Tariffs raise the prices of goods made at home, not just the imports they tax—an effect that standard pass-through estimates largely miss. Studying the 2025 U.S. tariffs, we find that about 26 percent ...

While overall effects on graduation rates are small and statistically insignificant, exploratory analyses reveal notable variation by site and over time, mirroring heterogeneity in treatment timing ...

This paper focuses on the central role of civil service protections in delineating the boundary between politics and administration. I introduce a simple principal-agent framework to discuss the key ...

This article provides an overview of the literature on financial literacy. It covers the initial measurement that created the Big Three questions and measures of personal finance knowledge featuring ...

Behavioral interventions have become central to modern public policy, but their empirical promise remains contested because estimated treatment effects often appear small. We argue that a policy ...

We use U.S. nationally representative longitudinal data to estimate the effects of cognitive and behavioral impairments in childhood on health in adulthood. We focus on work-limiting health conditions ...

The eurozone is a monetary union without a fiscal union: Each national central bank is ultimately backed by its own government. When the European Central Bank (ECB) engages in cross-border lending or ...

When private capital markets freeze during wars and financial crises, who keeps cross-border credit flowing? Often, it is governments themselves. In States as Financiers: International Lending in War ...

We study how temperature fluctuations affect U.S. state-level economic conditions using high frequency, weekly data from 1987 to 2024. The impulse response to a temperature shock from a panel local ...

As renewable generation plays a growing role in the energy system, periods of negative wholesale electricity prices are becoming increasingly common and are expected to grow dramatically over the next ...

Financial incentives may encourage vaccination, but their cost-effectiveness depends on targeting patients who are most responsive. We conducted a randomized controlled trial with 57,579 adult ...

This paper examines how networks formed through college athletics influence the early-career trajectories of Ivy League graduates. Tracking professional histories of 120,306 Ivy League graduates, we ...