We estimate income and taxes for the wealthiest group of US households by matching Forbes 400 data to the individual, business, estate, and gift tax returns of the corresponding group in 2010–2020. In ...

The extent of wealth and income inequality in a society, and trends in these measures, have important implications not only ...

We demonstrate the passthrough of Treasury supply to bank deposits through bank market power. We show that a larger Treasury supply crowds out deposits with disproportionate effects in more ...

The well-known cashless-limiting result in Woodford (1998) has become the theoretical foundation for a large body of work that treats the costs and benefits of holding money as irrelevant for monetary ...

Inequality of opportunity has great normative importance. This has led to a literature on measuring the part of overall inequality that is due to circumstances outside of a person’s control. We ...

In addition to working papers, the NBER disseminates affiliates’ latest findings through a range of free periodicals — the NBER Reporter, the NBER Digest, the Bulletin on Health, and the Bulletin on ...

We provide a number of insights into the nature and consequences of monopsony power through the lens of comparative advantage, where employers’ power in wage setting stems from match-specific rents.

Fertility rates have fallen below replacement in most countries, fueling predictions of demographic collapse and even human extinction. These forecasts overlook a crucial fact: societies are not ...

We examine whether large-scale information interventions can improve college application outcomes in a centralized admissions system. Using nationwide surveys from Chile, we document widespread ...

This paper examines the evolving relationship between religion and economic development in emerging and developing countries (EDCs). Building on large-scale survey data and recent scholarship, we ...

This paper develops a model for optimal airport arrival timing when travellers face uncertain travel times and can potentially board earlier flights. We show that access to earlier flights creates a ...

We propose a middle-ground approach we call practical finance: analytic approximations to optimal solutions as a function of relevant parameters in realistic settings that are easily computed in a ...