This history of the Great Depression was prepared for The Cambridge Economic History of the United States. It describes real and imagined causes of the Depression, bank failures and deflation, the Fed ...

In addition to working papers, the NBER disseminates affiliates’ latest findings through a range of free periodicals — the ...

We conduct an experimental analysis of selective disclosure in communication. In our model, an informed sender aims to influence a receiver by disclosing verifiable evidence that is selected from a ...

Valerie Ramey, an NBER Research Associate in the Economic Fluctuations and Growth and Monetary Economics Programs, Senior Fellow at the Hoover Institution at Stanford University, and Professor of ...

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 ...

In sweeping conversations about the impact of artificial intelligence on many sectors of the economy, health care has received relatively little attention. Yet it seems unlikely that an industry that ...

Post-covid inflation was predominantly driven by unexpectedly strong demand forces, not only in the United States, but also in the Euro Area. In comparison, the inflationary impact of adverse supply ...

We leverage a unique two-stage experiment that randomized access to private school vouchers across markets as well as students to estimate the revealed preference value of school choice. To do this, ...

This paper evaluates the social value of investing in vaccine research, development, and manufacturing capacity for pandemic preparedness and response. Rapid vaccination during pandemics can ...

Primary historical sources are often by-passed for secondary sources due to high human costs of accessing and extracting primary information–especially in lower-resource settings. We propose a ...

In the past decade, a new paradigm for fiscal and monetary policy analysis has emerged, combining the canonical macro model of income and wealth inequality with the New Keynesian model. These ...

Digital technologies are bringing vast improvements to modern society but also carry the risk of perpetuating disparities if adopted at lower rates by underserved communities. We investigate the ...