In early April, following his Senate confirmation, Jay Bhattacharya, a Professor of Medicine at the Stanford Medical School, ...

Any fiscal path is sustainable if future fiscal policy responds sufficiently to high deficits. Previous work found that Congress reduced the deficit during 1984-2003 when projected deficits rose. We ...

This chapter analyzes the distinct adjustment paths of U.S. labor markets (places) and U.S. workers (people) to increased Chinese import competition during the 2000s. Using comprehensive register data ...

The decision by developing countries to open up their economies to foreign trade and investment in the 1980s and 1990s was a momentous event in world history. How and why did this trade policy ...

This paper embeds a circular Hotelling model of spatial competition into a new-Keynesian model with staggered price setting. The resulting framework provides microfoundations for a cost-push shock, ...

This chapter examines the role of spatial sorting in shaping economic inequality in the United States. We first document the evolution of firm and worker sorting by skill level between 1980 and 2017.

This handbook chapter presents the major advances made in the field of economic geography over the past decade. It starts by documenting a number of motivating empirical facts. It then shows how a ...

We propose a spatial equilibrium model with heterogeneous households holding general non-homothetic preferences over tradable goods and housing. In equilibrium, desirable and productive locations ...

We combine theory with data from different domains to provide an empirical analysis of the scale and variability of social capital as wealth. This is used to argue, given what we have learned in the ...

This paper considers growth and fluctuations in a standard Overlapping Generations (OLG) model with rational expectations, with land (a non-produced asset), credit frictions, and endogenous growth.

A dozen countries had weak institutions in 1960 and yet sustained high rates of growth subsequently. We use data on their characteristics early in the growth process to create benchmarks with which to ...

We study the impact of the Covid-19 pandemic on Euro Area inflation and how it compares to the experiences of other countries, such as the United States, over the two-year period 2020-21. Our ...