We study the optimal design of trade and industrial policy when governments pursue environmental objectives alongside traditional national welfare. Motivated by the global transition to electric ...

Artificial intelligence (AI) reshapes workers’ comparative advantage by altering the tasks they perform and the skills those tasks require. We develop a dynamic task-based model to quantify the ...

Using restricted Census business records, I explore how banning affirmative action in state contracting affects minority- and women-owned business enterprises (MWBEs). I find that ending affirmative ...

We consider a model of automation embedded in a political environment where workers can undertake a revolt (modeled as a global game), and greater inequality between capital and labor increases the ...

This paper investigates why the widely-used Big Three financial literacy index provides a reliable measure of financial literacy. Using an Item Response Theory framework, we estimate item difficulty ...

Risk adjustment is a payment mechanism, not only a prediction problem. I extend optimal risk adjustment to dynamic insurance markets in which plans capture future residuals from persistent risk. Under ...

We study the relationship between management, multinational expansion, and risk premia. We document two facts: firms run by better managers are more likely to become multinationals (MNEs), and risk ...

Existing studies show that high school counselors can significantly influence students' graduation rates and college enrollment; less is known about their ability to direct students toward particular ...

In addition to working papers, the NBER disseminates affiliates’ latest findings through a range of free periodicals — the NBER Reporter, the NBER Digest, the Bulletin on Health, and the Bulletin on ...

We estimate the effect of PM₂.₅ pollution on migration between commuting zones in the United States from 2005-2019. To account for the correlation between origin and destination commuting zones’ ...

Great powers, like the United States and China, use existing trade and financial linkages of their economies to the rest of the world to exert geoeconomic power. The targeted entities include both ...

This paper explores the relationship between standard labor market tightness (vacancies divided by unemployment) and generalized labor market tightness (vacancies divided by a measure of effective ...