We document and characterize a new history of U.S. federal-level industrial policies by scanning all 12,167 Congressional Acts and 6,030 Presidential Orders from 1973 through 2022. We find several ...

This paper estimates that the macroeconomic damages from climate change are an order of magnitude larger than previously thought. Exploiting natural global temperature variability, we find that 1°C ...

Science, Technology, Engineering, and Math (STEM) jobs are a key contributor to economic growth and national competitiveness. Yet STEM workers are perceived to be in short supply. This paper shows ...

This paper studies inequality in America through the lens of distributional macroeconomic accounts—comprehensive distributions of the aggregate amount of income and wealth recorded in the official ...

We investigate several possible links between psychological factors and trading performance in a sample of 80 anonymous day-traders. Using daily emotional-state surveys over a five-week period as well ...

We explain how the “Tariff War” shock of April 2025 affected the safe-asset status of US Treasuries. Convenience yield erosion for long bonds is consistent with a reduction in the hedging property, ...

Despite a large earnings premium for bachelor’s degree completion in general, graduates from low-income families earn substantially less than graduates from high-income families. While prior research ...

We argue that the relative price of materials is an important determinant of the labor share of income. When materials and primary inputs are complements and the profit share is positive, a higher ...

Yet they can also serve domestic political ends. This paper studies how Russia’s escalations against Ukraine reshaped support for the regime and redistributed the burdens of war across the population.

We study consumer demand for savings, life insurance, annuities, and long-term care insurance using novel survey data and a structural life-cycle model. We document that individuals perceive ...

As part of the comprehensive Construction Re-engineering Initiative at the U.S. Census Bureau, alternative data sources are being considered to supplement or replace current data collection methods.

Stable Are LLM Occupational Exposure Scores? Evidence from Multi-Model Replication," NBER Working Paper 35110 (2026), ...