To investigate the emergence of a pro-wealthy bias in the US Supreme Court, we develop a protocol to identify and analyze all cases involving economic issues from 1953 to the present. We categorize ...

In Then and Now: A Look Back and Ahead at the Federal Budget (NBER Working Paper 34455), Alan J. Auerbach and William Gale develop fiscal projections that incorporate the recently enacted One Big ...

Why do people sometimes overreact to new information and other times underreact? We develop a model in which the strength of ...

This choice determines the payment-chain network and aggregate total-factor productivity (TFP). The paper characterizes ...

How does the fiscal framework affect the central bank's ability to stabilize output and inflation? The textbook answer, which assumes Ricardian households, recommends that fiscal adjustment should be ...

We examine the impact of the European Union’s Sustainable Finance Disclosure Regulation (SFDR) on mutual fund flows and investment sustainability. The SFDR classifies funds into three categories to ...

The CHIPS and Science Act, enacted in August 2022, is a key element of the revival of U.S. industrial policy. We examine the short-term employment effects of the act. Drawing on quarterly ...

The global expansion of renewable energy is key to addressing climate change. After a decade of dramatic cost reductions—especially for solar photovoltaics and wind—renewables now approach cost parity ...

We construct a new dataset of FOMC meeting transcripts from 1966 to 1990 to analyze the sources of heterogeneity in individual monetary policy preferences and study how this heterogeneity shapes ...

We study international spillovers of corporate tax reforms in a fragmented global tax regime. Using firm-level evidence on the 2017 U.S. Tax Cuts and Jobs Act (TCJA) and a quantitative ...

Employing large language models to analyze official documents, we construct a comprehensive record of daily changes in de jure restrictions on cross-border flows worldwide since the 1950s. Our ...

Extreme temperatures threaten agriculture and exacerbate global food insecurity, yet their direct impact on dietary choices remains poorly understood. We provide novel evidence of how short-term ...