Puerto Rico, the Commonwealth Island and unincorporated territory of the United States, was placed under a fiscal Oversight Board by the U.S. Congress in 2016. Unable to pay $72 billion it owes to ...

Mark Mason, Jack Porter, and Mark Wolfson were elected to the NBER Board of Directors at the Board’s September 28 meeting.

Karen Mills was elected Chair of the NBER’s Board of Directors, and Douglas Peterson was elected Vice Chair, at the board’s ...

We study optimal tariffs in a model consistent with these facts. Firms pay a fixed cost to import and charge markups that increase with size. Market power implies that importers are too few and too ...

We study how the shale revolution and the U.S. transition from petroleum importer to net exporter have changed the macroeconomic effects of oil shocks. Using oil supply news shocks identified from ...

The Opportunity Zone (OZ) program, created under the 2017 Tax Cuts and Jobs Act, represents one of the largest place-based economic development initiatives in US history. It offers substantial capital ...

We estimate that a 1 GW AI campus costs about $41 billion. A 188 GW U.S. buildout completed by 2032 would require total investment of nearly$9 trillion and amount to annual investment of 3.2 percent ...

We use newly linked IRS data to study how US multinationals use tax-planning structures that exploit mismatches between US and foreign tax laws. In 2016, these structures accounted for 36% of foreign ...

Private capital fund managers appear to possess significant information about the relative quality of their portfolio firms even within the first three years after the investment. But the way this ...

Stressful events are associated with long-term adverse health impacts, but the causal mechanisms linking exposures to disease remain poorly understood. One mechanism is persistent changes to hormonal ...

Do early investments in parents pay off even when treatment effects for children appear to fade out quickly? We answer this question by leveraging a field experiment in which households with 3-5 ...

We measure how artificial intelligence (AI) affects the economy through its impact on software engineering productivity. We use information from financial markets to develop a forward-looking measure ...