Intra-firm trade, from parents to affiliates, has been combined with standard models of multinational production (MP) to deliver gravity-style predictions for foreign affiliates' sales. Nonetheless, the evidence shows that intra-firm trade is concentrated among a small set of large multinational...

We study the relationship between corporate debt, corporate risk and firm-level investment, using a sample of 25,000 listed companies across 47 countries over the last two decades. We find higher leverage reduces investment but show the effect varies with risk, as measured by firm time-varying...

Online Technical Appendix to "Fighting Global Warming: Is Trade Policy in Latin America and the Caribbean a Help or a Hindrance?"It describes in more detail the data sources, the empirical strategy; and presents a series of robustness checks.

Eleven countries in Latin America and the Caribbean have committed to achieving net-zero emissions by 2050. Changes in the food system are critical to achieving these carbon neutrality goals, as agriculture and the resulting land use changes are responsible for almost half of the greenhouse gas...

We use matched employer-employee data together with data on the ownership networks of Chilean firms to document a novel relationship between inequality in labor income and ownership structures. Exploiting transitions of firms in and out of networks, we show that network affiliation is associated...

We exploit new experimental and quasi-experimental data to investigate voters' intrinsic motivation to engage politically. Does having the right to vote increase engagement or, given significant incentives to free ride, do eligible voters remain rationally unengaged? Does knowledge that one's...

There is scant empirical economic research regarding the way that Latin American governments efficiently allocate their spending across different functions to achieve higher growth. While most papers restrict their analysis to the size of government, much less is known about the composition of...

This paper assesses the local economic impact of pelagic Sargassum seaweed washed ashore in tourism-heavy coastal zones in the Mexican State of Quintana Roo. The study relies on a carefully designed Geographic Information Systems (GIS) dataset of monthly observations from 2016 to 2019 for 157...

We study the effects of the COVID-19 pandemic and the pension policy response on the private and public pension systems of Peru. We find that the policies allowing early withdrawals from the private pension balances imply a significant reduction in expected pension wealth by about 40 people, yet...

Cash transfer and other social protection programs in developing countries have often been accompanied by measures to foster financial inclusion, such as the adoption and use of bank accounts and electronic means of payments. Argentina's social benefits are paid in bank accounts and accessed...