We estimate an empirical model of exchange rates with transitory and permanent monetary shocks. Using monthly post-Bretton-Woods data from the United States, the United Kingdom, and Japan, we report four main findings: First, there is no exchange rate overshooting in response to either temporary...

Societies socialize children about sex. This is done in the presence of peer-group effects, which may encourage undesirable behavior. Parents want the best for their children. Still, they weigh the marginal gains from socializing their children against its costs. Churches and states may...

This paper combines data on GDP, unemployment, and Google's COVID-19 Community Mobility Reports with data on deaths from COVID-19 to study the macroeconomic outcomes of the pandemic. We present results from an international perspective using data at the country level as well as results for...

This paper estimates an empirical model of exchange rates and uncovered interest rate differentials with permanent U.S. monetary policy shocks. Using post-Bretton-Woods data from the United States, the United Kingdom, Japan, and Canada, it reports two main findings: First, monetary shocks that...

Societies socialize children about many things, including sex. Socialization is costly. It uses scarce resources, such as time and effort. Parents weigh the marginal gains from socialization against its costs. Those at the lower end of the socioeconomic scale indoctrinate their daughters less...

Societies socialize children about sex. This is done in the presence of peer-group effects, which may encourage undesirable behavior. Parents want the best for their children. Still, they weigh the marginal gains from socializing their children against its costs. Churches and states may...

This paper combines data on GDP, unemployment, and Google's COVID-19 Community Mobility Reports with data on deaths from COVID-19 to study the macroeconomic outcomes of the pandemic. We present results from an international perspective using data at the country level as well as results for...

Societies socialize children about many things, including sex. Socialization is costly. It uses scarce resources, such as time and effort. Parents weigh the marginal gains from socialization against its costs. Those at the lower end of the socioeconomic scale indoctrinate their daughters less...