Working Paper Series

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2025: Life Insurers’ Private Credit Investments and Annuity Market Share Capture

Ralf R. Meisenzahl, Jackson Overpeck and Andy Polacek

2025: On-the-Job Search and Inflation Under the Microscope

Saman Darougheh, Renato Faccini, Leonardo Melosi and Alessandro Villa

2025: The Dollar Channel of Monetary Policy Transmission

Ralf R. Meisenzahl, Friederike Niepmann and Tim Schmidt-Eisenlohr

2025: A Model of Charles Ponzi

Gadi Barlevy and Inês Xavier

2025: Rushing to Judgment and the Banking Crisis of 2023

Steven Kelly and Jonathan Rose

2025: Long-Run Inflation Expectations

Jonas Fisher, Leonardo Melosi and Sebastian Rast

2025: The Evolving Core of Usable Macroeconomics for Policymakers

Jonas Fisher, Bart Hobijn and Alessandro Villa

2025: Skills, Migration, and Urban Amenities Over the Life Cycle

David Albouy and Jason Faberman

2024: The Bronx is Burning: Urban Disinvestment Effects of the Fair Access to Insurance Requirements

Ingrid Gould Ellen, Daniel Hartley, Jeffrey Lin and Wei You

2024: Cultural Change Through Writing Style: Gendered Pronoun Use in the Economics Profession

Camilo Garcia-Jimeno and Sahar Parsa

2024: How Demand for New Skills Affects Wage Inequality: The Case of Software Programmers

Gustavo de Souza, Jacob S. Herbstman and Jack Mannion

2024: The Racial Dynamics of U.S. Neighborhoods and Their Housing Prices from 1950 Through 1990

Daniel Hartley, Jonathan Rose and Becky Schneirov

2024: More Trade, Less Diffusion: Technology Transfers and the Dynamic Effects of Import Liberalization

Gustavo de Souza, Ruben Gaetani and Martí Mestieri

2024: Investment-Goods Market Power and Capital Accumulation

Fabio Bertolotti, Andrea Lanteri and Alessandro Villa

2024: Intergenerational Elasticities of Housing Consumption and Income

Lancelot Henry de Frahan and Jung Sakong

2024: Credit When You Need It

Benjamin Collier, Daniel Hartley, Benjamin J. Keys and Jing Xian Ng

2024: Balance Sheet Policy Uncertainty and Its Aggregate Implications

Stefania D'Amico and Corey Feldman

2024: On the Mechanics of Fiscal Inflations

Marco Bassetto, Luca Benzoni and Jason Hall

2024: Downward Price Rigidities and Inflationary Relative Demand Shocks

Dennis Bonam and Bart Hobijn

2024: Understanding Money Using Historical Evidence

Adam Brzezinski, Nuno Palma and Francois Velde

2024: The Impact of State Paid Leave Laws on Firms and Establishments: Evidence from the First Three States

Kristin F. Butcher, Deniz Çivril and Sari Pekkala Kerr

2024: Open-Ended Treasury Purchases: From Market Functioning to Financial Easing

Stefania D'Amico, Max Gillet, Sam Schulhofer-Wohl and Tim Seida

2024: Downward Nominal Rigidities and Bond Premia

Francois Gourio and Phuong Ngo

2024: Schooling and Political Activism in the Early Civil Rights Era

Daniel Aaronson, Mark Borgschulte, Sunny Liu and Bhashkar Mazumder

2024: Civil Liberties and Social Structure

Selman Erol and Camilo Garcia-Jimeno

2024: Racial Wealth Gains and Gaps: Nine Facts About the Disparities

Anthony Barr, Darlene Booth-Bell, Kristen Broady and Lucas Cain

2024: Occupational Switching During the Second Industrial Revolution

Bart Hobijn and Robert S. Kaplan

2024: Tax Revolts and Sovereign Defaults

Fernando Arce, Jan Morgan and Nicolas Werquin

2024: Data, Privacy Laws and Firm Production: Evidence from the GDPR

Mert Demirer, Diego Jimenez-Hernandez, Dean Li and Sida Peng

2023: Consumption, Wealth, and Income Inequality: A Tale of Tails

Alexandre Gaillard, Christian Hellwig, Philipp Wangner and Nicolas Werquin

2023: Robots, Tools, and Jobs: Evidence from Brazilian Labor Markets

Gustavo de Souza and Haishi Li

2023: What Do Lead Banks Learn from Leveraged Loan Investors?

