The NBER Board of Directors appointed 35 Research Associates at its September 2026 meeting. Research Associates must be tenured faculty members at North American colleges or universities; their ...

Mark Mason, Jack Porter, and Mark Wolfson were elected to the NBER Board of Directors at the Board’s September 28 meeting.

Karen Mills was elected Chair of the NBER’s Board of Directors, and Douglas Peterson was elected Vice Chair, at the board’s ...

The Opportunity Zone (OZ) program, created under the 2017 Tax Cuts and Jobs Act, represents one of the largest place-based economic development initiatives in US history. It offers substantial capital ...

We study the macroeconomic and trade-policy implications of disruptions to U.S.-bound shipping routes. Standard models treat them as iceberg-cost shocks, conflating the shock with the response to it.

We study how the shale revolution and the U.S. transition from petroleum importer to net exporter have changed the macroeconomic effects of oil shocks. Using oil supply news shocks identified from ...

This study examines a housing program that created affordable infill developments on formerly vacant, abandoned, or disinvested properties in Savannah, Georgia. Savannah is a major economic hub ...

We measure how artificial intelligence (AI) affects the economy through its impact on software engineering productivity. We use information from financial markets to develop a forward-looking measure ...

We use newly linked IRS data to study how US multinationals use tax-planning structures that exploit mismatches between US and foreign tax laws. In 2016, these structures accounted for 36% of foreign ...

This paper estimates the effect on international trade of multilateral trade agreements: the World Trade Organization (WTO), its predecessor the Generalized Agreement on Tariffs and Trade (GATT), and ...

We study optimal tariffs in a model consistent with these facts. Firms pay a fixed cost to import and charge markups that increase with size. Market power implies that importers are too few and too ...

Yet evidence shows that households hold heterogeneous subjective models---distinct beliefs about how macroeconomic variables interact. As a result, identical shocks or policies may elicit different ...