This study examines the inflation-hedging ability of commodity futures. Applying a Markov-switching vector error correction model to a sample of commodity futures that cover the period between January 1983 and December 2017, we find that total commodity futures fail to provide a hedge against...

This study investigates the role of retail pharmacy ownership in the opioid epidemic in the United States by comparing independently owned pharmacies' and chain pharmacies' prescription opioid dispensing practices. Using data of prescription opioid orders at the pharmacy level between 2006 and...

We examine the short-term impact of COVID-19 on consumption spending and labor market outcomes. Using monthly panel data of individuals mainly aged 50–70 in Singapore, we find that COVID-19 reduced consumption spending and labor market outcomes immediately after its outbreak, and its negative...

We examine the short-term impact of COVID-19 on consumption spending and its underlying mechanisms, using individual-level monthly panel data from Singapore. Although Singapore's case-fatality rate is one of the lowest in the world (0.05%), we find that the COVID-19 pandemic reduced the...