| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w29330 |
| 来源ID | Working Paper 29330 |
| Supply Chain Resilience: Should Policy Promote Diversification or Reshoring? | |
| Gene M. Grossman; Elhanan Helpman; Hugo Lhuillier | |
| 发表日期 | 2021-10-04 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | Supply chain disruptions, which have become commonplace, are often associated with globalization and trade. Little is known about optimal policy in the face of insecure supply chains. Should governments promote resilience by subsidizing backup sources of input supply? Should they encourage firms to source from closer and presumably safer domestic suppliers? We address these questions in a very simple model of production with a single critical input and with exogenous risks of relationship-specific and country-wide supply disturbances. We follow Matsuyama and Ushchev (2020) in positing a class of preferences that are homothetic with a single aggregator and that obey Marshall's Second Law of Demand. The familiar case of CES preferences is a member of the class, but it imposes restrictions that are important for policy conclusions.We find that, in the CES case, a subsidy for diversification achieves the constrained social optimum and dominates a policy that promotes reshoring or offshoring. When the demand elasticity rises with price, two policy instruments generally are needed to achieve efficient supply chains, private investments in resilience may be socially excessive, and policy that alter incentives to invest at home versus abroad may achieve greater welfare than ones that encourage or discourage diversification. |
| 主题 | International Economics ; Trade |
| URL | https://www.nber.org/papers/w29330 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/587004 |
| 推荐引用方式 GB/T 7714 | Gene M. Grossman,Elhanan Helpman,Hugo Lhuillier. Supply Chain Resilience: Should Policy Promote Diversification or Reshoring?. 2021. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w29330.pdf（658KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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