U pendin g a decades-long effort to reduce global trade barriers, China and the United States began mutually escalating tariffs on $450 billion in trade flows in 2018 and 2019. These tariff increases reduced trade between the US and China, but little is known about how trade was affected in the rest of the world. In The US-China Trade War and Global Reallocations (NBER …

New research by NBER affiliates, circulated prior to peer review for discussion and comment. NBER Working Papers may not offer policy recommendations or normative judgments about policies, but may report analytic results on the effects of policies. The NBER distributes more than 1,200 Working Papers ...

In Health Inequality and Economic Disparities by Race, Ethnicity, and Gender (NBER Working Paper 32971 an earlier version, NBER RDRC Paper NB23-11), Nicolò Russo, Rory McGee, Mariacristina De Nardi, Margherita Borella, and Ross Abram use data from the Health and Retirement Study over the period 1996–2018 to evaluate measures of health inequality in …

The NBER’s Business Cycle Dating Committee maintains a chronology of US business cycles. The chronology identifies the months of peaks and troughs of economic activity. Expansions are the periods between a trough and a peak; recessions are the periods between a peak and a trough. By convention ...

After several decades of relatively low and stable inflation, in 2021 the US experienced a sharp rise in the pace of price increases. The annual inflation rate, as measured by the Consumer Price Index, was 1.7 percent in February 2021 but rose to more than 5 percent in June 2021.

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In this paper, we undertake an assessment of the rapidly growing body of research on financial literacy. We start with an overview of theoretical research which casts financial knowledge as a form of investment in human capital. Endogenizing …

Founded in 1920, the NBER is a private, non-profit, non-partisan organization dedicated to conducting economic research and to disseminating research findings among academics, public policy makers, and business professionals.