An extensive literature in the social sciences analyzes peer effects among students, but estimation is complicated by several major problems some of which cannot be solved even with random assignment.

The rapid rise in student loan balances has raised concerns among economists and policymakers. Using administrative credit ...

In contrast to earlier United States policies of open war, forcible removal, and relocation to address the “Indian Problem,” the Dawes Act of 1887 focused on assimilation and land severalty — making ...

A number of papers have solved for the optimal dynamic portfolio strategy when expected returns are time-varying and trading is costly, but only for agents with myopic utility. Non-myopic agents ...

Importantly, when Starbucks enters neighborhoods with existing coffee shops, there is no significant effect on entrepreneurship, suggesting the impact is specific to areas with few such “third place” ...

This article provides a concise narrative overview of the rapidly growing empirical literature on financial literacy and financial education. We first discuss stylized facts on the demographic ...

Generative Artificial Intelligence (AI) is a potentially important new technology, but its impact on the economy depends on the speed and intensity of adoption. This paper reports results from the ...

Daron Acemoglu, Simon Johnson, and James Robinson. Research associates Daron Acemoglu, Simon Johnson, and James Robinson have ...

Concerns over the excessive use of mobile phones, especially among youths and young adults, are growing. Leveraging administrative student data from a Chinese university merged with mobile phone ...

Bucky’s Tuition Promise (BTP) at the University of Wisconsin–Madison offers generous financial aid to low-income, in-state students. Unlike many similar programs at other public universities, ...

Previous studies document the potential links between early-life insults and life-cycle outcomes. However, fewer studies examine the effects of local labor market shocks during early-life on old-age ...

This paper investigates why the U.S. unemployment rate rose only a few percentage points despite the dramatic decline in government spending and other upheaval at the end of World War II. Using a new ...