We use survey data on an opt-in panel of around 2,500 US small businesses to assess the impact of COVID-19. We find a significant negative sales impact that peaked in Quarter 2 of 2020, with an average loss of 29% in sales. The large negative impact masks significant heterogeneity, with over 40%...

"Fed Power reveals how America's central bank undermined democratic accountability and widened economic inequality. It traces the Fed's historic rise to unparalleled power and capacity on domestic policy and its unilateral decisions during the 2008-9 financial crisis to leverage half of the...

Significant theories of democratic accountability hinge on how political campaigns affect Americans' candidate choices. We argue that the best estimate of the effects of campaign contact and advertising on Americans' candidates choices in general elections is zero. First, a systematic...