Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/305564 
Year of Publication: 
2024
Series/Report no.: 
CESifo Working Paper No. 11322
Publisher: 
CESifo GmbH, Munich
Abstract: 
Economy-wide shocks affect demand, supply, and intermediary sectors simultaneously. We dissect the impact of the Covid-19 pandemic on international trade by combining information from customs records, smartphone-based human mobility, and container ship port calls. We find that local disruptions to domestic demand reduced import quantities, while local disruptions to foreign supply and at seaports increased import prices and reduced quantities. On net, local disruptions during the pandemic were a negative supply shock, and the residual structural factors were a positive demand shock. The resulting excess import demand contributed to the rise in domestic inflation.
Subjects: 
international trade
local disruptions
human mobility
shipping costs
Covid-19 pandemic
inflation
JEL: 
F10
F14
F16
I12
I18
R41
Document Type: 
Working Paper
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