DP22003 Unequal Returns: Industrialization and the Concentration of Wealth
This working paper studies how changes in the distribution of capital returns after the Industrial Revolution shaped wealth.
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This working paper studies how changes in the distribution of capital returns after the Industrial Revolution shaped wealth.
This working paper investigates what adults across countries expect from AI, including its potential to complement workers or replace labour.
This French-language column discusses carbon taxation and who bears the costs of carbon neutrality; its estimates should be consulted in the original.
This working paper studies how international firms hedge trade-cost uncertainty, including adjustments between exporting and foreign investment.
This research highlight examines bank lending and global finance as geopolitical tensions reshape trade, investment and capital flows.
This working paper studies the investment channel of monetary policy through differences in firm characteristics.
This working paper considers the spatial consequences of a climate tipping point, focusing on the Atlantic Meridional Overturning Circulation.
This working paper examines statistical inference with Poisson pseudo-maximum likelihood in gravity models when trade and factor flows have heavy tails.
This column examines EU debt as responses to major shocks have made the EU a significant borrower in international financial markets.
This working paper studies how the fiscal effects of monetary policy, and when they are resolved, matter for monetary transmission.
The study examines how the shale revolution and the U.S. shift from petroleum importer to net exporter have altered the macroeconomic impacts of oil shocks.
In a three-stage global public good coalition formation game, Kornek and Edenhofer (2020) propose a transfer scheme in the spirit of mechanism design which
This study examines how monetary policy affects innovation investment using a survey of German firms, which report an average 20% persistent reduction in innovation investment.
This working paper examines the impact of Brexit on UK firms' input sourcing and sales, assessing the success of European integration in removing non-tariff trade barriers.
Professional judgement develops through experience, but AI may disrupt this learning process. This column examines how randomized access affects it.
This working paper discusses how non-fundamental inflows into the stock market loosen financial conditions and increase output, with the policy rate responding gradually.
China launched a nationwide, rate-based carbon market in 2021 covering the world's largest CO2 emitter, with compliance based on carbon emission intensity.
We introduce an AI industry into a career signaling model in which early-career work both signals a worker's ability and builds her long-run skills.
We show that following the diffusion of GenAI, industries with higher task-level exposure experience 20% more startup formation than less-exposed industries, and a growing
How does experiencing direct investment loss affect individuals’ trust in the financial system? Exploiting recent UK corporate financial failures that generated press headlines, government
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