This paper develops a model of intermediated exchange with budget-constrained traders who are embedded in a trading network. An…
Relative to the size of the economy, U.S. federal debt is larger now than at any time since the end of World War II. Under current policies…
Though online technology has generated excitement about its potential to increase access to education, most research has focused on…
We study the impact of international long-distance flights on the global spatial allocation of economic activity. To identify causal…
Governments often require that products carry warnings to inform people about risks. The warnings approach, as opposed to the command and…
The Paris Agreement culminates a six-year transition toward an international climate policy architecture based on parties submitting…