Wenxin Du, Ritt Keerati, and Jesse Schreger document a pronounced divergence between the convenience yields on the US dollar and US Treasury securities since the early 2010s. The convenience yield—the ...

This paper uses the context of the shrinking Great Salt Lake in Utah to model air quality impacts of the highly erodible and growing area of exposed lakebed. Using four common identification ...

This paper estimates the effects of early academic rank in elementary school on later cognitive and noncognitive outcomes in the context of Mexico. We use linked administrative records to compare ...

This paper studies the role of economic participation via the labor market in enabling the political mobilization of an underrepresented group. Specifically, we study the wives and daughters of ...

Why did U.S. manufacturing productivity stop growing after 2010? Productivity growth disappeared, evaporating from an annual rate of +3.3 percent during 1987-2010 to -0.3 percent from 2010 to 2023.

Using a novel dataset covering the complete history of individual-level web traffic and digital subscriptions from a major metropolitan newspaper in the United States between 2020 and 2024, we ...

We construct a new long-run series of subjective expected equity returns from an independent equity analysis firm, spanning 1956-2024. These expected returns are strongly positively correlated with ...

This limits cumulative knowledge building and blurs how deep-tech innovation relates to adjacent concepts. We address this gap by developing a framework that treats deep-tech innovation as a distinct ...

This paper estimates the rate of return to the High/Scope Perry Preschool Program, an early intervention program targeted toward disadvantaged African-American youth. Estimates of the rate of return ...

This paper provides the first systematic analysis of the link between economic, political, and social conditions and the global phenomenon of ISIS foreign fighters. We find that poor economic ...

This paper examines the robustness of explanatory variables in cross-country economic growth regressions. It employs a novel approach, Bayesian Averaging of Classical Estimates (BACE), which ...

We describe changes over time in inequality in postsecondary education using nearly seventy years of data from the U.S. Census and the 1979 and 1997 National Longitudinal Surveys of Youth. We find ...