In early April, following his Senate confirmation, Jay Bhattacharya, a Professor of Medicine at the Stanford Medical School, ...

We elicited over a million stated preference choices over 126 dimensions or “aspects” of well-being from a sample of 3,358 respondents on Amazon’s Mechanical Turk (MTurk). Our surveys also collected ...

The COVID business cycle was unique. The recession was by far the deepest and shortest in the U.S. postwar record and the recovery was remarkably rapid. The cycle saw an unprecedented reallocation of ...

To study the causal role of income on children’s development, the Baby’s First Years randomized control trial provided families with monthly unconditional cash transfers. One thousand racially and ...

We review recent research and experiences linking inflation and expectations, emphasizing what has been learned since 2020. One clear lesson is that the inflation expectations of most economic agents ...

The canonical example of unprotected speech—falsely shouting “fire” in a crowded theatre—presumes such an act inevitably causes harmful panic. This paper challenges that presumption through a ...

In this paper we investigate the impact of mask mandates in schools on COVID spread. We use event study and difference-in-differences models that exploit the removal of mask mandates in districts ...

We document the structural transformation of innovation using historical patent data since the 1850s, along with R&D expenditure and TFP growth for the post-war period. Over time, innovation has ...

Conditionality can prevent poor households from receiving cash transfers. Re-analyzing five randomized evaluations of conditional cash transfers, we find: (1) non-compliers — households that do not ...

Our identification strategy is based on the exogenous rotation of voting rights among Reserve Banks and on within borrower-time and district-time variation in DW loans and Federal Home Loan Bank (FHLB ...

For example, killing enemy combatants may create martyrs, while targeting civilians may lower their pro-war morale. We solve this problem by leveraging a natural experiment in Japan in which military ...

Influenza causes substantial illness and healthcare utilization among children. Randomized clinical trials (RCTs) demonstrate that the influenza vaccine reduces influenza illness detectable via active ...