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Insights / Podcast episodeJul 01, 2021

Economics of Courage

Eduardo Porter, Tess Vigeland, Kyle Greenberg, Michael Greenstone
Economists and policymakers alike rely on the “value of a statistical life” to make important...
Insights / Research BriefJun 29, 2021

The Heterogeneous Value of a Statistical Life: Evidence from U.S. Army Reenlistment Decisions

Kyle Greenberg, Michael Greenstone, Stephen P. Ryan, Michael Yankovich
If readers recall anything from their Econ 101 class, it is likely that the intersection of supply and demand curves reveals a product’s price and the quantity produced. Of course, there are many situations where those curves shift and complications arise within markets, but the general insight holds: the interaction of buyers and sellers informs prices and quantities.
Insights / Research BriefJun 28, 2021

Central Banking Challenges Posed by Uncertain Climate Change and Natural Disasters

Lars Peter Hansen
In recent years, some central banks have added a new responsibility to their list of tasks: ameliorate the effects of climate change. This could mean monitoring the short- and long-term exposure of financial institutions to climate change, or it could mean actively directing regulated financial institutions to invest in certain industries. In either case, central banks will have to determine how best to anticipate the likely effects of climate change many years into the future.
Topics:  Energy & Environment
Insights / Research BriefJun 28, 2021

Task-Based Discrimination

Erik Hurst, Yona Rubinstein, Kazuatsu Shimizu
One puzzle for researchers in recent decades surrounds two seemingly contradictory facts: The wage gap between Black and White men has remained stubbornly large in recent decades while, over the same period, racial discrimination has steadily declined. This divergence has occurred even as the racial gap in test scores, conditional on education, has also narrowed.
Topics:  Employment & Wages
Insights / Podcast episodeJun 16, 2021

Vaccine Lotteries: Worth a Shot?

Eduardo Porter, Tess Vigeland, Steve Levitt, Jeff Severts
More than a dozen states have announced large lotteries to incentivize vaccinations. On this episode,...
Topics:  COVID-19
Insights / Podcast episodeJun 03, 2021

Pay Now or Pay Later

Eduardo Porter, Tess Vigeland, Austan Goolsbee, Eric Zwick
With the rise in federal spending over the last several years, there are questions on...
Topics:  Fiscal Studies
Insights / Research BriefMay 25, 2021

Lifetime Earnings in the United States over Six Decades

Fatih Guvenen, Greg Kaplan, Jae Song, Justin Weidner
The stagnation of average earnings and rising income inequality in the United States since the 1970s has not only motivated economic research but has also informed discussions about political shifts among various demographics, as well as inspired policy debates about how to address this long-run phenomenon. This is especially true when it comes to the fate of male workers.
Topics:  Employment & Wages
Interactive Infographic

Examining Lifetime Earnings in the US Over Six Decades

The United States has seen stagnation of average earnings and income inequality rise since the 1970s. The charts below help shed light on this issue using data from US Social Security Administration (SSA) records over 57 years.