Economics, Econometrics and Finance
4 years ago

Time-sensitive air shipping equivalent to 2.1% tariff, impacting global trade.

American Economic Review
Time as a Trade Barrier
David Hummels, Georg Schaur

Paper Summary

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World trade increasingly relies on air cargo over ocean shipping due to consumer demand for fast delivery. By analyzing US imports data, it was found that each day in transit is equivalent to a tariff of 0.6 to 2.1 percent. The most time-sensitive trade involves parts and components.