We develop a two-country business-cycle model of the US and the rest of the world with dollar dominance in trade invoicing, in cross-border credit, and in safe assets. The interplay between these elements—dollar trinity—rationalizes salient features of the Global Financial Cycle in the data: When its tide subsides, the dollar appreciates, financial conditions tighten, the world business cycle slows ...
Diese Dissertation setzt sich aus vier empirischen Kapiteln über Ungleichheit zusammen, wobei die Kapitel 1 und 2 regionale Ungleichheiten behandeln, während die Kapitel 3 und 4 Ungleichheit auf individueller Ebene untersuchen.Das erste Kapitel leistet einen methodischen Beitrag zur Literatur über regionale Ungleichheit, indem es den Befehl fayherriot für die Statistiksoftware Stata bereitstellt. Der ...
We show that the first nationwide mass vaccination campaign against measles increased educational attainment in the United States. Our empirical strategy exploits variation in exposure to the childhood disease across states right before the Measles Eradication Campaign of 1967–68, which reduced reported measles incidence by 90 percent within two years. Our results suggest that mass vaccination against ...
