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 investigates the consequences of regime change for both migration and foreign direct investment (FDI) by employing quasi-natural experiments that exploit external and internal shocks to ...

Two years after the imposition of a student cell phone ban, student test scores in a large urban school district were significantly higher than before, David N. Figlio and Umut Özek find in The Impact ...

Climate change is already increasing temperatures and raising the frequency of natural disasters in the United States. In this paper, we examine several major vectors through which climate change ...

This paper examines a large-scale randomized evaluation of the One Laptop Per Child (OLPC) program in 531 Peruvian rural primary schools. We use administrative data on academic performance and grade ...

We study how a monopolist’s use of consumer data for price discrimination affects welfare. To answer this question, we develop a model of market segmentation subject to residual uncertainty. We fully ...

Does ambiguity (Knightian uncertainty) or risk provide a greater discouragement to investment? There is general agreement in the financial press that uncertainty discourages investment, with ...

This paper studies the connection between regional growth trends and labor market dynamics. New data on manufacturing worker flows for U.S. cities 1969-1981 show more new hires and more voluntary ...

Mutual funds create liquidity for investors by issuing demandable equity shares while holding illiquid securities. We study the implications of this liquidity creation by examining frequent trading ...

We compare the lending technology of direct lenders, banks, and finance companies using a unique data set on secured borrowing by the universe of U.S.-based private middle market firms. The borrowers ...

Consistent with this shortage, we estimate that the median social rate of return to installing an additional kilometer of two-lane highway in EMDEs is 55 percent—roughly eight times the social rate of ...

We estimate and compare impacts of cash and in-kind transfers on the consumption of temptation goods in the same population, and explore normative implications. We use two decades of data from South ...