Ryan Monarch

Associate Professor, Economics Department

Director, Trade, Development, and Political Economy Working Group

Courses

2025 Spring
- ECN 367 Economics of Globalization
- IRP 499 Honors Capstone Project
- ECN 465 International Trade Theory and Policy
2024 Fall
- ECN 765 Advanced International Trade
- ECN 465 International Trade Theory and Policy
2024 Spring
- ECN 367 Economics of Globalization
- ECN 465 International Trade Theory and Policy
2023 Fall
- ECN 765 Advanced International Trade
- ECN 465 International Trade Theory and Policy
2023 Spring
- ECN 865 Topics International Economics

Highest degree earned

Ph.D., University of Michigan, 2014

Bio

Ryan Monarch researches buyer-supplier relationships in international trade and how the recent tariff war affected U.S. exports and supply chains. He served as a principal economist for the International Finance Division of the Board of Governors of the Federal Reserve from 2014-2021.

His work has been published in the Review of Economics and Statistics, the Journal of International Economics and other publications. His research has been cited by The Wall Street Journal, The New York Times, Bloomberg, The Economist and Reuters, among others. He received a Ph.D. in economics from the University of Michigan in 2014.

Areas of Expertise

International trade, supply chains, U.S.-China trade

Research Interests

Import prices for different consumer groups, the effects of tariffs on supply chains

Research Grant Awards and Projects

"Trade Shocks and U.S. Firms' Global Supply Chains", Sponsored by National Bureau of Economic Research.

Selected Publications

Journal Articles
- Handley, K., Kamal, F. and Monarch, R., "Supply chain adjustments to tariff shocks: Evidence from firm trade linkages in the 2018-2019 U.S. trade war." Economics Letters, 2024.
- Monarch, R., Schmidt-Eisenlohr, T., "Longevity and the value of trade relationships." Journal of International Economics, 2023.
- Hottman, C. J., Monarch, R., "Who's Most Exposed to International Shocks? Estimating Differences in Import Price Sensitivity across U.S. Demographic Groups." International Finance Discussion Papers, 2023.
- Monarch, R., "It's Not You, It's Me: Price, Quality, and Switching in U.S.-China Trade Relationships." Review of Economics and Statistics, 2022.
- Lewis, L., Monarch, R., Sposi, M. and Zhang, J., "Structural Change and Global Trade." Journal of the European Economic Association, 2021.
- Hottman, C., Monarch, R., "A matter of taste: Estimating import price inflation across U.S. income groups." Journal of International Economics, 2020.
- Kamal, F., Monarch, R., "Identifying Foreign Suppliers in U.S. Import Data." Review of International Economics, 2018.
Policy Writings
- Lewis, L. T., Monarch, R., Sposi, M., Zhang, J. and Fenske, C. B., "The Increasing Importance of Services Expenditures and the Dampening Effect on Global Trade." In Chicago Fed Letter. , 2021.
- Handley, K., Kamal, F. and Monarch, R., "Beyond Imports: The Supply Chain Effects of Trade Protection on Export Growth." In FEDS Note. , 2020.
- Handley, K., Kamal, F. and Monarch, R., "Beyond Imports: The Supply Chain Effects of Trade Protection on Export Growth." In VoxEU Column. , 2020.
- Hottman, C., Monarch, R., "Distributional Consequences of Trade for U.S. Consumers: Estimating Group-Specific Import Price Inflation." In IFDP Note. Board of Governors of the Federal Reserve System, 2018.
- Lewis, L., Monarch, R., "Causes of the Global Trade Slowdown." In IFDP Note. Board of Governors of the Federal Reserve System, 2016.

Presentations and Events

Society for Economic Dynamics, "Supply Chains and Trade Facilitation" (December 12, 2024 - December 13, 2024)

Dyanmic Trade Workshop, "Discussion of "Supply Chain Uncertainty and Diversification"" (November 22, 2024 - November 23, 2024)

Comparative Analysis of Enterprise Data, Penn State University, "Supply Chains and Trade Facilitation" (May 17, 2024 - May 19, 2024)

Mid-Atlantic International Trade Workshop, "Discussion of "The IT Boom and Other Unintended Consequences of Chasing the American Dream"" (April, 2024)

Inter-American Development Bank, "Supply Chains and Trade Facilitation" (March 14, 2024)

Inter-American Development Bank, "Who's Most Exposed to International Shocks? Estimating Differences in Import Price Sensitivity across U.S. Demographic Groups" (March 11, 2024)

Empirical Investigations in International trade Conference, Syracuse University, "Discussion of "Retailers and Import Penetration: Evidence from US Dollar Stores"" (October 14, 2023)

University of Albany, "Who's Most Exposed to International Shocks? Estimating Differences in Import Price Sensitivity across U.S. Demographic Groups" (March, 2023)

Syracuse University (2021)

Monarch, R., Martin, J., Mejean, I., Parenti, M., "Relationship Stickiness and Economic Uncertainty" (September, 2020)

IMF, George Washington University, University of Virginia, Empirical Trade Online Seminar, CEPR/CEBRA "Adjustments to and in an Uncertain World", University of Maryland (2020)