The dynamic causal effect of an intervention on an outcome is of paramount interest to
applied macro-and microeconomics research. However, this question has been generally …

We estimate the slope of the Phillips curve in the cross section of US states using newly
constructed state-level price indices for nontradeable goods back to 1978. Our estimates …

This paper studies the economic impacts of carbon pricing. Exploiting institutional features of
the European carbon market and high-frequency data, I document that a tighter carbon …

We conduct a simulation study of Local Projection (LP) and Vector Autoregression (VAR)
estimators of structural impulse responses across thousands of data generating processes …

We study the relationship between credit expansions, macroeconomic fluctuations, and
financial crises using a novel database on the sectoral distribution of private credit for 117 …

The US dollar's nominal effective exchange rate closely tracks global financial conditions,
which themselves show a cyclical pattern. Over that cycle, world asset prices, leverage, and …

Using the heteroscedasticity-based estimator of Rigobon and Sack (2005) to identify daily
shocks of the Russia–Ukraine war, I assess and quantify the dynamic impact of the conflict …

We study how monetary policy affects subcomponents of the Personal Consumption
Expenditures Price Index (PCEPI) using local projections. Following a monetary policy …

This paper investigates the impact of carbon pricing on the economy, with a focus on
European carbon taxes and the carbon market. Our analysis reveals three key findings. First …

Local projections (LPs) are a popular tool in macroeconomic research. We show that LPs
are often used with very small samples in the time dimension and, consequently, that LP …