Some US defined contribution plans offer retirees access to an annuity or lifetime income stream as payout options from their 401(k) accounts. Nevertheless, for behavioral reasons, some retirees may ...

The Development of the American Economy (DAE) program was one of the first research programs launched by Martin Feldstein in 1978 when he formalized the modern structure of the NBER. The mission of ...

This paper analyzes 630,000 paintings from 1400 onward to uncover how visual art reflects its socioeconomic context. We develop a learning algorithm to predict nine basic emotions conveyed in each ...

Wade and triggering laws in many states that ban or severely restrict abortions, the Supreme Court’s landmark 2022 Dobbs decision dramatically altered the landscape for reproductive health in the U.S.

We develop and quantify a novel growth theory in which economic activity endogenously shifts from material production to quality improvements. Consumers derive utility from goods with differing ...

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 ...

In 2015, the City University of New York (CUNY) launched a new program— Accelerate, Complete, and Engage (ACE)—aimed at improving college graduation rates. A randomized-control evaluation of the ...

Forthcoming: Tapping Business and Household Surveys to Sharpen Our View of Work from Home, José Maria Barrero, Nicholas Bloom, Kathryn Bonney, Cory Breaux, Catherine Buffington, Steven J. Davis, Lucia ...

We develop a quantitative New Keynesian DSGE model with monopolistic banks to study the macroeconomic effects of introducing a central bank digital currency (CBDC). Households benefit from an ...

We estimate the causal impacts of immigration to U.S. cities on the intergenerational economic mobility of children of U.S.-born parents. Immigration raises the educational attainment and earnings ...

Small businesses have long supplied a disproportionate share of major innovations in the United States. We review a centerpiece policy on this topic: the US Small Business Innovation Research (SBIR) ...

We study common ownership in 49 countries from 2005 to 2019 and show that it is pervasive and rising around the world. However, despite this global growth, common ownership is still considerably lower ...