We document a decline in the dollar share of international reserves since the turn of the
century. This decline reflects active portfolio diversification by central bank reserve managers; it …

We document a decline in the dollar share of international reserves since 1999. This
decline reflects active portfolio diversification by central bank reserve managers, rather than …

As the pandemic heigthened policymakers’ demand for more frequent and timely indicators
to assess economic activities, traditional data collection and compilation methods to produce …

In this paper, we present a framework for assessing the effectiveness of different business
closure policies, using New York City as a case study. Business closure policies have been …

Countries which share a common currency potentially have strong incentives to share
macroeconomic risks through a system of transfers to compensate for the loss of national …

The literature on scal federalism usually argues that policies involving income reallocation
should be administered by the highest level of government. This argument, however, neglects …

After moving slowly downward for the better part of four decades, central bank gold holdings
have risen since the Global Financial Crisis. We identify 14 “active diversifiers,” countries …

This paper explores how income support for working poor households varies across US
states. We overcome limitations in survey data by approximating the lower tails of state income …

This thesis investigates consumption insurance within economic unions from both a country
and household perspective. Chapter 1 deals with the question of how an economic union …

In the division of scal responsibilities between central and local governments, it is usually
argued that income insurance and nequality should be dealt with by the central government. …