During the United States’ Reconstruction Era (1865-77), people with the same physical skin tone were more likely racialized as White or Mulatto if they were wealthier or literate. This historical finding underscores the fluidity of socially constructed racial classifications and...

Real labor productivity at US restaurants surged over 15% during the COVID pandemic. Mobile phone tracking data reveal that this appears driven by take-out customers who spend 10 minutes or less at restaurants.

Crypto’s most groundbreaking innovation, permissionless consensus, may also be its greatest vulnerability. In this episode, Chicago Booth economist Eric Budish breaks down the core mechanics of blockchain trust, the staggering energy costs behind mining, and why these systems are fundamentally...

Households are willing to forgo approximately 5–6% of their lifetime consumption to eliminate business cycle fluctuations and around 5% to achieve their desired inflation rate. This amount is higher among consumers whose consumption is more pro-cyclical, those facing greater economic...