We study the optimal design of corporate tax policy in a textbook life-cycle model featuring two key deviations: (i) firms are imperfectly competitive and (ii) households save by purchasing equity ...

We estimate causal effects of 121 graduate degrees on log earnings. The returns average 0.159 but vary widely across fields, with a standard deviation of 0.176. Experience profiles of the returns also ...

Recent empirical research shows that air pollution harms student test scores and attendance and increases office discipline referrals. However, the mechanism by which air pollution operates within ...

This study investigates how occupational AI exposure impacts employment at the intensive margin, i.e., the length of workdays and the allocation of time between work and leisure. Drawing on individual ...

We estimate intergenerational mobility of immigrants and their children in fifteen receiving countries. We document large income gaps for first-generation immigrants that diminish in the second ...

Housing expense inflation has historically averaged an annual growth rate of 3.0 percent. However, starting in early 2021 housing expense inflation surged, peaking at 8.2 percent by March 2023.

Doidge, Karolyi, and Stulz (2017) show that from 1999 to 2012 the US develops a listing gap relative to other countries, meaning that it has abnormally few publicly listed firms. In this paper, we ...

Using a randomized control trial, this paper studies an at-scale preschool construction program that serves poor communities in rural Mozambique. We show that the program significantly increased ...

Technological advances and genomic sequencing opened the road to personalized medicine: specialized therapies targeted to patients displaying specific molecular alterations. For instance, targeted ...

Many governments and businesses would like to minimize or eliminate the greenhouse gases that result from their purchases of power from electricity grids. Because electricity flows cannot be traced ...

We evaluate the effectiveness of randomized interventions aimed at alleviating psychological barriers (maternal stress and difficulty visualizing the future) and addressing information frictions on ...

We examine sorting behavior across metropolitan areas by skill over individuals’ life cycles. We show that high-skill workers disproportionately sort into high-amenity areas, but do so relatively ...