We study sovereign external debt crises over the past 200 years, with a focus on creditor losses, or “haircuts”. Our sample covers 327 sovereign debt restructurings with external private creditors ...

Following a call for nominations in January, the NBER has appointed 63 new affiliates: 19 Research Associates and 44 Faculty Research Fellows. In addition, six Faculty Research Fellows have been ...

Darrick Hamilton and Barry Melancon. At its meeting on April 28, the NBER Board of Directors elected two new members: Darrick ...

Darrick Hamilton and Barry Melancon. Hamilton will represent the American Federation of Labor and Congress of Industrial ...

My research with collaborators digs deeper into the workings of specific War on Poverty programs, seeking evidence about ...

A central debate in economics concerns the relationship between competition and innovation, with some stressing that competition discourages innovation by reducing post-innovation rents and others ...

We estimate local fiscal multipliers and spillovers for the United States using a rich dataset based on U.S. Department of Defense contracts and a variety of outcome variables relating to income and ...

The majority of children in the U.S. and many other high-income nations are now cared for many hours per week by people who are neither their parents nor their school teachers. The role of such ...

As is widely recognized, real interest rates in the early 1980s were at peaks not witnessed since the late 1920s. Less well perceived is the sharp decline in real interest rates since 1984. By 1986-88 ...

Following a call for nominations in January, the NBER has appointed 63 new affiliates: 19 Research Associates and 44 Faculty Research Fellows. In addition, six Faculty Research Fellows have been ...

Despite the important roel played by GATT in the world economy, economist have nto developed a unified theoretical framework that interprets and evaluates the principles that form the foundation of ...

Using 472 FOMC meetings (1969–2019) and the exogenous rotation of voting rights among Reserve Bank presidents, we identify meetings where local economic conditions in voting districts significantly ...