Experiences in real-world pollution markets suggest that firms make persistent errors in forecasting allowance and credit prices that…
China's lending boom to developing countries is morphing into defaults and debt distress. Given the secrecy surrounding China's loans, the…
This paper employs an updated algorithm and database for classifying exchange rate and anchor currency choice, to explore the evolution of…
COVID-19 deepened and accelerated a troubling trend of economic backsliding that had appeared around half a decade earlier. We call this…
Rising real food prices are an exceptionally regressive shock—both within countries as well as across them.
To understand the possible trajectory of inflation in 2022 and beyond, it is helpful to understand why the United States and Europe had so…
This paper uses historical labor market data to assess the plausibility that the Federal Reserve can engineer a soft landing for the…
n 2020 the EPA narrowed the definition of 'Waters of the United States', significantly limiting wetland protection under the Clean Water…
As the COVID-19 crisis lingers, emerging market and developing economies are entering perilous waters that evoke memories of past debt…
I discuss the multifaceted economic and financial vulnerabilities that have been created or exacerbated by the COVID-19 pandemic on a…