Research
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
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Working Paper
Research at the intersection of development and spatial economics is increasingly important to address pressing issues...
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Working Paper
We examine the determinants and the dynamics of the exchange rate pass-through of the Japanese exporters, utilizing...
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Working Paper
We examine the link between the diffusion of artificial intelligence (AI) enabled technologies and changes in the...
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Working Paper
We examine job-seekers' heterogeneous preferences for nonwage amenities, with a focus on environmental, social, and...
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Working Paper
In this paper we provide a simple and intuitive story for supply chain disruptions driven by the rigidities in the...
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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.

Article
Local land use and state and federal environmental regulations proliferated in the early 1970s. About this time, US residential construction productivity began to decline; today, it is close to the level of the 1930s. In contrast, manufacturing productivity has risen for many decades. In the auto industry, for example, it has risen from 4.8 cars per employee per year in 1939 to around 25 per employee per year by 2020.In Why Has Construction Productivity Stagnated? The Role...

Article
In Decarbonizing Heat: The Impact of Heat Pumps and a Time-of-Use Heat Pump Tariff on Energy Demand (NBER Working Paper 33036), researchers Louise Bernard, Andy Hackett, Robert D. Metcalfe, and Andrew Schein study the impact of heat pumps, a low-carbon alternative to gas boilers, on household energy demand. They analyze data from Octopus Energy, a global energy supplier, focusing specifically on residential heat pump installations in the UK. Their data sample includes the...
The Reporter
The Reporter is a free quarterly publication featuring program updates, affiliates writing about their research, and news about the NBER.

Article
Author(s):
The Market Design Working Group, established in 2009 under the leadership of Susan Athey and Parag Pathak, is a preeminent research forum in the field of market design. The working group meets annually, alternating between Cambridge, Massachusetts, and Palo Alto, California, to present research that bridges theoretical economics and practical applications, all focused on what The Economist aptly characterized as “an intelligently designed invisible hand.”1 Research in market...

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Author(s):
The rapid advancement of artificial intelligence (AI) may usher in the most significant economic transformation since the Industrial Revolution. For nearly a decade, as I witnessed the continuous progress in deep learning, I have been studying the economics of transformative AI — how our economy may be transformed as AI systems advance toward mastering all forms of cognitive work that can be performed by humans, including new tasks that don’t even exist yet. The prospect of...
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.

Article
In Health Inequality and Economic Disparities by Race, Ethnicity, and Gender (NBER Working Paper 32971 an earlier version, NBER RDRC Paper NB23-11), Nicolò Russo, Rory McGee, Mariacristina De Nardi, Margherita Borella, and Ross Abram use data from the Health and Retirement Study over the period 1996–2018 to evaluate measures of health inequality in middle age and the consequences of such health disparities. At age 55, Black men and women...

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In How Do Economic Conditions Affect Earnings and Return to Disability Programs for Beneficiaries Whose Benefits Were Terminated? (NBER RDRC Paper NB22-03), Jeffrey Hemmeter, Kathleen Mullen, and Stephanie Rennane find that individuals whose benefits end due to medical improvement during an economic downturn earn less in the short run and are more likely to reapply for benefits within five years than those whose benefits end during stronger...
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.

Article
In the Netherlands, there are striking socioeconomic differences in mortality among older adults, with a 4.4 percentage point (67 percent) higher five-year mortality rate for 70-year-old individuals with below-median income than for those with above-median income. To better understand the role of chronic disease in these health disparities, Kaveh Danesh, Jonathan T. Kolstad, William D. Parker, and Johannes Spinnewijn develop an index of chronic disease burden in The Chronic...

Article
Tiny, inhalable particles known as fine particulate matter (PM2.5) are a primary component of wildfire smoke and are detrimental to human health. Since smoke can drift hundreds of miles from its source, exposure to these pollutants is widespread: wildfire smoke accounts for about 18 percent of the ambient PM2.5 concentrations affecting the US population. In The Nonlinear Effects of Air Pollution on Health: Evidence from Wildfire Smoke (NBER Working Paper 32924), Nolan H...
The Bulletin on Entrepreneurship
Introducing recent NBER entrepreneurship research and the scholars who conduct it

Article
Sociologists have argued that “third places” like cafés, which provide opportunities for individuals to socialize and exchange ideas outside of home and work, improve neighborhood life. But what about the relationship between such places and economic activity? In Third Places and Neighborhood Entrepreneurship: Evidence from Starbucks Cafés (NBER Working Paper 32604), researchers Jinkyong Choi, Jorge Guzman, and Mario L. Small use data on US business...

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In Stock Market Wealth and Entrepreneurship (NBER Working Paper 32643), Gabriel Chodorow-Reich, Plamen T. Nenov, Vitor Santos, and Alp Simsek evaluate the relationship between the performance of a household’s stock market portfolio and the likelihood that someone in that household launches an entrepreneurial venture. They analyze administrative data from Norway’s shareholder register and compute the holdings of every Norwegian household in all...
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