The Development of the American Economy (DAE) program was one of the first research programs launched by Martin Feldstein in ...

This summary reviews our recent work on detecting and tackling collusive behavior in procurement auctions. Historically, antitrust agencies have taken a reactive approach to cartels, initiating ...

This disagreement reflects a 60-year history of misapplication of the neoclassical theory of investment to interpret empirical work and guide policy analysis. In this article I reconsider the ...

A college degree offers a pathway to economic mobility for low-income students. Using a multi-site randomized controlled trial combined with administrative and survey data, we demonstrate that ...

Social desirability bias (SDB) is a pervasive threat to the validity of survey and experimental data. Respondents might often misreport sensitive attitudes and behaviors to appear more socially ...

Using a regression discontinuity design and administrative data, we study a Danish policy that cut welfare benefits for refugees, increasing crime among affected individuals. Linking refugees to ...

We develop and quantify a novel growth theory in which economic activity endogenously shifts from material production to quality improvements. Consumers derive utility from goods with differing ...

In recent years, field experiments have reshaped policy worldwide, but scaling ideas remains a thorny challenge. Perhaps the most important issue facing policymakers today is deciding which ideas to ...

We build a tractable general equilibrium model to analyze the effects of cross-border data flows and pre-existing development gaps in digital economies on each country’s production and international ...

U.S. and European banking institutions were hit by a wave of distress in March 2023. Policymakers on both sides of the Atlantic reacted with an array of interventions, some targeting individual ...

We find that an unanticipated tightening of US monetary policy tends to raise US import prices. This empirical “spill-back” pattern differs from the predictions of typical open-economy macro models.

The Mussa (1986) puzzle is the observation of a sharp and simultaneous increase in the volatility of both nominal and real exchange rates following the end of the Bretton Woods System of pegged ...