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.

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 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 ...

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 ...

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 ...

We revisit the classic identification problem of separating supply and demand for a homogeneous good using data from multiple markets. We allow markets to be heterogeneous according to unobservables, ...

Recently the global economy has experienced several major shocks yet EMEs have been remarkably resilient. Some of this improved performance can be attributed to prudent policies and stronger economic ...

This paper examines the labor market effects of overtime coverage in the United States, where salaried workers are covered for overtime if their base pay falls below a legislated salary threshold.

This paper studies social insurance with imperfect eligibility screening, focusing on Unemployment Insurance (UI) during its expansion in 2020 and 2021. We study the extent of imperfect screening by ...

We empirically investigate whether such “retrieval failures” distort consumption smoothing behavior among Zambian farmers, who derive their income from one annual harvest and then spend it down over ...