Affordable higher education is, and has been, a key element of social policy in the United States with broad bipartisan support. Financial aid has substantially increased the number of people who complete university - generally thought to be a good thing. We show, however, that making education...

Most young households simultaneously hold both unsecured debt on which they pay an average of 10 percent interest and social security wealth on which they earn less than 2 percent. We document this fact using data from the Panel Study of Income Dynamics. We then consider a life-cycle model with...

Headline estimates for the extent of work from home (WFH) differ widely across U.S. surveys. The differences shrink greatly when we harmonize with respect to the WFH concept, target population, and question design. As of 2025, our preferred estimates say that WFH accounts for a quarter of paid...

U.S. labor markets became much less fluid in recent decades. Job reallocation rates fell more than a quarter after 1990, and worker reallocation rates fell more than a quarter after 2000. The declines cut across states, industries and demographic groups defined by age, gender and education....

<i>In response to a comment on this paper by <a href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3050984">Ayash and Rastad</a href> the authors have posted a comment which may be found <a href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3113272">here.</a href></i>

Assessing the economic impact of the COVID-19 pandemic is essential for policymakers, but challenging because the crisis has unfolded with extreme speed. We identify three indicators - stock market volatility, newspaper-based economic uncertainty, and subjective uncertainty in business...

Affordable higher education is, and has been, a key element of social policy in the United States with broad bipartisan support. Financial aid has substantially increased the number of people who complete universitygenerally thought to be a good thing. We show, however, that making education...

Most young households simultaneously hold both unsecured debt on which they pay an average of 10 percent interest and social security wealth on which they earn less than 2 percent. We document this fact using data from the Panel Study of Income Dynamics. We then consider a life-cycle model with...