Exploiting a new global macro-historical database of effective tax rates, we uncover an intriguing pro-tax-capacity effect of international…
Decades of low inflation led to widespread use of dollar-denominated financial instruments with fixed interest rates and long maturities.…
Written for a PIIE conference on the 50th anniversary of floating exchange rates, this paper deals with possible alternatives to a unipolar…
We estimate the equilibrium effects of a public school grant program administered through school councils in Pakistani villages with…
Concerns about fraud in welfare programs are common arguments worldwide against such programs. We conducted a survey experiment with over…
The Infrastructure Investment and Jobs Act, the CHIPS and Science Act, and the Inflation Reduction Act authorized and appropriated…
Policymakers and budgetary analysts have long argued that roads are heavily subsidized. The diffusion of spending among federal, state, and…
Many projections for health care spending growth do not incorporate the impact of changing labor market regulations. In this paper, I show…
We study the problem of allocating multiple items to two agents whose cardinal preferences are private information. If money is available,…
This paper studies external sovereign bonds as an asset class. We compile a new database of 220,000 monthly prices of foreign-currency…