We investigate how the U.S. dollar’s prominence in the denomination of international debt securities has evolved in recent decades, using a comprehensive global dataset with far more extensive ...

We examine two approaches to improving urban school systems: changing who gets to go to existing schools (reallocation) and restructuring school portfolios through closures and reconstitution ...

The feeling or impression that students get about enrolling in a particular college may be an important determinant of their college application decision. Combining institutional records on college ...

The incidence of tariffs on producers, in the form of lower pre-tariff prices, and consumers, in the form of higher tariff-inclusive prices, is a long-standing issue in international economics. While ...

How do firms make decisions on investments in emerging technologies? We find that firms adjust AI/green investments in response to market reactions to announcements of such emerging-technology ...

Since the late 1980s, extreme poverty has declined sharply, life expectancy and schooling have increased, and electoral democracy has expanded. However poverty reduction has slowed in recent years, ...

Useful social science theories predict behavior across settings. However, applying a theory to make predictions in new settings is challenging: rarely can it be done without ad hoc modifications to ...

This paper shows that the pace of technology creation is a key driver of the skill premium. It develops a model in which skilled workers have a comparative advantage in learning new technologies. As ...

Do firms respond similarly to corporate tax incentives across countries? We provide globally comparable estimates of the corporate elasticity of taxable income using administrative tax return data ...

Understanding whether racial attitudes are malleable is critical for addressing the underlying causes of racial discrimination. We examine whether white males' stated attitudes and behavior toward ...

Output per worker varies enormously across countries. Why? On an accounting basis, our analysis shows that differences in physical capital and educational attainment can only partially explain the ...

The rate of return to R&D investments is a key driver of research investments in both the public and private sectors. The ...