Does U.S. military aid make the United States safer? To answer this question, we collect data for 173 countries between 1968 and 2014. Exploiting quasi-random variation in the global patterns of U.S. military aid, we provide causal estimates of U.S. military aid on anti-American terrorism. We...

This chapter looks at US household sector micro data since 1989, to explore the relation between income inequality and financial fragility from a macro perspective. In contrast with a portfolio (and wealth inequality) approach to household financial instability, which focuses on the investments...