Abstract The Paycheck Protection Program (PPP), a principal element of the fiscal stimulus
enacted by Congress in response to the COVID-19 economic shock, was intended to assist …

In this article, we document and discuss salient features of collective bargaining systems in
the OECD countries, with the goal of debunking some misconceptions and myths and …

In this paper I discuss the increasingly prominent role of administrative micro data in
macroeconomics research. This type of data proved important for interpreting the causes …

We generalize the traditional, static Keynesian cross by deriving an intertemporal Keynesian
cross for the dynamic output response to government spending and taxes in microfounded …

We study a business cycle model of the international monetary system featuring a time-
varying demand for safe dollar bonds, greater risk-bearing capacity in the United States than …

This paper provides evidence from the US and Denmark that managers with a business
degree (“business managers”) reduce their employees' wages. Within five years of the …

Making inferences about aggregate business cycles from regional variation alone is difficult
because of economic channels and shocks that differ between regional and aggregate …

ABSTRACT I study how online competition, with its algorithmic pricing technologies and the
transparency of the Internet, can change the pricing behavior of large retailers and affect …

This paper documents that the earnings cost of job loss is concentrated among workers who
find reemployment in lower-skill occupations, and that the cost and incidence of such …

We study the transmission of monetary policy through risk premia in a heterogeneous agent
New Keynesian environment. Heterogeneity in households' marginal propensity to take risk …