NBER Working Papers

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33862: City Size, Monopsony, and the Employment Effects of Minimum Wages

Priyaranjan Jha, Jyotsana Kala, David Neumark and Antonio Rodriguez-Lopez

33861: The Effects of Switching Electronic Health Record Developer on Specialty Referrals

Bingjin Xue and Chad Meyerhoefer

33860: The Geography of Opportunity after the Civil War: Black and White Americans' Intra- and Intergenerational Mobility into Property Ownership

William Collins and Nicholas C. Holtkamp

33859: Decoupling Taste-Based versus Statistical Discrimination in Elections

Amanda de Albuquerque, Frederico Finan, Anubhav Jha, Laura Karpuska and Francesco Trebbi

33858: Inflation, Expectations and Monetary Policy: What Have We Learned and to What End?

Olivier Coibion and Yuriy Gorodnichenko

33857: Recovering from COVID

James Stock and Mark Watson

33856: Real-world Effectiveness of the Influenza Vaccine in Young Children

Michael Anderson, Carlos Dobkin, Devon Gorry and Hung-Fu Tseng

33855: The Structural Transformation of Innovation

Diego Comin, Danial Lashkari and Martí Mestieri

33854: Internal Migration and the Spatial Reorganization of Agriculture

Raahil Madhok, Frederik Noack, Ahmed Mobarak and Olivier Deschenes

33853: Local Monetary Policy

Vyacheslav Fos, Tommaso Tamburelli and Nancy R. Xu

33852: How Damaging is Shouting "Fire" in a Crowded Theatre?

Joshua Gans

33851: Remote Work, Employee Mix, and Performance

Cevat Giray Aksoy, Nicholas Bloom, Steven Davis, Victoria Marino and Cem Ozguzel

33850: The Old Keynesian Model

Robert Barro

33849: Spillovers from Public Health Policies in Schools: Evidence from COVID Mask Mandates

Matthew A. Guzman, Scott Imberman, Neil R. Filosa, Tara Kilbride and Nat Malkus

33848: Bidding for Talent: A Test of Conduct in a High-Wage Labor Market

Nina Roussille and Benjamin Scuderi

33847: Measuring Self-Reported Well-Being

Ori Heffetz and Yehonatan Caspi

33846: What Do People Want?

Daniel Benjamin, Kristen B. Cooper, Ori Heffetz, Miles Kimball and Tushar Kundu

33845: Monetary Stabilization of Sectoral Tariffs

Paul Bergin and Giancarlo Corsetti

33844: The Effect of a Monthly Unconditional Cash Transfer on Children’s Development at Four Years of Age: A Randomized Controlled Trial in the U.S

Kimberly Noble, Katherine Magnuson, Greg Duncan, Lisa A. Gennetian, Hirokazu Yoshikawa, Nathan A. Fox, Sarah Halpern-Meekin, Sonya Troller-Renfree, Sangdo Han, Shannon Egan-Dailey, Timothy D. Nelson, Jennifer Mize Nelson, Sarah Black, Michael Georgieff and Debra Karhson

33843: Meaning At Work

Nava Ashraf, Oriana Bandiera, Virginia Minni and Luigi Zingales

33842: Martyrs, Morale, and Militarism: The Political Impact of Devastation and Slaughter

Shizuka Inoue, David Weinstein and Atsushi Yamagishi

33841: Conditioning Out the Poor? Consumption Inequality and the Design of Cash Transfer Programs

Santosh Anagol, Thomas Fujiwara and Martin Navarrete

33840: Global Price Shocks and International Monetary Coordination

Veronica Guerrieri, Guido Lorenzoni and Iván Werning

33839: The Optimal Macro Tariff

Oleg Itskhoki and Dmitry Mukhin

33838: The Persistence of Female Political Power in Africa

Siwan Anderson, Sophia du Plessis, Sahar Parsa and James Robinson

33837: News Selection and Household Inflation Expectations

Ryan Chahrour, Adam Shapiro and Daniel Wilson

33836: Take the Load Off: Effort and Technology as Determinants of Electricity Demand Response

