Defensive hiring of researchers by incumbent firms with monopsony power reduces creative destruction. This mechanism helps explain the simultaneous rise in R&D spending and decline in TFP growth in ...

Trade and industrial policies, while primarily intended to support domestic industries, may unintentionally stimulate technological progress abroad. We document this mechanism in the case of rare ...

How large is the impact of artificial intelligence (AI) on labor productivity and unemployment? This paper introduces a labor-search model of technological unemployment, conceptualizing the generative ...

Steve Jobs described computers as “bicycles for the mind,” a tool that allowed people to dramatically leverage their capabilities. This paper presents a formal model of cognitive tools and ...

We analyze the effect of California's $20 fast food minimum wage, which was enacted in September 2023 and went into effect in April 2024, on employment in the fast food sector. In unadjusted data from ...

We present a new model of competition between digital media platforms with targeted advertising. The model adds new insights around how user heterogeneity and overlap, along with user and advertiser ...

Credit scores are a primary screening device for the allocation of credit, housing, and sometimes even employment. In the data, credit scores grow and fan out with age; at the same time, income and ...

Optimizing state and regional physician labor supply has been an important policy issue in healthcare in the United States. One of the proposed solutions has been the universal licensing recognition ...

We study the effects of state hospital regulations intended to increase breastfeeding by requiring certain care standards during the postpartum hospital stay. Policy adoption increased breastfeeding ...

We conducted a large-scale field experiment in Granada, Spain, to assess the motivating effect on blood donation of matching each attempt to donate with a charitable contribution pledge for children ...

We then document robust evidence consistent with two patenting strategies that may block biosimilar competition: thicketing and evergreening, whereby firms supplement primary patents with a dense web ...

Certificate-of-Need (CON) laws require the approval of states’ health planning agencies for health care providers to engage in regulated actions such as opening or expanding facilities or purchasing ...