Neil Mehrotra, Hyunseung Oh, and Julio L. OrtizUsing industry-level panel data and plausibly exogenous variation in supply conditions, we estimate the elasticity of retail price margins with respect to inventories along the retailer's optimal pricing curve. We find that this elasticity is negative and statistically significant, implying that lower finished-good inventories lead to higher price margins.
Hsinyu (Samuel) Tseng, Douglas A. WebberWe use the longitudinal component of the Current Population Survey to compare transition rates into and out of disability and employment prior to and after the onset of the pandemic. We find that one-third of the increased employment rate among disabled people is due to the excess incidence of disability seen following the pandemic, while the other two-thirds is attributable to higher participation among people whose disabilities were unrelated to the pandemic.
Canadian lumber waits for shipment in a sawmill's yard. Andrej Ivanov/Getty ImagesLumber, especially softwood lumber like pine and spruce, is critical to U.S. home construction. Its availability and price directly affect housing costs and broader economic activity in the building sector. The U.S.
The PRA and FCA have today confirmed plans to increase flexibility around senior banker pay, alongside changes to create better links between bonus awards and responsible risk-taking.
Here’s the breakdown on what’s really driving America’s runaway drug prices -- and whether any of the current plans stand a chance to lower your pharmacy bill.
When it comes to the sickening cost of prescription drugs in America, this much is true: Big Pharma didn’t get rich by playing nice. It got rich playing Wall Street games.
For decades, economist William Lazonick has been exposing how Pharma’s Wall Street-driven business model doesn’t just lead to sky-high drug prices, but actually stifles innovation, too.
Surveillance pricing has dominated headlines recently. Delta Air Lines’ announcement that it will use artificial intelligence to set individualized ticket prices has led to widespread concerns about companies using personal data to charge different prices for identical products.
When Starbucks announced that it would phase out its mobile-order pickup-only locations beginning in 2026, it raised a question: Why abandon a format seemingly built for speed and efficiency?
When Starbucks announced that it would phase out its mobile-order pickup-only locations beginning in 2026, it raised a question: Why abandon a format seemingly built for speed and efficiency?
This paper proposes a unified framework to study the permanent and transitory origins of US economic fluctuations. The model provides a reasonable account of the evolution of the economy in the post-war period and of the recent inflation episode. Overall, it constitutes a comprehensive framework to offer policy guidance and a flexible empirical counterpart to more heavily-parametrized structural models.
This paper proposes a unified framework to study the permanent and transitory origins of US economic fluctuations. The model provides a reasonable account of the evolution of the economy in the post-war period and of the recent inflation episode. Overall, it constitutes a comprehensive framework to offer policy guidance and a flexible empirical counterpart to more heavily-parametrized structural models.
