In January 2003, the Federal Reserve introduced primary credit as its main discount window lending program. The primary credit program replaced the adjustment credit program, which, subject to a number of restrictions, had generated a stigma accociated with borrowing from the Fed. Eliminating or...

2002 Pew Global Attitudes survey shows that workers’ support for free trade decreases with age, which is a phenomenon previously unexplored by economists. We explore distributional effects of trade liberalization in particular age and gains from free trade, using a dynamic structural general...

This paper introduces a computationally efficient method for estimating structural parameters of dynamic discrete choice models with large choice sets. The method is based on Poisson pseudo maximum likelihood (PPML) regression, which is widely used in the international trade and migration...

This paper uses the gravity model to analyze whether the varying export performance of Croatian counties can be explained by their proximity to border gates, ports, and other county-specific characteristics. The analysis finds that longer distances to border gates increase trade frictions...

This paper studies a simple, tractable model of labor adjustment in a trade model that allows researchers to analyze the economy' dynamic response to trade liberalization. Since it is a neoclassical market-clearing model, duality techniques can be employed to study the equilibrium and, despite...

South Asia has grown rapidly with significant reductions in poverty, but it has not been able to match the fast-growing working age population, leading to lingering concerns about jobless growth and poor job quality.Could export growth in South Asia result in better labor market outcomes? The...

Following a couple of decades of offshoring, the fear today is of reshoring. Using administrative data on Mexican exports by municipality, sector and destination from 2004 to 2014, this paper investigates how local labor markets in Mexico that are more exposed to automation in the U.S. through...

The paths of many migrants include multiple destinations and transit routes, yet this pattern is almost never reflected in empirical analyses. For example, 9 percent of recent immigrants to the United States arrived from a transit country as opposed to the country where they were born. Among...