China’s stock market greatly outperformed other national markets during the first several months of the COVID-19 pandemic, and it did so even before it became evident that early containment efforts ...

We examine the rise of dark shipping—oil tankers disabling AIS transceivers to evade detection—amid Western sanctions on Iran, Syria, North Korea, Venezuela, and Russia. Using a machine learning-based ...

Using surveys of households across thirteen countries, we study how much individuals would be willing to pay to eliminate business cycles. These direct estimates are much higher than traditional ...

To support this goal, the U.S. Patent and Trademark Office offers reduced fees for small and micro entities. This paper investigates whether fee rates affect the filing of applications by small and ...

Since temperature affects many individuals within a region simultaneously, these health impacts could lead to surges in healthcare demand that generate hospital congestion. Climate change will only ...

We study cost-price dynamics in normal times and during inflation surges. Using microdata on firms’ prices and production costs we construct an empirical measure of price gapsth ...

Scientific projects that carry a high degree of risk may be more likely to lead to breakthroughs yet also face challenges in winning the support necessary to be carried out. We analyze the ...

A near-catastrophic drought in Cape Town, South Africa illustrates three general implications of climate change for publicly-provided utility services. First, to reduce aggregate water demand, the ...

We begin by examining the fundamentals of monopsonistic wage determination. The core of the theory is a mapping from the distribution of worker outside options to wages. We study non-parametric shape ...

They find that while there is significant heterogeneity across countries, the reforms of recent decades have generally reduced the implicit tax on work at older ages. These changes correlate ...

This paper proposes that the adoption of the modern U.S. mortgage (i.e., low down payment, long-term, and fixed-rate)—led by the Federal Housing Administration (FHA) and Veteran’s Administration (VA) ...

Axel Börsch-Supan and Courtney Coile, editors. Employment among older men and women has increased dramatically in recent years, reversing a downward trend in the closing decades of the twentieth ...