In this paper, we present theory and global evidence on how mobile internet access affects desire and plans to emigrate. Our theory predicts that mobile internet access increases desire and plans to emigrate. Our empirical analysis combines survey data on 617,402 individuals from 2,120...

We exploit the non-linearity in the level of minimum wages across US States created by the coexistence of federal and state regulations to investigate how minimum wages affect the labor market impact of immigration. We find that the effects of immigration on labor market outcomes of native...

During 2022, about eight million Ukrainians were displaced from Ukraine due to the Russian invasion. Whether these individuals will return holds great significance for Ukraine's reconstruction and is pivotal in shaping integration strategies in host countries. We used Facebook ads to recruit a...

We explore the impact of mortgage securitization on the international diversification of macroeconomic risk. By making mortgage-related risks internationally tradeable, securitization contributes considerably to better international consumption risk sharing: we find that countries with the most...

Consumption risk sharing among U.S. federal states increases in booms and decreases in recessions. We find that small firms' access to credit markets plays an important role in explaining this stylized fact: business cycle fluctuations in aggregate risk sharing are more pronounced in states in...

We sort currencies by countries' consumption growth over the past four quarters. Currency portfolios of countries experiencing consumption booms have higher Sharpe ratios than those of countries going through a consumption-based recession. A carry strategy that goes short in countries that are...

We investigate empirically how industrialized countries and U.S. states share consumption risk at horizons between one and thirty years. U.S. federal states share about 50 percent of their permanent idiosyncratic risk through cross-state capital income flows. While insurance against transitory...

This paper studies the long-run relationship between consumption, asset wealth and income in Germany, based on data from 1980 to 2003. While earlier studies mostly for the Anglo- Saxon economies have generally documented that departures of these three variables from their common trend signal...

Alongside a range of already well documented factors such as deindustrialization, technological progress and international trade, a series of recent empirical econometric studies show that immigration has contributed to the rise of extreme right-wing parties in Europe. Our study highlights,...

Immigration has become one of the most divisive political issues in the United States, the United Kingdom, France and several other Western countries. We estimate the impact of immigration on voting for far-left and far-right candidates in France, using panel data on presidential elections from...