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 ...

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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 ...

In the United States, unemployment insurance (UI) is funded through employer-side payroll taxes that are experience-rated based on previous UI claims. States differ significantly with respect to the ...

While prior studies of language acquisition have focused on schools, we show the overwhelming influence of out-of-school learning. We identify the causal effect of subtitling in a ...

Using newly-collected data on the near-population of U.S. STEM PhD graduates since 1950, we examine who funds PhD training, how many graduates are trained in areas of strategic national importance, ...

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.

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

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 ...

We develop and quantify a novel growth theory in which economic activity endogenously shifts from material production to quality improvements. Consumers derive utility from goods with differing ...

This paper characterizes the dynamic effects of shocks in government spending and taxes on economic activity in the United States in the post-war period. It does so by using a mixed structural ...