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 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 ...

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 ...

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 ...

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 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 ...

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

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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 investigates how innovation responded to and shaped the economic impact of the American Dust Bowl, an environmental catastrophe that led to widespread soil erosion on the US Plains during ...

In a model with realistic risk premia, nominal rigidities, and an intermediary sector, calibrated to the U.S., we estimate this threshold at 189%. We highlight the roles of safety premia and ...

Leading AI firms claim to prioritize social welfare. How should firms with a social mandate price and deploy AI? We derive pricing formulas that depart from profit maximization by incorporating ...