We measure benefits to households from Mumbai’s new Metro rail system. We estimate a commute mode choice model to value commute time savings in the short run and a housing choice model to value the ...

This paper presents evidence suggesting that delayed Social Security claiming by husbands – resulting in an actuarially enhanced benefit – attenuates the financial shock of widowhood for their wives.

The Heterogeneous-Agent New Keynesian literature has revisited the transmission of monetary and fiscal policy to consumption using models where heterogeneous households face idiosyncratic income risk ...

The study examines the quasi-natural experiments provided by the staggered introduction of open drivers in the supply chains for routers. It is rare to observe components become open and measure ...

We document that rising volatility in U.S. interest rates, a key dimension of global financial risk, notably depresses the trend of economic activity in emerging market economies (EMEs) but not in ...

Standard approaches to evaluating this property exploit the Welfare Theorems and equate the observed real exchange rate with the social relative costs of consumption. Given the large literature ...

This paper discusses the rebuilding of Ukrainian cities. We start by outlining key facts about Ukraine and its cities: (i) the country’s population is declining; (ii) there is a shift in demand for ...

How does academic research inform presidential economic policy? This paper investigates the sources of evidence in the Economic Report of the President from 2010 to 2025. We construct a novel dataset ...

I examine the potential of pro-development state (capacity) building projects to be coopted for repression. I leverage the natural experiment created by the differential build-up of capacity between ...

This paper argues that in long-term consumer–producer relationships, menus of contracts can often be advantageously replaced by a single generous contract such that, at any point in time, a consumer’s ...

Using nationally representative household consumption surveys from 23 countries that together account for 50% of the world’s poor, we estimate that reducing the poverty rate to 1% (from a baseline of ...

The Opportunity Zone program was designed to encourage investment in distressed communities across the United States. Early research found no evidence of impacts of the program on employment, earnings ...