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, ...

We characterize a planner's optimal allocation of consumption and capital in an overlapping generations model with exogenous government purchases, privately-observed idiosyncratic shocks to the ...

Advances in artificial intelligence (AI) highlight its potential to affect productivity, growth, inequality, market power, innovation, and employment. This volume seeks to set the agenda for economic ...

The COVID-19 pandemic led to unprecedented levels of federal transfers to state governments. Did this funding increase benefit incumbent politicians electorally? Identifying the effect of revenue ...

Green finance emphasizes “additionality,” meaning funded projects should offer distinct environmental benefits beyond standard practice. Analysis of U.S. corporate and municipal green bonds, however, ...

There is a rapidly advancing literature on the macroeconomics of climate change. This review focuses on developments in the construction and solution of structural integrated assessment models (IAMs), ...

Their adoption of these overlooked patents is associated with a 6.4% rise in sales growth (t = 3.02), a 2.2% increase in Tobin’s Q (t = 3.91), and a 2.2% increase in new product offerings (t = 2.97).

Parenting is widely considered to be among the most important influences on early childhood (EC) development. But to what extent and under what circumstances can EC parenting programs improve child ...

We argue that workers must take costly actions (“conflict”) to have nominal wages catch up with inflation, meaning there are welfare costs even if real wages do not fall as inflation rises. We study a ...

We examine the distributional consequences of trade using the New World Grain Invasion that occurred in the second half of the 19th century. We use a newly-created dataset on population, employment by ...