Since the depths of the financial crisis in 2008-2009, most financial indicators have stabilized. However, the real parts of the economies…
Capital flows have been the subject of key policy concern since the Brady plan launched
the emerging markets asset class. Their massive…
This paper explores the menu of options for renormalizing public debt levels relative to nominal activity in the long run, should…
What is the socially optimal level of liquidity in a retirement savings system?
Liquid retirement savings are desirable because liquidity…
We compare the liquidity that six developed countries have built into their employer-based defined contribution (DC) retirement schemes. In…
is almost always easier to see more clearly in retrospect. Some develop- ments, viewed from the vantage point of history, look more…
This year, countries will pledge to reduce their greenhouse gas emissions as part of the negotiations leading up to the UN climate change…
/publications/giving-college-credit-where-it-due-advanced-placement-exam-scores-and-college-outcomes
We implement a regression discontinuity design using the continuous raw Advanced Placement (AP) exam scores, which are mapped into the…
Using a field experiment in a 401(k) plan, we measure the effect of disseminating information about peer behavior on savings. Low-saving…
Trade is high on the agenda in the United States, Europe, and much of Asia this year. In the US, where concern has been heightened by weak…