Π‘ΡΠ΄ΡΡΠΆΠ°Π½ΠΈΠ΅ΡΠΎ Π½Π΅ Π΅ Π½Π°Π»ΠΈΡΠ½ΠΎ Π½Π° Π±ΡΠ»Π³Π°ΡΡΠΊΠΈ Π΅Π·ΠΈΠΊ.
Maria Christine Saliba
- 31 January 2025
- WORKING PAPER SERIES - No. 3015Details
- Abstract
- This paper examines the great supply shock following the pandemic and the invasion of Ukraine, using a novel suite of supply indices. The suite has indices for the euro area total economy, euro area industries, sectors and countries. The suite also computes the contributions to the indices from supply drivers at origin, in transport, or at destination. The results from the suite show that the supply shock has had wide-spread effects, and that their dynamics have been industry-, sector- and country-specific. Supply conditions have been tighter for longer in the euro area than other areas, in automobile than digital and food industries, in services relative to other sectors, and in some countries than others. The drivers at home appear to account for an increasing share of the specificity at the end of the sample, and a broader data set helps to better capture these drivers. The results also confirm that the supply indices in the suite lag supply shocks and lead variables susceptible to the effects of supply shocks.
- JEL Code
- C43 : Mathematical and Quantitative MethodsβEconometric and Statistical Methods: Special TopicsβIndex Numbers and Aggregation
C82 : Mathematical and Quantitative MethodsβData Collection and Data Estimation Methodology, Computer ProgramsβMethodology for Collecting, Estimating, and Organizing Macroeconomic Data, Data Access
E66 : Macroeconomics and Monetary EconomicsβMacroeconomic Policy, Macroeconomic Aspects of Public Finance, and General OutlookβGeneral Outlook and Conditions
R32 : Urban, Rural, Regional, Real Estate, and Transportation EconomicsβReal Estate Markets, Spatial Production Analysis, and Firm LocationβOther Spatial Production and Pricing Analysis
R41 : Urban, Rural, Regional, Real Estate, and Transportation EconomicsβTransportation EconomicsβTransportation: Demand, Supply, and Congestion, Safety and Accidents, Transportation Noise