Sinem Hacıoğlu Hoke and Leo FelerThis paper estimates the effects of the 2025 U.S. tariffs on household spending using transaction-level data linked to tariff exposure and a tariff sentiment survey. Comparing high versus low tariff-exposed categories, we find 15 to 20 percent price pass-through. At the mean increase in tariff exposure, prices rise by 1 to 2 percent while spending falls by roughly 4 percent.
Maximilian Grimm, Moritz Schularick, and Emil VernerFinancial liberalization is often seen as a way to deepen credit markets and stimulate economic growth, but it may also fuel credit booms that end in crisis. We construct a new cross-country database of banking regulation policies covering 21 regulatory indicators for 18 advanced economies since World War II. We distinguish liberalizations that directly relax constraints on credit supply from broader financial reforms.
The fate of a person's debts after they die depends in part on what they owned. MicroStockHub/iStock via Getty Images Plus
Curious Kids is a series for children of all ages. If you have a question you’d like an expert to answer, send it to CuriousKidsUS@theconversation.com.
The agency has cut more than 13% of its workforce. AP Photo/Nam Y. HuhA rapid series of administrative, staffing and policy changes the Social Security Administration underwent early on in the second Trump administration are making it much harder to get disability benefits that millions of Americans rely on to make ends meet.
Analyzing more than 300,000 articles across 40 top-tier journals between 2000 and 2022, this study demonstrates that China’s 2006 National Medium-and Long-Term Plan for the Development of Science and Technology catalyzed a surge in publication volume and citations, propelling China past the United States as the world’s leading producer of scientific research.
Analyzing more than 300,000 articles across 40 top-tier journals between 2000 and 2022, this study demonstrates that China’s 2006 National Medium-and Long-Term Plan for the Development of Science and Technology catalyzed a surge in publication volume and citations, propelling China past the United States as the world’s leading producer of scientific research.
Edward Herbst, Scott Konzem, and Cristina ScofieldWe comprehensively document 1,265 Federal Reserve staff alternative scenarios presented to the Federal Open Market Committee in publicly released materials from 1968 to 2020. Scenarios grew in frequency and sophistication, typically spanning a range of outcomes around the baseline.
Dong Hwan Oh and Andrew J. PattonWe propose a new measure of mutual fund manager ability: "efficiency" is the ability to accrue the risk premium associated with a risk factor. The familiar abnormal return, or alpha, is shown to be the sum of two distinct measures of ability: "aggregate efficiency" which is the beta-weighted sum of the fund's (in)efficiencies across risk factors, and "skill," the component that is unrelated to factor exposures. Using a panel of U.S.
Krievietka/ShutterstockYou’ve had a spring clean and decluttered your wardrobe, and now you’re wondering what to do with the pile of unwanted clothes in the corner.
Despite the Trump administration's immigration crackdown, U.S.-born workers aren't seeing more jobs or higher wages, including in sectors with a high share of immigrant labor. AP Photo/Richard VogelPresident Donald Trump campaigned on a promise to strengthen the labor market. His immigration platform – including a pledge to conduct the largest deportation campaign in U.S.
