Evidence that domestic outsourcing lowers pay comes largely from on-site transfers, in which workers move to a contractor but keep the same jobs. Displacement is rarely observed: whether workers lose their jobs, where they go, how earnings evolve. In Brazil’s 1993–1994 pro-outsourcing reforms, which differentially affected security guards, such transfers were rare; firms instead used…
BNY’s Geoff Yu sees Latin American currencies underpinned by strong balance-of-payments positions and attractive carry, even as global equity nerves rise. Yu notes that conflict-era inflows have created a solid buffer against potential Dollar strength, while Banxico’s easing path and under-owned Peruvian Sol (PEN) stand out, though overall FX total return prospects lag EMEA (Europe,…
Presented by: Daniel Bunn This year, a wave of new company tax disclosures is coming in response to increased transparency requirements from US accounting standards, the European Union, and Australia. Because the data will be messy and poorly suited for drawing strong conclusions, the data the new rules require companies to produce can easily be…
This paper studies the economic effects of US restrictions on the employment of foreign workers in low-skill, nonfarm jobs through the H-2B visa. Leading industries that hire H-2B workers include groundskeeping, hospitality, construction, forestry, and seafood packing. US employers’ access to this visa is limited by a federal government quota and allocated in part via…
A Kalshi advertisement seen in Washington on March 27, 2026. Paul Lester | CNBC The 9th U.S. Circuit Court of Appeals rejected prediction market platforms’ requests for injunctive relief against the Nevada Gaming Control Board, concluding that sports-related event contracts are not a derivative regulated by the federal government. The court rejected appeals by Kalshi…