We examine how the political ideology of corporate leaders shapes cross-border firm networks. Exploiting changes in ideological alignment between U.S. firm CEOs and foreign governments around close ...

We introduce aggregate shocks to workers' value of job amenities in a frictional equilibrium model of the labor market with on-the-job search, where the job creation cost is sunk and quits trigger ...

Legal claims are increasingly being considered as an alternative asset class, however, there appears to be a lack of a standard methodology for valuing litigation risk. This paper proposes a dynamic ...

We present evidence on how generative AI changes the work patterns of knowledge workers using data from a 6-month-long, cross-industry, randomized field experiment. Half of the 7,137 workers in the ...

In macroeconomic models with dispersed information, agents have an incentive to learn from endogenous variables, which themselves depend on the forecasts of others. This paper revisits the model of ...

We use a dynamic trade and reallocation model with downward nominal wage rigidities to quantitatively assess the economic consequences of recent U.S. tariff increases on imports from Mexico, Canada, ...

This paper explores the two-way relationship between international migration and political regime change, emphasizing the potential for a feedback loop: political shifts influence migration patterns, ...

We find that the price volatility of renewable assets is significantly greater than that of brown assets. Our causal estimates leverage the response of electricity and credit markets to US state-level ...

Despite growing public funding for religious schools through U.S. school choice programs, little is known about what they teach. We examine textbooks from public schools, religious private schools, ...

This fellowship program supports graduate students in economics and economics-adjacent fields who are carrying out research on discovering and nurturing global math talent, with the broader goal of ...

The Global Macro Database is an open-source, continuously updated dataset of macroeconomic statistics that unifies and extends existing resources. By harmonizing and integrating data from 32 major ...

We develop a novel framework to study the interaction between monetary policy and trade. Our New Keynesian open economy model incorporates international production networks, sectoral heterogeneity in ...