Using a novel sample of foreign securities available for trade in 42 countries during the last four decades (1979-2018), we characterize the rise in importance of foreign stocks for investors in their host countries and its implications for diversification benefits across industries and...

This article presents bilateral international migration projections to 2050 based on a new methodology that takes into account the population growth both in countries of origin and countries of destination. To do this, the methodology used by Hanson and McIntosh (2016) to project the future...

In light of recent global economic and geopolitical shocks threatening trade openness, this report aims to shed light on geoeconomic fragmentation and develops a rich set of new tools to assess its economic effects and implications for central banks. The report shows that, although global trade...

The Cold War was the defining episode of geopolitical fragmentation in the twentieth century. Trade between East and West across the Iron Curtain (a symbolical and physical barrier dividing Europe into two distinct areas) was restricted, but the severity of these restrictions varied over time....

Using an empirical gravity model, I estimate the contribution of changes in relative labor supply to bilateral migration in the 2000s and apply the resulting estimates to project future bilateral flows based on population forecasts by the United Nations. I extend the work of Hanson and McIntosh...