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

The U.S. net foreign asset position has declined sharply since 2007 and is currently negative 65 percent of U.S. GDP. This deterioration primarily reflects a U.S.-specific rise in corporate asset ...

The price of a safe asset reflects not only the expected discounted future cash flows but also future service flows, since retrading allows partial insurance of idiosyncratic risk in an incomplete ...

This paper studies external sovereign bonds as an asset class. We compile a new database of 266,000 monthly prices of foreign-currency government bonds traded in London and New York between 1815 (the ...

Current technological developments in a number of industries, such as the rise of artificial intelligence and innovations ...

This paper considers why fertility has fallen to historically low levels in virtually all high-income countries. Using cohort data, we document rising childlessness at all observed ages and falling ...

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 ...

US regulators proposed the “Basel Endgame,” a long-awaited overhaul of bank capital requirements. The proposal aimed to bring the United States into compliance with international standards established ...

Fundamental knowledge in the life sciences has consequential implications for medicine and subsequent medical innovations. Using publications in leading life science journals to measure fundamental ...

In this paper we provide new evidence on the health spillover effects of health shocks within couples. Using administrative data from the Netherlands and a matching event-study framework, we estimate ...

This study analyzes, for the first time, the effect of increases in the minimum wage on the labor market outcomes of working age adults with cognitive disabilities, a vulnerable and low-skilled sector ...

In the United States, unemployment insurance (UI) is funded through employer-side payroll taxes that are experience-rated based on previous UI claims. States differ significantly with respect to the ...