This paper documents stylized facts about the "Great Reallocation" in US supply chain trade following the 2018–2019 tariff shocks and the April 2025 Liberation Day announcements. We find that: (i) The ...
What are the effects of tariff changes and trade conflicts on the natural rate of interest? This article investigates this question, using a multicountry, heterogeneous-agent trade model in which the ...
The variety of financial products available for firms to raise funds has expanded rapidly in recent decades. This paper studies the role of innovations that introduce specialized financial products ...
We match patents to products using natural language methods applied to detailed product descriptions and patent texts in the consumer goods sector. While more than half of product innovations ...
Survey mode is a critical consideration in well-being research using the 22 country Global Flourishing Study (GFS). We find marked differences in responses to well-being questions if they are obtained ...
Understanding how to effectively influence electric vehicle (EV) charging behavior is critical for managing electricity grids powered by high levels of variable renewable generation. We present ...
How does academic research inform presidential economic policy? This paper investigates the sources of evidence in the Economic Report of the President from 2010 to 2025. We construct a novel dataset ...
We document that rising volatility in U.S. interest rates, a key dimension of global financial risk, notably depresses the trend of economic activity in emerging market economies (EMEs) but not in ...
Using nationally representative household consumption surveys from 23 countries that together account for 50% of the world’s poor, we estimate that reducing the poverty rate to 1% (from a baseline of ...
Financial markets (and more generally the real economy) display a wide range of important nonlinearities. This paper focuses on stock returns, which are skewed left – generating crashes – and whose ...
I examine the potential of pro-development state (capacity) building projects to be coopted for repression. I leverage the natural experiment created by the differential build-up of capacity between ...
The Opportunity Zone program was designed to encourage investment in distressed communities across the United States. Early research found no evidence of impacts of the program on employment, earnings ...
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