Import Constraints.

This article examines the impact of import constraints on global supply chains and inflation during the post-pandemic economic recovery. The authors argue that production capacity constraints in the supply chain have influenced US inflation. They specifically focus on import constraints, which limit the quantity of imports at a given time, and suggest that these constraints may be caused by shipping or import logistics capacity. The analysis explores the effects of import constraints on prices and trade costs, and indicates that import constraints may not have played a significant role in explaining inflation based on post-pandemic data. Additionally, the article presents a model that considers monopolistic competition, import constraints, and trade intermediation, and explores how import prices are determined under different scenarios. The conclusion suggests that import constraints alone do not necessarily result in higher import price inflation, and proposes that other factors may be responsible for changes in import prices and quantities. [Extracted from the article]