The analysis of US foreign energy policy should be in the context of a 'grand strategy' choice between 'global hegemonism' and 'cooperative realism'. The latter is more viable in addressing a series of global systemic crises. The first of these crises is in the global security system itself as...

In this paper, I introduce lumpy micro-level capital adjustment into a sticky information general equilibrium model. Lumpy adjustment arises because of inattentiveness in capital investment decisions instead of the more common assumption of non-convex adjustment costs. The model features...

We analyze the role of optimal income taxation across different local labor markets. Should labor in large cities be taxed differently than in small cities? We find that a planner who needs to raise revenue and is constrained by free mobility of labor across cities does not choose equal taxes...