Because interest rates rise with debt, borrowers have increasingly larger incentives to use an additional dollar to reduce debt service payments rather than consume. Using our calibrated model, we ...

We study how Elon Musk's polarizing and partisan actions have impacted Tesla vehicle sales in the United States. Using county-level, monthly data on new vehicle registrations, we leverage how changes ...

To illustrate this point, we construct the first database of annual US statutory tariffs from 1972 to 1988 and use it to explore the consequences of liberalization in the years spanning the Tokyo ...

We investigate the relationship between interstate highways and highway vehicle kilometers traveled (VKT) in US cities. We find that VKT increases proportionately to highways and identify three ...

In The Extraordinary Rise in the Wealth of Older American Households (NBER Working Paper 34131), Edward N. Wolff documents changes in age-wealth profiles in the US between 1983 and 2022. Using data ...

This paper examines the effects of tariffs along the supply chain using product-level data from a large U.S. wine importer in the context of the 2019-2021 U.S. tariffs on European wines. By combining ...

John Leahy and Casey Mulligan. NBER Research Associates John Leahy and Casey Mulligan have been tapped for new roles in the ...

This chapter explores the long-run implications of Artificial General Intelligence (AGI) for economic growth and labor markets. AGI makes it feasible to perform all economically valuable work using ...

NBER conferences are by invitation. All participants are expected to comply with the NBER's Conference Code of Conduct.

We develop a conceptual framework to highlight the role of ideas as a catalyst for policy and institutional change. We make an explicit distinction between ideas and vested interests and show how they ...

This paper explores similarities and differences between the run-up of oil prices in 2007-08 and earlier oil price shocks, looking at what caused the price increase and what effects it had on the ...

Output per worker varies enormously across countries. Why? On an accounting basis, our analysis shows that differences in physical capital and educational attainment can only partially explain the ...