Population aging is expected to slow U.S. economic growth. We use variation in the predetermined component of population aging across states to estimate the impact of population aging on growth in GDP ...

U.S. income inequality has varied inversely with union density over the past hundred years. But moving beyond this aggregate relationship has proven difficult, in part because of limited microdata on ...

Using newly-assembled data encompassing up to 75 countries and starting circa 1910, we find that the Schumpeterian process of creative destruction aptly describes the replacement of large firms by ...

In this paper, we review the literature on declining business dynamism and its implications in the United States and propose a unifying theory to analyze the symptoms and the potential causes of this ...

This paper studies the critical but underexplored role of subcontracting in shaping the spatial and firm-level effects of federal government spending. Using newly available data on defense subcontract ...

Work requirements are often criticized for imposing administrative burdens that reduce access to benefits, yet prior research has struggled to isolate this mechanism from other sources of ...

The worsening mental health of young workers in the United States drives the disappearance of the U-shape in wellbeing and the hump-shape in illbeing in the last decade. Illbeing declines in age among ...

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Around the world, we observe prevalent increases in the concentration of sales, net income, and equity capital over the past century. These trends hold in the aggregate and at the industry level.

We measure how frontier research frames what is normatively at stake along the efficiency and equity dimension. We develop and validate an LLM-based measurement pipeline and apply it to 27,464 ...

We study the labor market effects of tenure-dependent severance pay systems that tie firing costs to workers’ accumulated earnings histories. We develop an overlapping-generations search-and-matching ...

This paper develops a tractable economic model of AJI that treats adoption as an information problem: users care about local reliability, but typically observe only coarse, global quality signals. In ...