To fill these gaps, beneficiaries must actively choose among several insurance options—enrolling in Medicare Advantage, adding private supplemental insurance to traditional Medicare, or, for those ...

The employment rate for men declines by 18 percentage points between ages 51 and 61. If that decline were cut in half, the authors calculate that the average cognitive score would increase by about ...

The NBER Board of Directors appointed 35 Research Associates at its September 2026 meeting. Research Associates must be tenured faculty members at North American colleges or universities; their ...

Analyses of survey data may be confounded if people use response scales differently. We formalize and generalize the theory behind using “calibration questions,” such as vignettes, to correct for ...

The impact of AI on the employment prospects of recent college graduates is hotly debated with no consensus on the magnitude of impacts nor even the timing of those potential impacts. Using CPS ...

Policies restricting gun sales face substantial political opposition and constitutional constraints. In this paper, we ask how costly it would be to induce potential hand-gun buyers to choose less ...

Mark Mason, Jack Porter, and Mark Wolfson were elected to the NBER Board of Directors at the Board’s September 28 meeting.

We propose a general equilibrium model in which U.S. monetary policy affects global risk premia by revaluing the wealth of currency-mismatched arbitrageurs. Assuming their portfolios are mean-variance ...

We study the role of foreign ideas in U.S. innovation by constructing a directed “genealogy” of technologies from the full text of 13 million patents filed between 1887 and 2024. By tracing which ...

This paper examines the revenue and migration impact of the 2026 California Billionaire Tax Act, a one-time 5 percent tax on the worldwide net worth of individuals exceeding $1 billion. Using data ...

Market power may arise not only from firms, but also from individual salespeople who can exploit informational advantages over consumers. We explore this phenomenon in the mortgage market by examining ...

China launched a nationwide, rate-based carbon market in 2021. Covering the world’s top CO2 emitter, compliance depends on the intensity of carbon emissions rather than an absolute cap. We draw on the ...