This paper examines a model of dynamic price adjustment based on the assumption that information disseminates slowly throughout the population. Compared to the commonly used sticky-price model, this ...

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.

In research conducted in collaboration with Arkey Barnett at the University of Michigan and Meghan Beal at the National Sheriffs’ Association, we investigate the effects of innovative investments in ...

Using a comprehensive dataset of posts from a major platform for anime- and manga-style artwork, we study the impact of the launch of a prominent text-to-image generative AI. Focusing on the majority ...

How much and how fast should the globe reduce greenhouse-gas emissions? How should nations balance the costs of the reductions against the damages and dangers of climate change? This question has been ...

This paper studies the labor market effects of recent state-level policies that require employers to disclose salary information in job postings. Leveraging a difference-in-differences design, we show ...

Science, Technology, Engineering, and Math (STEM) jobs are a key contributor to economic growth and national competitiveness. Yet STEM workers are perceived to be in short supply. This paper shows ...

Christian Valencia received his Ph.D. in Agricultural and Applied Economics from the University of Illinois at Urbana-Champaign. His research sits at the intersection of labor and agricultural ...

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 ...

Nursing homes certified by the Centers for Medicare & Medicaid Services to provide care and receive public reimbursement through Medicare and Medicaid are subject to mandatory annual inspections.

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 ...