Los efectos agregados y sectoriales de la inversión pública dependen fundamentalmente de la interacción entre la elasticidad de la producción con respecto al capital público y los vínculos de la cadena de suministro. Enseñamos este hecho a través de una red de producción neokeynesiana....

Tighter money-laundering regulations in offshore financial havens may inadvertently spur incentives to launder money domestically. Our study exploits regulations targeting financially based money laundering in Caribbean jurisdictions to uncover the creation of front companies in the United...

Proceeds from illicit activities percolate into the legal economy through several channels. We exploit international regulations targeting money laundering via the financial sector to identify the flows of “dirty money” into legitimate establishments: business-based money laundering...

Firms file for reorganization bankruptcy (Chapter 11) to restructure, not only debt, but also, labor contracts. In this environment, pro-creditor bankruptcy reforms face a trade-off: they increase recovery values of successful reorganizations but suffocate managers' incentives to restructure...

Proceeds from illicit activities percolate into the legal economy through several channels. We exploit international regulations targeting money laundering via the financial sector to identify the flows of “dirty money” into legitimate establishments: business-based money laundering (BBML)....

Beliefs about the arrival time of a vaccine have a large effect on optimal social distancing in an SIR model, though the relationship is complex. A higher mean vaccine arrival time can increase or decrease optimal distancing depending on assumptions. We analytically demonstrate two channels that...

We show how to use field-programmable gate arrays (FPGAs) and their associated high-level synthesis (HLS) compilers to solve heterogeneous agent models with incomplete markets and aggregate uncertainty (Krusell and Smith, 1998). We document that the acceleration delivered by one single FPGA is...