In early April, following his Senate confirmation, Jay Bhattacharya, a Professor of Medicine at the Stanford Medical School, ...

We study the effects of social media political advertising by randomizing subsets of 36,906 Facebook users and 25,925 Instagram users to have political ads removed from their news feeds for six weeks ...

To study the causal role of income on children’s development, the Baby’s First Years randomized control trial provided families with monthly unconditional cash transfers. One thousand racially and ...

Conditionality can prevent poor households from receiving cash transfers. Re-analyzing five randomized evaluations of conditional cash transfers, we find: (1) non-compliers — households that do not ...

In this paper we investigate the impact of mask mandates in schools on COVID spread. We use event study and difference-in-differences models that exploit the removal of mask mandates in districts ...

We document the structural transformation of innovation using historical patent data since the 1850s, along with R&D expenditure and TFP growth for the post-war period. Over time, innovation has ...

The COVID business cycle was unique. The recession was by far the deepest and shortest in the U.S. postwar record and the recovery was remarkably rapid. The cycle saw an unprecedented reallocation of ...

Our identification strategy is based on the exogenous rotation of voting rights among Reserve Banks and on within borrower-time and district-time variation in DW loans and Federal Home Loan Bank (FHLB ...

We find that an unanticipated tightening of US monetary policy tends to raise US import prices. This empirical “spill-back” pattern differs from the predictions of typical open-economy macro models.

Our primary empirical findings are that the age-friendliness of Korean jobs grew more slowly than in the US, and that older Koreans were not the main beneficiaries of these jobs. Both findings reflect ...

For example, killing enemy combatants may create martyrs, while targeting civilians may lower their pro-war morale. We solve this problem by leveraging a natural experiment in Japan in which military ...

We construct a novel measure of partisan corporate speech using natural language processing techniques and use it to establish three stylized facts. First, the volume of partisan corporate speech has ...