Macroeconomic Effects of Maritime Transport Costs Shocks: Evidence from the South Korean Economy
Xingong Ding,
Yong-Jae Choi
Abstract:In the aftermath of the COVID-19 pandemic, the dramatic increase in maritime transport costs might potentially exert detrimental impacts on the macroeconomy, especially for countries that heavily rely on international trade for their consumption and production activities. Our study employs a small open economy DSGE (Dynamic Stochastic General Equilibrium) model to analyze the impact of maritime transport costs on the South Korean macroeconomy, where maritime transport costs are considered as key factors impact… Show more
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