We study the global distributive consequences of the “Great Reflation.” The conventional wisdom holds that the increases in interest rates resulting from high inflation in the United States will have a negative impact on the rest of the world (and developing countries in particular) due to...

Containing the COVID-19 pandemic will confer global benefits that greatly exceed the costs, but effective solutions require the redistribution of vaccines, technology, and other scarce resources from high-income to low-income countries. The United States has played a central role in coordinating...