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NATIONAL BUREAU OF ECONOMIC RESEARCH

Conducting and disseminating nonpartisan economic research
Business Cycle Dating InformationNew This Week / Working Papers


LATEST FROM THE NBER

FROM THE NBER BULLETIN ON HEALTH

EPIGENETIC INFLUENCES ON THE DESCENDANTS OF UNION ARMY POWS

article

The number of adults worldwide who are overweight or obese is rising, with much
of the increase driven by developing countries. Famine exposure at early ages is
a contributing factor, and it is not clear whether such exposure transmits
across generations. In Overweight Grandsons and Grandfathers’ Starvation
Exposure (NBER Working Paper 30599), Dora Costa develops novel evidence on this
issue by studying the grandchildren of Union Army veterans, some of whom were
prisoners of war (POWs).

Prior to July 1863, most POWs in the US Civil War were immediately exchanged.
For those in this group who survived to 1900, the average time in…

A RESEARCH SUMMARY FROM THE MONTHLY NBER DIGEST

WHEN CLOCKS SAY IT’S ONE TIME AND THE SUN SAYS IT’S ANOTHER

article

Before rail and communication networks spurred the introduction of time zones in
the late nineteenth century, most towns operated on “solar time,” with noon
occurring around when the sun was at its apex. Today, solar noon occurs about an
hour earlier in clock time at the east end of a time zone than at the west end.
As a result, in winter, workers in Grand Rapids, Michigan, heading to work at
7:30 a.m. may be doing so in the dark, even though the sun has already risen on
their counterparts in Boston, Massachusetts who are commuting at the same time.
Both cities are in the Eastern Time Zone.

In When We Change the Clock, Does the Clock Change Us? (NBER Working Paper
30999), Patrick Baylis, Severin Borenstein, and Edward A. Rubin find that when
clock time and solar time diverge...

(L-R) Guillermo Calvo, Olivia Mitchell, Maurice Obstfeld

AMERICAN ECONOMIC ASSOCIATION NAMES DISTINGUISHED FELLOWS

news article

The American Economic Association has named four new Distinguished Fellows,
three of whom — Guillermo Calvo, Olivia Mitchell, and Maurice Obstfeld — are
NBER research associates.

Guillermo Calvo of Columbia University, a leading contributor in macroeconomics,
international finance, and the analysis of sovereign debt, is a research
associate in the NBER’s International Finance and Macroeconomics (IFM) Program. 

Olivia Mitchell of the Wharton School of the University of Pennsylvania, who has
made pioneering advances in the study of pensions, Social Security, and
financial literacy, is a research associate in the Economics of Aging and the
Labor Studies Programs. 

Maurice Obstfeld of the University of California, Berkeley, whose research laid
the foundation for the analysis of many key issues in open economy
macroeconomics, is a research associate in the Economic Fluctuations and Growth,
IFM, and International Trade and Investment Programs. 

The fourth newly named Distinguished Fellow is economic theorist Drew Fudenberg
of MIT.

The AEA issued a press release covering these and other award announcements.

FROM THE NBER REPORTER: RESEARCH, PROGRAM, AND CONFERENCE SUMMARIES

CEOS AND FIRM PERFORMANCE

article

CEOs have become a topic of increasing scrutiny in economic research. Early
studies on this topic inferred the presence of differentiation in CEOs’
abilities and managerial styles indirectly, examining changes in firm
performance after exogenous events such as deaths or movements of managers
across different firms affected their ability to manage. This summary describes
recent empirical work that I have conducted to generate direct evidence on what
top managers do, how they differ from one another, and whether these differences
matter for firms’ performance.

The research touches upon different aspects of what CEOs do — ranging from
day-to-day behavior to strategy setting. Ultimately, it strives to build new
measurements of CEOs…

FROM THE NBER BULLETIN ON ENTREPRENEURSHIP



STARTUPS DRIVE COMMERCIALIZATION OF HIGH-IMPACT INNOVATIONS

article

Startups have more incentive than incumbent firms to engage in potentially
disruptive R&D because large, established firms have more to lose from the
discovery of new technologies that replace traditional ways of doing things.
With no existing operations, startups have nothing to lose and much to gain from
disruptive innovation.

In Of Academics and Creative Destruction: Startup Advantage in the Process of
Innovation (NBER Working Paper 30362), Julian Kolev, Alexis Haughey, Fiona
Murray, and Scott Stern focus on patents that emerged from…

FROM THE NBER BULLETIN ON RETIREMENT AND DISABILITY



WORK AND BENEFIT APPLICATIONS THROUGH THE SECOND YEAR OF THE COVID-19 PANDEMIC

article

During the first year of the COVID-19 pandemic, workers ages 50 to 70 were about
10 percent less likely to be working relative to pre-pandemic levels. Unlike in
previous recessions, when older workers turned to Social Security disability
insurance or retirement benefits, the drop in employment in the pandemic’s first
year was accompanied by a decline in applications for disability insurance and
no significant change in retirement applications.

As the pandemic continued into a second year, older individuals may have
readjusted their work or benefit claiming behavior in response to changing
circumstances. The public programs enacted in the pandemic’s early days wound
down, with the final round of economic impact payments being made in March 2021
and expanded federal unemployment insurance (UI) benefits ending…


FEATURED WORKING PAPERS

Work Hours Mismatch
May 23, 2023

Most workers would prefer to work longer hours than their current job permits,
and would accept a lower per-hour wage if they were offered an extended
workweek,   a study by Marta Lachowska, Alexandre Mas, Raffaele Saggio,
and Stephen A. Woodbury finds.

