This year, the NBER Macroeconomics Annual celebrates its thirtieth volume. The first two papers examine China’s macroeconomic development. “Trends and Cycle

We explore two issues triggered by the crisis. First, in most advanced countries, output remains far below the pre-recession trend, suggesting hysteresis. Secon

Few United States government programs are as controversial as those designed to aid the poor. From tax credits to medical assistance, aid to needy families is s

There is a small and growing literature that explores the impact of digitization in a variety of contexts, but its economic consequences, surprisingly, remain p

Inflation is regarded by the many as a menace that damages business and can only make life worse for households. Keeping it low depends critically on ensuring t