Global Capital Allocation Map

Redrawing the Map of Global Capital Flows: The Role of Cross-Border Financing and Tax Havens” (with Antonio Coppola, Matteo Maggiori, and Jesse Schreger)
Quarterly Journal of Economics, Accepted.
Appendix: Online Appendix.
Slides: Presentation Slides.
Code, Data, and Replication: The Global Capital Allocation Project.
Coverage: Featured in Bloomberg, The Economist Magazine and The Financial Times (here and here).

Exchange Rate Reconnect” (with Andrew Lilley, Matteo Maggiori, and Jesse Schreger)
Review of Economics and Statistics, Accepted.
Appendix: Online Appendix.
Coverage: Featured in Marginal Revolution.

Figure of share of jobs that can be done at home from How Many Jobs Can be Done at Home? with Jonathan Dingel

How Many Jobs Can be Done at Home? (with Jonathan Dingel)
Journal of Public Economics: 2020, Volume 189.
Preprint: Covid Economics, Vetted and Real-Time Papers, 2020, Issue 1, p.16-24.
Data: Results by City, Industry, and Occupation.
Code: Replication Package.
Coverage: Featured in The Wall Street Journal (here and here), The New York Times (here, here, and here), Financial Times (here and here), The Economist (here, here, and here), Reuters (here and here), BBC, The Hill, and Business Insider. Column in Pro-Market Blog.

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Tariff Passthrough at the Border and at the Store: Evidence from US Trade Policy” (with Alberto Cavallo, Gita Gopinath, and Jenny Tang)
American Economic Review: Insights, Accepted.
Short Version: Paper and Appendix.
Coverage: Featured in The New York Times here and here, The Wall Street Journal here and hereThe Financial TimesThe Washington PostCongressional QuarterlyIMF BlogHBS Working KnowledgeCNN (Jake Tapper’s State of the Union), and Forbes.

Figure of Rising Dollar and Falling Euro Shares of Cross-Border Corporate Bond Positions from International Currencies and Capital Allocation with Matteo Maggiori and Jesse Schreger

International Currencies and Capital Allocation (with Matteo Maggiori and Jesse Schreger)
April 2019
Journal of Political Economy, 2020, Volume 128, Issue 6.
Winner of AQR Insight Award
Short Video Presentation (5 mins): web link.
Appendix: Online Appendix.
Replication: Download Zip File.
Slides: Presentation Slides.
Coverage: Column in VoxEU.org. Featured in The Wall Street JournalForbesNBER DigestPensions&InvestmentsWorld Economic ForumMarketwatch (2018) and Marketwatch (2019), and La Nacion.

Figure of Dollar and Euro Use to Denominate Bank Loans, By Sector from The Rise of the Dollar and Fall of the Euro as International Currencies with Matteo Maggiori and Jesse Schreger

The Rise of the Dollar and Fall of the Euro as International Currencies (with Matteo Maggiori and Jesse Schreger)
AEA Papers and Proceedings, 2019, Volume 109, p.521-526.
Appendix: Online Appendix.
Replication: Replication Package.

Figure of Share of Business Value Added in Accounting for Factorless Income with Loukas Karabarbounis

Accounting for Factorless Income (with Loukas Karabarbounis)
NBER Macroeconomics Annual, 2018, Volume 33, p.167-228.
Video Presentation (20 mins): web link or mp4 file.
Slides: Presentation Slides.
Replication: Download Zip File.
Coverage: Featured in The Financial Times and Bloomberg. Columns in Pro-Market Blog and VoxEU.org.

Figure of Sectoral Saving in The Global Rise of Corporate Saving with Peter Chen and Loukas Karabarbounis

The Global Rise of Corporate Saving (with Peter Chen and Loukas Karabarbounis)
Journal of Monetary Economics, 2017, 89, p.1-19.
Data: CKN Online Dataset.
Appendix: Online Appendix.
Slides: Presentation Slides.
Coverage: Featured in The Economist, Slate Magazine, Project Syndicate, The Washington Post, and the Chicago Magazine. Guest Contribution in EconBrowser.
Parts of this paper update our earlier working paper Declining Labor Shares and the Global Rise of Corporate Saving

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Obstfeld and Rogoff’s International Macro Puzzles: A Quantitative Assessment” (with Jonathan Eaton and Sam Kortum)
Journal of Economic Dynamics and Control, 2016, 72, p.5-23.
Note and Codes for Simplified Version of Model: 
NoteCodes.
Slides: 
Presentation Slides.

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Trade and the Global Recession” (with Jonathan Eaton, Sam Kortum, and John Romalis)
American Economic Review, 2016, 106(11), p.3401-3438.
Appendix: 
Online Appendix.
Note and Codes for Simplified Version of Model: 
NoteCodes.
Previous Version: 
Static Version.
Slides: 
Presentation Slides.
Coverage: Column in 
VoxEU.org. Featured in Marginal Revolution and Econbrowser.

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The Price Impact of Joining a Currency Union: Evidence from Latvia” (with Alberto Cavallo and Roberto Rigobon)
IMF Economic Review, 2015, 63(2), p.281-297. Lead Article.
Data and Replication: 
Raw Data (via Harvard/MIT Dataverse)Replication Materials.
Coverage: Column in 
VoxEU.org. Featured in Real World Economics Review BlogDaily Mail, and Blog-Illusio (in French).

