Trade Invoicing, Bank Funding, and Central Bank Reserve Holdings. Gita Gopinath, Jeremy Stein, May 2018, Paper, "We develop a model…
Identification and Estimation of Dynamic Causal Effects in Macroeconomics Using External Instruments
External sources of as-if randomness — that is, external instruments — can be used to identify the dynamic causal effects of macroeconomic…
This paper studies a model of intermediated exchange with liquidity-constrained traders. Intermediaries are embedded in a trading network…
Financing the Response to Climate Change: The Pricing and Ownership of U.S. Green Bonds. Malcolm Baker, George Serafeim, April 27,…
International Climate Change Policy. Robert Stavins, April 25, 2018, Paper, "International cooperation to address the threat of climate…
Learning from Nationally Determined Contributions. Joseph Aldy, April 2018, Paper, "National governments have submitted emissions…
After years of high commodity prices, a new era of lower ones, especially for oil, seems likely to persist. This will be challenging for…
Issuer Default Risk and Rating Agency Conflicts. Anywhere Sikochi, April 2018, Paper, "This study examines whether rating agencies assign…
April 20, 2018, Opinion: "Amazon should not be punished by the Trump administration for being an effective retailer, former Obama…