Industrial policies (IPs) targeting electric vehicles (EVs) are associated with an increase in the number of EV patents. Firms with more EV experience innovate more rapidly, suggesting path dependence.

Persistent demand shocks, reflected in persistent interest rate differentials, account for 75% of the variance in the dollar/G10 exchange rate. Currency intermediation shocks play a key role at higher frequencies, especially during crises when the dollar appreciates despite lower US...

When some US states allowed nurse practitioners to prescribe controlled substances without physician oversight, a serious unintended consequence took hold: Doctors found themselves competing with those nurses for patients. Molly Schnell, BFI Saieh Family Fellow and assistant professor at Northwestern...

The US corporate sector’s “carbon burden” (the present value of social costs of its future carbon emissions) is 131% of total corporate equity value; 77% of individual firms have carbon burdens exceeding their market capitalizations.