Riset NBER working papers
Shipping to America -- by Xiwen Bai, Jesús Fernández-Villaverde, Yiliang Li, Ricardo Marto, Francesco Zanetti
We study the macroeconomic and trade-policy implications of disruptions to U.S.-bound shipping routes. Standard models treat them as iceberg-cost shocks, conflating the shock with the response to it. Using satellite vessel-tracking data, we construct route-level measures of poten