The Development of the American Economy (DAE) program was one of the first research programs launched by Martin Feldstein in ...

We show long-term Treasury convenience yields are more sensitive to changes in Treasury supply than short-term Treasury convenience yields. The fiscal expansion in the past two decades and the ...

A smaller human population would emit less carbon, other things equal, but how large is the effect? Here we test the widely-shared view that an important benefit of the ongoing, global decline in ...

An extensive literature identifies the differential impact of immigration on natives employed in jobs that are more exposed to immigrant labor (supply exposure). But immigrants consume in addition to ...

We consider the impact of these hours requirements on students and postsecondary institutions, with a particular focus on cosmetology (also known as hairstyling or beauty). Cosmetology licensing ...

We develop a model of strategic information provision where politicians choose how to allocate limited disclosure across multiple policy dimensions. Citizens are heterogeneous statistical learners who ...

Using unique small group market (SGM) data with detailed claims and enrollment information, we analyze the welfare gains across households in the SGM from alternative formulations of ACA health ...

Using data from the National Health Interview Survey (NHIS), we construct two measures of the longevity of older wives and husbands. For definiteness, we focus on couples in which the wife was 60 and ...

Early twentieth century efforts to overhaul the quality of medical education in the United States (principally between 1905 and 1915 – the “Flexner Report Era”) led to a steep decline in the number of ...

Macro shocks produce high dispersion in firm-level equity returns, sales growth, and other outcomes. We show that this dispersion reflects observable differences in business characteristics. To do so, ...

This summary reviews our recent work on detecting and tackling collusive behavior in procurement auctions. Historically, antitrust agencies have taken a reactive approach to cartels, initiating ...

This disagreement reflects a 60-year history of misapplication of the neoclassical theory of investment to interpret empirical work and guide policy analysis. In this article I reconsider the ...