The evolution of work is of emerging importance to advanced economies' growth. In this study, we develop a new semantic-distance ...

The traditional historical narrative claims that White women were rarely involved in market transactions for enslaved people in ...

We develop a tractable sticky price model in which the fraction of price changes evolves endogenously over time and, consistent ...

This paper adds life-cycle features to a New Keynesian model and shows how this places financial wealth at the center of consumption/saving decisions, thereby enriching the determinants of aggregate ...

The substantial fluctuations in oil prices in the wake of the COVID-19 pandemic and the Russian invasion of Ukraine have highlighted the importance of tail events in the global market for crude oil ...

Prior to around 2011, there was a pronounced curvilinear relationship between age and wellbeing: poor mental health was hump-shaped with respect to age, whilst subjective well-being was U-shaped. We ...

But large debt reductions are rare. Jamaica stands out for reducing its debt from 144 percent of GDP to 72 percent over the ...

The conventional local projection (LP) confidence interval has correct coverage even when the misspecification is so large that it can be detected with probability approaching 1. This follows from a ...

This paper provides new survey evidence on firms’ inflation expectations in the euro area. Building on the ECB’s Survey on the Access to Finance of Enterprises (SAFE), we introduce consistent ...

Public health interventions often involve a trade-off between improving health and protecting individual rights. We study this trade-off in a high-stakes setting: prostitution regulations aimed at ...

Stock markets play a dual role: help allocate capital by conveying information about firms’ fundamentals and provide liquidity by quickly turning stocks into cash. We propose a trading model in which ...

Transportation infrastructure is vital for the smooth functioning of international trade. Ports are a crucial gateway to this system: with more than 80% of trade carried by ships, they shape trade ...