+ + +
+ In CBS News, JFI's Stephen Nuñez discusses the Child Tax Credit and its "huge impact on child poverty in the United States." Link.
+ JFI Senior Fellow Claudia Sahm comments on the Covid-19 relief package in Mother Jones and Yahoo Finance. Link, and link.
+ "In the case of Amazon, which instituted a $15 minimum wage in October 2018, our estimates imply that a 10% increase in Amazon's advertised hourly wages led to an average increase of 2.6% among other employers in the same commuting zone." Ellora Derenoncourt, Clemens Noelke, and David Weil on the spillover effects from voluntary employer wage increases. Link.
+ A new study finds that the Amazon rainforest is transforming from a carbon sink into a carbon source. Link.
+ In the FT, Daniela Gabor and Crystal Simeoni examine proposals to expand the IMF's special drawing rights system to the African bond market. Link.
+ "We find that while automatic government spending is, as expected, countercyclical in industrial countries, it is, surprisingly, procyclical in the developing world." By Luciana Galeano, Alejandro Izquierdo, Jorge Puig, Carlos Vegh, and Guillermo Vuletin. Link.
+ "Relative to the positive welfare effects of a trade-cost reduction in standard models, our model implies a sizeable welfare cost associated with the increased land-usage of ports." César Ducruet, Réka Juhász, Dávid Krisztián Nagy, and Claudia Steinwender on port development. Link.
+ Katrine Jakobsen, Kristian Jakobsen, Henrik Kleven, and Gabriel Zucman on wealth accumulation after the 1989 reform and subsequent abolition of Denmark's wealth tax. Link.
+ On the effects of Fox News viewership during Covid-19. By Elliott Ash, Sergio Galletta, Dominik Hangartner,Yotam Margalit, and Matteo Pinna. Link.
+ Pablo Gabriel Bortz charts the trajectory of Keynes' theories of the business cycle. Link.
+ "During the final years of the minority of King Henry III, the wardrobe emerged as the king’s personal administrative office. Accompanying the king on his perambulations across England and France, the wardrobe was chiefly responsible for collecting and disbursing revenue for his daily needs. The wardrobe thereby superseded the chamber, to which government records make little further reference until the late fourteenth century. The activities of the wardrobe during the reign of Henry III are recorded in a sequence of 15 accounts. The wardrobe’s financial strength was the result of a new, and deliberate, approach to acquiring revenue beyond the treasury that targeted sources of income that could generate cash quickly. During Henry’s final years, this included greater reliance on credit." By Benjamin Wild. Link.
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