Learning Delay during the Pandemic
May 22, 2023

Math and ELA achievement growth among Michigan middle schoolers dropped 0.22 and
0.03 standard deviations more than expected, respectively, between 2019 and
2022, with larger declines for Black, Latino, and economically disadvantaged
students, Katharine O. Strunk, Bryant G. Hopkins, Tara Kilbride, Scott A.
Imberman, and Dongming Yu find.

Inefficient 401(k) Saving by Couples
May 19, 2023

Taha Choukhmane, Lucas Goodman, and Cormac O'Dea find evidence that many married
households fail to take full advantage of the matching contributions from their
employers, as indicated by the spouse with the lower-match plan contributing to
it even though the other spouse has not fully exhausted the more generous
match. 

Racial Disparities in the Paycheck Protection Program
May 18, 2023

Automation by fintechs reduced racial disparities in Paycheck Protection Program
take-up by mitigating differences in loan application rates, not loan approval
rates, according to an analysis Sergey Chernenko, Nathan Kaplan, Asani Sarkar,
and David S. Scharfstein.

“There She Is, Your Ideal”
May 17, 2023

Following Miss America and Miss USA beauty pageants, teenage girls and
pageant-aged women in the winners’ home states were more likely to report that
they were trying to lose weight, and pregnant women gained less gestational
weight, Christopher S. Carpenter and Brandyn F. Churchill report

View all


IN THE NEWS

Recent citations of NBER research in the media
_______________________________________

Don't force taxpayers to gamble with the IRS
May 21, 2023
Source: Las Vegas Sun
Read the research here. Or a non-technical summary here.
Wendy's will start using Chatbots to take orders and underground robots to
deliver to customers
May 19, 2023
Source: Daily Mail (UK)
Read the research here.
Office Workers Hate the Commute, Not the Office
May 19, 2023
Source: The New York Times
Read the research here and here.
Ordering fast food? A robot may take the order, whether you know it or not
May 19, 2023
Source: Fox Business
Read the research here.
The Tragedy of Indian Point
May 19, 2023
Source: City Journal
Read the research here.

View all


RESEARCH PROJECTS

EU Labor Immigration and the Organization of Work (IMMORG)
Project
Summer Institute 2023-2025
Project
Digital Economics and Artificial Intelligence, 2023-2025
Project
HEARTSPOT: Implementation and Rigorous Evaluation of a Machine Learning System
to Aid Decision-Making in the Emergency Department
Project
Regularization for Nonlinear Panel Models, Estimation of Heterogeneous Taxable
Income Elasticities, and Conditional Influence Functions
Project
More NBER Research Projects


CONFERENCES

Economics of Energy Use in Transportation, Spring 2023
Conference
Organizer(s): Meghan R. Busse, Christopher R. Knittel & Kate S. Whitefoot
Megafirms and the Economy, Spring 2023
Conference
Organizer(s): Chad Syverson & John Van Reenen
Economics of Transportation in the 21st Century, Spring 2023
Conference
Organizer(s): Edward L. Glaeser, James Poterba & Stephen J. Redding
The Economics of Decarbonizing Industrial Production: Pre-Conference, Spring
2023
Conference
Organizer(s): Lint Barrage & Kenneth Gillingham
Insurance Working Group Meeting, Spring 2023
Conference
Organizer(s): Benjamin R. Handel & Motohiro Yogo
Explore Conferences


BOOKS & CHAPTERS

Through a partnership with the University of Chicago Press, the NBER publishes
the proceedings of four annual conferences as well as other research studies
associated with NBER-based research projects.

Challenges of Globalization in the Measurement of National Accounts
Book
Author(s): Nadim Ahmad, Brent Moulton, J. David Richardson & Peter van de Ven
Entrepreneurship and Innovation Policy and the Economy, volume 2
Book
Author(s): Benjamin Jones & Josh Lerner
Measuring Distribution and Mobility of Income and Wealth
Book
Author(s): Raj Chetty, John N. Friedman, Janet C. Gornick, Barry Johnson &
Arthur Kennickell
Tax Policy and the Economy, Volume 36
Book
Author(s): Robert A. Moffitt
Entrepreneurship and Innovation Policy and the Economy, volume 1
Book
Author(s): Josh Lerner & Scott Stern
Explore Books & Chapters


RESEARCH SPOTLIGHTS

NBER researchers discuss their work on subjects of wide interest to economists,
policymakers, and the general public. Recordings of more-detailed presentations,
keynote addresses, and panel discussions at NBER conferences are available on
the Lectures page.
When Work Moves Job Suburbanization and Black Employment - Conrad Miller
Research Spotlight
In recognition of Black History Month, Research Associate Conrad Miller of the
University of California, Berkeley,...
Whitelashing: Black Politicians, Taxes, and Violence - Trevon Logan
Research Spotlight
In recognition of Black History Month, Research Associate Trevon Logan of The
Ohio State University, who directs the...
Organization and Performance of US Health Systems - David Cutler and Nancy
Beaulieu
Research Spotlight
A growing fraction of US medical care is delivered through integrated healthcare
systems that include many medical...
2016, Long-Term Asset Management Interview, Joseph J. Gerakos
Research Spotlight

2016, Long-Term Asset Management Interview, Andrea L. Eisfeldt
Research Spotlight

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