The Cost of Money is Part of the Cost of Living: New Evidence on the Consumer Sentiment Anomaly
Unemployment is low and inflation is falling, but consumer sentiment remains depressed.
Research
Medicare price negotiation and pharmaceutical innovation following the Inflation Reduction Act
The Inflation Reduction Act (IRA) requires Medicare to negotiate lower prices for some medicines with high Medicare spending.
Risks in Renaissance Art: Production, Purchase, and Reception
This Element represents the first systematic study of the risks borne by those who produced, commissioned, and purchased art, across Renaissance Europe.
On the design of effective sanctions: the case of bans on exports to russia
We build on Baqaee and Farhi (2019, 2021) and derive a theoretically-grounded criterion that allows targeting bans on exports to a sanctioned country at the level of ~5000 6-digit HS products.
How Does Accounting for Population Change Affect Estimates of the Effect of Immigration Policies on the Federal Budget?
We report estimates from the Penn Wharton Budget Model (PWBM) that exempting employment-based green cards from statutory limits for applicants (and their families) who have earned a doctoral or master
How to Fix America’s Broken Air-Traffic Control System
Understaffed and underfunded, the United States’ air-traffic control system is close to its breaking point.
Community influence on microfinance loan defaults under crisis conditions: Evidence from Indian demonetization
Research Summary The microfinance “group lending” approach has achieved widespread success in promoting high rates of repayment, and thus the viability of financial access, in very low-income environm
The Path to AI Arms Control
Today, as the world confronts the unique challenges posed by another unprecedented and in some ways even more terrifying technology—artificial intelligence—it is not surprising that many have been loo
China Wants to Run Your Internet
For the last two centuries, great powers—both nations and their associated firms—have fiercely competed to set the technical standards for leading technologies.
Do Ordeals Work for Selection Markets? Evidence from Health Insurance Auto-Enrollment
Are application hassles, or “ordeals,” an effective way to limit public program enrollment?
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