James Poterba is the Mitsui Professor of Economics at the Massachusetts Institute of Technology and the President and CEO of ...

In addition to working papers, the NBER disseminates affiliates’ latest findings through a range of free periodicals — the NBER Reporter, the NBER Digest, the Bulletin on Health, and the Bulletin on ...

Intermediary asset pricing posits that financial institutions are important players in financial markets, and that their decisions shape asset prices beyond simply reflecting the preferences of the ...

In addition to working papers, the NBER disseminates affiliates’ latest findings through a range of free periodicals — the NBER Reporter, the NBER Digest, the Bulletin on Health, and the Bulletin on ...

We estimate the impacts of large-scale unconditional cash transfers on child survival. One-time transfers of USD 1000 were provided to over 10,500 poor households across 653 randomized villages in ...

This paper revisits the Great Gatsby curve that connects inequality to mobility, using panel data spanning several countries and time periods. Existing literature observes that the intergenerational ...

Information frictions—where a worker and her current employer know more about the worker’s productivity than prospective employers—have complex equity-efficiency implications in the teacher labor ...

This paper develops a unified model of the cognitive division of labour in a knowledge economy. Building on recent frameworks for knowledge creation and decision making under uncertainty, it ...

The fiscal theory of the price level (FTPL) has been active for 30 years, and the interest in this theory grew with the recent global surges in inflation and government spending. A related idea from ...

More than 2,800 researchers, hailing from 31 countries, traveled to Cambridge for the 48th annual NBER Summer Institute, which was held over three weeks in mid-July. The Summer Institute included 50 ...

This paper investigates how physicians adjust their clinical decision-making following medical malpractice lawsuits and how these responses are driven by mental rather than financial costs, and do not ...

This paper shows the key, yet overlooked, role played by the legacy of a high inflation history on the strength of the monetary policy response to inflationary shocks. To rationalize this, we propose ...