This paper considers possible futures for the international monetary system in light of recent economic and political events in the United States and globally. It contrasts scenarios pre- and post-inauguration of the second Trump administration. Earlier scenarios foresaw very gradual rebalancing...

Scholars and politicians have expressed concern that immigrants from countries with low levels of political trust transfer those attitudes to their destination countries. Using large-scale survey data covering 38 countries and exploiting origin-country variation across different cohorts and...

Scholars and politicians have expressed concern that immigrants from countries with low levels of political trust transfer those attitudes to their destination countries. Using large-scale survey data covering 38 countries and exploiting origin-country variation across different cohorts and...

Specialists in international finance have long been impressed by the fragility of currency pegs. Yet Danmarks Nationalbank has been able to maintain the krone's peg to the euro since the euro came into existence in 1999, and the krone's peg to the Deutschmark and SDR for 17 years before that....

Using hand-collected data spanning more than a decade on European banks' sovereign debt portfolios, we show that the trust of residents of a bank's countries of operation in the residents of a potential target country of investment has a positive, statistically significant, and economically...

In response to new developments in financial structure and technology, and galvanized by recent eruptions of volatility, officials from Washington to London to Brussels are grappling with how to regulate the cluster of practices known as decentralized finance, or DeFi. This is a political as...