This paper seeks to explain the U-shaped relationship between farm productivity and farm scale - the initial fall in productivity as farm size increases from its lowest levels and the continuous ...

The NBER has awarded four Robert Summers fellowships that enable economic statisticians to attend the Conference on Research in Income and Wealth (CRIW) meeting on July 20–21, 2026, in Cambridge, MA.

This paper uses administrative data to analyze wealth flows from Norway to offshore tax havens before and after a major improvement of global financial transparency: automatic exchange of bank account ...

We study human capital in venture capital (VC) using a new dataset covering over 100,000 professionals affiliated with U.S. VC firms. Investment success is extremely concentrated: fewer than 40% of ...

We consider why fertility has fallen in recent decades in almost all high-income countries. We begin by documenting declining total fertility and rising childlessness across cohorts, highlighting the ...

We study the causes and consequences of bank runs. By applying large language models to historical newspapers, we create a comprehensive database of bank runs in U.S. history with information on 3,984 ...

Physicians in the U.S. military health care system are quasi-randomly assigned to combat deployments, leading to gaps of varying durations in their clinical practice. We leverage this unique setting ...

The rise of superstar firms has made dominant companies central to modern economic life, and antitrust enforcement is one of the main policy tools for regulating their market power. Public opinion can ...

This paper explores the symbiotic relationship between transformative entrepreneurs and inventors, which is crucial for economic growth. We utilize microdata from Denmark to demonstrate that while the ...

We estimate a forward-looking monetary policy reaction function for the postwar US economy, pre- and post-October 1979. Our results point to substantial differences in the estimated rule across ...

We estimate the impact of increases in family size on childhood and adult outcomes using matched mother-child data from the National Longitudinal Survey of Youth 1979. Using twins as an instrumental ...

This paper proposes that the adoption of the modern U.S. mortgage (i.e., low down payment, long-term, and fixed-rate)—led by the Federal Housing Administration (FHA) and Veteran’s Administration (VA) ...