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NBER Economy Full text
This paper studies whether and how distressed regions can recover from industrial decline. We exploit differences in access to an increasingly thriving Luxembourg labor market for neighboring residents of the French…
NBER Economy
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NBER Economy Full text
What ignited humanity’s momentous ascent from millennia of stagnation to an era of sustained economic growth? And what are the roots of the vast disparities in the wealth of nations? These enduring mysteries, which have…
NBER Economy Full text
Medical guidelines translate clinical evidence into treatment rules, but the evidence may identify treatment benefits more clearly than harms. We study anticoagulation for atrial fibrillation, combining randomized…
NBER Economy Full text
We examine the causal effect of uncertainty in property rights on housing prices and speculative behavior. We take advantage of a distinctive setting in Shenzhen, China, where neighboring residential units that are…
NBER Economy Full text
The impact of AI on the employment prospects of recent college graduates is hotly debated with no consensus on the magnitude of impacts nor even the timing of those potential impacts. Using CPS microdata, we provide the…
NBER Economy Full text
We study how business cycle fluctuations shape the pace and direction of innovation. Non-green innovation is procyclical, while green innovation is countercyclical, both over the cycle and in response to economic…
NBER Economy Full text
We identify a new channel for regulatory leakage: the “permitting channel”. In many settings, permits lock in the regulatory regime at approval, allowing firms to acquire the option to invest under current rules. Unlike…
NBER Economy Full text
We measure how artificial intelligence (AI) affects the economy through its impact on software engineering productivity. We use information from financial markets to develop a forward-looking measure that is available…
NBER Economy Full text
A large literature examines the economic and health returns to college education. We extend this literature by studying the upward intergenerational effects of children’s education on parental mortality. We exploit…
NBER Economy Full text
Remote work is often touted as a way for disabled and older workers to remain in the labour market. Post-Covid, the incidence of remote work has increased in the UK. Following Bloom et al. (2026), we test the effects of…
NBER Economy Full text
We use the euro cash changeover, a large-scale and purely nominal reform that requires all firms to redenominate posted prices, to distinguish among theories of price rigidity. We develop a nonstationary menu-cost model…
NBER Economy Full text
Emotional intelligence constitutes a key component of human capital, shaped partially by educational materials. Using machine learning and generative AI tools, we examine emotional content in public-school textbooks and…
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