Darrick Hamilton and Barry Melancon. Hamilton will represent the American Federation of Labor and Congress of Industrial ...

We argue that college students’ field-of-study choices significantly influence how economies respond to labor market disruptions. To do so, we develop and estimate a framework featuring ...

Recent policy proposals seek to regulate out-of-network hospital prices. We study how such regulation affects equilibrium prices, network formation, and hospital exit. We estimate a structural model ...

Amid rising global interest in state interventions, this paper examines how China’s infrastructure investments—a key macroeconomic policy tool—affect firm productivity. We focus on a policy that ...

U.S. labor-force participation dropped by about 3 percentage points and remained below pre-pandemic levels three years later. Recovery varied across states, with slower rebounds in those more affected ...

In such cases, statistical inference is complicated by the interdependence of economic outcomes across locations. A common approach to account for this dependence is to cluster standard errors based ...

We review the literature on the empirical characteristics of the global financial cycle and associated stylized facts on international capital flows, asset prices, risk aversion and liquidity in the ...

Starting in January 2025, New York City became the first city in the United States to introduce a fee for vehicles entering its central business district (CBD). Using Google Maps Traffic Trends, we ...

Capitalism since its inception has been marked by large fluctuations. The resulting episodic unemployment has been very costly. This paper provides an overview of alternative theories. Standard models ...

The use of incentives to encourage healthy behaviors is increasingly widespread, but we have little evidence about how best to structure these programs. We explore how different incentive designs ...

Phone usage in the classroom has been linked to worsened academic outcomes. We present findings from a field experiment conducted at a large public university in partnership with an app marketed as a ...