We document that the positive differential on international portfolio returns, one aspect of the U.S. exorbitant privilege, has disappeared in three parts. Part One: U.S. international liabilities ...
We provide novel evidence on how healthcare decision-making responds to changes in government recommendations by studying the United States Preventive Services Task Force’s 2009 decision to stop ...
This research considers the role of income for subjective longevity assessments. The analysis uses the 2022 Survey of Consumer Finances. My findings indicate that treating subjective health and ...
This paper provides a comprehensive overview of China’s lending to developing countries—a central feature of today’s international financial system. Building on our previous research and the work of ...
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How does community rating distort relative prices for vertically differentiated plans in insurance markets? We show that common community-rating approaches can distort price differentials in the ...
Philippe Aghion, Peter Howitt, and Joel Mokyr. Philippe Aghion, research associate Peter Howitt, and NBER board member Joel ...
Economics students today learn about mercantilism through Smith’s prism, as a series of logical and policy errors that Smith clarified and settled for good. But far from settled doctrine, mercantilism ...
We estimate the impact of education on voter turnout and partisanship using a regression discontinuity design based on school-entry cutoffs and exact date of birth. Drawing on nationwide ...
This brief survey reviews recent work on transportation in poor and middle-income countries. After reviewing a few key global facts and taking stock of the data available, it focuses on eight key ...
This narrative paper provides a detailed account of the Great Inflation in the United Kingdom from 1961 to 1997, serving as a companion to the analytical account of fiscal policy presented in Bordo, ...
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