A range of tariffs on U.S. imports has been enacted or considered recently. Trade tariffs can potentially affect price ...

Using a two-country monetary union framework with financial frictions, we quantify the efficacy of targeted asset purchases, ...

The fraction of men working in the United States has declined consistently since the 1950s. This has contributed to slower labor force growth and resulted in considerable gaps between labor force ...

Profiles: Google Scholar | RePEc Working Papers Inference for Local Projections 2024-29 | with Inoue and Kuersteiner | August 2024 abstract Inference for impulse responses estimated with local ...

We document that the Fed’s perceived monetary policy response to inflation shifted materially over the post-pandemic period. In forward-looking policy rules estimated from surveys of macroeconomic ...

Presentation to the 18th Annual Hyman P. Minsky Conference on the State of the U.S. and World Economies—“Meeting the Challenges of the Financial Crisis” Organized by the Levy Economics Institute of ...

Profiles: Google Scholar | RePEc Working Papers Explaining Stagnation in the College Wage Premium 2025-01 | with Bengali and Zhao | January 2025 abstract After growing substantially during the 1980s ...

Internal migration has been cited as a key channel by which societies will adapt to climate change. We show in this paper that this process has already been happening in the United States. Over the ...

The personal consumption expenditure price index (PCEPI) is one measure of U.S. inflation, tracking the change in prices of goods and services purchased by consumers throughout the economy. Of all the ...

In the past two decades, a number of banks joined global initiatives aimed to mitigate climate change by “greening” their asset portfolios. We study whether banks that made such commitments have a ...

We study how changes in the composition of Chinese local government debt influenced bank risk taking, credit allocation, and local productivity. Using confidential loan-level data and a ...

This paper reviews how productivity has evolved around the world since the pandemic began in 2020. Productivity in many countries has been volatile. We conclude that the broad contours of productivity ...