During academic year 2024-25, the NBER is providing fellowship support for graduate students studying the economics of aging and health, behavioral macroeconomics, and consumer financial management.

We present a dynamic two-country model in which military spending, geopolitical dominance, and government bond prices are jointly determined. The model reflects three facts: hegemons enjoy a funding ...

Current technological developments in a number of industries, such as the rise of artificial intelligence and innovations ...

Lab-in-the-field experiments, in which lab experiments are conducted in more naturalistic settings, are increasingly being implemented in developing country contexts. In this chapter, we outline the ...

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Top income inequality in the United States has increased considerably within occupations. This phenomenon has led to a search for a common explanation. We instead develop a theory where increases in ...

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

Published Versions Majluf, Nicholas S. and Stewart C. Myers. "Corporate Financing and Investment Decisions When Firms Have Information That Investors Do Not Have," Journal of Financial Economics, Vol.

Theoretical rationales for employer-provided pensions often focus on their ability to increase employee effort and selectively retain quality workers. We test these hypotheses using rich ...

This paper considers why fertility has fallen to historically low levels in virtually all high-income countries. Using cohort data, we document rising childlessness at all observed ages and falling ...

Wade and triggering laws in many states that ban or severely restrict abortions, the Supreme Court’s landmark 2022 Dobbs decision dramatically altered the landscape for reproductive health in the U.S.

The U.S. net foreign asset position has declined sharply since 2007 and is currently negative 65 percent of U.S. GDP. This deterioration primarily reflects a U.S.-specific rise in corporate asset ...