Endogeneity is a primary concern when evaluating causal effects using observational panel data. While unit-specific intercepts control for unobserved time-invariant confounders, dependence between (i) regressors (e.g., marketing mix strategy of interests) and the current error term (regressor...

Skewness is a prevalent feature of macroeconomic time series and may arise exogenously because shocks are asymmetrically distributed, or endogenously, as shocks propagate through production networks. Previous theoretical work often studies these two possibilities in isolation. We nest all...

Causal inference is of central interests in many empirical applications yet often challenging because of the presence of endogenous regressors. The classical approach to the problem requires using instrumental variables that must satisfy the stringent condition of exclusion restriction. At the...

Many of the challenges in the estimation of dynamic heterogeneous treatment effects can be resolved with local projection (LP) estimators of the sort used in applied macroeconometrics. This approach provides a convenient alternative to the more complicated solutions proposed in the recent...

We develop a dynamic microsimulation model to project the labor force and economic dependency ratios in the United States from 2022 to 2060, taking population projections and the large inequalities between population groups of different race/ethnicity and gender into account. We contrast policy...

This paper investigates the weekly evolution of skills as measured by unique data from a widely-emulated early childhood home-visiting program in rural China. The design of the study avoids input endogeneity issues and lack of comparable measures of skills that plague previous studies. Skills,...

Fundamental knowledge in the life sciences has consequential implications for medicine and subsequent medical innovations. Using publications in leading life science journals to measure fundamental knowledge, we document large agglomerations in the institutions where it is discovered and a...

As scientists' careers unfold, mobility can allow researchers to find environments where they are more productive and more effectively contribute to the generation of new knowledge. In this paper, we examine the determinants of mobility of elite academics within the life sciences, including...