They find that while there is significant heterogeneity across countries, the reforms of recent decades have generally reduced the implicit tax on work at older ages. These changes correlate ...

The posterior means define a class of shrinkage estimators, indexed by hyperparameters that determine the relative weight on maximum likelihood estimates and prior means. In a Bayesian setting, it is ...

We examine whether genome-wide summary measures of genetic risk known as polygenic indices (PGIs) provide new insights into the efficacy of the Lung Health Study (LHS)–a large, randomized controlled ...

How well they perform this role, however, depends on their ability to recruit and retain talented faculty who have alternative options in industry; moreover, such allocation of talent in academia vs.

Liquidity provision is often attributed to debt-issuing intermediaries like banks. We develop a unified theoretical framework and empirically show that mutual funds issuing demandable equity also ...

Using surveys of households across thirteen countries, we study how much individuals would be willing to pay to eliminate business cycles. These direct estimates are much higher than traditional ...

Scientific projects that carry a high degree of risk may be more likely to lead to breakthroughs yet also face challenges in winning the support necessary to be carried out. We analyze the ...

China’s stock market greatly outperformed other national markets during the first several months of the COVID-19 pandemic, and it did so even before it became evident that early containment efforts ...

We examine the rise of dark shipping—oil tankers disabling AIS transceivers to evade detection—amid Western sanctions on Iran, Syria, North Korea, Venezuela, and Russia. Using a machine learning-based ...

To support this goal, the U.S. Patent and Trademark Office offers reduced fees for small and micro entities. This paper investigates whether fee rates affect the filing of applications by small and ...

We study cost-price dynamics in normal times and during inflation surges. Using microdata on firms’ prices and production costs we construct an empirical measure of price gapsth ...

Since temperature affects many individuals within a region simultaneously, these health impacts could lead to surges in healthcare demand that generate hospital congestion. Climate change will only ...