What Drives U.S. Import Price Inflation?

Mary Amiti, Oleg Itskhoki, David Weinstein

Inflation has risen sharply in many countries since the COVID-19 outbreak. Economists have debated the underlying causes. In this paper, we examine the drivers of the global import price inflation, which peaked at approximately 11 percent a year. We find that a common global component closely tracks movements in aggregate U.S. import prices until late 2022. Afterward, idiosyncratic U.S. demand shocks started to dominate

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Year of publication:	February 2024
Authors:	Amiti, Mary ; Itskhoki, Oleg ; Weinstein, David E.
Institutions:	National Bureau of Economic Research (issuing body)
Publisher:	Cambridge, Mass : National Bureau of Economic Research
Subject:	Inflation \| Außenhandelspreis \| Foreign trade price \| USA \| United States

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Extent:	1 Online-Ressource illustrations (black and white)
Series:	NBER working paper series ; no. w32133
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Arbeitspapier ; Working Paper ; Graue Literatur ; Non-commercial literature
Language:	English
Notes:	Hardcopy version available to institutional subscribers
Other identifiers:	10.3386/w32133 [DOI]
Classification:	E31 - Price Level; Inflation; Deflation ; F14 - Country and Industry Studies of Trade ; F42 - International Policy Coordination and Transmission
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014486225