On the Persistence of the China Shock
We evaluate the duration of the China trade shock and its impact on a wide range of outcomes over the period 2000 to 2019.
Research
What the Federal Reserve Should Do Now: An Elaboration
The US economy has not fully recovered, and continued shortfalls in employment and gross domestic product (GDP) warrant continued expansionary monetary policy.
Strengths and weaknesses of the PJM market model
The core of the iconic PJM market design is a bid-based-security-constrained-economic-dispatch-with-locational-marginal-prices (BBSCEDLMP) model that works in theory and in practice.
China's overseas lending
Compared with China's pre-eminent status in world trade, its role in global finance is poorly understood.
Market expectations of a warming climate
We compare prices of financial derivatives whose payouts are based on future weather outcomes to CMIP5 climate model predictions as well as observed weather station data across eight cities in the US
Do Insurers Respond to Active Purchasing? Evidence from the Massachusetts Health Insurance Exchange
As the ACA Marketplaces face challenges with high premiums and limited insurer competition, there is significant interest in how policymakers can stabilize markets and control costs.
Rethinking Exchange Rate Regimes
This paper employs an updated algorithm and database for classifying exchange rate and anchor currency choice, to explore the evolution of the global exchange rate system, including parallel rates, ca
Environmental Drivers of Agricultural Productivity Growth: CO2 Fertilization of US Field Crops
Post-war growth in agricultural productivity outpaced the US non-farm economy, spurred by steadily increasing crop yields.
Decrypting New Age International Capital Flows
This paper employs high frequency transactions data on the world’s oldest and most extensive centralized peer-to-peer Bitcoin market, which enables trade in the currencies of more than 135 countries.
Employee Health Plans Powered by Analytics
Whether they realize it or not, most large firms in America are in the health care business.
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