This paper compares the impacts of critical mineral price and oil price on an economy in a unified neoclassical growth model. Unlike oil price shocks, which affect the cost of utilizing existing ...

We study the macroeconomic effects of tariff policy using U.S. historical data from 1840–2024. We construct a narrative series of plausibly exogenous tariff changes – based on major legislative ...

Bank failures can stem from runs on otherwise solvent banks or from losses that render banks insolvent, regardless of withdrawals. Disentangling the relative importance of liquidity and solvency in ...

Does generative artificial intelligence (AI) reinforce or reduce productivity differences across workers? Existing evidence largely studies AI within firms and occupations, where organizational ...

We examine how workers perceive the trade-offs of freelancing using a novel survey design that explores the nature of workers' perceptions of their own jobs and the implications of work arrangements ...

Variation in the quality of financial accounting reporting can explain more than 10 percent of the dispersion in productivity across private US firms.

Furthermore, greater correlation (and hence a smaller optimal bidder pool) yields the target a higher surplus from the sale (i.e., higher premium). We test the model empirically and show that M&A ...

Housing prices across much of America have hit historic highs, while less housing is being built. If the U.S. housing stock had expanded at the same rate from 2000-2020 as it did from 1980-2000, there ...

Commodity prices are back. This paper looks at connections between monetary policy, and agricultural and mineral commodities. We begin with the monetary influences on commodity prices, first for a ...

We use frontier advancements in Artificial Intelligence and machine learning to extract and classify the part of key economic agents’ behaviors that are predictable from past behaviors. Even the ...

We use newly available, and externally validated, administrative data containing all US Immigration and Customs Enforcement (ICE) arrests from September 2015-October 2025. Beyond demonstrating ...

Using confidential transaction-level data on overnight tri-party Treasury repo from 2018–2025, we study liquidity flows within bank holding companies (BHCs) between primary dealers and affiliated ...