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Article
Two new working papers distributed in the last two weeks report on the economic, health, and related consequences of the COVID-19 pandemic and public policies that respond to it. One investigates the properties of different rationing schemes for scarce medical resources, with particular application to vaccine allocations during the pandemic (30064). The other examines housing market dynamics since 2020, finding that the rise in remote work can explain roughly half of the...
NBER Research Associates Honored by AEA -Left to Right: Barry Eichengreen, James Poterba, Carmen M. Reinhart, John Van Reenen
Article
The American Economic Association has named NBER Research Associates Barry Eichengreen, James Poterba, and Carmen M. Reinhart distinguished fellows, and John Van Reenen a foreign honorary member. The Association also honored Sadie T.M. Alexander posthumously as a distinguished fellow. Eichengreen, a leading scholar of economic history and international macroeconomics, is the George C. Pardee and Helen N. Pardee Chair and Distinguished Professor of Economics and...
Lisa D. Cook Confirmed to Board of Governors of the Federal Reserve photo
Article
Lisa D. Cook, an NBER affiliate since 2018 in two programs, Development of the American Economy and Productivity, Innovation, and Entrepreneurship, has been confirmed by the US Senate to serve as a member of the Board of Governors of the Federal Reserve System. A professor of economics and international relations at Michigan State University, she is the first Black woman to serve on the board in its 108-year history. Cook’s research interests include economic growth,...
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Article
Pharmaceutical companies have succeeded in boosting demand for high-priced brand-name drugs by offering coupons to offset patient cost-sharing. While consumers who qualify for these coupons enjoy immediate benefits, the practice has frustrated insurers’ efforts to manage costs and has increased US drug spending, according to a new study. In How Do Copayment Coupons Affect Branded Drug Prices and Quantities Purchased? (NBER Working Paper 29735), Leemore Dafny, Kate...
Figure for Working Paper w29723
Article
In Machine-Learning the Skill of Mutual Fund Managers (NBER Working Paper 29723) Ron Kaniel, Zihan Lin, Markus Pelger, and Stijn Van Nieuwerburgh use a neural network to predict mutual fund performance. They estimate relationships among a large set of fund attributes to identify the US mutual funds with the best relative performance. They apply their model to predict the best-performing decile of funds each month and to compute portfolio weights for different funds that...

More from this issue (related)

    Computerization’s Impacts on Office Jobs and Salaries figure
    Article
    Office and administrative support positions grew from less than 12 percent of US employment in 1950 to a peak of about 17 percent by 1980. By 2019, mass adoption of personal computers had returned the administrative support share to the level of the 1950s. In Computerization of White Collar Jobs (NBER Working Paper 29866) Marcus Dillender and Eliza Forsythe investigate how the increase in computer use changed hiring requirements and job content. Contrary to popular...
    Estimating Lives Saved by COVID Vaccines
    Article
    States vary widely in the COVID-19 vaccination rates of their populations, from 48 percent in Alabama to 77 percent in Vermont between November 2021 and February 2022. In Vaccination Rates and COVID Outcomes across US States (NBER Working Paper 29884), Robert J. Barro estimates the effectiveness of vaccines in reducing negative COVID outcomes from this state-level variation. He leverages Centers for Disease Control and Prevention data on vaccination rates, cases,...
    Figure for Working Paper w29837
    Article
    Wars and other periods of conflict typically heighten political uncertainty, but US stock volatility is 33 percent lower than usual in such times. A new study, Stock Volatility and the War Puzzle (NBER Working Paper 29837), proposes to explain this long-standing conundrum. War causes the defense share of government spending to rise, sometimes dramatically. This makes the future profitability of a wide swath of companies more predictable and, thus, less volatile,...
    Figure for working papers 29739 and w29784. April 2022 Digest
    Article
    Two recent NBER working papers develop new strategies for measuring the tightness of US labor markets and conclude that during 2021, these markets were significantly tighter than standard yardsticks, such as the aggregate unemployment rate, indicated. In How Tight Are US Labor Markets? (NBER Working Paper 29739), Alex Domash and Lawrence H. Summers explore the relationships between four different slack indicators — the number of unemployed people actively seeking a...
    Figure for working papers w29641 and w29660
    Article
    Two new studies show that school closures caused by the COVID-19 pandemic significantly reduced parents’ labor market activity. They reach different conclusions about which demographic groups were most affected, one concluding that it was parents without college degrees, the other pointing to mothers with school-aged children. These disparities may be the result of the studies’ analysis of somewhat different time periods and geographic areas. In The Impact of School...

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  • Lecture
Alan J. Auerbach, the Robert D. Birch Professor of Economics and Law at the University of California, Berkeley, and...
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  • Article
Long-time NBER research associates Joshua Angrist, David Card, and Guido Imbens have been awarded the 2021 Nobel Prize in Economic Sciences in recognition of...
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  • Lecture
The credible estimation of causal effects is a central task of applied econometrics. Two tools for this purpose that...

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