The article is essentially a book-review of Professor Vijay Joshi's recent work, '"India's Long Road: The Search for Prosperity". In this critical essay, I take a slightly revisionist approach when it comes to a 'typical'book review. For example, the length of this article goes well-beyond the...

This paper examines whether machine learning (ML) algorithms can outperform a linear model in predicting monthly growth in Canada of both house prices and existing home sales. The aim is to apply two widely used ML techniques (support vector regression and multilayer perceptron) in economic...

Among leftists, predicting the end of capitalism is a favorite parlor game. For example, as a graduate student in the 2010s, I remember discovering the 1976 edition of Marx’s Capital and being struck by the introduction. Written by the Belgian Marxist Ernest Mandel, the foreword concluded that...

This paper analyses the impact of two new international tax provisions, GILTI and FDII, passed under the Tax Cuts and Jobs Act, on U.S. multinational corporations' location of new capital. We analyze whether these rules help retain internationally mobile rents within the U.S. tax base and the...

Michael Strain and Stan Veuger find that the economic effects of globalization do indeed change the attitudes of whites toward immigrants, minorities, religion, and guns. More specifically, they find evidence of significant hardening of existing attitudes – that is, the impact of these import...

We use credit reports, survey data, and two natural experiments that increase health insurance coverage—Medicare eligibility and the Affordable Care Act's Under 26 provision—to study the financial protection provided by health insurance.

This study reports estimates from a model of the economic effects of 4G mobile wireless technology adoption in the United States on employment and economic growth and, based on those results, projects the benefits of 5G adoption under different counterfactual scenarios.

Banking system stress tests are a key component of IMF/World Bank financial stability assessments.

In this note, we gauge the likely impact of the Delta variant on global GDP growth in the second half of this year. To do so, we use the methodology described in Kamin and Kearns (2021), "Pandemic Prospects and the Global Economic Recovery," to compare projections for global GDP based on the...

This paper provides a comprehensive account of the evolution of default risk for newly originated home purchase loans since 1990. We bring together several data sources to produce this history, including loan-level data for the entire GSE book. We use these data to track a large number of loan...