This paper shows the key, yet overlooked, role played by the legacy of a high inflation history on the strength of the monetary policy response to inflationary shocks. To rationalize this, we propose ...

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 ...

In Davis and Gertler (2015), we used household-level microdata from Mexico to predict future air conditioning adoption as a function of income and temperature. Revisiting these predictions with 12 ...

This paper explores whether misperceptions about air pollution contribute to environmental inequality in the United States. We use a two-part survey experiment to elicit respondents' beliefs about ...

The central appeal of environmental markets – efficient allocation of emission reductions – has been difficult to establish empirically. We develop a framework linking the theoretical change in ...

We use a novel dataset of production costs, wholesale prices, and retail prices from a large global manufacturer to study markups and pricing behavior along the supply chain. We document several facts ...

As geopolitical tensions intensify, great powers often turn to trade policy to influence international alignment. We examine the optimal design of tariffs in a world where large countries care not ...

This paper tests how people’s moral values influence their views of debt contracts. We ask participants to make decisions about debt contracts in different hypothetical situations (vignettes). We ...

Informational nudges to encourage energy conservation or load shifting have been tried in various contexts. This paper studies a program run by a small municipally owned electric utility to reduce ...

Strategic models of legislative bargaining predict that proposers can extract high shares of economic surplus by identifying and exploiting weak coalition partners. However, strength and weakness can ...

Novel co-inventors introduce new products or services with the potential for large returns, but do so at high costs and with uncertain outcomes. Similar firms investing in incremental co-invention ...

This paper examines how entrepreneurs strategically design experiments to convince venture capitalists (VCs) to fund their projects when investors interpret data through heterogeneous statistical ...