Stock price data for a set of Chinese firms highlight the effects of information asymmetry created by differences in social trust between local and foreign investors. More »
Using forty years of price data from the raw cane sugar market in New York City, trade economist Douglas Irwin finds that market demand responds asymmetrically to tariff increases versus tariff reductions. More »
New research finds that misinformation plays a significant role in the brand choices of consumers for most healthcare items and pantry staples, concluding that marketing and advertising campaigns have a negative impact on consumer welfare. More »
An experiment in rural Morocco finds that economic gains from access to microfinance are highly variable, and there are no significant indirect impacts on the status of women and children. More »
Federal Reserve announcements about “tapering,” or reducing the level of quantitative easing, had significant negative impacts on financial asset prices in otherwise robust emerging market economies. More »
Foreign companies that cross-list on US stock exchanges can make substantial financial gains from adopting US corporate governance practices yet firms overwhelmingly choose to opt out, suggesting substantial private opportunity costs from stricter regulations. More »
New research finds that potential welfare gains from trade liberalization are likely highly underestimated because international trade statistics fail to capture the true economic impact of tradable services. More »
Gasoline and diesel subsidies have been criticized for encouraging excess consumption, but the total global economic cost is truly staggering, representing an annual welfare loss worth four percent of the total market for fuel. More »
Despite enormous efforts to minimize financial burdens through innovative international tax planning, multinational corporations still face Effective Tax Rates largely determined by the nationality of their headquarters. More »