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 ...

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 ...

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.

We evaluate a firm’s unusual, worker-centered, solution to the agency problem: enabling employees to reduce the cost of effort rather than pushing them with performance rewards. We randomize the ...

We present evidence that noisy financial flows influence financial conditions and macroeconomic activity. How should monetary policy respond to this noise? We develop a model where it is optimal for ...

The Tax Cuts and Jobs Act eliminated federal charitable giving incentives for roughly 20 percent of US income-tax payers. We study the impact of this on giving. Basic theory and our empirical results ...

Browser data from an approximately representative sample of individual investors offers a detailed account of their search for information, including how much time they spend on stock research, which ...

We highlight the role of duration and exchange rate risks on portfolio flows by using a unique and comprehensive database of US investor flows into emerging market government bonds denominated in ...

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 ...

The motherhood penalty is well-documented, but what happens at the other end of the reproductive spectrum? Menopause—a transition often marked by debilitating physical and psychological symptoms—also ...

Emerging markets face large and persistent fluctuations in sovereign spreads. To what extent are these fluctuations driven by local shocks versus financial conditions in advanced economies? To answer ...