Compared with China's pre-eminent status in world trade, its role in global finance is poorly understood. This paper studies the size,…
This paper employs high frequency transactions data on the world’s oldest and most extensive centralized peer-to-peer Bitcoin market, which…
This paper employs an updated algorithm and database for classifying exchange rate and anchor currency choice, to explore the evolution of…
We study how search and information frictions shape market dynamics in global e-commerce. Observational data and self-collected quality…
Debt in emerging market and developing economies (EMDEs) is at its highest level in half a century. In about nine out of 10 EMDEs, debt is…
Prepared Testimony on “Economic Disparities and the Economic Challenges Facing American Familiesâ€
The American economy had pervasive disparities before the pandemic. The pandemic exacerbated many of those disparities in market outcomes…
US media often report that a particular policy is generally considered bad or unpopular, when in reality it seeks to achieve a reasonable…
We examine how much of the overall decline in employment between the beginning of 2020 and 2021 can be explained by excess job loss among…
Data are critical to fighting COVID-19, but cross-country comparisons have consistently focused too much on the wrong sort. This has given…
Today, freely floating exchange rates suit most large countries better than the late economists Richard Cooper, Robert Mundell, and John…