Using a randomized controlled trial we test how retail investors assess and update their priors based on different types of financial advice, which either aligns with their priors or goes against it.

In addition to working papers, the NBER disseminates affiliates’ latest findings through a range of free periodicals — the NBER Reporter, the NBER Digest, the Bulletin on Retirement and Disability, ...

Generative Artificial Intelligence (AI) is a potentially important new technology, but its impact on the economy depends on the speed and intensity of adoption. This paper reports results from the ...

In addition to working papers, the NBER disseminates affiliates’ latest findings through a range of free periodicals — the ...

Valerie Ramey, an NBER Research Associate in the Economic Fluctuations and Growth and Monetary Economics Programs, Senior Fellow at the Hoover Institution at Stanford University, and Professor of ...

We summarize the economics of recycling municipal solid waste. OECD data suggest that aggregate recycling rates in member countries have plateaued in recent decades. United States recycling rates for ...

A production efficiency perspective naturally leads to the prescription that more productive individuals should work more than less productive individuals. Yet, systematic differences in actual hours ...

Second, these declines raised death rates and contributed to the adverse mortality trends experienced by prime-age non-Hispanic Whites and, to a lesser extent, Blacks from 1999-2019. However, ...

Post-covid inflation was predominantly driven by unexpectedly strong demand forces, not only in the United States, but also in the Euro Area. In comparison, the inflationary impact of adverse supply ...

Digital technologies are bringing vast improvements to modern society but also carry the risk of perpetuating disparities if adopted at lower rates by underserved communities. We investigate the ...

Primary historical sources are often by-passed for secondary sources due to high human costs of accessing and extracting primary information–especially in lower-resource settings. We propose a ...

We leverage a unique two-stage experiment that randomized access to private school vouchers across markets as well as students to estimate the revealed preference value of school choice. To do this, ...