National Bureau of Economic Research

In 2023, the US had about half as many listed firms per capita as other developed countries, from Craig Doidge, G. Andrew Karolyi, Kris Shen, and René M. Stulz https://lnkd.in/eRmHQ-ft

After decades of stagnation, restaurant industry productivity surged after emergence from pandemic due in part to shorter customer dwell times, from Austan Goolsbee, Chad Syverson, Rebecca Goldgof, and Joe Tatarka https://lnkd.in/e2qHtJMK

Preannouncing big, price-moving trades is a bad idea. Traders will front-run you. Yet this is what large pensions do when they rebalance, and it costs pensioners $16 billion a year, from Campbell R. Harvey, Michele G. Mazzoleni, and Alessandro Melone https://lnkd.in/e-iyUueZ

Labor supply responses for student loan borrowers to a payment pause show reductions in hours consistent with liquidity constraints with effects concentrated among those with less than a Bachelor's degree, from Diego A. Briones and Sarah Turner https://lnkd.in/eKDWneWz

Examining sorting behavior across metropolitan areas by skill over individuals' life cycles show that high-skill workers disproportionately sort into high-amenity areas early in life, from David Albouy and R. Jason Faberman https://lnkd.in/e6HnH_JW

Increasing technology adoption in banking to the level in the top half of the distribution can accelerate long-term growth from 2 percent to 2.17 percent, from Sheila Jiang, Alessandro Rebucci, and Gang Zhang https://lnkd.in/ejS-6-Mp

Trends in emergency department visits overstate actual deterioration in child mental health significantly due to changes in screening, definition, and coding of mental illness, from Han Choi, Adriana Corredor-Waldron, Janet Currie, and Chris Felton https://lnkd.in/eGFfZ7wr

A 10 μg/m3 increase in daily PM2.5 air pollution causes a 5.7 percent increase in full-day student absences, a 13.1 percent increase in teacher absences, and a 28 percent increase in behavior referrals, from Sarah Chung, Claudia Persico, and Jing Liu https://lnkd.in/e6WvBFGF

Featured in the latest Digest: "Unintended Consequences of Merit-Based Teacher Reform in Colombia" https://lnkd.in/eVV4YxQN

Evidence from over 25,000 prices shows that monopoly power blunted consumer preferences for discrimination, and Black consumers paid higher prices in the non-discriminatory market, from Maggie E.C. Jones, Trevon D. Logan, David Rosé, and Lisa D. Cook https://lnkd.in/ebbj7nAz