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Abstract. We study the dynamics of income and wealth inequality using a heterogeneous-agent model that combines endogenous portfolio choice, a granular rep

Lors d’une table ronde au « Printemps de l’Economie », le prix Nobel Philippe Aghion a dénoncé l’inefficacité du dispositif très généreux français, capté par les grands groupes et qui le défendent en ...

Founded in 1920, the NBER is a private, non-profit, non-partisan organization dedicated to conducting economic research and to disseminating research findings among academics, public policy makers, an...

YouTube video by Reagan Library

Founded in 1920, the NBER is a private, non-profit, non-partisan organization dedicated to conducting economic research and to disseminating research findings among academics, public policy makers, an...

Trade policy tensions are escalating fast. In recent months, several large economies have announced or implemented sweeping new tariffs, reviving a policy tool that many thought to have been largely r...

President Donald Trump has started his second term in office with momentous plans to change US trade policy to achieve various economic and nontrade related aims. Below is a timeline that tracks the d...

The trade economist Paul Krugman parses the ‘layers of wrongness’ in Trump’s tariff policy.

In Finland, the number of homeless people has fallen sharply. Why? The country applies the "Housing First" concept agains homelessness.

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The 2015 Swiss franc appreciation provided researchers with a unique empirical setting for understanding how large exchange rate movements shape economic outcomes. This column discusses key findings about the response of firms and consumers. The relatively muted pass-through observed in Switzerland reveals that a stronger currency does not fully translate into proportionate reductions in consumer prices, either at short or medium horizons. Household heterogeneity is also a key theme – low-income households which are more price-sensitive can benefit disproportionately from cheaper foreign goods, while households near the border can further benefit by shopping abroad.

OPINION. Par Stéphane Auray, Rennes School of Business, CREST-Ensai et OFCE, et Aurélien Eyquem, Université de Lausanne.