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

No 2304, Working Papers from Banco de España

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 functions as a cost-push shock, decreasing industrial production and employment, and pushing prices up, so that monetary policy faces important trade-offs.

Keywords: bottlenecks; supply disruptions; inflation; monthly index (search for similar items in EconPapers)
JEL-codes: E00 F00 (search for similar items in EconPapers)
Pages: 52 pages
Date: 2023-01
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Citations: View citations in EconPapers (12)

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https://www.bde.es/f/webbde/SES/Secciones/Publicac ... 23/Files/dt2304e.pdf First version, January 2023 (application/pdf)

Related works:
Journal Article: A New Supply Bottlenecks Index Based on Newspaper Data (2024)
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Persistent link: https://EconPapers.repec.org/RePEc:bde:wpaper:2304

DOI: 10.53479/25166

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