We study how the U.S.-China trade war has reshaped global trade patterns, creating significant spillovers to third countries. Using recent tariff policy changes and monthly international trade flow ...

Do stimulus checks—one-off, deficit-financed lump-sum payments to households—boost the economy? We study a natural experiment: payments to U.S. veterans after World War II that mimic stimulus checks ...

Motivated by William Julius Wilson’s account of concentrated disadvantage, we examine a local poverty-trap interpretation of low entrepreneurship in Black neighborhoods. Using registration data from ...

We measure the convenience yield on dollar safe assets over the last 5 years to answer this question. We find that within the set of U.S. dollar assets, safe asset convenience yields are about the ...

We investigate how limiting interest deductibility under the 2017 TCJA shapes corporate innovation. Using alternative identification strategies, we show that, relative to unaffected firms, affected ...

We explore the historical link between populist regimes, fiscal monetization, and inflation, and how these links affect monetary policy in the 21st century. Using data for a large set of advanced ...

We study how firms’ orientation toward employee well-being shapes the health of their workers. Because this orientation is not directly observable, we measure it from the language Danish firms use in ...

This paper uses the history of private money to assess the conditions under which stablecoins could function safely at scale and what their growth may imply for U.S. monetary power. Historical systems ...

We study the employment effects of California’s $20 fast-food minimum wage. Evaluating this policy poses two challenges in commonly used aggregate datasets: coverage is based on 60-establishment chain ...

We study the aggregate and heterogeneous effects of a front-of-package labeling policy implemented in Chile. We find that consumers reduced their sugar and caloric intake by 9% and 6%, respectively.

There is substantial heterogeneity in economic, educational, and health outcomes among American Indians, shaped by factors such as geographic location (urban vs. rural), resource endowments, and ...

We study the first statewide SNAP restrictions on sweetened beverages and candy. Restricted spending falls 11 percent; calories and sugar fall 5–8 percent. Substitution is asymmetric: eligible fruit ...