Cities around the world, including London, Stockholm, Milan, and most recently, New York City (NYC), have adopted congestion pricing, charging drivers a fee to enter high-traffic zones. The primary ...

How much does pricing pollution cut aggregate emissions, and at what cost? We develop a microfounded equilibrium model of firm production and abatement that can be estimated from standard firm ...

Ex-ante, the government has incentives to delegate monetary policy to a central bank with an inflation targeting mandate. Ex-post, however, the government faces temptations to revoke the mandate to ...

Strands of the literature document four broad error sources: survey coverage, unit non-response, item non-response, and measurement error. Yet the absence of comparable error measures across sources ...

Using a 330-basis-point benchmark for the rate-equivalent wealth benefit, the safe-debt margin—the difference between this benefit and marginal cost—fell from about 250 to 143 basis points. At the CBO ...

We derive four facts from experiments on the spillover effects of cash and in-kind transfer programs onto non-recipients: (1) average spillovers on consumption and asset value are negligible; (2) ...

With complete-information bilateral bargaining in network settings, holdup is eliminated when contracts across the network are agreed atomically (all or none) via a smart contract. Applications ...

State legislatures enacted numerous public-health laws during the twentieth century, most of which likely had negligible effects on mortality. Using data on the universe of state-level public-health ...

AI-generated assessments of manuscripts could improve the quality of peer review, but sharing them with reviewers might decrease the information that editors possess about the manuscript. Human peer ...

The economic burden of natural disasters is shaped by who is exposed, who experiences losses, how those losses alter individual economic trajectories, and how affected communities evolve in the ...

The One Big Beautiful Bill Act (OBBBA, P.L. 119-21) eliminates the federal GradPLUS loan program for new borrowers effective July 1, 2026, replacing nearly two decades of uncapped federal graduate ...

Local elected officials oversee critical infrastructure, often with limited electoral accountability. This paper studies how this distorts investment across California drinking-water systems. We ...