Darrick Hamilton and Barry Melancon. Hamilton will represent the American Federation of Labor and Congress of Industrial ...

Over sixty years ago in 1964, the launch of the War on Poverty represented one of the largest and most comprehensive attempts ...

2025, Long-Term Asset Management, Ishita Sen, "The Market for Sharing Interest Rate Risk: Quantities and Asset Prices" ...

In addition to working papers, the NBER disseminates affiliates’ latest findings through a range of free periodicals — the ...

We study the positive (not normative) effect of a permanent import tariff on trade deficits. We consider a two-period trade model with general preferences and technology. We first develop an ...

Taking into account the recessionary effect of tariffs dramatically brings down the optimal unilateral tariff level derived in standard trade theory.

Amid rising global interest in state interventions, this paper examines how China’s infrastructure investments—a key macroeconomic policy tool—affect firm productivity. We focus on a policy that ...

Recent policy proposals seek to regulate out-of-network hospital prices. We study how such regulation affects equilibrium prices, network formation, and hospital exit. We estimate a structural model ...

This paper examines how power lawyers shape judicial and economic outcomes by studying the “revolving door” between judges and lawyers in China’s judicial system—namely, former judges who quit the ...

Firm location decisions are a key managerial choice, usually optimized over factors like proximity to customers or suppliers. These decisions may also impose externalities on the environment, and on ...

U.S. labor-force participation dropped by about 3 percentage points and remained below pre-pandemic levels three years later. Recovery varied across states, with slower rebounds in those more affected ...

In such cases, statistical inference is complicated by the interdependence of economic outcomes across locations. A common approach to account for this dependence is to cluster standard errors based ...