This paper quantifies the effects of large-scale deportations on wages, prices, and real incomes in the United States. We impute the legal status for each worker in the American Community Survey by ...

Using new data from the Gallup Workforce Panel, we document a persistent partisan gap in self-reported AI use at work: ...

This paper uses microdata on U.S. mutual fund and ETF portfolios from SEC Form NPORT to study American investment in Chinese Renminbi (RMB)–denominated bonds. We show that, even as total foreign ...

We analyze real returns on U.S. and U.K. government debt during major wars and the COVID-19 pandemic over the past three centuries. Wars are associated with sharply negative real returns on ...

We study residential segregation and access to public services across 1.5 million urban and rural neighborhoods in India. Muslim and Scheduled Caste segregation in India is high by global standards, ...

With the diffusion of LLMs between 2022 and 2025, new book releases have tripled, raising a question of AI's impact on book quality. We develop a ratings-based usage measure that is comparable across ...

Machine learning systems embed preferences either in training losses or through post-processing of calibrated predictions. Applying information design methods from Strack and Yang (2024), this paper ...

Against a backdrop of sharply rising inequality, the Tokyo Round of the GATT resulted in a 1.6 percentage point reduction in average US tariffs – larger than CUSFTA, NAFTA, and the liberalization ...

Technologies such as electricity, semiconductors, and the internet have been transformative, reshaping economic activity and dramatically increasing living standards throughout the world. In some ...

We examine how workers’ and non-workers’ wellbeing varies by age across 171 countries in eight international surveys. In 103 countries (60%) we find evidence that workers’ wellbeing rises with age and ...

We demonstrate that depositor inattention gives rise to banks’ deposit market power. Using transaction-level data on millions of U.S. depositors, we document that unscheduled income remains in ...

We survey recent research on changing culture and social norms in developing countries and propose a simple framework to interpret these changes. We conceptualize individual utility from a given ...