Current technological developments in a number of industries, such as the rise of artificial intelligence and innovations ...

In addition to working papers, the NBER disseminates affiliates’ latest findings through a range of free periodicals — the ...

During academic year 2024-25, the NBER is providing fellowship support for graduate students studying the economics of aging and health, behavioral macroeconomics, and consumer financial management.

Using natural language processing, we identify corporate goals stated in the shareholder letters of the 150 largest companies in the United States from 1955 to 2020. Corporate goals have proliferated, ...

The U.S. net foreign asset position has declined sharply since 2007 and is currently negative 65 percent of U.S. GDP. This deterioration primarily reflects a U.S.-specific rise in corporate asset ...

The price of a safe asset reflects not only the expected discounted future cash flows but also future service flows, since retrading allows partial insurance of idiosyncratic risk in an incomplete ...

We study the effects of debt-financed fiscal transfers in a general equilibrium, heterogeneous-agent model of the world economy. In the long run, increases in government debt anywhere raise the world ...

This paper considers why fertility has fallen to historically low levels in virtually all high-income countries. Using cohort data, we document rising childlessness at all observed ages and falling ...

Top income inequality in the United States has increased considerably within occupations. This phenomenon has led to a search for a common explanation. We instead develop a theory where increases in ...

We estimate transitory and permanent import tariff shocks in the United States over the postwar period. We find that transitory tariff increases are neither inflationary nor contractionary, and are ...

Child maltreatment is a major public health concern in the United States. Maltreatment is associated with a range of poor health, developmental, and economic outcomes for child victims. In this study, ...

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