Natality Data from the National Vital Statistics System of the National Center for Health Statistics provides demographic and health data for births occurring during the calendar year. The microdata ...

Black mothers with unscheduled deliveries are 25 percent more likely to deliver by C-section than non-Hispanic white mothers. The gap is highest for mothers with the lowest risk and is reduced by only ...

We propose uncertainty shocks as a new shock that drives business cycles. First, we demonstrate that microeconomic uncertainty is robustly countercyclical, rising sharply during recessions, ...

R&D spillovers are, potentially, a major source of endogenous growth in various recent "New Growth Theory" models. This paper reviews the basic model of R&D spillovers and then focuses on the ...