Megan R. Bailey, David Brown, Blake Shaffer and Frank A. Wolak

33835: The Effect of Childcare Access on Women's Careers and Firm Performance

Elena Simintzi, Sheng-Jun Xu and Ting Xu

33834: Policies to Reduce Federal Budget Deficits by Increasing Economic Growth

Douglas Elmendorf, Robert Hubbard and Zachary Liscow

33833: Equilibrium Price Responses to Targeted Student Financial Aid

Nano Barahona, Caue Dobbin and Sebastián Otero

33832: A Double Dose of Reform: Insurance and Centralized Negotiation in Drug Markets

Panle Barwick, Ashley T. Swanson and Tianli Xia

33831: Consumer Sentiment Towards Asians in the Early Days of the Covid-19 Pandemic

Kerwin Kofi Charles, Jonathan Guryan and Kyung H. Park

33830: No Country for Dying Firms: Evidence from India

Shoumitro Chatterjee, Kala Krishna, Kalyani Padmakumar and Yingyan Zhao

33829: Valuing Wildfire Smoke Related Mortality Benefits from Climate Mitigation

Minghao Qiu, Christopher W. Callahan, Iván Higuera-Mendieta, Lisa Rennels, Bryan Parthum, Noah S. Diffenbaugh and Marshall Burke

33828: What are the Costs of Weakening Shareholder Primacy? Evidence from a U.S. Quasi-Natural Experiment

Benjamin Bennett, René M. Stulz and Zexi Wang

33827: Government Intervention in the Financial Market

Jiang Wang

33826: Invoicing of Japanese Exports and Imports: Analysis of Granular Data by Industry and by Country

Junko Shimizu, Uraku Yoshimoto, Takatoshi Ito, Kiyotaka Sato, Yushi Yoshida and Taiyo Yoshimi

33825: Tradeoffs over Rate Cycles: Activity, Inflation and the Price Level

Kristin Forbes, Jongrim Ha and Ayhan Kose

33824: The Return of Adaptation to Extreme Weather

Harrison Hong, Serena Ng and Jiangmin Xu

33823: Income and Wealth Inequality in the United States: An Update Including the 2022 Wave

Moritz Kuhn and José-Víctor Ríos-Rull

33822: Tax Credits and Child Outcomes: Lessons from the U.S., U.K., and Canada

Katherine Michelmore

33821: Natural Language Processing and Innovation Research

Antonin Bergeaud, Adam Jaffe and Dimitris Papanikolaou

33820: Entry and Profits in an Aging Economy: The Role of Consumer Inertia

Gideon Bornstein

33819: Advising Job Seekers in Occupations with Poor Prospects: A Field Experiment

Michèle Belot, Bart K. de Koning, Didier Fouarge, Philipp Kircher, Paul Muller and Sandra Phlippen

33818: The Effects of Political Advertising on Facebook and Instagram before the 2020 US Election

Hunt Allcott, Matthew Gentzkow, Ro’ee Levy, Adriana Crespo-Tenorio, Natasha Dumas, Winter Mason, Devra Moehler, Pablo Barbera, Taylor W. Brown, Juan Cisneros, Drew Dimmery, Deen Freelon, Sandra González-Bailón, Andrew M. Guess, Young Mie Kim, David Lazer, Neil Malhotra, Sameer Nair-Desai, Brendan Nyhan, Ana Carolina Paixao de Queiroz, Jennifer Pan, Jaime Settle, Emily Thorson, Rebekah Tromble, Carlos Velasco Rivera, Benjamin Wittenbrink, Magdalena Wojcieszak, Shiqi Yang, Saam Zahedian, Annie Franco, Chad Kiewiet de Jonge, Natalie Jomini Stroud and Joshua A. Tucker

33817: The Experimental Selection Correction Estimator: Using Experiments to Remove Biases in Observational Estimates

