This paper presents evidence suggesting that delayed Social Security claiming by husbands – resulting in an actuarially enhanced benefit – attenuates the financial shock of widowhood for their wives.

We measure benefits to households from Mumbai’s new Metro rail system. We estimate a commute mode choice model to value commute time savings in the short run and a housing choice model to value the ...

The Heterogeneous-Agent New Keynesian literature has revisited the transmission of monetary and fiscal policy to consumption using models where heterogeneous households face idiosyncratic income risk ...

We estimate transitory and permanent import tariff shocks in the United States over the postwar period. We find that transitory tariff increases are neither inflationary nor contractionary, and are ...

We use high-frequency retail microdata to measure the short-run impact of the 2025 U.S. tariffs on consumer prices. By matching daily prices from major U.S. retailers to product-level tariff rates and ...

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 ...

What are the effects of tariff changes and trade conflicts on the natural rate of interest? This article investigates this question, using a multicountry, heterogeneous-agent trade model in which the ...

The variety of financial products available for firms to raise funds has expanded rapidly in recent decades. This paper studies the role of innovations that introduce specialized financial products ...

We match patents to products using natural language methods applied to detailed product descriptions and patent texts in the consumer goods sector. While more than half of product innovations ...