Discover how search theory illuminates market frictions, affecting employment, pricing, and transactions. Learn its applications across different economic contexts.

When gasoline is expensive, people grumble that big oil companies like Chevron and ExxonMobil are colluding to keep prices high. They’re wrong. The best way to understand why businesses aren’t ...

I n the epilogue of their blockbuster book Mostly Harmless Econometrics (2009), Josh Angrist and Steve Pischke write, “If applied econometrics were easy, theorists would do it.” As academic jokes go, ...

Discover the Austrian School of Economics, its key principles, major contributors like Menger and Hayek, and its influence on economic thought and policy today.

Economic uncertainty, like we are living through right now, can make regular purchasing decisions challenging. Even more so decisions around big life moments, like changing your job, buying a house or ...

Dr. Furman, a contributing Opinion writer, is a professor of the practice of economic policy at Harvard University and was chairman of the White House Council of Economic Advisers from 2013 to 2017.

Keynesian economics is a theory whose premise is that aggregate demand is a primary driver of the economy and employment. Keynesian economics is an economic theory, and the basic premise is that ...

Congress has authorized $6 trillion in deficit spending to defeat the coronavirus. That’s more than the United States spent fighting World War II, when $4 trillion of government spending released the ...