CJEB

Findings from a paper co-authored by CJEB's Director, Professor David Weinstein, titled “The Anatomy of Tariff Pass-Through into Consumer Prices” were referenced in the Wall Street Journal article titled “The Biggest Inflation Contributor: Tariffs”Read the full article here.The core findings from the research paper, “The Anatomy of Tariff Pass-Through into Consumer Prices,” are also summarized by the paper's co-authors in a research blog post titled “How Fast Do Tariffs Pass Through into Consumer Prices?” which was published on the Liberty Street Economics blog. The platform features insight and analysis from New York Fed economists working at the intersection of research and policy. Read the research paper here. Read the blog post here. The Biggest Inflation Contributor: Tariffs (The Wall Street Journal, 10/20/2026) 

Professor Shivaram Rajgopal, Roy Bernard Kester and T.W. Byrnes Professor of Accounting and Auditing and Chair of the Accounting Division at Columbia Business School, was interviewed by Nikkei for the article "米コロンビア大ラジゴパル教授「アクティビストは苦い薬」." Read the full article here.The interview covers differences between corporate governance in the United States and Japan. Professor Rajgopal's research in Japan was supported by the Center on Japanese Economy and Business under the Center’s Corporate Governance and Stewardship Program."米コロンビア大ラジゴパル教授「アクティビストは苦い薬」" (Professor Rajgopal of Columbia University: "Activists are a bitter pill to swallow.") (Nikkei, 10/08/2026)Note: Articles with titles in Japanese are unofficially translated into English by CJEB.

A research blog post co-authored by CJEB’s Director, Professor David Weinstein, titled “How Fast Do Tariffs Pass Through into Consumer Prices?” was published on the Liberty Street Economics blog, and numerous media outlets have cited the findings. The platform features insight and analysis from New York Fed economists working at the intersection of research and policy.The blog post summarizes the core findings from the underlying research paper, “The Anatomy of Tariff Pass-Through into Consumer Prices”:“There has been a lot of interest in how tariffs affect consumer prices (for example, Cavallo et al. 2021, 2025). In this post, we present results from our new research paper that estimates the effects of the 2025-26 tariffs on retail consumer prices. We find that for every percentage point increase in average tariffs, consumer goods prices increase by about a quarter of a percent after one year. Roughly two-thirds of the effect arises because tariffs raise the prices of imported consumer goods. The remaining third arises indirectly: tariffs increase the prices of goods made in the U.S. because producers pay more for imported parts and materials, and because producers raise their markups when competing imports cost more. The effects differ in their timing. Prices of imported goods respond quickly to tariffs, while prices of U.S.-made goods adjust over six to twelve months as higher costs move through the supply chain.”Blog Post: How Fast Do Tariffs Pass Through into Consumer Prices? - Liberty Street EconomicsMary Amiti, Sebastian Heise, and David E. WeinsteinResearch Paper: The Anatomy of Tariff Pass-Through into Consumer PricesMary Amiti, Sebastian Heise, David E. Weinstein 

Ritsu Kitagawa, a recipient of the Center on Japanese Economy and Business (CJEB) Doctoral Fellowship and a current student in the PhD Program in both the Department of Economics and Columbia Business School, co-authored a working paper that was featured in the Nikkei piece “AIが変える資本市場のエコシステム　人間の居場所はどこだ.” Read the full article hereThe referenced working paper uses employee review data from OpenWork to measure the organizational capital of Japanese firms, building on recent work using Glassdoor. Database access through CJEB was an important resource for this research. The paper was co-authored with Akseli Palomäki, a graduate student at Columbia University, and Kaede Hanazawa, a graduate student at the University of Tokyo. Read the working paper here AIが変える資本市場のエコシステム　人間の居場所はどこだ (How AI Is Transforming the Capital Market Ecosystem: Where Is the Place for Humans?) (Nikkei, 9/27/2026)Note: Articles with titles in Japanese are unofficially translated into English by CJEB.

A research blog post co-authored by CJEB's Director, Professor David Weinstein, “Who Is Paying for the 2025 U.S. Tariffs?” was published on the Liberty Street Economics blog, which features insight and analysis from New York Fed economists working at the intersection of research and policy. The post and its contents have been widely cited in over 100 articles, including prominent publications such as the Wall Street Journal, the New York Times, the Financial Times, and many more. A selected list of these and other articles referencing the post and its contents is included below.“Who Is Paying for the 2025 U.S. Tariffs?”  begins with this text to explain what it covers: “Over the course of 2025, the average tariff rate on U.S. imports increased from 2.6 to 13 percent. In this blog post, we ask how much of the tariffs were paid by the U.S., using import data through November 2025. We find that nearly 90 percent of the tariffs’ economic burden fell on U.S. firms and consumers.”US Firms Paid Nearly 90% of 2025 Tariff Costs, NY Fed Study Says (Bloomberg, 2/12/2026)Trump Plays Risky Political Game on Tariffs Ahead of Midterms (Bloomberg, 2/12/2026) US businesses and consumers pay 90% of tariff costs, New York Fed says (Financial Times, 2/12/2026)  Americans Are Paying the Bill for Tariffs, Despite Trump’s Claims (The New York Times, 2/12/2026)Inflation measure falls to nearly five-year low as gas prices fall and housing costs cool (Associated Press, 2/13/2026)Trump Trade Team Working to Narrow Scope of Metals Tariffs (Bloomberg, 2/13/2026)Trump plans to roll back tariffs on metal and aluminium goods (Financial Times, 2/13/2026)    "U.S. Inflation Eased at Start of the Year " (The New York Times, 2/13/2026)You’re Paying 90% of Trump’s Tariffs (The Wall Street Journal, 2/13/2026) Trump’s Broad Use of Metals Tariffs Starts to Backfire, Requiring a Rethink (Bloomberg, 2/16/2026)WH adviser Hassett urges 'discipline' for Fed economists over tariff study (Associated Press, 2/18/2026)Hassett Attacks NY Fed for Study on Tariff Burden Hitting US (Bloomberg, 2/18/2026)Trump adviser says NY Fed economists should be ‘disciplined’ for publishing study on tariffs (Financial Times, 2/18/2026)Trump adviser Hassett suggests New York Fed researchers be punished for tariffs argument (Reuters News, 2/18/2026)Fed Minutes Show No Rush to Restart Rate Cuts (The New York Times, 2/18/2026)White House Economic Adviser Criticizes NY Fed Finding on Tariffs (The Wall Street Journal, 2/18/2026)Tariffs paid by midsized US firms tripled last year, new analysis from JPMorganChase Institute shows (Associated Press, 2/19/2026)Kashkari Rips Hassett Criticism of NY Fed Tariff Analysis (Bloomberg, 2/19/2026)Donald Trump’s tariffs exert heavy burden on midsized US companies (Financial Times, 2/19/2026)Top Fed official says White House is escalating its assault on central bank (Financial Times, 2/19/2026)Mentioned / linked in Andrew Ross Sorkin's Dealbook (The New York Times, 2/19/2026)U.S. Imports Grew in 2025, as Trump’s Tariffs Reshuffled Global Trade (The New York Times, 2/19/2026)