Prior to around 2011, there was a pronounced curvilinear relationship between age and wellbeing: poor mental health was hump-shaped with respect to age, whilst subjective well-being was U-shaped. We ...

The conventional local projection (LP) confidence interval has correct coverage even when the misspecification is so large that it can be detected with probability approaching 1. This follows from a ...

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

This paper provides new survey evidence on firms’ inflation expectations in the euro area. Building on the ECB’s Survey on the Access to Finance of Enterprises (SAFE), we introduce consistent ...

Public health interventions often involve a trade-off between improving health and protecting individual rights. We study this trade-off in a high-stakes setting: prostitution regulations aimed at ...

Stock markets play a dual role: help allocate capital by conveying information about firms’ fundamentals and provide liquidity by quickly turning stocks into cash. We propose a trading model in which ...

Transportation infrastructure is vital for the smooth functioning of international trade. Ports are a crucial gateway to this system: with more than 80% of trade carried by ships, they shape trade ...

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 ...

Immigrants contribute disproportionately to entrepreneurship in many countries, accounting for a quarter of new employer businesses in the US. We review recent research on the measurement of immigrant ...

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 ...

A school finance equalization program established in Mississippi in 1920 failed to help many of the state's Black students – an outcome that was typical in the segregated U.S. South (Horace Mann Bond, ...

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 ...