How can we use the novel capacities of large language models (LLMs) in empirical research? And how can we do so while accounting for their limitations, which are themselves only poorly understood? We ...

Causal inference methods are widely used in empirical research; however, there is a paucity of evidence on the properties of shared latent factor estimators in the presence of contaminated ...

The child mental health crisis has been described as the “defining public health crisis of our time.” This article addresses three myths about the crisis: (i) the idea that the crisis is new; (ii) the ...

Flood protection infrastructure investments, such as Army Corps of Engineers levees, can enhance resilience to flood risks amplified by climate change. We estimate levees’ benefits by exploiting ...

We introduce a new methodology to detect and measure economic activity using geospatial data and apply it to steel production, a major industrial pollution source worldwide. Combining plant output ...

Using population-wide Norwegian and Swedish data and quasi-experimental methods, we show that a menopause diagnosis leads to lasting drops in earnings and employment, alongside greater reliance on ...

In addition to working papers, the NBER disseminates affiliates’ latest findings through a range of free periodicals — the ...

The researchers conclude that additional education reduces ADRD risk: Individuals born after the cutoff date showed a 0.2 percentage point reduction in ADRD diagnosis at age 65. The pre-reform ...

As national income accounting standards are updated to incorporate expanded guidance on issues related to natural capital, ...

Policymakers, public commentators, and researchers often cite the Nordic countries as examples of a social and economic model that successfully combines low income inequality with prosperity and ...

The Great Depression is the canonical case of a widespread currency war, with more than 70 countries devaluing their currencies relative to gold between 1929 and 1936. What were the currency war’s ...

We present evidence that noisy financial flows influence financial conditions and macroeconomic activity. How should monetary policy respond to this noise? We develop a model where it is optimal for ...