based on Newspaper Data

Pablo Burriel, Iván Kataryniuk, Carlos Moreno Pérez and Francesca Viani
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Pablo Burriel: Banco de España

International Journal of Central Banking, 2024, vol. 20, issue 2, 17-67

Abstract: We develop a new monthly indicator of supply bottlenecks using newspaper articles. The supply bottlenecks index (SBI) provides a consistent narrative of supply issues related to wars, natural disasters, strikes, and, most recently, the COVID-19 pandemic. Innovations in the SBI have important macroeconomic implications: an increase in the SBI works as a costpush shock, decreasing industrial production and employment and pushing prices up, making monetary policy face important trade-offs.

JEL-codes: E23 E31 F40 (search for similar items in EconPapers)
Date: 2024
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Citations: View citations in EconPapers (5)

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Working Paper: A new supply bottlenecks index based on newspaper data (2023)
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Persistent link: https://EconPapers.repec.org/RePEc:ijc:ijcjou:y:2024:q:2:a:2

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