A pioneering startup called Merit Systems Inc. is getting a lot of attention today after raising $10 million to create a new economic model for software developers that it calls “open-source ...

Abstract: This paper develops a small open economy model in which entrepreneurs partially finance investment using foreign currency–denominated debt subject to an external finance premium. We use ...

People have been worrying about U.S. debt basically ever since there even was a U.S. “The accumulation of debts is a most fearful evil,” Thomas Jefferson wrote in 1787. At the time, U.S. debt was ...

In an open-economy model with labor market search frictions and both the intensive and extensive margins, we identify two interrelated inefficiencies in the decentralized allocation. First, a trade ...

Addressing infrastructure challenges is vital to supporting domestic firms’ growth and competitiveness. Ireland ranks as the ...