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New NBER Papers

- Working Paper
Author(s): Richard Baldwin
Globalisation affects the functioning of the macroeconomy. The macroeconomy’s functioning, in turn, conditions the...
- Working Paper
We use Chinese customs data to show that unofficial non-tariff barriers were responsible for 50\% of the overall...
- Working Paper
We show that exchange rate correlations tend to be explained by the global trade network while consumption...
- Working Paper
Concern exists that public funding of science is increasingly risk averse. Funders have addressed this concern by...
- Working Paper
We develop a stylized model that allows us to estimate a value-added measure for nursing homes (“SNFs”) which accounts...
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The Digest

The Digest is a free monthly publication featuring non-technical summaries of research on topics of broad public interest.

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    The graph is a two-panel event-study figure titled "Right-to-Carry Laws and Urban Firearm Crimes."  The left panel plots the estimated change in the firearm violent crime rate in 47 major US cities, relative to the year before right-to-carry (RTC) is adopted.   The right panel plots the estimated change in the firearm robbery rate in 47 major US cities, also relative to the year before right-to-carry is adopted.  The y-axis in both charts range from -20 to 60 percent, and both x-axes range from five years b
    When states enact Right-to-Carry (RTC) concealed handgun laws, incidents of violent crimes, robberies, and aggravated assaults involving firearms increase by around a third in major cities as a result of the altered behavior of gun permit holders, career criminals, and the police. These adverse crime effects from RTC laws are in part generated by a substantial increase in gun thefts as well as reduced police effectiveness, John J. Donohue, Samuel V. Cai, Matthew V....
    Working paper figure w30087
    National governments that finance their activities by issuing debt must find someone to buy it. The interest rate they must pay to borrow depends on the cost of attracting new buyers, a cost that generally rises along with the outstanding stock of debt. Due in part to government responses to the COVID-19 pandemic, the aggregate government debt-to-GDP ratio is now at its highest level since 2003. Outstanding government debt now exceeds GDP in advanced economies, and is...

The Reporter

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    Figure 1 2022 number 2 Aging Program Report
    Author(s): Jonathan Skinner
    When the NBER’s Program on the Economics of Aging began in 1986 under the direction of David Wise, the baby-boom generation was between the ages of 22 and 40. Long-run projections at the time forecast that the United States would transition to an older population distribution. Today, with baby boomers ranging in age from 58 to 76, that projected future is the ongoing reality of our nation. One-fifth of the population will be age 65 or older in the next decade. Since its...
    Figure 1 2022 number 2 Eriksson summary
    Author(s): Katherine Eriksson
    Individual records from the 1950 US Census were publicly released on April 1, 2022. Economic historians had been waiting for this day for 10 years. This data source, like the individual-level data from earlier censuses, makes it possible to locate the information reported by a specific person. I found the records for my grandparents along with those for my mother, who was born in December 1949. They lived in rural Lincoln County, Kentucky. My grandfather, Bernard...

The Bulletin on Retirement & Disability

The Bulletin on Retirement and Disability summarizes research in the NBER's Retirement and Disabiy Research Center. A quarterly, it is distributed digitally and is free.

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    NBER RDRC Working Paper 21-10 Figure
    Forty percent of US workers have access to employer-provided short-term disability insurance (STDI). This insurance generally pays benefits to disabled workers during the five-month waiting period between disability onset and when Social Security Disability Insurance (SSDI) benefits can commence. By providing income during the waiting period, STDI may encourage more disabled workers to apply for SSDI, leading to more SSDI awards. However, employers who offer STDI have a...
    NBER RDRC Working Paper NB21-16
    Basic facts about the size of the immigrant population, the fraction undocumented, and future trends in these measures are crucial for analysis of Social Security and other public policies. However, there is a lack of quality data on the number of undocumented immigrants that reside in the US at a given point in time, as standard government surveys do not indicate a person’s legal status. In Projecting Trends in Undocumented and Legal Immigrant Populations in the...

The Bulletin on Health

The Bulletin on Health summarizes recent NBER Working Papers pertaining to health topics. It is distributed digitally three times a year and is free.

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    Working Paper Figure w29765
    Millions of elderly veterans are “dually eligible” to receive hospital care in two distinct settings: at public facilities funded by the US Department of Veterans Affairs (VA) or at private hospitals that accept Medicare reimbursement. The choice of setting is consequential for both the costs of their care and health outcomes, as demonstrated in Is There a VA Advantage? Evidence from Dually Eligible Veterans (NBER Working Paper 29765) by David C. Chan, Jr., David Card,...
    Working Paper Figure w29817
    US house prices fell by 34 percent between 2006 and 2012. But the downturn was more severe in some parts of the country than in others. For example, home values in Phoenix and Las Vegas dropped by 46 and 60 percent, respectively. In contrast, house prices in Pittsburgh and Buffalo didn’t fall at all, instead increasing by 5 and 6 percent over this time period.   How did the overall housing downturn, and the associated Great Recession, affect mental health among...

The Bulletin on Entrepreneurship

Introducing recent NBER entrepreneurship research and the scholars who conduct it Subscribe to the Free Bulletin on Entrepreneurship
    Working Paper Figure w29532
    In Private or Public Equity? The Evolving Entrepreneurial Finance Landscape (NBER Working Paper 29532), Michael Ewens and Joan Farre-Mensa survey the changes in the US entrepreneurial finance market over the last two decades. Their study begins by describing the differences between publicly listed and private firms, and then explores how several regulatory, technological, and competitive changes affecting both startups and investors have affected the costs and...
    Working Paper Figure w24982
    Income taxes raise government revenue, finance government spending programs, and redistribute income from high to low earners. These taxes can also induce taxpayers to work less, evade taxes, or move to lower-tax locations. The economic theory of optimal tax design tries to set tax rates to balance these trade-offs. In The Effects of Taxes on Innovation: Theory and Empirical Evidence (NBER Working Paper 29359), Stefanie Stantcheva investigates whether income...
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