SpaceX’s stock threatens to fall below the IPO price. Do investors face a ‘crisis’ if it does?

India’s annual inflation rate breaches the RBI target for the first time in 16 months rising to 4.38% in June !“#$%&‘()*+,–./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|} !“#$%&‘()*+,–./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}

Copy Citation Fabian Schär, Dario Thürkauf, and David Yermack, “Unruly by Design: Fee Volatility and Strategic Attacks in Bitcoin Mining,” NBER Working Paper 35443 (2026), https://doi.org/10.3386/w35443. Copy to Clipboard Download Citation

This paper shows that the currency in which traded goods are invoiced has a first-order implication for the short-run impact of tariffs on the economy. If prices are set in terms of producer’s currency (PCP), a unilateral tariff is contractionary on impact, reducing GDP, and causing a deterioration in the trade balance. By contrast, with…

We are grateful to Princeton and Stanford Universities for research support. We thank Pol Antràs, Arnaud Costinot, Elhanan Helpman, Oleg Itskhoki, Matteo Maggiori, Andrés Rodríguez-Clare, Diana Van Patten, Ludwig Straub, Mathieu Taschereau-Dumouchel, and participants at the CEPR Trade Wars and De-dollarization conference, CEPR Geoeconomics conference, CEPR Erwit Conference, Global Economic Networks (GEN) Workshop, Cowles Foundation…

Key Findings Digital services taxes (DSTs) are gross-based taxes, which can pyramid through supply chains and cause disproportionate harm to low-margin businesses and to value chains with multiple participants; the same underlying commerce may be included in multiple firms’ taxA tax is a mandatory payment or charge collected by local, state, and national governments from…

Asian shares slump on chipmaker drag, bonds cheer cooler inflation