The researchers conclude that additional education reduces ADRD risk: Individuals born after the cutoff date showed a 0.2 percentage point reduction in ADRD diagnosis at age 65. The pre-reform ...

During the Covid-19 pandemic, the United States effectively “spent” about 4 percent of GDP — via reduced economic activity — to address a mortality risk of roughly 0.3 percent. Many experts believe ...

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

The model has multiple rational expectations equilibria; we associate certain Pareto inferior equilibria with liquidity crises. The government can improve welfare by acting as a “market-maker of last ...

Naloxone claims increased the most among consumers facing the lowest out-of-pocket costs, including Medicare and Medicaid beneficiaries. The researchers conclude that, while the combination of ...

We study the role played by Chinese state–owned firms during the US–China trade war. Based on measures constructed from Chinese firm–level customs microdata, we show that the presence of state–owned ...

Do returns in private equity (PE) rise or fall with fund scale? This question is increasingly urgent amid larger funds and new focus on the retail market. Since better managers can raise larger funds, ...

The prospect for electric vehicles (EVs) as a climate change solution hinges on their widespread adoption across political lines. This paper uses county-level data to show that from 2012-2023, about ...

Healthcare fraud imposes a sizable cost on U.S. public healthcare budgets and distorts health care provision. We examine the economics of health care fraud and enforcement using theory and data and ...

Large Language Models (LLMs) have demonstrated remarkable capabilities in text generation, but their performance may be influenced by the datasets on which they are trained, including potentially ...

Using real estate investment trusts (REITs) that invest in commercial real estate (CRE) as a leading example, we study the implications for banks of extending credit lines to “shadow banks” or ...

This paper examines how homeownership status shapes attention to inflation and its impact on durable consumption. Using randomized controlled trials on U.S. households (2021–2023), we document ...