We document and characterize a new history of U.S. federal-level industrial policies by scanning all 12,167 Congressional ...

Traditional valuation metrics for the U.S. stock market based on a comparison of the aggregate market value of U.S. corporations to measures of dividends, earnings, output, and the replacement cost of ...

This paper explores the effects of one nation's taxation of consumption on the welfare of future generations of other countries. To do this, it presents an otherwise standard one-good, two-country ...

Adult Black men persistently do not report to household-based surveys, with demographers estimating non-reporting rates of 7-14% from 1970-2020. We derive a method to account for incomplete data and ...

We investigate the dynamics of household deposits using account-level data from 12 million accounts across 154 U.S. credit unions. Significant skewness in the retail deposit distribution–with 10% of ...

This paper examines the sharp decline in fertility across Latin America using both period and cohort measures. Combining Vital Statistics, Census microdata, and UN population data, we decompose ...

This paper discusses a fundamental problem in measuring the growth of knowledge and comparing the skills of people. New skills emerge that are not just more of the previously acquired skills.

In 2018, the US launched a trade war with China, an abrupt departure from its historical leadership in integrating global markets. By late 2019, the US had imposed tariffs on roughly $350 billion of ...

We use Chinese customs data to show that unofficial non-tariff barriers were responsible for 50\% of the overall reduction in Chinese imports from the U.S. during the height of the U.S.-China trade ...

The Trump Administration's tariffs created a wedge between mutually beneficial trades between China's producers and U.S. consumers. Moving production to nearby Vietnam allows firms to jump the tariff ...

We argue that trade in intermediate inputs, or 'global production sharing,' is a potentially important explanation for the increase in the wage gap between skilled and unskilled workers in the U.S.

This paper combines national accounts, survey, wealth and fiscal data (including recently released tax data on high-income taxpayers) in order to provide consistent series on the accumulation and ...