But large debt reductions are rare. Jamaica stands out for reducing its debt from 144 percent of GDP to 72 percent over the ...

In response to the Global Financial Crisis, central banks engaged in large-scale asset purchases funded by the issuance of reserves. These “unconventional” policies continued during the pandemic, so ...

We examine the repercussions of protectionist policies implemented in the United States since 2018 on the composition of workforce and career choices within the semiconductor industry. We find that ...

Combining data from the US Census and several early sources, we create a consistent measure of male and female employment and hours for the US for 1870-2019, including paid work and unpaid work in ...

Interest in central bank digital currencies (CBDCs) has been burgeoning with 134 countries now exploring its implementation. In December 2022, India started its CBDC pilot program to continue its ...

This paper combines new data and a narrative approach to identify shocks to political pressure on the Federal Reserve. From archival records, I build a data set of personal interactions between U.S.

This paper considers the interpretation of "Mincer rates of return." We test and reject the Mincer model. It fails to track the time series of true returns. We show how repeated cross section and ...

Forward-looking investments determine the resilience of firms' supply chains. Such investments confer externalities on other firms in the production network. We compare the equilibrium and optimal ...

This is a preliminary draft and may not have been subjected to the formal review process of the NBER. This page will be updated as the chapter is revised.

This is a preliminary draft and may not have been subjected to the formal review process of the NBER. This page will be updated as the chapter is revised.

This paper develops the empirical and theoretical case that differences in economic institutions are the fundamental cause of differences in economic development. We first document the empirical ...

We develop a theory of sorting across occupations based on looks and derive its implications for testing for the source of earnings differentials related to looks. These differentials are examined ...