This study analyzes the relationship between dollar exchange rate and crude oil price. Unlike previous literature which established a bilateral causal relationship between the two prices, this paper proposes that gold price is likely to be a common driver of the two prices and therefore, the...

We build a multi-sector spatial general equilibrium model to account for China’s export surge between 1990 and 2005. We focus on the role of the reductions in tariffs and internal migration costs during that period. Our model generates a closed-form aggregate trade elasticity that can be...

We built a multi-sector spatial general equilibrium model, featuring heterogeneous firms’ and workers’ location choices, to account for China’s export surge between 1990 and 2005 from three policy changes: China’s import tariffs, tariffs imposed against China’s exports, and barriers to...

We built a multi-sector spatial general equilibrium model, featuring heterogeneous firms’ and workers’ location choices, to account for China’s export surge between 1990 and 2005 from three policy changes: China’s import tariffs, tariffs imposed against China’s exports, and barriers to...

This research note examines whether the exposure of local labor markets to increased import competition from China effected voting in the U.S. presidential election in 2016. It relates the change in the county-level Republican two-party vote share between 2000 and 2016 to the growth in local...

In this paper, I examine high-income country motives for restricting immigration. Abundant evidence suggests that allowing labor to move from low-income to high-income countries would yield substantial gains in global income. Yet, most high-income countries impose strict limits on labor inflows...