Variation in the quality of financial accounting reporting can explain more than 10 percent of the dispersion in productivity across private US firms.

We estimate income and taxes for the wealthiest group of US households by matching Forbes 400 data to the individual, business, estate, and gift tax returns of the corresponding group in 2010–2020. In ...

This paper compares the impacts of critical mineral price and oil price on an economy in a unified neoclassical growth model. Unlike oil price shocks, which affect the cost of utilizing existing ...

We use newly available, and externally validated, administrative data containing all US Immigration and Customs Enforcement (ICE) arrests from September 2015-October 2025. Beyond demonstrating ...

We study the macroeconomic effects of tariff policy using U.S. historical data from 1840–2024. We construct a narrative series of plausibly exogenous tariff changes – based on major legislative ...

Does generative artificial intelligence (AI) reinforce or reduce productivity differences across workers? Existing evidence largely studies AI within firms and occupations, where organizational ...

Bank failures can stem from runs on otherwise solvent banks or from losses that render banks insolvent, regardless of withdrawals. Disentangling the relative importance of liquidity and solvency in ...

We examine how workers perceive the trade-offs of freelancing using a novel survey design that explores the nature of workers' perceptions of their own jobs and the implications of work arrangements ...

Two recent studies construct new datasets to estimate the social and private returns to infrastructure investment in EMDEs. The researchers find that the median social rate of return to building an ...

The structure of US international trade has undergone a dramatic transformation since 2018 when the US began imposing substantial tariffs targeting Chinese imports. This trade policy shift, combined ...

We establish three facts about work from home (WFH) in the United States. First, employees WFH more often at younger firms – almost twice as often at firms founded after 2015 than at firms founded ...

With the diffusion of LLMs between 2022 and 2025, new book releases have tripled, raising a question of AI's impact on book quality. We develop a ratings-based usage measure that is comparable across ...