This paper analyzes 630,000 paintings from 1400 onward to uncover how visual art reflects its socioeconomic context. We develop a learning algorithm to predict nine basic emotions conveyed in each ...

We show long-term Treasury convenience yields are more sensitive to changes in Treasury supply than short-term Treasury convenience yields. The fiscal expansion in the past two decades and the ...

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Small businesses have long supplied a disproportionate share of major innovations in the United States. We review a centerpiece policy on this topic: the US Small Business Innovation Research (SBIR) ...

We consider the impact of these hours requirements on students and postsecondary institutions, with a particular focus on cosmetology (also known as hairstyling or beauty). Cosmetology licensing ...

Our findings offer insights into how blockbuster products shape firms' customer segment and innovation choices, with implications for understanding the dynamics of technological change in ...

This paper tests whether mergers between nursing home chains and independent facilities affect quality of care using facility-level data from 1999-2019. Staggered difference-in-differences estimates ...

We estimate an equilibrium model of car attribute production using U.S. household microdata for 1995–2017 and structurally decompose attribute trends into underlying mechanisms. We find that technical ...

This paper develops a framework to quantify racial disparities in earnings and employment that are not plausibly due to differences in productivity. Over an employment cycle, employers learn about ...

Using Eurobarometer data for 21 Western European countries since 1973 we show the U-shape in life satisfaction by age, present for so long, has now vanished. In 13 northern European countries - ...

We develop a quantitative New Keynesian DSGE model with monopolistic banks to study the macroeconomic effects of introducing a central bank digital currency (CBDC). Households benefit from an ...

We study how uncertainty propagates through production networks. First, we construct a highly disaggregated, forward-looking measure of industry-level uncertainty using option-implied volatility data ...