MarcusHamiltonjr_Article Analysis Assignment

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1 The Effect of Supply Chain Issues on Global Commerce University of Maryland Global Campus LIBS 150 6984 Karen Costa March 14, 2020

2 The Effect of Supply Chain Issues on Global Commerce STEP 1: Giovanna, J. D., Kalemli-Ozcan, S., Silva, A., & Yildirim, M. A. (2022, July). Global supply chain pressures, international trade, and inflation . Retrieved March 9, 2023, from https://www.newyorkfed.org/medialibrary/media/research/staff_reports/sr1024.pdf STEP 2: What effects have supply chain problems had on international trade? Supply and demand have not yet fully recovered, even though government agencies around the world have declared the pandemic to be over. In reality, Covid-19 was the result of a conflation of sectoral demand and supply shocks that spread within and across countries via input-output networks, leading to demand-supply imbalances around the world and the so-called supply chain bottleneck problem. STEP 3: We learned in class that information found in peer-reviewed sources, like the one I used to evaluate this article, is more trustworthy than that found in less vetted sources. This article is unbiased, reliable, and accurate. Several tables are used to support the article's claims, formulas and other published works from various authors were also used. Additionally, as an informed consumer and avid reader, I can attest that Covid -19 is still affecting the laws of supply and demand, as shown by the persistent scarcity of food and other goods. STEP 4 The authors utilized numerous published works by other authors throughout this article to not only support their position but also lend credibility to what they were writing. In fact, they are cited as saying, "We follow C Akmal et al. (2021) and extend the closed-economy model presented by Baqaee and Farhi (2022) in order to analyze the effects of global inter-industry linkages on Euro Area inflation." Not only does this help the authors explain what a closed economy is, but it also explains how the effects of global inter-industry linkages contribute to inflation in the Euro Area.

3 STEP 5 Despite the fact that the title of my paper is "The Effect of Supply Chain Issues on Global Commerce," the primary focus of this paper will be to respond to the following question: What effects have supply chain problems had on international trade? The article focuses on several topics, including (1) the impact of the COVID-19 pandemic on inflation in the euro area and how it compares to the experiences of other countries, such as the United States during the last two years, (2) labor shortages and how it was directly impacted by supply shocks, and (3) how foreign shocks and global supply chain bottlenecks played a disproportionate role relative to domestic aggregate demand shocks in explaining inflation in the euro area (Giovanna et al., 2022). The article was very important to my research because it provided a different perspective on how Covid-19 not only affected supply and demand on a global scale, but also how it affected other areas such as labor. This article explores how the pandemic cycle has engulfed the global economy since the beginning of the year 2020. During the initial "lockdown phase" of the pandemic, there was a significant drop in economic activity all over the world, as evidenced by the simultaneous collapse of trade and GDP (Giovanna et al., 2022). This is of the utmost significance to my investigation because it demonstrates that even though the pandemic has ended, we are still experiencing its aftereffects. Additionally, this article can assist customers in comprehending what is in fact taking place and possibly aid in preparing us for the future in order to make the outcome not quite as disastrous. I gained a better understanding of the distinct aspects of the Covid-19 shock and how they have impacted both the flow of goods across countries as well as the prices of those goods. While some economists warned of an impending inflation, few anticipated the prolonged and drastic shift in spending from services to goods and the effects of such a shift under an economy where labor shortages in certain sectors led to economy-wide supply constraints that are persistent and how countries balance their trade. Despite the fact that I gained a lot of knowledge, there is still a lot that I need to learn, such as how nations can recover from the shock of the pandemic, how other factors besides the pandemic effect supply chain issues on global commerce, and how we can prevent disruptions from occurring in the first place. I can broaden the scope of my investigation by conducting a search for articles in the UMGC library or by going to the websites of the governments of certain countries to learn more about topics related to supply and demand. One such website is https://www.gao.gov/products/gao-23-105534. Articles such as "Supply Chain Resilience: Agencies Are Taking Steps to Expand Diplomatic Engagement and Coordinate with International Partners:" can be found on this website, which belongs to the United States Government Accountability Office (U.S. GA Office, 2023).

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4 Reference Giovanna, J. D., Kalemli-Ozcan, S., Silva, A., & Yildirim, M. A. (2022, July). Global supply chain pressures, international trade, and inflation. Retrieved March 9, 2023, from https://www.newyorkfed.org/medialibrary/media/research/staff_reports/sr1024.pdf UMGC. (2022). Learn How to Evaluate. Libs 150 evaluate information. Retrieved March 8, 2023, from https://leocontent.umgc.edu/content/umuc/tus/libs/libs150/2228/libs-150- evaluate-information.html Office, U. S. G. A. (2023, February 2). Supply Chain Resilience: Agencies are taking steps to expand diplomatic engagement and coordinate with international partners. U.S. Government Accountability Office. Retrieved March 10, 2023, from https://www.gao.gov/products/gao-23-105534 You are finished! Thank you!!

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