This volume contains six studies on current topics in macroeconomics. Michael Woodford shows that while the assumption of rational expectations is unrealistic, a finite-horizon forward planning model ...

Behavioral finance argues that some financial phenomena can plausibly be understood using models in which some agents are not fully rational. The field has two building blocks: limits to arbitrage, ...

We examine the impact of encouragement emails sent to high-performing students in a principles of microeconomics course at a large state university, aimed at motivating them to take additional ...

We study whether gender differences in university major choices result from anticipated labor market discrimination. First, we document two novel facts using administrative transcript records from a ...

We conduct a long-run evaluation of one of the oldest professional mentoring programs for underrepresented groups in economics, the American Economic Association Mentoring Program (AEAMP). The AEAMP ...

The period after the Global Financial Crisis (GFC) was characterized by a considerable risk migration within global liquidity flows, away from cross-border bank lending towards international bond ...

How good is AI at persuading humans to perform costly actions? We study calls made to get delinquent consumer borrowers to repay. Regression discontinuity and a randomized experiment reveal that AI is ...

We introduce the concept of racial capital, defined as the collective material and non- material assets of the racial groups to which a child is exposed while growing up, and examine its potential to ...

Using limitations to the deductibility of interest payments triggered by the introduction of interest ceiling rules globally, we show that affected private firms reduce leverage relative to unaffected ...

The decline in housing affordability over recent decades has promoted an enhanced interest in housing supply. This chapter presents descriptive evidence about the evolution of us housing prices, ...

This paper examines partisanship in public perceptions of the Federal Reserve. In all years from 2001 through 2023, trust in the Federal Reserve was highest for respondents of the same party as the ...

In this paper, we develop a simple model to show that, holding the total number of experiments constant, markets dominated by a few large-scale experimenters- firms conducting multiple experiments- ...