New NBER Research
24 July 2017
In a study of targeted debt relief, Will Dobbie and Jae Song find that providing borrowers with long-term debt write-downs significantly improved both financial and labor market outcomes, even though these write-downs do not take effect for three to five years. Immediate payment reductions that increased short-run liquidity had no positive effects.
21 July 2017
Exploiting county-level variation arising from random weather shocks during the 1980s farm debt crisis, Nittai K. Bergman, Rajkamal Iyer, and Richard T. Thakor show that cash injections during the crisis positively affected land markets, the financial sector, and labor markets, and ultimately translated into increases in county-level per-capita income. A one dollar cash injection on average raised county income by $1.63.
20 July 2017
In a study of prescription drug monitoring (PDMP) programs, Dhaval M. Dave, Anca M. Grecu, and Henry Saffer find that requiring providers to query the monitoring program prior to prescribing a controlled drug is associated with a significant reduction in opioid abuse by young adults.
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