The United States has experienced a significant decline in labor unions over the past half-century. We examine the aggregate labor market impact of labor unions, the causes of their decline, and their welfare and distributional consequences, accounting for unions' effects on wages and employers'...

We characterize sabotage, exemplified by recent U.S. policies concerning China's semiconductor industry, as trade policy. For some (but not all) goods, completely destroying foreigners' productivity increases domestic real income by shifting the location of production and improving the terms of...

We investigate how formularies used by pharmacy benefit managers (PBMs) can affect manufacturer rebates for branded drugs. We first present a theoretical model of multidimensional contracting in which a PBM negotiates with drug manufacturers over menus of formulary-contingent rebate payments and...

Since the 2000s, economists across fields have increasingly used consumer credit reporting data for research. We introduce readers to the economics of and the institutional details of these data. Using examples from the literature, we provide practical guidance on how to use these data to...

This paper develops a model of news discernment to explore the influence of elections on the formation of partisan-driven parallel information universes. Using survey data from news quizzes administered during and outside the 2020 U.S. presidential election, the model shows that partisan...

We review an empirical literature that studies how political polarization affects financial decisions. We first discuss the degree of partisan segregation in finance and corporate America, the mechanisms through which partisanship may influence financial decisions, and available data sources to...

Mit dem arbeitspolitischen Ansatz ist in den 80er Jahren ein erweiterter Zugang zur Erforschung von Entwicklungsprozessen gesellschaftlicher Arbeit eröffnet worden. Er stellt die Wechselwirkungen zwischen betrieblicher sowie überbetrieblicher Regulierung und den Interessenlagen in...