This paper provides an overview of what has happened over the past fifty years for women as they worked to break through professional barriers in economics, policy, and institutional leadership. We chart the progress of women in higher education at the college level and beyond and then go on to...

This paper explores sources of complexity in dynamic optimization, examining how individuals navigate variation in incomes, prices, and returns in ten-period consumption-saving decisions. Our findings reveal that dynamic optimization poses significant challenges, resulting in suboptimal choices...

A central question in applied research is to estimate the effect of an exogenous intervention or shock on an outcome. The intervention can affect the outcome and controls on impact and over time. Moreover, there can be subsequent feedback between outcomes, controls and the intervention. Many of...

Because corporate limited liability protects founder's personal assets, creditors often require founders of new, small and risky firms to contract around limited liability by pledging their personal assets as collateral for loans to their firms. This makes personal bankruptcy law (PBL) relevant...

Teamwork has become more important in recent decades. We show that larger teams generate an unintended side effect: individuals who finish their PhD when the average team in their field is larger have worse career prospects. Our analysis combines data on career outcomes from the Survey of...

The COVID-19 pandemic led to significant economic disruptions, prompting many governments to implement short-time employment aid (STEA) to mitigate job losses and income reductions. This study examines the effectiveness of STEA in the short and long term in Europe among workers aged 50 and...

This paper studies the effects of mothers' long-term pre-conception exposure to local violence on birth outcomes. Using administrative data from Mexico and two different empirical strategies, our results indicate that mothers' long-term exposure to local violence prior to conception has...

Medium- and long-run dynamics undermine the effect of automatic enrollment and default savings-rate auto-escalation on retirement savings. Our analysis of nine 401(k) plans incorporates the facts that employees frequently leave firms (often before matching contributions from their employer have...

In recent years the analysis of US climate policy on the electricity sector has predominantly deployed electricity planning or capacity expansion models that use deterministic or equilibrium optimization methods. While uncertainty in key input assumptions is considered, it is usually restricted...

We formalize the GATT/WTO principle of reciprocity in workhorse quantitative trade models, characterizing reciprocal tariff cuts that hold terms of trade fixed and investigating their labor-market impacts. We provide closed-form expressions mapping reciprocal tariff cuts to labor market...