Brancaccio, Giulia; Kalouptsidi, Myrto; Papageorgiou, … - 2025
transportation sector. Focusing on maritime shipping, we argue that the frequent macroeconomic shocks that shape demand for … transportation, meet a highly inelastic supply curve for transportation services. The steepness is driven by equilibrium bottlenecks … in ships (transportation agents) and ports (transportation infrastructure). This leads to highly volatile shipping prices …