We exploit a unique corpus of over 1,400 life narratives of older Americans collected by a team of writers during the 1930s. We combine detailed human readings with large language models (LLMs) to ...

Standard deficit accounting neglects the growth dividend: the amount by which annual GDP growth shrinks the debt-GDP ratio. America's growth dividend has more than doubled since the Great Recession ...

The US trade war against China in 2018–2019 can either enhance or diminish the US soft power in China, depending on whether it is recognized as legitimate by Chinese citizens. We study how the ...

Any fiscal path is sustainable if future fiscal policy responds sufficiently to high deficits. Previous work found that Congress reduced the deficit during 1984-2003 when projected deficits rose. We ...

Is the top tail of wealth a set of fixed individuals or is there substantial turnover? We estimate upper-tail wealth dynamics during the Gilded Age and beyond, a time of rapid wealth accumulation and ...

We investigate these dynamics for a food-as-medicine program to treat diabetes, where eligibility required elevated hemoglobin A1c (HbA1c). Both treatment and control groups experienced significant ...

We explore how socio-economic background shapes academia, collecting the largest dataset of U.S. academics’ backgrounds and research output. Individuals from poorer backgrounds have been severely ...

This article provides a concise narrative overview of the rapidly growing empirical literature on financial literacy and financial education. We first discuss stylized facts on the demographic ...

Researchers cannot definitively interpret what the framers of the United States Constitution had in mind when they wrote of the general Welfare. Nevertheless, welfare economics can contribute to ...

This chapter examines the multifaceted interactions between top digital platforms and technology ventures across capital, labor, innovation, and product markets. Exploring how venture investments, ...

This paper argues that unemployment insurance increases labor productivity by encouraging workers to seek higher productivity jobs, and by encouraging firms to create those jobs. We use a quantitative ...

In this study, we investigate whether reproductive rights affect migration. We do so using a synthetic difference-in-differences design that leverages variation from the 2022 Dobbs decision, which ...