Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/336418 
Year of Publication: 
2025
Citation: 
[Journal:] Latin American Journal of Central Banking (LAJCB) [ISSN:] 2666-1438 [Volume:] 6 [Issue:] 1 [Article No.:] 100141 [Year:] 2025 [Pages:] 1-14
Publisher: 
Elsevier, Amsterdam
Abstract: 
Supply-chain bottlenecks emerged alongside unprecedented inflationary surges amid the resulting mismatches in supply and demand for goods and services throughout the COVID-19 pandemic. This study employs a local projection approach to investigate the inflationary impact of global supply-chain pressures in the Philippines and select East Asian neighbors. We find that supply-chain disruptions are followed by sizable and statistically significant increases in headline inflation in the Philippines, Rep. of Korea, Thailand, and Singapore. Supply-chain shocks also have a considerable impact on the tradable segment of core inflation. Meanwhile, non-tradable inflation has a generally smaller, short-lived, and insignificant response to global supply-chain pressures reflecting the limited presence of second-round, indirect effects.
Subjects: 
Global supply chains
Inflation
Monetary policy
JEL: 
E31
E52
F10
C1
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Article

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