A Deep Look into the Longstanding Phenomenon
of Older Women Who Are Working Longer Than Ever

Increases in labor force participation by older women have persisted for almost 30 years, motivating a group of economists, with support from the Working Longer Program of the Alfred P. Sloan Foundation, to look into the trend's impacts and into what might be propelling it.

                                                                  The Women Working Longer Project

A New NBER Book Explores How High-Skilled
Immigrants Affect U.S. Innovation and Productivity

Immigration policy is one of the most contentious public policy issues in the United States today. High-skilled immigrants represent an increasing share of the U.S. workforce, particularly in science and engineering fields. These immigrants affect economic growth, patterns of trade, education choices, and the earnings of workers with different types of skills. High–Skilled Immigration to the United States and Its Economic Consequences, a new NBER book from the University of Chicago Press, goes beyond the traditional question of how the inflow of foreign workers affects native employment and earnings to explore effects on innovation and productivity, wage inequality across skill groups, the behavior of multinational firms, firm-level dynamics of entry and exit, and the nature of comparative advantage across countries.

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New NBER Research

21 June 2018

Sophisticated Investors and Market Efficiency

After exogenous reductions of analyst coverage due to closures of brokerage firms, hedge funds scale up information acquisition, trade more aggressively, and earn higher abnormal returns on the affected stocks, mitigating impairment of market efficiency caused by coverage reductions, Yong Chen, Bryan Kelly, and Wei Wu find.

20 June 2018

Financial Frictions and the Rule of Law

The combination of weak financial development and weak rule of law can sharply reduce output per capita in developing countries, in some cases by as much as 50 percent, according to a study by Ashantha Ranasinghe and Diego Restuccia.

19 June 2018

Why Has Economic Growth Slowed
When Innovation Appears to be Accelerating?

A slowdown in the rate of increase in educational attainment is a key explanatory of the declining rate of productivity growth in the U.S., according to an analysis by Robert J. Gordon. Another contributing factor is the maturity of the IT revolution, which helps to explain the flattening of the college wage premium.
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The NBER Digest

Online Pricing Data Examined for Its Potential
to Speed Calculation of Purchasing Power Parity

Data gathered online can be used quickly and transparently to compute purchasing power parity measurements, but the results may be less accurate in countries that are more rural and have fewer large retailers, researchers report in the June edition of The NBER Digest shows. The act was recently revised to ease regulation of small and medium-sized banks. Also featured in the June Digest is research exploring the use of online prices Also featured in the current Digest are studies analyzing the income consequences of women retiring early, measuring educational and income benefits of conditional cash transfers, gauging the effects of job-search assistance, examining the impact of cyberattacks, and documenting the Dodd-Frank Act’s impact on lending to small business.

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The NBER Bulletin on Aging and Health

Increased Sunlight Exposure Positively Associated
with Reduced Incidence of Influenza Cases

Influenza is among the top ten causes of death in the United States, and even less-severe cases of the flu can affect worker productivity and consume substantial healthcare resources. Research summarized in the current edition of the NBER's Bulletin on Aging and Health finds a significant positive relationship across states between average sunlight exposure and reduced levels of the flu.

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The NBER Reporter

Income Is the Commonly Used Measure of Inequality,
but Consumption May Provide More Accurate Measure

Most of the discussion around recent trends in inequality stresses that dispersion is growing. However, this conclusion is commonly based on growing income differences. Analyses of consumption data , featured in the latest issue of The NBER Reporter, show that the rise in consumption inequality has been much more modest than the rise in income inequality. Also in the 2018:1 issue of the quarterly Reporter, economists write about new approaches to helping the world’s poorest people out of poverty, the causes of segregation in U.S. cities, the future potential of cryptocurrencies and blockchains, and the roles of affinity and expectations of reciprocity in charitable giving.

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