Housing prices across much of America have hit historic highs, while less housing is being built. If the U.S. housing stock had expanded at the same rate from 2000-2020 as it did from 1980-2000, there ...

What should applied macroeconomists know about local projection (LP) and vector autoregression (VAR) impulse response estimators? The two methods share the same estimand, but in finite samples lie on ...

In this paper, we establish a causal connection between two of the most salient social developments in the United States over the past decades: the opioid epidemic and the political realignment ...

Racial differences in mortality are large, persistent and likely caused, at least in part, by racism. While the causal pathways linking racism to mortality are conceptually well defined, empirical ...

Trade and industrial policies, while primarily intended to support domestic industries, may unintentionally stimulate technological progress abroad. We document this mechanism in the case of rare ...

We provide new evidence using a matched difference-in-differences design in rich administrative data from New Zealand. While most outcomes remain stable prior to separation, parents' mental health ...

We investigate how advisors’ own health and survival assessments, and information about their advisees’ health and survival probabilities, shape their recommendations regarding retirement spending and ...

We argue that issuers' choice of arbitrage concentration reflects a tradeoff: efficient arbitrage improves stablecoin price stability in secondary markets, but amplifies run risks by reducing ...

We explore changes in product quality during France’s major liberalization episode of the mid-nineteenth century. Using new data and existing techniques from the international trade literature, we ...

Most S&P 500 corporations disclose that their profits depend on non-wage competition for worker talent via workplace amenities like work-life balance. We quantify this dependence using a labor market ...

We propose a method to correct estimates from historical linked data for bias arising from type-I error—"false matches." We estimate the rate of false matching from the disagreement rate in ...

Little is known about the extent and drivers of information flow within couples, and whether spouses hold aligned expectations about the same outcomes. To provide new evidence, we conduct an online ...