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We estimate an equilibrium model of car attribute production using U.S. household microdata for 1995–2017 and structurally decompose attribute trends into underlying mechanisms. We find that technical ...

This paper analyzes 630,000 paintings from 1400 onward to uncover how visual art reflects its socioeconomic context. We develop a learning algorithm to predict nine basic emotions conveyed in each ...

Our findings offer insights into how blockbuster products shape firms' customer segment and innovation choices, with implications for understanding the dynamics of technological change in ...

We estimate the causal impacts of immigration to U.S. cities on the intergenerational economic mobility of children of U.S.-born parents. Immigration raises the educational attainment and earnings ...

We develop a quantitative New Keynesian DSGE model with monopolistic banks to study the macroeconomic effects of introducing a central bank digital currency (CBDC). Households benefit from an ...

In a fuzzy regression discontinuity (RD) design, the probability of treatment jumps when a running variable (R) passes a threshold (R0). Fuzzy RD estimates are obtained via a procedure analogous to ...

Using Eurobarometer data for 21 Western European countries since 1973 we show the U-shape in life satisfaction by age, present for so long, has now vanished. In 13 northern European countries - ...

Small businesses have long supplied a disproportionate share of major innovations in the United States. We review a centerpiece policy on this topic: the US Small Business Innovation Research (SBIR) ...

This paper tests whether mergers between nursing home chains and independent facilities affect quality of care using facility-level data from 1999-2019. Staggered difference-in-differences estimates ...

We study how uncertainty propagates through production networks. First, we construct a highly disaggregated, forward-looking measure of industry-level uncertainty using option-implied volatility data ...

In the early 1940s, Japanese American farmers represented a highly skilled segment of the agricultural workforce in the Western United States, characterized by higher education levels and more ...