Your Data (new gold, new oil) is hugely valuable (est. $13T globally) but not a 'balance-sheet' asset. Tokenization- used by banks for payments and settlement- lets you manage, value, and monetize your data. Data is the ultimate commodity industry. This position paper outlines our vision and a...

Using the model proposed in Krugman and Taylor's "Contractionary effects of devaluation" (1978), we examine what macroeconomic effects of shocks to foreign prices. We show that these shocks can be contractionary for two reasons: (i) because they imply a loss of income if an economy has a trade...

Inflation affects the purchasing power of households. This paper documents large, idiosyncratic inflation differences between households in their everyday shopping. Low-income households have experienced higher inflation in the last ten years, but the difference for richer households has been...

Using the 2021 and 2022 HFPS for Ecuador, the paper investigates the labor market trajectories of different socio-economic groups. The analysis shows that the employment of older individuals, less-educated workers, and women fell disproportionately. However, while the recovery between 2021 and...

Under three different rules for allocation of initial income we elicit experimental subjects' preferences for income redistribution using an incentive compatible elicitation mechanism. The three income allocation rules are designed to capture preferences for distributive justice among subjects....

This paper explores the economic and political dimensions of responding to water scarcity by increasing supply rather than reducing demand with examples from San Diego (US), Almeria (ES) and Riyadh (SA). Each case explains how leaders benefit by obscuring the costs of desalinated supplies. In...

The 1992-93 recession in the western states of Germany has been attributed, in substantial measure, to the macroeconomic consequences of policies to finance unification. Studies of the costs of unification have not attempted to measure the burden of the recession. We estimate a dynamic, panel...

I argue that whether or not a state is "predatory" hinges on the relationship between development and the distribution of political power in society. Development is typically inconsistent with the preservation of the political status quo and this gives those who initially hold political power an...

In this paper, we describe mating patterns in the United States from 1964 to 2017 and measure the impact of changes in marital preferences on between-household income inequality. We rely on the recent literature on the econometrics of matching models to estimate complementarity parameters of the...

The consistent underestimation of inequality of opportunity has led some scholars to call into question the usefulness of such estimates. In this paper we argue that neglecting heterogeneity in the influence of circumstances across types as well as neglecting heterogeneity in type-specific...