We study the transmission of global financial uncertainty to an emerging market economy, Turkey, using data on the universe of corporate loan transactions over 2003-2013. International arbitrage implies that a decline in global uncertainty reduces country risk, which narrows the deviation from...

Previous research finds that the greater geographic mobility of foreign than native-born workers following economic shocks helps to facilitate local labor market adjustment to shifting regional economic conditions. We examine the role that immigration may have played in enabling U.S. commuting...