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Second Quarter 2023

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Posted 2023-04-10

The Economic Impact of COVID-19 around the World

by Fernando M. Martin, Juan M. Sánchez, and Olivia Wilkinson

This article provides an account of the worldwide economic impact of the COVID-19 shock. In 2020, it severely impacted output growth and employment, particularly in middle-income countries.

Posted 2023-04-10

Shipping Prices and Import Price Inflation

by Maggie Isaacson and Hannah Rubinton

During the pandemic, there have been unprecedented increases in the cost of shipping goods accompanied by delays and backlogs at the ports. At the same time, import price inflation has reached levels unseen since the early 1980s.

Posted 2023-04-10

External Shocks versus Domestic Policies in Emerging Markets

by Emilio Espino, Julian Kozlowski, Fernando M. Martin, and Juan M. Sánchez

Debt crises in emerging markets have been linked to large fiscal deficits, high inflation rates, and large devaluations. This article studies a sovereign default model with domestic fiscal and monetary policies to understand Argentina's experience during the 2000s commodity boom (2005–2017), following the default of 2001.

Posted 2023-04-10

Tornado Cash and Blockchain Privacy: A Primer for Economists and Policymakers

by Matthias Nadler and Fabian Schär

This article explores non-custodial crypto asset mixers such as Tornado Cash. We analyze what types of mixers exist and how they work.