This paper compares the impacts of critical mineral price and oil price on an economy in a unified neoclassical growth model. Unlike oil price shocks, which affect the cost of utilizing existing ...
We study the macroeconomic effects of tariff policy using U.S. historical data from 1840–2024. We construct a narrative series of plausibly exogenous tariff changes – based on major legislative ...
We examine how workers perceive the trade-offs of freelancing using a novel survey design that explores the nature of workers' perceptions of their own jobs and the implications of work arrangements ...
Using new data from the Gallup Workforce Panel, we document a persistent partisan gap in self-reported AI use at work: ...
We establish three facts about work from home (WFH) in the United States. First, employees WFH more often at younger firms – almost twice as often at firms founded after 2015 than at firms founded ...
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 ...
In addition to working papers, the NBER disseminates affiliates’ latest findings through a range of free periodicals — the NBER Reporter, the NBER Digest, the Bulletin on Health, and the Bulletin on ...
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 ...
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 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, ...
Commodity prices are back. This paper looks at connections between monetary policy, and agricultural and mineral commodities. We begin with the monetary influences on commodity prices, first for a ...
Following the Great Financial Crisis (GFC), the Credit Risk Transfer (CRT) bond market emerged as a new asset class in U.S. mortgage market. We develop an asset pricing framework for CRTs consistent ...