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Trade Adjustment and Productivity in Large Crises” (with Gita Gopinath)
American Economic Review, 2014, 104(3), p.793-831.
Appendix: Online Appendix.
Slides: Presentation Slides.
Coverage: Featured in Foco Económico (in Spanish).

Discussant Comments on `The Decline of the U.S. Labor Share’ by Elsby, Hobijn, and Sahin
Brookings Papers on Economic Activity, Fall 2013, p.56-61.
Slides: Presentation Slides.

On Deficits and Unemployment” (with Jonathan Eaton and Sam Kortum)
Revue Economique, 2013, 64(3), p.405-420.

Trade Prices and the Global Trade Collapse of 2008-2009” (with Gita Gopinath and Oleg Itskhoki)
IMF Economic Review, 2012, 60(3), p.303-328. Lead Article.
Coverage: Column in VoxEU.org.

A State-Dependent Model of Intermediate Goods Pricing
Journal of International Economics, 2011, 85(1), p.1-13. Lead Article.

Growth Accounting with Misallocation: Or, Doing Less with More in Singapore” (with John Fernald)
American Economic Journal: Macroeconomics, 2011, 3(2), p.29-74.

 

Stickiness, Synchronization, and Passthrough in Intrafirm Trade Prices
Journal of Monetary Economics, 2010, 57(3), p.295-308.

The Impact of Post-9/11 Visa Policies on Travel to the United States” (with Phillip Swagel)
Journal of International Economics, 2009, 78(1), p.86-99.

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The Rise of Niche Consumption” (with Joe Vavra)
February 2021
Appendix: Online Appendix.
Coverage: Featured in Planet Money on National Public RadioThe New York TimesMarginal Revolution Blog, and Bloomberg.

Capital Depreciation and Labor Shares Around the World: Measurement and Implications” (with Loukas Karabarbounis)
October 2014
Appendix: Online Appendix.
Slides: Presentation Slides.
Coverage: Column in VoxEU.org. Featured in The Wall Street Journal and Equitable Growth Blog.

Menu Costs, Trade Flows, and Exchange Rate Volatility, by Logan LewisNBER IFM Program Meeting, November, 2012.

Trade Elasticities, by Jean Imbs and Isabelle Mejean2010 Pacific Basin Research Conference, FRB of San Francisco, October, 2010.

A new map of global capital allocation” (with Antonio Coppola, Matteo Maggiori and Jesse Schreger)
FDI Magazine, June 2021

The Global Capital Allocation Project” (with Matteo Maggiori and Jesse Schreger)
NBER Reporter, 2021, Number 1

Making a good job of remote work” (with Jonathan Dingel)
Financial Times, February 2021

Tariff Passthrough at the Border and at the Store: Evidence from US Trade Policy” (with Alberto Cavallo, Gita Gopinath and Jenny Tang)
VoxChina, September 2020

“What has coronavirus taught us about working from home?” (with Jonathan Dingel)
Economics Observatory, June 2020

“How Many Jobs Can Be Done At Home?” (with Jonathan Dingel)
VoxEU.org, April 2020

How Many Jobs Can Be Done at Home? In the United States, It’s 37 percent (with Jonathan Dingel)
ProMarket.org, April 2020

Three Pillars of the Economic Policy Response to the Covid-19 Crisis” (with Eric Budish, Anil Kashyap, and Ralph Koijen)
IGM Forum, March 2020

Exchange Rate Reconnect” (with Andrew Lilley, Matteo Maggiori, and Jesse Schreger)
VoxEU.org, January 2020

The Rise of Niche Consumption” (with Joe Vavra)
VoxEU.org, September 2019

What to Do With Missing Payments to Factors of Production” (with Loukas Karabarbounis)
VoxEU.org, June 2018

The Rise of the Dollar and Fall of the Euro in Global Asset Trade” (with Matteo Maggiori and Jesse Schreger)
VoxEU.org, June 2018

Factorless Income and Some Skepticism on the Case for Rising Markups” (with Loukas Karabarbounis)
Pro-Market, Blog of Chicago Booth Stigler Center, 2018, May 17

Trends in Factor Shares: Facts and Implications” (with Loukas Karabarbounis)
NBER Reporter, 2017, Number 4

The Research Agenda: The Evolution of Factor Shares” (with Loukas Karabarbounis)
Society for Economic Dynamics Newsletter, 2014, 15(2)

Labour Shares, Inequality, and the Relative Price of Capital” (with Loukas Karabarbounis)
VoxEU.Org, November 2014

Pricing and Eurozone Membership: Evidence from Latvia” (with Alberto Cavallo and Roberto Rigobon)
VoxEU.Org, August 2014

The Euro and Price Convergence” (with Alberto Cavallo and Roberto Rigobon)
VoxEU.Org, November 2013

The Great Trade Quantities Collapse” (with Gita Gopinath and Oleg Itskhoki)
VoxEU.Org, July 2012

“Trade and the Global Recession”
Chicago Council on Global Affairs, 2012 Summits Expert Commentaries, May 2012

Trade Accounting in the Recent Recessions” (with Jonathan Eaton, Samuel Kortum, and John Romalis)
VoxEU.Org, July 2010

Computers: Why the party’s over” (with M. Michael Cho)
McKinsey Quarterly, February 2002

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