In observational studies of discrimination, the most common statistical approaches consider either the rate at which decisions are made (…
We show that intergenerational mobility changed rapidly by race and class in recent decades and use these trends to study the causal…
Manufacturing generates very little employment in the developing world. Urban jobs are predominantly informal, unproductive, and in…
This paper develops a novel method to identify the causal contribution of managers to team performance. The method requires repeated random…
Driven by the push to decarbonize the world and achieve net zero emissions by 2050, a new anti-elite revolt is in the making in developed…
We advance principles for the construction of a stable and broadly beneficial world order that does not require significant commonality in…
June 5, 2024, Paper: "Over the past decade, few ideas have been more influential in macroeconomic policy that the notion advanced economies…
Economic development is a path-dependent process in which countries accumulate capabilities that allow them to move into more complex…
We study sovereign external debt crises over the past 200 years, with a focus on creditor losses, or “haircuts”. Our sample covers 327…
This paper investigates the economic and social consequences of sovereign default on external debt. We focus on the crises’ impact on real…