We document that the positive differential on international portfolio returns, one aspect of the U.S. exorbitant privilege, has disappeared in three parts. Part One: U.S. international liabilities ...

We provide novel evidence on how healthcare decision-making responds to changes in government recommendations by studying the United States Preventive Services Task Force’s 2009 decision to stop ...

This research considers the role of income for subjective longevity assessments. The analysis uses the 2022 Survey of Consumer Finances. My findings indicate that treating subjective health and ...

In addition to working papers, the NBER disseminates affiliates’ latest findings through a range of free periodicals — the NBER Reporter, the NBER Digest, the Bulletin on Health, and the Bulletin on ...

This paper provides a comprehensive overview of China’s lending to developing countries—a central feature of today’s international financial system. Building on our previous research and the work of ...

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Philippe Aghion, Peter Howitt, and Joel Mokyr. Philippe Aghion, research associate Peter Howitt, and NBER board member Joel ...

Economics students today learn about mercantilism through Smith’s prism, as a series of logical and policy errors that Smith clarified and settled for good. But far from settled doctrine, mercantilism ...

Empirical research has revolutionized how we understand the global economic impacts of climate change. Recent empirical analyses have tested theoretical ideas, challenged prior estimates, and revealed ...

In addition to working papers, the NBER disseminates affiliates’ latest findings through a range of free periodicals — the NBER Reporter, the NBER Digest, the Bulletin on Health, and the Bulletin on ...

In addition to working papers, the NBER disseminates affiliates’ latest findings through a range of free periodicals — the NBER Reporter, the NBER Digest, the Bulletin on Health, and the Bulletin on ...

This chapter reviews the origins, evolution, and modern forms of government, and proposes a research agenda. It contends that rather than being a homogeneous form of patrimonialism, early government ...