Max Bruche, Ralf R. Meisenzahl and David Xiaoyu Xu

2023: Medicaid-ing Uninsurance? The Impact of the Affordable Care Act’s Medicaid Expansion on Uninsurance Spells

Bradley Heim, Elena Patel and Shanthi Ramnath

2023: The Role of Information in Pharmaceutical Advertising: Theory and Evidence

Kelli Marquardt and Conor Ryan

2023: Immigration and the Labor Market in the Post-Pandemic Recovery

Kristin Butcher, Lucas Cain, Camilo Garcia-Jimeno and Ryan Perry

2023: R&D Subsidy and Import Substitution: Growing in the Shadow of Protection

Gustavo de Souza

2023: The Shifting Reasons for Beveridge-Curve Shifts

Gadi Barlevy, Jason Faberman, Bart Hobijn and Aysegul Sahin

2023: The Chicago Fed DSGE Model: Version 2

Jeffrey Campbell, Filippo Ferroni, Jonas Fisher and Leonardo Melosi

2023: Charged and Almost Ready—What Is Holding Back the Resale Market for Battery Electric Vehicles?

Scott Brave, Thomas Klier and Leslie McGranahan

2023: The Lasting Impact of Historical Residential Security Maps on Experienced Segregation

Daniel Aaronson, Daniel Hartley and Bhashkar Mazumder

2023: Forecasted Treatment Effects

Irene Botosaru, Raffaella Giacomini and Martin Weidner

2023: Identification Using Higher-Order Moments Restrictions

Philippe Andrade, Filippo Ferroni and Leonardo Melosi

2023: A Robust Method for Microforecasting and Estimation of Random Effects

Raffaella Giacomini, Sokbae (Simon) Lee and Silvia Sarpietro

2023: Are Friends of Schools the Enemies of Equity? The Interplay of Public School Funding Policies and Private External Fundraising

Lisa Barrow, Sarah Komisarow and Lauren Sartain

2023: Nonbank Lenders as Global Shock Absorbers: Evidence from US Monetary Policy Spillovers

David Elliott, Ralf R. Meisenzahl and Jose-Luis Peydro

2023: A Comment on Monetary Policy and Rational Asset Price Bubbles

Franklin Allen, Gadi Barlevy and Douglas Gale

2023: The “Privatization” of Municipal Debt

Ivan T. Ivanov and Tom Zimmermann

2023: Preferences over the Racial Composition of Neighborhoods: Estimates and Implications

Morris Davis, Jesse Gregory and Daniel Hartley

2023: Learning Monetary Policy Strategies at the Effective Lower Bound with Sudden Surprises

Spencer Krane, Leonardo Melosi and Matthias Rottner

2023: Retail Investors’ Contrarian Behavior Around News, Attention, and the Momentum Effect

Enrichetta Ravina

2023: What does the CDS market imply for a U.S. default?

Luca Benzoni, Christian Cabanilla, Alessandro Cocco and Cullen Kavoussi

2023: The Dual U.S. Labor Market Uncovered

Hie Joo Ahn, Bart Hobijn and Aysegul Sahin

2023: Overborrowing, Underborrowing, and Macroprudential Policy

Fernando Arce, Julien Bengui and Javier Bianchi

2023: International Diversification, Reallocation, and the Labor Share

Joel David, Romain Ranciere and David Zeke

2023: One Asset Does Not Fit All: Inflation Hedging by Index and Horizon

Stefania D'Amico and Thomas King

2023: Bank Branch Access: Evidence from Geolocation Data

Jung Sakong and Alexander Zentefis

2023: Financial Crises and the Global Supply Network: Evidence from Multinational Enterprises

Sergi Basco, Giulia Felice, Bruno Merlevede and Martí Mestieri

2023: Women's Colleges and Economics Major Choice: Evidence from Wellesley College Applicants

Kristin Butcher, Patrick McEwan and Akila Weerapana

2023: Who Cares? Paid Sick Leave Mandates, Care-Giving, and Gender

Tanya Byker, Elena Patel and Shanthi Ramnath

2023: How Climate Change Shapes Bank Lending: Evidence from Portfolio Reallocation

Ralf R. Meisenzahl

2023: The Labor Market Impact of Covid-19 on Asian Americans

Chris de Mena, Suvy Qin and Jing Zhang

2023: What Determines State Heterogeneity in Response to U.S. Tariff Changes

Ana Maria Santacreu, Michael Sposi and Jing Zhang

2023: The Effects of Prescription Drug Monitoring Programs on Labor Market Activity and Credit Outcomes

Bhashkar Mazumder

2023: The Covid-19 Pandemic Spurred Growth in Automation: What Does this Mean for Minority Workers?

Anthony Barr, Darlene Booth-Bell, Kristen Broady and Ryan Perry

2023: Pushing Bonds Over the Edge: Monetary Policy and Municipal Bond Liquidity

John Bagley, Stefan Gissler and Ivan T. Ivanov

2023: Job-to-Job Mobility and Inflation

Renato Faccini and Leonardo Melosi

2023: Blockbusting and the Challenges Faced by Black Families in Building Wealth Through Housing in the Postwar United States

Daniel Hartley and Jonathan Rose

2023: Gas Guns and Governments: Financial Costs of Anti-ESG Policies

Daniel Garrett and Ivan T. Ivanov

2023: Societal Disruptions and Child Mental Health: Evidence from ADHD Diagnosis During the Covid-19 Pandemic

Seth Freedman, Kelli Marquardt, Dario Salcedo, Kosali Simon and Coady Wing