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 ...

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 ...

This essay discusses the reasons for and implications of the decline in real interest rates around the world over the past several decades. It suggests that the decline in interest rates is largely ...

How should governments structure primary sovereign bond markets when investors face asymmetric uncertainty about default risk and total demand? Standard protocols either use uniform prices for all ...

Using newly validated data on geographic migration networks, we study how labor demand shocks in the United States propagate across the border with Mexico. We show that the large exogenous decline in ...

We study the positive (not normative) effect of a permanent import tariff on trade deficits. We consider a two-period trade model with general preferences and technology. We first develop an ...

We study the role played by Chinese state–owned firms during the US–China trade war. Based on measures constructed from Chinese firm–level customs microdata, we show that the presence of state–owned ...

The period after the Global Financial Crisis (GFC) was characterized by a considerable risk migration within global liquidity flows, away from cross-border bank lending towards international bond ...

We model the competition between digital forms of fiat money and private digital money (PDM). Countries strategically digitize their fiat money — upgrading existing or launching new payment systems ...

This paper examines partisanship in public perceptions of the Federal Reserve. In all years from 2001 through 2023, trust in the Federal Reserve was highest for respondents of the same party as the ...