On average, an extra dollar of unearned income in a given period reduces pre- tax labor earnings by about 50 cents, decreases total labor taxes by 10 cents, and increases consumption by 60 cents.

The benefits of eliminating idiosyncratic shocks to consumption unrelated to the business cycle are 47.3% of the utility of a member of a household. By contrast, the benefits of eliminating idiosyncratic shocks to consumption related to the business cycle are 3.4% of utility and the benefits of eliminating aggregate shocks are 7.7% of utility.

The estimated strength or weakness of a risk premium factor in asset pricing should be derived from a broad set of assets; this work proposes a novel methodology to select assets from a universe of test assets and to estimate the risk premium of a particular factor by accounting for all weak factors.

Autocracies overstate yearly GDP growth by as much as 35%; adjusting GDP data for such manipulation provides a more nuanced view on the economic success of non-democracies in recent decades.

A large cash assistance program for refugee returnees can lead to a significant increase in repatriation while reducing insurgent violence, and local institutions for conflict mediation can lead to reductions in social conflict.

Physicians lose about 17% of Medicaid revenue to billing problems, compared with 5% for Medicare, and 3% for commercial payers; these costs dissuade some doctors from accepting Medicaid patients.

When delivered by a single donor, development aid appears to curtail corruption, boost public opinion, and reduce conflict. But under donor fragmentation, the benefits of aid are significantly reduced.

Since 1980, the effect of declining racial skill gaps and discrimination over the preceding 20 years was offset by the increasing returns to Abstract tasks. This new research finds that the Black-White wage gap would have shrunk by about 7 percentage points by 2018 if the wage premium to task requirements were held at their 1980 levels, all else equal.