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 ...

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 ...

Recent research finds that the shelter component of CPI inflation responds with a lag to movements in market rents—the rents that tenants pay when they move into a new dwelling. This paper seeks to ...

Using a large and representative panel of U.S. brokerage accounts, we show that retail investors trade as contrarians after large earnings surprises, especially for loser stocks, and that such ...

We implement five different tests of whether grand juries, which are drawn from a representative cross-section of the public, discriminate against Black defendants when deciding to prosecute felony ...

Our findings indicate that self-image is at most 19.3% as important as social-image. Additionally, we document substantial heterogeneity in the strength of these preferences across individuals and ...

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 use a novel dataset of production costs, wholesale prices, and retail prices from a large global manufacturer to study markups and pricing behavior along the supply chain. We document several facts ...

We examine the effects of Ukraine’s economic blockade of the anthracite-rich Donbas region, to demonstrate how trade sanctions’ efficacy can be undermined by trade through non-participatory nations.

This paper tests the long-standing hypothesis that China's 1958 Four Pests Campaign, which exterminated sparrows despite scientists’ warnings about their pest-control role, exacerbated the Great ...

This paper tests how people’s moral values influence their views of debt contracts. We ask participants to make decisions about debt contracts in different hypothetical situations (vignettes). We ...

Novel co-inventors introduce new products or services with the potential for large returns, but do so at high costs and with uncertain outcomes. Similar firms investing in incremental co-invention ...