We use Nielsen Homescan data to examine whether the incidence of cigarette taxes on menthol products varies with race. We find that taxes are shifted at significantly lower rates to Black smokers of menthol cigarettes than any other smokers. A potential explanation is that Black menthol smokers...

Commodity terms of trade (CTOT) volatility is positively associated with sovereign credit spreads, leading to a higher cost of capital for producers in commodity-dependent countries. In this paper, we examine how volatile CTOT influences industries’ growth performance based on sector-level...

Using static panel regression and dynamic local projection methods, we find that financial integration magnifies the transmission of global financial shocks to emerging market economies with fixed exchange rates, validating the insulation benefits of floating regimes and market segmentation

We study the link between price points and price rigidity, using two datasets: weekly scanner data, and Internet data. We find that: “9” is the most frequent ending for the penny, dime, dollar and ten-dollar digits; the most common price changes are those that keep the price endings at...

We study the link between price points and price rigidity, using two datasets containing over 100 million observations. We find that (i) 9 is the most frequently used price-ending for the penny, dime, dollar and ten-dollar digits, (ii) 9-ending prices are between 24%-73% less likely to change in...