State Dependence of Monetary Policy During Global Supply Chain Disruptions
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We study how global supply chain disruptions affect monetary policy transmission. Post-pandemic evidence indicates surging transportation costs, goods-market imbalances, and rising prices. We develop a model in which logistical bottlenecks (upstream slack coexisting with downstream shortages)
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美国国家经济研究局创建时间：
2026-05-01
