More than seventy percent of China's outward direct investment (ODI), according to the Ministry of Commerce statistics, is invested in Hong Kong, the British Virgin Islands, and the Cayman Islands. Using a unique micro-level dataset collected by the Heritage Foundation that documents individual...

We provide evidence that deterioration of relations between the United States and another country, measured by divergence in their UN General Assembly voting patterns, reduces US imports from that country during the second wave of globalization. Though statistically significant, such an effect...

We look into the reasons for the significant deceleration of college wage premium growth since 2000 with a planner decision model in which the supply of college workers is endogenously determined. By counterfactual simulations, we find that: (1) the slower skill-biased technological change and...