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 ...

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 ...

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 ...

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 ...

Conventional empirical models of monetary policy transmission in emerging market economies produce puzzling results: monetary tightening often leads to an increase in prices (the price puzzle) and ...

The charter school movement encompasses many school models. In Massachusetts in the 2010’s, the site of our study, urban charter schools primarily used “No Excuses” practices, whereas nonurban ...

We introduce systematic tests exploiting robust statistical and behavioral patterns in trading to detect fake transactions on 29 cryptocurrency exchanges. Regulated exchanges feature patterns ...