Depending on how it is measured, China’s economy is now the world’s largest or second largest. It is also the world’s second-most intertwined in terms of trade relationships, after the European Union, and is a major investor and lender in the emerging world. Understanding where China is heading is important for the whole world. This […]
Implementation of the “Liberation Day” tariffs on the US’ trading partners would have far-reaching consequences for international trade patterns and the US and global economies. This column models the effects of an unanticipated permanent unilateral tariff imposed by the US and an assumed equal reaction on the part of the rest of the world. The […]
How do monetary policy shocks affect workers’ wages and employment? This column looks at the role that firms play in determining the wage and employment responses to such shocks. The authors show that, when it comes to employment, young firms are especially sensitive to monetary policy shocks, and that the wages of workers at large […]
