This volume analyzes the responses of students, families, and the financial managers of higher education institutions to these challenges. It presents new insights on the substantial disparities in ...

We study the labor market effects of tenure-dependent severance pay systems that tie firing costs to workers’ accumulated earnings histories. We develop an overlapping-generations search-and-matching ...

The researchers also estimate a dynamic model of competition between banks, postulating that depositors alternate randomly between periods of “sleeping,” when they do not consider changing banks, and ...

The worsening mental health of young workers in the United States drives the disappearance of the U-shape in wellbeing and the hump-shape in illbeing in the last decade. Illbeing declines in age among ...

This paper studies the critical but underexplored role of subcontracting in shaping the spatial and firm-level effects of federal government spending. Using newly available data on defense subcontract ...

This short note computes Trade Restrictiveness Index measures for current U.S. trade policy. Building on the ideas of Anderson and Neary (1996, 2005), the Trade Restrictiveness Index is the uniform ...

We measure how frontier research frames what is normatively at stake along the efficiency and equity dimension. We develop and validate an LLM-based measurement pipeline and apply it to 27,464 ...

Structural economic models, while parsimonious and interpretable, often exhibit poor data fit and limited forecasting performance. Machine learning models, by contrast, offer substantial flexibility ...

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A large literature has documented widespread variation in health care spending per capita across areas of the United States without correspondingly better health outcomes. Recent work has used mover ...

We argue that the rapid asset growth of nonbank financial intermediaries (NBFIs) relative to banks is the outcome of transformations of risks between banks and NBFIs that increase the ...

Using surveys and administrative data from representative samples of drivers working on three leading gig platforms in India, Indonesia, and Kenya, we document the composition, economic experiences, ...