This paper argues that if policymakers seek to enhance global liquidity, then the international community must provide a higher and better coordinated level of fiscal support than it has in the past.

This paper explores past episodes of technological disruption in the US labor market, with the goal of learning lessons about the likely future impact of artificial intelligence (AI). We measure ...

This paper assesses the potential impact of FinTech on the finance industry, focusing on financial stability and access to services. I document first that financial services remain surprisingly ...

We build and analyze new metrics of digital usage that leverage telemetry data collected by Microsoft during operating system updates across forty million Windows devices in U.S. households. These ...

This page contains the NBER collection of Birth Cohort Linked Birth and Infant Death Data of the National Vital Statistics System of the National Center for Health Statistics. The microdata for each ...

The Program on the Economics of Aging studies the health and economic circumstances of individuals as they age with particular emphasis on late-life experiences, as well as the broader economic ...

General purpose technologies like information technology typically require complementary firm-specific investments to create value. These complementary investments produce a form of capital, which is ...

In this paper, we describe the evolution of the Federal Reserve’s swap lines from their inception in 1962 as a mechanism to forestall claims on U.S gold reserves under Bretton Woods to a means of ...

The United States has a long and ongoing history of racial inequality. This paper surveys the literature on one aspect of that history: long-run trends in racial differences in health. We focus on ...

The economic emergence of a fixed exchange rate periphery in Asia has reestablished the United States as the center country in the Bretton Woods international monetary system. We argue that the normal ...

This paper re-evaluates the effectiveness of temporary transfers in stimulating the macroeconomy using evidence from four case studies. The rebirth of Keynesian stabilization policy has lingering ...

First, labor demand decreases in the average exposure of workers' tasks to AI technologies; second, holding the average exposure constant, labor demand increases in the dispersion of task exposures to ...