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This paper develops a model of intermediated exchange with budget-constrained traders who are embedded in a trading network. An…
We study the impact of international long-distance flights on the global spatial allocation of economic activity. To identify causal…
The mood of much of the world is grim these days. Turmoil in the Middle East, causing hundreds of thousands of deaths and millions of…
A sketch of the International Monetary Fund’s 70-year history reveals an institution that has reinvented itself over time along multiple…
Now that the long-awaited text of the Trans-Pacific Partnership agreement has been released, Congress will have to decide whether to ratify…
Two centuries of Greek debt crises highlight the pitfalls of relying on external financing. Since its independence in 1829, the Greek…
greement among negotiators from 12 Pacific rim countries on the Trans-Pacific Partnership (TPP) represents a triumph over long odds.…
It is understood that investment serves as a shock absorber in times of crisis. The duration of the drag on investment, however, is…