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

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 ...

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 ...

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 ...

I find no evidence of significant outmigration or reduced inflows of startup founders or inventors. I estimate that absent any outmigration, wealth tax revenues would have increased by 75% from 2021 ...

Occupational licensing is a widespread quality regulation that potentially increases the quality of labor but reduces its quantity. We provide a theoretical framework to empirically quantify this ...

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 analyze the academic affiliations of nearly 6,000 award-winning researchers in 18 major fields in the natural sciences, engineering, and social sciences from the 1820s to the 2020s, focusing on the ...

Using two large national U.S. insurance claims databases and a novel natural experiment, we assessed differences in prevalence of ADHD and autism among children whose gestational periods were impacted ...

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 ...

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 ...