Ju, Jiandong; Li, Yuankun; Wei, Shang-jin - National Bureau of Economic Research - 2026
We document and characterize a new history of U.S. federal-level industrial policies by scanning all 12,167 Congressional Acts and 6,030 Presidential Orders from 1973 through 2022. We find several interesting patterns. First, contrary to a common perception, the United States has always been an...