We study how estimators used to impute consumption in survey data are inconsistent due to measurement error in consumption. Previous research suggests instrumenting consumption to overcome this problem. We show that, if additional regressors are present, then instrumenting consumption may still...

Using a novel sample of foreign securities available for trade in 42 countries during the last four decades (1979-2018), we characterize the rise in importance of foreign stocks for investors in their host countries and its implications for diversification benefits across industries and...

Using an empirical gravity model, I estimate the contribution of changes in relative labor supply to bilateral migration in the 2000s and apply the resulting estimates to project future bilateral flows based on population forecasts by the United Nations. I extend the work of Hanson and McIntosh...

This paper uses a gravity model approach to estimate the effects of Brexit in two dimensions: trade in goods and migration. We simulate two scenarios: 1) no agreement with reversión to WTO rules and no special treatment for migrants; 2) signature of a bilateral free trade agreement (FTA)....

This article presents bilateral international migration projections to 2050 based on a new methodology that takes into account the population growth both in countries of origin and countries of destination. To do this, the methodology used by Hanson and McIntosh (2016) to project the future...

We estimate the impact of MERCOSUR on trade flows and on gains from trade for its member countries using a standard modern general equilibrium quantitative structural gravity model. We find a highly heterogeneous impact on bilateral trade flows and gains from trade. We estimate that gains from...