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Economic Sanctions: Evolution, Consequences, and Challenges

[Symposium: Trade Sanctions and International Relations]

By T. Clifton Morgan, Constantinos Syropoulos, and Yoto V. Yotov

Journal of Economic Perspectives, Winter 2023

Taking an interdisciplinary perspective, we examine the evolution of economic sanctions in the post-World War II era and reflect on the lessons that could be drawn from their features and patterns of use. We observe that, during this time, there has been ...

www.aeaweb.org/articles?id=10.1257/jep.37.1.3

Financial Sanctions, SWIFT, and the Architecture of the International Payment System

[Symposium: Trade Sanctions and International Relations]

By Marco Cipriani, Linda S. Goldberg, and Gabriele La Spada

Journal of Economic Perspectives, Winter 2023

Financial sanctions, alongside economic sanctions, are components of the toolkit used by governments as part of international diplomacy. The use of sanctions, especially financial, has increased over the last 70 years. Financial sanctions have been part...

www.aeaweb.org/articles?id=10.1257/jep.37.1.31

Monetary Policy When the Central Bank Shapes Financial-Market Sentiment

[Symposium: Monetary Policy]

By Anil K Kashyap and Jeremy C. Stein

Journal of Economic Perspectives, Winter 2023

Recent research has found that monetary policy works in part by influencing the risk premiums on both traded financial-market securities and intermediated loans. Research has also shown that when risk premiums are compressed, there is an increased likelih...

www.aeaweb.org/articles?id=10.1257/jep.37.1.53

Risk Appetite and the Risk-Taking Channel of Monetary Policy

[Symposium: Monetary Policy]

By Michael D. Bauer, Ben S. Bernanke, and Eric Milstein

Journal of Economic Perspectives, Winter 2023

Monetary policy affects financial markets and the broader economy in part by changing the risk appetite of investors. This article provides new evidence for this so-called risk-taking channel of monetary policy by revisiting and extending event-study an...

www.aeaweb.org/articles?id=10.1257/jep.37.1.77

CSWEP Board: Gina Pieters

[Page]

www.aeaweb.org/about-aea/committees/cswep/about/members/gina-pieters

Falling wages and discretionary pay-setting practices

[Research Highlight]

February 06, 2023

A decline in the use of standardized pay rates contributed to stagnating wages from the 1970s to the mid-1990s.

www.aeaweb.org/research/wage-stagnation-standardized-pay-rates

Wage Stagnation and the Decline of Standardized Pay Rates, 1974–1991

By Maxim Massenkoff ⓡ Nathan Wilmers

American Economic Journal: Applied Economics, January 2023

Using new establishment-by-occupation microdata, we show that the use of discretionary wage setting significantly expanded in the 1970s and 1980s. Increasingly, wages for blue-collar workers were not standardized by job title or seniority but instead subj...

www.aeaweb.org/articles?id=10.1257/app.20200819