Susan Athey, Raj Chetty and Guido Imbens

33816: Original Sin Redux: Role of Duration Risk

Carol Bertaut, Valentina Bruno and Hyun Song Shin

33815: A Simplified Quest for Knowledge

Joshua Gans

33814: Decoding China's Industrial Policies

Hanming Fang, Ming Li and Guangli Lu

33813: The Evolution of Age-friendly Jobs in a Rapidly Ageing Economy

Hyeongsuk Kim, Chulhee Lee and Karen Eggleston

33812: Effort, Identity, and Employee Mental Health

Rachel Kranton and Duncan Thomas

33811: The Spill-back and Spillover Effects of US Monetary Policy: Evidence on an International Cost Channel

Yao Li, Lingfei Lu, Shang-Jin Wei and Jingbo Yao

33810: Partisan Corporate Speech

William M. Cassidy and Elisabeth Kempf

33809: Tax Preferences and Housing Affordability: Explorations using a Life-Cycle Model

Michael Keane and Xiangling Liu

33808: Expectations Formation with Fat-Tailed Processes: Evidence and Theory

Tim de Silva, Eugene Larsen-Hallock, Adam Rej and David Thesmar

33807: What Works for the Unemployed? Evidence From Quasi-Random Caseworker Assignments

Anders Humlum, Jakob Munch and Mette Rasmussen

33806: The Rise and Retreat of US Inflation: An Update

Laurence Ball, Daniel Leigh and Prachi Mishra

33805: Tax Avoidance as an R&D Subsidy: The Use of Cost Sharing Agreements by US Multinationals

Lysle Boller, Clare M. Doyle and Juan Carlos Suárez Serrato

33804: Native-Immigrant Entrepreneurial Synergies

Zhao Jin, Amir Kermani and Timothy McQuade

33803: Should Governments Restrict Foreign Investments in Startups?

Fiona Paine, Richard R. Townsend and Ting Xu

33802: Convergence? Thoughts About the Evolution of Mainstream Macroeconomics Over the Last 40 Years

Olivier Blanchard

33801: Political Control Over Redistricting and the Partisan Balance in Congress

Kenneth Coriale, Daniel A. Kolliner and Ethan Kaplan

33800: College Course Shutouts

Kevin Mumford, Richard Patterson and Anthony Yim

33799: Firms' Inflation and Wage Expectations during the Inflation Surge

Erwan Gautier, Frédérique Savignac and Olivier Coibion

33798: Targeted Education Transfers Reduced Long-Run and Intergenerational Ethnic Inequality in Chile

Adrienne Lucas, Patrick McEwan and David Torres Irribarra

33797: Changes in the College Mobility Pipeline Since 1900

Zachary Bleemer and Sarah Quincy

33796: Firm Quality Dynamics and the Slippery Slope of Credit Intervention

Wenhao Li and Ye Li

33795: Shifting Work Patterns with Generative AI

Eleanor Dillon, Sonia Jaffe, Nicole Immorlica and Christopher T. Stanton

33794: Revisiting the Forecasts of Others

Ryan Chahrour and Kyle Jurado

33793: Migration and Regime Change: Outflows Follow Democratic Decline, Inflows Fuel Illiberal Drift

Assaf Razin

33792: The 2025 Trade War: Dynamic Impacts Across U.S. States and the Global Economy

Andres Rodriguez-Clare, Mauricio Ulate and Jose P. Vasquez

33791: Separation of Church and State Curricula? Examining Public and Religious Private School Textbooks

Anjali Adukia and Emileigh Harrison

33790: Litigation Risk and the Valuation of Legal Claims: A Real Option Approach

Jose Portela, Eduardo S. Schwartz and Jaime Aparicio Garcia

33789: Renewable Asset Price Volatility and Its Implications for Decarbonization

Harrison Hong, Jeffrey D. Kubik and Edward P. Shore

33788: What Economists Should Know about the 340B Drug Discounting Program

Charles Courtemanche and Joseph Garuccio

33787: Job Amenity Shocks and Labor Reallocation

Sadhika Bagga, Lukas Friedrich Mann, Aysegul Sahin and Giovanni Violante

33786: Culture and Contemporary Political Preferences

Vasiliki Fouka and Marco Tabellini

33785: Who Benefits from Place-Based Policies? Evidence from Matched Employer-Employee Data

