We review the literature on the empirical characteristics of the global financial cycle and associated stylized facts on international capital flows, asset prices, risk aversion and liquidity in the ...

Starting in January 2025, New York City became the first city in the United States to introduce a fee for vehicles entering its central business district (CBD). Using Google Maps Traffic Trends, we ...

Capitalism since its inception has been marked by large fluctuations. The resulting episodic unemployment has been very costly. This paper provides an overview of alternative theories. Standard models ...

My research with collaborators digs deeper into the workings of specific War on Poverty programs, seeking evidence about ...

The use of incentives to encourage healthy behaviors is increasingly widespread, but we have little evidence about how best to structure these programs. We explore how different incentive designs ...

Debt sustainability is fundamentally a probabilistic concept: Debt is rarely sustainable with probability one. We propose an index of external debt sustainability that reflects this uncertainty.

This paper proposes novel natural language methods to measure worker rights from collective bargaining agreements (CBAs) for use in empirical economic analysis. Applying unsupervised text-as-data ...

2025, Long-Term Asset Management, Ishita Sen, "The Market for Sharing Interest Rate Risk: Quantities and Asset Prices" ...

In addition to working papers, the NBER disseminates affiliates’ latest findings through a range of free periodicals — the ...

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In addition to working papers, the NBER disseminates affiliates’ latest findings through a range of free periodicals — the NBER Reporter, the NBER Digest, the Bulletin on Retirement and Disability, ...

This paper examines how power lawyers shape judicial and economic outcomes by studying the “revolving door” between judges and lawyers in China’s judicial system—namely, former judges who quit the ...