This paper examines a model of dynamic price adjustment based on the assumption that information disseminates slowly throughout the population. Compared to the commonly used sticky-price model, this ...

Using a comprehensive dataset of posts from a major platform for anime- and manga-style artwork, we study the impact of the launch of a prominent text-to-image generative AI. Focusing on the majority ...

In research conducted in collaboration with Arkey Barnett at the University of Michigan and Meghan Beal at the National Sheriffs’ Association, we investigate the effects of innovative investments in ...

How much and how fast should the globe reduce greenhouse-gas emissions? How should nations balance the costs of the reductions against the damages and dangers of climate change? This question has been ...

The NBER has awarded four Robert Summers fellowships that enable economic statisticians to attend the Conference on Research in Income and Wealth (CRIW) meeting on July 20–21, 2026, in Cambridge, MA.

This paper studies the labor market effects of recent state-level policies that require employers to disclose salary information in job postings. Leveraging a difference-in-differences design, we show ...

Science, Technology, Engineering, and Math (STEM) jobs are a key contributor to economic growth and national competitiveness. Yet STEM workers are perceived to be in short supply. This paper shows ...

This paper uses administrative data to analyze wealth flows from Norway to offshore tax havens before and after a major improvement of global financial transparency: automatic exchange of bank account ...

Christian Valencia received his Ph.D. in Agricultural and Applied Economics from the University of Illinois at Urbana-Champaign. His research sits at the intersection of labor and agricultural ...

We revisit the classic identification problem of separating supply and demand for a homogeneous good using data from multiple markets. We allow markets to be heterogeneous according to unobservables, ...

We study the causes and consequences of bank runs. By applying large language models to historical newspapers, we create a comprehensive database of bank runs in U.S. history with information on 3,984 ...

Recently the global economy has experienced several major shocks yet EMEs have been remarkably resilient. Some of this improved performance can be attributed to prudent policies and stronger economic ...