What lies at the core of inequality among nations? Unified Growth Theory explores the evolution of societies over the entire course of human history. It uncovers the universal wheels of change that ...

This paper investigates the theory and evidence that history plays a role in shaping the direction of international trade. Because there are reasons to anticipate a positive correlation between the ...

This paper examines how the concept of embedded culture played a transformative role in the ongoing cultural revolution within economics and business. We trace the field's shift from the 20th-century ...

We investigate conditions sufficient for identification of average treatment effects using instrumental variables. First we show that the existence of valid instruments is not sufficient to identify ...

Previous research on unemployment insurance (UI) has focused on the costs of the program, in terms of the distorting effects of generous UI benefits on worker and firm behavior. For assessing the ...

This paper reconsiders the Phelps-Lucas hypothesis, according to which temporary real effects of purely nominal disturbances result from imperfect information, but departs from the assumptions of ...

The Census Bureau’s Longitudinal Business Database (LBD) underpins many studies of firm-level behavior. It tracks longitudinally all employers in the nonfarm private sector but lacks information about ...

Blanchard, Olivier J. and Lawrence H. Summers. "Hysteresis and the European Unemployment Problem," NBER Macroeconomics Annual, Stanley Fischer, ed. Vol 1, Fall 1986 ...

Using comprehensive loan-level data in China, we investigate how the deregulation on bank entry barriers alters local banking industrial organisation and its economic consequences. We document a novel ...

The economic costs of environmental regulations have been widely debated since the U.S. began to restrict pollution emissions more than four decades ago. Using detailed production data from nearly 1.2 ...

A new study of German and Swedish data finds that men’s earnings increase following a couple’s move to a new commuting zone, while women’s earnings stay the same or decline at the outset. Couples are ...

Cracks in the Glass Ceiling and Gender Equality: Do Exports Shatter the Glass Ceiling?