Philipp Grunau, Florian Hoffmann, Thomas Lemieux and Mirko Titze

33784: The Tariff Tax Cut: Tariffs as Revenue

George Alessandria, Jiaxiaomei Ding, Shafaat Khan and Carter B. Mix

33783: Acquiring Patents in Secret: Disclosure Timing in Markets for Technology

George Chondrakis, Carlos Serrano and Rosemarie Ziedonis

33782: In Good Company: Coethnic Advisors and Career Paths of Immigrant Ph.D. Students

Caroline Fry and Britta Glennon

33781: Gene x Environment Interactions: Polygenic Scores and the Impact of an Early Childhood Intervention in Colombia

Orazio Attanasio, Gabriella Conti, Pamela Jervis, Costas Meghir and Aysu Okbay

33780: The Social Returns to Public R&D

Andrew Fieldhouse and Karel Mertens

33779: Location Effects or Sorting? Evidence from Firm Relocation

Pauline Carry, Benny Kleinman and Elio Nimier-David

33778: Risk Markups

Sebastian Di Tella, Cedomir Malgieri and Christopher Tonetti

33777: Large Language Models, Small Labor Market Effects

Anders Humlum and Emilie Vestergaard

33776: Divorce, Family Arrangements, and Children's Adult Outcomes

Andrew Johnston, Maggie R. Jones and Nolan Pope

33775: Who You Gonna Call? Gender Inequality in External Demands for Parental Involvement

Kristy Buzard, Laura Gee and Olga Stoddard

33774: Entrepreneurial Spawning from Remote Work

Alan Kwan, Ben Matthies, Richard R. Townsend and Ting Xu

33773: The Decline of Bank Branching

Rajesh P. Narayanan, Dimuthu Ratnadiwakara and Philip Strahan

33772: Tariffs as Cost-Push Shocks: Implications for Optimal Monetary Policy

Iván Werning, Guido Lorenzoni and Veronica Guerrieri

33771: Making America Great Again? The Economic Impacts of Liberation Day Tariffs

Anna Ignatenko, Ahmad Lashkaripour, Luca Macedoni and Ina Simonovska

33770: Is ESG a Sideshow? ESG Perceptions, Investment, and Firms' Financing Decisions

Roman Kräussl, Joshua Rauh and Denitsa Stefanova

33769: Fiscal Redistribution Risk in Treasury Markets

Roberto Gomez Cram, Howard Kung, Hanno Lustig and David Zeke

33768: Assessing the Estimands and Estimates of Hospitalization Rates in Health Economics and Clinical Medicine

Aditya Jain, Gil Peled, Filip Obradovic, Federico Crippa, Yeshaya Nussbaum, Michael Gmeiner, Daniela Ladner and Charles Manski

33767: Universal Pre-K as Economic Stimulus: Evidence from Nine States and Large Cities in the U.S

C. Kirabo Jackson, Julia A. Turner and Jacob Bastian

33766: Transformative and Subsistence Entrepreneurs: Origins and Impacts on Economic Growth

Ufuk Akcigit, Harun Alp, Jeremy Pearce and Marta Prato

33765: Management and Firm Dynamism

Raffaella Sadun, Rachel J. Schuh, Jonathan S. Hartley, John van Reenen and Nicholas Bloom

33764: The Impacts of Grade Retention Policy With Minimal Retention

Jordan S. Berne, Brian A. Jacob, Christina Weiland and Katharine O. Strunk

33763: Healthcare Provider Bankruptcies

Samuel Antill, Jessica Bai, Ashvin Gandhi and Adrienne Sabety