Large language models (LLMs) are lowering the entry barriers to working with exciting data sources that used to require strong data science skills, such as handwritten ledgers, text, images, or sound ...

GLP-1 medications generate large weight loss and may also alter social and economic outcomes. Using the Understanding America Study, I compare women starting GLP-1s for weight loss with matched women ...

This paper studies how geopolitical risk shapes financial fragmentation and international risk-sharing, using bilateral official lending data from 1910 to 2024. We document that when geopolitical risk ...

Real GDP per person is a widely used proxy for living standards, but it can be a poor welfare measure when new goods or quality improvements matter, when nonmarket goods are significant, and when ...

We study the equilibrium effects of financial repression on government funding costs in an endowment economy with limited asset market participation. We show how a broad set of repression policies ...

Health care reforms are often enacted before implementation, creating uncertainty that can shape firms’ decisions. We examine how Medicare Part D affected the retail pharmacy industry using 2000-2009 ...

Modern theories of the business cycle do not allow for the simultaneous rational choice of both prices and quantities, instead assuming that an “invisible hand” determines one of these variables to ...

The asset management industry is increasingly shifting toward tailored portfolios, fund proliferation, and decentralization of stewardship—trends partly driven by growing heterogeneity in investor ...

We study fragility in semi-liquid private credit funds, which have expanded rapidly and now manage over $300 billion in assets. These funds perform liquidity transformation by holding far more ...

Boudreaux, Brandy Lipton, and Melissa McInerney, "When Medicaid Pays the Bill: Routine Vision Benefits, Eye Care Use, and Eyeglasses Spending Among Dual-eligible Medicar ...

We use this framework to evaluate the effects of three policy levers for Europe that affect the effective size of the euro: internal harmonization and enlargement, trade openness, and capital-account ...

What information do policymakers need to design Pigouvian taxes or subsidies? Standard logic suggests that it is sufficient to know the size of the externality and unnecessary to know about quantities ...