Recent Research by Faculty

The following publications and working papers illustrate some of the recent research by our faculty. For more research see individual faculty member websites.

Dave Rapson and Burkhard Schipper: "The Impact of the 2022 Oil Embargo and Price Cap on Russian Oil Prices." Federal Reserve Bank of Dallas Working Paper, 2024.
The paper finds that
the oil embargo on Russian oil exports following Russia's invasion of Ukraine in forced Russia to accept a $32/bbl discount on its Urals crude in March 2023 relative to January 2022. Half was due to the higher cost of shipping crude oil over longer distances and half due to increased bargaining power of India. The associated price cap had little effect on the Russian oil export price, although it was instrumental in removing restrictions on the use of Western shipping services to transport Russian crude.

Marianne Bitler: "Mothers as Insurance: Family Spillovers in WIC", Published in Journal of Health Economics, 2023.
We find little impact on children when they age out of the WIC program at age five. But among adult women caloric intake falls and food insecurity increases, suggesting that mothers protect children by consuming less themselves.

Oscar Jorda and Alan Taylor: "Loose monetary policy and financial instability, " NBER Working Paper, 2023.
We find that when the stance of monetary policy is accommodative over an extended period, the likelihood of financial turmoil down the road increases considerably.

Diana Moreira; "Political Turnover, Bureaucratic Turnover, and the Quality of Public Services," Published in the American Economics Review, 2022.
Exploiting a regression discontinuity design for close elections in Brazil, we find that political turnover can adversely affect the quality of public services when the bureaucracy is not shielded from the political process.

Giovanni Peri: "Intergenerational spillover effects of language training for refugees," Published in the Journal of Public Economics, 2023.
We find that a reform in Denmark in 1999 that expanded language training for adult refugees and was shown to improve their earnings and job market outcomes permanently, also increased lower secondary school completion rates and decreased juvenile crime rates for their children.

Katherine Eriksson and Katheryn Russ, "Trade shocks and the shifting landscape of U.S. manufacturing," Published in the Journal of International Money and Finance, 2023.
Using data over more than a century, we show that shifts in the location of manufacturing industries are consistent with the belief that there are long-term, secular trends in U.S. industrial structure driving the movement of industries, which shocks may mitigate or accelerate.

Emile Marin : "Capital Controls and Free-Trade Agreements." NBER Working paper.
How does the conduct of optimal cross-border financial policy change with prevailing trade agreements? Accounting for strategic retaliation, we show that committing to a free-trade agreement can reduce incentives to engage in costly capital-control wars for both countries.