The benefits of new technologies accrue not only to high‐skilled labor but also to owners of
capital in the form of higher capital incomes. This increases inequality. To make this …

Much of neoclassical economics is concerned with prices—more specifically, with relative
prices. Similarly, economists have studied behavior in the face of risk and uncertainty for at …

We study how tax policies that lower the cost of capital impact investment and labor demand.
Difference-in-differences estimates using confidential Census Data on manufacturing …

The “shutdown” economy of April 2020 is compared to a normally functioning economy both
in terms of market and nonmarket activities. Three novel methods and data indicate that a …

The extent of voluntary cooperation in the presence of externalities is shown as an
equilibrium outcome in the supply and demand framework. The analysis uses familiar …

Price theory says that the most important effects of policy and technological change are often
found beyond their first point of contact. This appears opposed to econometric methods that …

Were workers more likely to be infected by COVID-19 in their workplace, or outside it?
Although both economic models of the pandemic and public health policy recommendations …

More than a dozen Federal policy changes since the year 2000 have affected incentives to
prescribe, manufacture, and purchase both prescription and illicitly-manufactured opioids …

In theory, equilibrium profits for drug patent holders would not involve significant restraints
on production and patient utilization if the market had a mechanism for two-part pricing (Oi …

Research summary Do former star performers become superior managers? If so, why?
Using performance data from a professional sports league, this study finds that …