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Economists disagree about the factors driving the substantial increase in residual wage inequality in the US over the past few decades. To identify changes in ...

Search frictions in the product market have been widely studied as a foundation of monetary theory. More recently, they have also been advanced as a possible ...

The timing of transfers is critical to their value for recipients. Thus, although the bulk of family transfers occurs in the form of inheritances, inter-vivos ...

Industrial policies, while often aimed at domestic industries, can spur technological progress abroad. We document this mechanism in the case of rare earth ...

We study the interaction between monetary policy and labor supply decisions at the household level. We uncover evidence of heterogeneous responses and a strong ...

How does an adverse economic shock affect families? We answer this question by exploiting a natural-experimental earthquake shock and unique panel data with ...

We revisit the role of human capital in explaining the cross-country variation in GDP. We propose a general-equilibrium model in which workers of different ...

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We show empirically that 11 percent of recent US high school graduates did not apply for federal financial aid due to finding applying too difficult or ...