We provide evidence on the dynamic effects of fuel price shocks, shipping demand shocks, and shipping supply shocks on real dry bulk freight rates in the long run. We first analyze a new and large dataset on dry bulk freight rates for the period from 1850 to 2020, finding that they followed a...

We provide evidence on the dynamic effects of fuel price shocks, shipping demand shocks, and shipping supply shocks on real dry bulk freight rates in the long run. We first analyze a new and large dataset on dry bulk freight rates for the period from 1850 to 2020, finding that they followed a...

Recent research on glass ceilings and sticky floors has focused on the magnitude of differences between groups in the upper and lower quantile cutoffs of the conditional wage distribution. However, quantile cutoffs for different groups are only weakly informative of representation. For example,...

Recent research on glass ceilings and sticky floors has focused on the magnitude of differences between groups in the upper and lower quantile cutoffs of the conditional wage distribution. However, quantile cutoffs for different groups are only weakly informative of representation. For example,...

What has driven trade booms and trade busts in the past century and a half? Was it changes in global output or in the costs of international trade? To address this question, we derive a micro-founded measure of aggregate bilateral trade costs based on a standard model of trade in differentiated...