Research Associate Andrea Eisfeldt, who holds the Laurence D. and Lori W. Fink Endowed Chair in Finance at the University of California, Los Angeles Anderson School of Business, has agreed to join ...

We study the role of expertise in new work–novel occupational roles that emerge as technological and economic conditions evolve–using newly available 1940 and 1950 Census Complete Count files and ...

We quantify how structural changes in the U.S. labor market have contributed to wage stagnation over the past four decades by weakening the job ladder. Using Current Population Survey microdata from ...

Limiting global warming to 1.5 degrees requires that cumulative carbon dioxide emissions remain within a finite remaining carbon budget. How this budget is allocated across countries raises questions ...

This paper studies the use of mobile crisis response teams—a non-uniformed pair consisting of a mental health worker and a medic—as a component of emergency response to 911 calls. We provide the first ...

We analyze a unique data set detailing the financial activities of a drug-selling street gang on a monthly basis over a four-year period in the recent past. The data, originally compiled by the gang ...

Population aging is expected to slow U.S. economic growth. We use variation in the predetermined component of population aging across states to estimate the impact of population aging on growth in GDP ...

This paper provides a comprehensive introduction to private debt, examines the key drivers behind its expansion, and frames the discussion around potential risk accumulation in the broader economy.

Autoregressive LLMs generate text by sampling from estimated probability distributions over the next token, conditional on prior context. We use these probabilities to construct an entropy-based ...

Target date funds – which initially invest a large share of retirement savings in stocks and shift gradually towards bonds over the life cycle – are designed to provide a “one stop shop” for ...

However, a party can sustain extremism only if the other side is extreme, too. A small moderation of one side’s voting electorate can trigger a discontinuous collapse of candidate extremism on both ...

Organized interests are thought to influence policy, but whether and when interest group money overrides public opinion remains poorly understood. We investigate how gun interest group money and ...