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Economics Alum, Now on the Tenure Track at Barnard, Discusses His Research on the Costs and Benefits of Policing

Economics Alum, Now on the Tenure Track at Barnard, Discusses His Research on the Costs and Benefits of Policing
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The aftermath of sovereign debt crises | VOX, CEPR Policy Portal

Rui Esteves, Seán Kenny, Jason Lennard 20 July 2021 There is little consensus on the macroeconomic impacts of sovereign debt crises, despite the regularity of such events. This column quantifies the aggregate costs of defaults using a narrative approach on a large panel of 50 sovereigns between 1870 and 2010. It estimates significant and persistent negative effects of debt crises starting at 1.6% of GDP and peaking at 3.3%, before reverting to trend five years later. In addition, underlying causes matter. Defaults driven by aggregate demand shocks result in short-term contractions, whereas aggregate supply shocks lead to larger, more persistent losses.  Nicola Gennaioli, Alberto Martin, Stefano Rossi

The effects of the US-China trade war on firms vacancy postings

Yi Huang, Chen Lin, Sibo Liu, Heiwai Tang The US-China trade war saw an unprecedented episode of reciprocal tariff increases between the world’s two largest economies. Following a series of multilateral tariffs in early 2018, the Trump administration increased tariffs on imports from China in several stages and almost every product category. Average rates rose from the MFN average of roughly 4% to about 23% by mid-2019. China retaliated promptly so that bilateral trade collapsed by 15-30% on both sides (see Figure 1). Figure 1 Tariffs and bilateral volumes of US and Chinese exports during the trade war    Source: He et al. (2021). Notes: Panels (a) and (b) indicate average tariff rates the two countries applied on imports from the respective other country and how they contrast with most-favoured nation (MFN) rates applied under WTO law in “normal times”. Panels (c) and (d) suggest a decrease in bilateral trade by 15-30 percent when comparing actual with fitted lines dur

Marriage market sorting, labour market sorting, and inequality

Sandra Black, Alexandra Spitz-Oener Progress in closing gender gaps has been made, but women around the world still earn less than men in the labour market (Ciminelli and Schwellnus 2021, Sánchez-Mangas and Sanchez-Marcos 2020, Bøler et al. 2015). At the same time, income inequality across households has increased in recent decades (Greenwood et al. 2014 and 2016).  A growing literature studies the link between labour market choices and gender earnings gaps, particularly the effects of lower labour force participation and fewer hours worked by women (Adda et al. 2017, Goldin 2014, Cortés and Pan 2019). Furthermore, positive sorting in the labour market – the fact that more skilled workers are employed in more demanding jobs and work for more productive firms – has been shown to fuel wage inequality (Lindenlaub 2017). Other areas of research have shown that positive sorting in the marriage market – the fact that similarly educated individuals tend to marry each other –

Book Review: Brian Domitrovic Reveals The Monetary Genius Of Arthur Laffer

Book Review: Brian Domitrovic Reveals The Monetary Genius Of Arthur Laffer
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