Economic analysis of the US unconventional oil and gas revolution

Mathilde Mathieu, Thomas Spencer, Oliver Sartor, 22 March 2014

a

A

The recent rapid growth in the production of unconventional oil and gas (shale gas and tight oil) in the US has led to a significant decrease of natural gas prices as well as reduced oil imports. This has raised questions about the impacts of the unconventional oil and gas revolution on the US macroeconomy, industrial competitiveness, and energy sector.

Topics: Energy, Environment
Tags: energy, energy independence, environment, fracking, gas, oil, shale gas, tight oil, US

The economic impact of inward FDI on the US

Theodore H. Moran, Lindsay Oldenski, 4 March 2014

a

A

The US is the second-largest recipient of FDI in the world, behind China, and by far the largest target for FDI among OECD countries (OECD 2013). The numbers are large ($253 billion for the US), and the gap with the next-largest in the OECD is impressive ($63 billion for the UK and $62 billion for France in 2012).

Topics: Productivity and Innovation
Tags: FDI, multinationals, productivity, R&D, spillovers, US, wages

Foreign investors and crises: There is no safe haven for all seasons

Maurizio Michael Habib, Livio Stracca, 28 February 2014

a

A

The resilience of the international status of the US dollar remains surprising (Frankel 2013). At the peak of the global financial crisis which started in the US, in particular in the last quarter of 2008, US treasury yields fell and the US dollar appreciated. This has created the impression of a stronger demand for US securities in general.

Topics: Financial markets, Global crisis
Tags: asset pricing, financial crisis, global crisis, home bias, portfolio flows, reserve currency, risk aversion, safe haven, US

Political connections in turbulent times

Daron Acemoglu, Simon Johnson, Amir Kermani, James Kwak, Todd Mitton, 25 February 2014

a

A

When assessing the political situation in many countries, it is common practice, and entirely reasonable, to consider who has what kind of personal connection to people in, or contending for, power.

Topics: Politics and economics
Tags: emerging markets, political connections, US

The US manufacturing recovery: Uptick or renaissance?

Oya Celasun, Gabriel Di Bella, Tim Mahedy, Chris Papageorgiou, 24 February 2014

a

A

Amid increasing anecdotes of a ‘renaissance’ in US manufacturing, many commentators have argued that the sector may contribute more significantly to domestic GDP and global industrial output in future (e.g. Financial Times 2012, New York Times 2012, McKinsey Global Institute 2012, Citi Research 2013).

Topics: Global economy
Tags: Great Recession, growth, manufacturing, US

Clarifying the debate about deflation concerns

Mickey Levy, 21 February 2014

a

A

A common theme among many economic policymakers, financial market participants, and the media is that rich industrialised nations face a high risk of deflation, and that deflation always harms economic performance and so must be combatted with aggressive macroeconomic stimulus. Such broad assessments are misleading, and under certain circumstances may lead to misguided policies.

Topics: Global crisis, Monetary policy
Tags: deflation, disinflation, Europe, eurozone, Japan, quantitative easing, US

Firm age, investment opportunities, and job creation

Manuel Adelino, Song Ma, David Robinson, 12 February 2014

a

A

Economists have long been concerned with understanding how firms respond to changing investment opportunities. Indeed, this question is central to ongoing policy discussions about economic growth and job creation, since the way firms create jobs is by increasing investment and employment in response to new economic opportunities.

Topics: Financial markets, Labour markets, Productivity and Innovation
Tags: employment, entrepreneurship, firm age, growth, job creation, US

Where is the land of opportunity? Intergenerational mobility in the US

Raj Chetty, Nathaniel Hendren, Patrick Kline, Emmanuel Saez, 4 February 2014

a

A

The US is often hailed as the land of opportunity, a society in which a child's chances of success depend little on her family background. Is this reputation warranted?

Topics: Poverty and income inequality
Tags: Intergenerational Mobility, segregation, US

Information frictions and the law of one price: "When the states and the kingdom became united"

Claudia Steinwender, 16 January 2014

a

A

When it comes to global trade flows, the world is still far from flat. What kind of trade barriers explain the “missing trade” (Trefler 1995)? Economists have recognised that indirect barriers are more important than direct trade barriers (e.g. tariffs), but the precise nature of these barriers is still poorly understood (Anderson and van Wincoop 2004, Head and Mayer 2013).

Topics: International trade
Tags: Hollister UK, information frictions, international trade, US

Greater inequality and household borrowing? New evidence from household data

Olivier Coibion, Yuriy Gorodnichenko, Marianna Kudlyak, John Mondragon, 29 January 2014

a

A

The financial crisis of 2008–09 was preceded by an exceptional rise in borrowing by US households, accounted for primarily by a rise in mortgage debt. There are two main views about the source of this ‘great leveraging’:

Topics: Financial markets, Poverty and income inequality
Tags: credit rationing, debt, Inequality, subprime mortgage crisis, US

Vox eBooks

Events