Skip to main content


The NBER conducts and disseminates independent, cutting-edge, non-partisan research that advances economic knowledge and informs policy makers and the business community.

New NBER Papers

- Working Paper
In over-the-counter (OTC) markets, customers search for counterparties. Little is known about this process, however,...
- Working Paper
We study the effects of dollar swap lines using high frequency responses in asset prices around policy announcements...
- Working Paper
Tax harmonization entails a uniform rate that may not suit all governments. Harmonization can advance collective...
- Working Paper
This article reviews the literature on automation and its impact on labor markets, wages, factor shares, and...
- Working Paper
This paper develops a unified theory of blockholder governance and the voting premium, in a setting without takeovers...
Keep Track of New NBER Working Papers with New This Week

The Digest

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

Subscribe to the Free Digest

    Article Legal Changes in the 1960s Narrowed the Gender Pay Gap Figure w31332
    Two landmark pieces of federal legislation in the early 1960s targeted pay discrimination against women. In How the 1963 Equal Pay Act and 1964 Civil Rights Act Shaped the Gender Gap in Pay (NBER Working Paper 31332), Martha J. Bailey, Thomas E. Helgerman, and Bryan A. Stuart present new estimates of how these bills affected gender-based pay disparities. The study analyzes data from the 1950–60 Census and the 1962–75 Annual Social and...
    Article The Role of Mega Firms in Patenting and Follow-On Innovation figure 31460
    “Mega firms,” defined as the 50 publicly traded firms in the US with the highest annual sales, hold a disproportionate share of novel patents and may play a key part in spreading innovative ideas to smaller firms, Serguey Braguinsky, Joonkyu Choi, Yuheng Ding, Karam Jo, and Seula Kim found in Mega Firms and Recent Trends in the US Innovation: Empirical Evidence from the US Patent Data (NBER Working Paper 31460). The researchers...

The Reporter

The Reporter is a free quarterly publication featuring program updates, affiliates writing about their research, and news about the NBER.

Subscribe to the Free Reporter

    Mario Draghi
    Presented by Mario Draghi, former President, European Central Bank, and former Prime Minister, Italy The NBER is a cornerstone of economic thinking worldwide. Since its foundation over a century ago, its members have pushed the boundary of academic research to an extent that was simply unimaginable at that time. You have also guided the work of policymakers and contributed to making the world a better place. I am personally very grateful for the research you have produced...
    Map of the united states
    This article surveys our recent work on the economic effects of corporate taxes, first discussing research on the effects of state corporate tax cuts and then considering how federal tax policies that encourage investment impact workers. It concludes by outlining new avenues for research on related issues. State Corporate Taxes and Local Economic Activity Local and state policymakers compete to attract companies to their jurisdictions. Proponents of using business tax...

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.

Subscribe to the Free Bulletin on Retirement & Disability

    The Social Security Administration (SSA) convened its 2023 Retirement and Disability Research Consortium (RDRC) Meeting virtually on August 3–4. The meeting featured research funded through the NBER RDRC as well as through other RDRC centers based at Boston College, the University of Michigan, and the University of Wisconsin. Kilolo Kijakazi, Acting Commissioner of the SSA, provided welcoming remarks. She began by remembering Dr. William Spriggs, chair of the Department...
    Inter-state Variation in Disability Applications during the Pandemic figure
      The COVID-19 pandemic and its associated health and economic burdens have unfolded quite differently across states in the US. These differences are due to a variety of factors, including population density, socioeconomic status, health, and state policies. Variation across states in the timing and magnitude of the pandemic as well as in state characteristics and policies may have affected the dynamics of federal disability applications during this period. In...

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.

Subscribe to the Free Bulletin on Health

     Drinking Water Contamination, Even at Low Levels, Affects Birth Outcomes
    The Safe Drinking Water Act regulates over 90 contaminants — such as lead and arsenic — in community water systems. These regulations establish maximum contaminant levels (MCLs) for each contaminant; levels that exceed MCLs are considered violations. However, even among water systems that meet regulatory standards, the levels of contaminants can vary. In Drinking Water Contaminant Concentrations and Birth Outcomes (NBER Working Paper 31567), researchers Richard DiSalvo and...
    Opening a PCI Facility Improves Heart Attack Outcomes, Especially for Black Patients figure
    In the aftermath of a heart attack, Black patients are less likely than White patients to receive percutaneous coronary intervention (PCI), a procedure that improves blood flow in the heart. They also have higher one-year mortality rates following heart attacks. In Do PCI Facility Openings Differentially Affect AMI Patients by Individual Race and Community Segregation? (NBER Working Paper 31626), Renee Y. Hsia and Yu-Chu Shen demonstrate that the opening of a new PCI-...

The Bulletin on Entrepreneurship

Introducing recent NBER entrepreneurship research and the scholars who conduct it Subscribe to the Free Bulletin on Entrepreneurship
    Striking a Balance between Entrepreneurs and Investors figure
    In Do Entrepreneurs Want Control? And Should They Get What They Want? A Historical and Theoretical Exploration (NBER Working Paper 31106), Naomi R. Lamoreaux and Jean-Laurent Rosenthal develop a model of startup financing in which founders and outside investors compete for control of the firm. They apply their framework to study how companies’ outcomes, in particular subsequent innovations, are influenced by which group has the upper hand. The researchers find that no...
    C-Suite Differences: Public versus Privately Held Firms figure
    Private equity (PE) firms’ business model is to acquire privately held companies, to change their strategy and operations with the goal of improving profitability and growth, and ultimately to sell the companies for a profit. The senior management team is replaced at a majority of private equity acquisitions. More than 40 percent of PE firms report that this is a key way to improve their acquisitions’ success. In The Market for CEOs: Evidence from Private Equity (...
Explore NBER-Based Research Projects
Learn about NBER Affiliated Scholars