While standard demand factors perform well in predicting historical trade patterns, they fail conspicuously in 2020, when pandemic-specific factors played a key role above and beyond demand. Prediction errors from a multilateral import demand model in 2020 vary systematically with the health...

We use firm-level data from 10 European countries to establish several new stylized facts about firms' labor market power. First, we find the pervasive presence of labor market power across countries and sectors, measured by average and median markdowns above unity. Second, focusing on the...

En España el desempleo ha constituido un problema estructural importante durante los ultimos veinte años. El autor argumenta que la interaccion de los costes de despido y los flujos de empleo a empleo, junto con los cambios en los subsidios por desempleo, podrian proporcionar una explicacion...