Using a new firm-level dataset on private and listed firms from 20 countries, we document five stylized facts on market power in global markets. First, competit

This paper studies the macroeconomic effect and underlying firm-level transmission channels of a reduction in business entry costs. We provide novel evidence on

"The ongoing COVID-19 pandemic marks the most significant, singular global disruption since World War II, with health, economic, political, and security implica

This paper focuses on the sluggish growth of world trade relative to income growth in recent years. The analysis uses an empirical strategy based on an error co

Grand explanations of how to understand the complex twenty-first-century world have all fallen short–until now. In The Second World, the brilliant young schol