Foreign investors have tilted their portfolios toward dollar-denominated assets over the last two decades. The researchers document a sixfold increase in nominal foreign holdings of USD-denominated ...

The Tax Cuts and Jobs Act (TCJA) of 2017 was the most significant reform to corporate taxation in the US in nearly four decades. It reduced the top corporate income tax rate from 35 to 21 percent, ...

In this paper, we estimate the effect of increasing the share of foreign-born Master graduates on the creation of innovative start-ups in the US. We combine information on international students ...

The Great Depression is the canonical case of a widespread currency war, with more than 70 countries devaluing their currencies relative to gold between 1929 and 1936. What were the currency war’s ...

To what extent, if at all, did employee-owned (EO) firms maintain jobs for workers compared to non-EO firms in the spring 2020 Covid-19 shock to the US economy? Did EO firms shift jobs from workplaces ...

Other countries can implement economic security policies to shape their economies in order to insulate themselves from undue foreign pressure. Countries considering these policies face a tradeoff ...

Using geolocation data from millions of smartphones, we estimate consumer preferences for specific retail chains across income groups and regions. We show that accounting for distance endogeneity ...

While investments in schooling generate large private and external returns, negative peer interactions in school may generate substantial social costs. Using data from four national sources (Uniform ...

We examine the potential role of international agreements on product standards through a stylized model where countries have different regulatory preferences and firms incur fixed costs of regulatory ...

Remote work policies remain controversial because of the perceived opportunity for increased shirking outside of the traditional office; a problem that is potentially exacerbated if employees work in ...

Contrary to existing models, sticky deposits and low deposit rate betas do not imply negative duration. While operating costs could generate negative duration, they are offset by fixed interest rate ...

We use a survey of nearly 360,000 workers conducted from May 2020 through December 2023 to characterize shifts in remote work across time, industry, occupation, and geography, and examine the evolving ...