The National Bureau of Economic Research is dedicated to promoting a greater understanding of how the economy works.
Previously unnoticed property of commonly-used discrete choice models, which is that they feature parallel demand curves.
Retirement plan participants who delegated portfolio management to target date funds and managed accounts were significantly less likely to make portfolio changes during the first quarter of 2020, from David Blanchett, Michael S. Finke, and Jonathan Reuter
COVID-19 scarred beliefs by revealing a risk that we didn't know was there. Scarring will dissuade Americans from taking economic risks that are essential to robust growth for many decades to come, from Kozlowski, Veldkamp, and Venkateswaran
US hospitals make costly investments in quality to attract higher prices from privately insured patients, creating a connection between private prices and hospital quality, from @C_Garthwaite , Christopher Ody, and @AmandaStarc1
In a commuting network, substantially smaller economic losses occur if governments target lockdowns spatially rather than imposing them equally across all locations, from Pablo Fajgelbaum, @akhandelwal8 , Wookun Kim, Cristiano Mantovani, and Edouard Schaal
Following financial crises, bank insiders are reluctant to reduce their private benefits of control by diluting their ownership through equity issuances, from Martin Goetz, Luc Laeven, and Ross Levine
Developing a method to investigate whether people value attention-increasing tools rationally: In two experiments, individuals undervalue attention-increasing tools, from Erin T. Bronchetti, @juddkessler , Ellen B. Magenheim, @DTaubinsky , and Eric Zwick
A panel of Social Security Administration earnings is linked to the Current Population Survey to estimate the impact of increasing post-childbirth work incentives on mothers' long-run career trajectories.
A study of the relationship between unemployment, environmental policy, and business cycles using a model with both a pollution externality and congestion externalities from labor search frictions, from John Gibson and @GarthHeutel
An overview of US infrastructure data in the National Economic Accounts, focusing on basic, social, and digital infrastructure (investment, capital stocks, depreciation, and prices), from Jennifer Bennett, Robert Kornfeld, @DanSichel1 , and David Wasshausen
In U.S. Presidential races, the popular-vote winner will lose 40% of elections decided by 2 million votes or less. Electoral College "inversions" have been likely since the 1800s, from @MikeGeruso , Dean Spears, and Ishaana Talesara
Economics undergraduate students are more gender-biased than those in other fields. The gap becomes larger with increased exposure to economics training, especially for male students, from Valentina A. Paredes, @DanielePaserman , and @franciscopino
Shutdown orders had only modest effects on the economy. Businesses on opposite sides of borders with different shutdown policies fell similarly. Instead, consumer fear seems to have driven the declines, from @Austan_Goolsbee and Chad Syverson
All new and upcoming NBER Working Papers relating to the coronavirus are to be available free of charge, including three new papers released this week: , , and
Large negative effects of COVID-19 in higher education: 13% of students have delayed graduation; 40% lost a job, internship, or job offer; and 29% expect to earn less at age 35, from Aucejo, French, Paola Ugalde Araya, and Zafar
Why has the college wage premium risen in the US but not in Germany? Employment protection in Germany that provides incentives to invest in the skills of less-educated workers accounts for much of the gap, from @mdoepke and Ruben Gaetani
Lockdowns make married people happier, if little income and work time are lost, while lockdowns reduce single people’s happiness a lot, from Daniel S. Hamermesh