A newly assembled historical dataset reveals that inflation and the government's administrative capacity have historically driven U.S. tariff rates just as much as—if not more than—explicit congressional legislation. Takeaway: To understand how trade policy affects our economy today, we often look backward. But a new, comprehensive database tracking U.S. tariffs from 1789 to 2026 shows that standard assumptions about how trade barriers work over time need a major update. Key

Takeaway: When a nation's currency depreciates, multinational corporations often expand production at foreign subsidiaries rather than at home, shifting economic gains into overseas profits rather than domestic industrial growth. Key Points Rethinking traditional theory: Standard economic models predict that a weaker currency boosts domestic manufacturing by making exports cheaper, but large multinational networks alter this dynamic. Internal corporate reallocation: During Ja

This study researches policy choices in South Korea during this 1970s which significantly advanced it's Heavy Chemical Industry. Takeaway: South Korea’s targeted 1970s industrial drive significantly boosted production, labor productivity, and long-term global export competitiveness in heavy and chemical industries, while also benefiting downstream sectors that relied on those inputs. Key Points Direct Growth: South Korea’s Heavy and Chemical Industry (HCI) drive (1973–1979) i

Takeaway: By studying millions of Americans who permanently relocate across different climate zones, researchers found that warmer temperatures reduce worker earnings far less than leading climate-economy models predict. Key Points Short-term shocks vs. long-term climate: Traditional climate models often infer future economic damage from temporary weather spikes, which overstate long-run harm because they ignore human adaptation. Minimal wage penalty: Workers who move to loca

Joining an emissions trading scheme can lower a company’s borrowing costs, but only if the carbon market is active enough to give banks a reliable signal of the firm's environmental health.

Spending on new homes rose by 18.2 percent from the previous year, but rising costs and interest rates could slow down the pace of...

Most of the US workforce was negatively impacted by the pandemic in 2020. But as restrictions for most industries have eased up and...