National Bureau of Economic Research

The National Bureau of Economic Research (NBER) is a nonpartisan, private organization dedicated to advanced research and analysis on significant economic topics. Each year, it shares its research insights with scholars, policymakers in both the public and private sectors, and the general public. The NBER publishes over 1,200 working papers and hosts more than 120 academic conferences annually.

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Articles

Public Debt Bubbles, Liquidity, and Risk: Policy Assessments Based on the Zero-Beta Interest Rate

2 weeks ago | nber.org | Narayana Kocherlakota

Skip to main content I thank Harald Uhlig and participants in multiple seminars for their thoughtful comments. The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research. Related
Administrative Fragmentation in Health Care

3 weeks ago | nber.org | Maggie Shi

We thank Zarek Brot, Joshua Gottlieb, Gina Li, and Julian Reif for helpful comments and feedback. The authors gratefully acknowledge support from the National Institute on Aging of the National Institutes of Health (award no. T32-AG000186). The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research. Related
The Return of Adaptation to Extreme Weather

4 weeks ago | nber.org | Harrison Hong |Serena Ng |Jiangmin Xu

We thank Allan Hsiao, Marshall Burke, Adrien Bilal, Mark Watson, Chad Jones, Nobuhiro Kiyotaki, and seminar participants at the Stanford GSB Climate Conference, Columbia University, Econometric Society Meetings (Ho Chi Minh), Insper, Australasian Banking and Finance Conference, Macquerie University, University of Sydney, and Sabanci University (Istanbul) for helpful comments. Ng acknowledges financial support from the National Science Foundation (SES 2018369).
The Old Keynesian Model

4 weeks ago | nber.org | Robert Barro

Articles from the 1970s applied a general-disequilibrium framework to the determination of output and employment with sticky nominal prices and wages. Quantities are determined on the short sides of the goods and labor market and involve non-price rationing. With general excess supply, where prices and wages are “too high,” output and employment are determined by the Keynesian demand multiplier, based on the marginal propensity to consume.
How Damaging is Shouting "Fire" in a Crowded Theatre?

4 weeks ago | nber.org | Joshua Gans

The author thanks Opher Baron for comments and GPT-o3 and Claude Sonnet 3.7 for helpful research assistance. All errors are my own. The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research. Related
A Simplified Quest for Knowledge

1 month ago | nber.org | Joshua Gans

Thanks to Christoph Carnehl and Johannes Schneider for helpful discussions and Claude Sonnet 3.7 for valuable research assistance. Responsibility for all errors remains my own. The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research. Related
Adjusters and Casualties: The Anatomy of Labor Market Displacement

1 month ago | nber.org | Eric Hanushek |Simon Janssen |Jacob Light |Lisa Simon

Thanks to seminar participants at the Colloquium on Personnel Economics, the Hoover Institution, the Institute for Employment Research (IAB), the International Leading House Conference on the Economics of VET, Stanford University, the University of Zurich, and the VfS Annual Conference for valuable feedback. This research was financed by the authors’ institutions and the authors have no conflicts of interest. All errors are our own.
Convergence? Thoughts About the Evolution of Mainstream Macroeconomics Over the Last 40 Years

1 month ago | nber.org | Olivier Blanchard

I have read the NBER disclosure policy and attest that this acknowledgment discloses all sources of funding and all material and relevant financial relationships. The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research. Related
Divorce, Family Arrangements, and Children's Adult Outcomes

1 month ago | nber.org | Andrew Johnston |Maggie Jones |Nolan Pope

Skip to main content We thank Briana Ballis, Ari Binder, Francine Blau, Raj Chetty, Gordon Dahl, Martin Daly, Michael Dinerstein, Jamie Fogel, Brigham Frandsen, Andrew Garin, Laura Giuliano, Felipe Goncalves, Jon Gruber, Nathan Hendren, Dan Herbst, Edvin Hertegard, Mark Hoekstra, Caroline Hoxby, Melissa Kearney, Felix Koenig, Jessica Laird, Lars Lefgren, Alex Mas, Valerie Ramey, Heather Royer, Lucie Schmidt, and Till von Wachter.
Litigation Risk and the Valuation of Legal Claims: A Real Option Approach

1 month ago | nber.org | José Portela |Jaime Garcia |Eduardo S. Schwartz

There are no sources of funding. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research. Related