The GSCPI: A New Barometer of Global Supply Chain Pressures

Gianluca Benigno, Julian di Giovanni, Jan Groen and Adam I. Noble

No 1017, Staff Reports from Federal Reserve Bank of New York

Abstract: We propose a novel indicator to capture pressures that arise at the global supply chain level, the Global Supply Chain Pressure Index (GSCPI). The GSCPI provides a new monitoring tool to gauge global supply chain conditions. We assess the index’s capacity to explain inflation outcomes, using the local projection method. Our analysis shows that recent inflationary pressures are closely related to the behavior of the GSCPI, especially at the level of producer price inflation in the United States and the euro area.

Keywords: global supply chain; inflation; transportation costs (search for similar items in EconPapers)
JEL-codes: F10 F20 F40 (search for similar items in EconPapers)
Pages: 22
Date: 2022-05-01
New Economics Papers: this item is included in nep-eec and nep-int
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Citations: View citations in EconPapers (50)

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