21 June 2019

Paid Family Leave and Breastfeeding in California

California’s paid family leave program increases the overall duration of breastfeeding by nearly 18 days, and the likelihood of breastfeeding for at least six months by 5 percentage points, Jessica E. Pac, Ann P. Bartel, Christopher J. Ruhm, and Jane Waldfogel find.

20 June 2019

Can Economic Policies Reduce Deaths of Despair?

Hgher minimum wages and earned income tax credits significantly reduce non-drug suicides, but do not affect drug-related mortality, William H. Dow, Anna Godøy, Christopher A. Lowenstein, and Michael Reich find. A 10 percent increase in the minimum wage reduces non-drug suicides among adults with high school or less by 3.6 percent.

19 June 2019

Are Financial Crises Demand or Supply Shocks?

Felipe Benguria and Alan M. Taylor find that usually after a financial crisis, imports contract, exports hold steady or even rise, and the real exchange rate depreciates — meaning the crises are very clearly negative shocks to demand rather than to supply.

18 June 2019

What Does an Electric Vehicle Replace?

Federal income tax credits resulted in an increase in electric vehicle sales, but 70 percent of the credits were obtained by households that would have bought an EV without the credits, according research by Jianwei Xing, Benjamin Leard, and Shanjun Li.

17 June 2019

Fiscal Space and the Aftermath of Financial Crises

In OECD countries over the period 1980–2017, countries with lower debt-to-GDP ratios responded to financial distress with much more expansionary fiscal policy and suffered much less severe aftermaths, according to new research by Christina D. Romer and David H. Romer.

14 June 2019

Explaining the Post-1990 Rise in the U.S. Stock Market

From 1989 through 2017, $23 trillion of real equity wealth was created by the nonfinancial corporate sector, of which 54 percent was attributable to a reallocation of rents to shareholders in a decelerating economy, according to an analysis by Daniel L. Greenwald, Martin Lettau, and Sydney C. Ludvigson.

13 June 2019

Local Aggregate Effects of Minimum Wage Increases

Following minimum wage increases, both prices and nominal spending rise modestly, Daniel Cooper, María José Luengo-Prado, and Jonathan A. Parker find. Total debt among households with low credit scores declines, auto debt rises, and access to credit increases.

12 June 2019

What Happened to U.S. Business Dynamism?

A study by Ufuk Akcigit and Sina T. Ates suggests that a decline in the intensity of knowledge diffusion from frontier firms to laggard firms is a dominant factor in market concentration and the slowdown in business dynamism in the United States.

11 June 2019

Cognitive Ability, Financial Literacy, and Advice

Cognitive ability and financial literacy strongly improve the quality, but not the quantity, of financial advice sought by older Americans, who tend to seek financial help from professionals rather than family, Hugh Hoikwang Kim, Raimond Maurer, and Olivia S. Mitchell find.

10 June 2019

The Wage Effects of Longer Hours

While average hourly wages tend to be higher in occupations with longer average work weeks, within an occupation, those who tend to work longer hours earn a relatively small wage premium, according to Jeffrey T. Denning, Brian Jacob, Lars Lefgren, and Christian vom Lehn.
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