Steering Technological Progress
We need a dual approach to AI: steer technology in the short term while building new systems for the long term.
Steering AI to Enhance Jobs and Prepare for Future Transformation
How to guide innovative AI efforts to increase labor demand and create better-paying jobs?
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FEDS Paper: A Look Back at "Look Through"
Edward NelsonThis paper examines the place that a "look-through" approach to price shocks has acquired in inflation-targeting frameworks. The "look-through" approach reflects the fact that, in the event of a shock that is likely (on impact) to put a sizable share of consumer prices under upward pressure, one option available to the central bank is to accommodate the initial price rise. In doing so, it can also attempt to ensure that future inflation rates, and inflation expectations, are insulated from the shock.
Beyond the backlash: What evidence shows about the economic impact of DEI
DEI has a long history. Nora Carol Photography via Getty ImagesFew issues in the U.S. today are as controversial as diversity, equity and inclusion – commonly referred to as DEI.
FEDS Paper: (Re-)Connecting Inflation and the Labor Market: A Tale of Two Curves(Revised)
Hie Joo Ahn and Jeremy B. RuddWe propose an empirical framework in which shocks to worker reallocation, aggregate activity, and labor supply drive the joint dynamics of the labor market and inflation, and where reallocation shocks take two forms depending on whether they result from quits or from job losses. We find that these structural shocks, which affect the Beveridge curve, have different effects on inflation.
The Economics of Being Seen
What does economic inequality look like when we account for gender identity, sexual orientation, and lived experience?
Guns bought in the US and trafficked to Mexican drug cartels fuel violence in Mexico and the migration crisis
The Mexican security forces tracking Nemesio Oseguera Cervantes – the leader of a deadly drug cartel that has been a top driver of violence in Mexico and narcotic addiction in America – thought they finally had him cornered on May 1, 2015.
Public health and private equity: What the Walgreens buyout could mean for the future of pharmacy care
Pharmacies are more than just stores – they’re vital links between people and their health care.
One of us, Patrick, witnessed this firsthand in 2003 while working as a pharmacy technician at Walgreens in a midsize West Texas town. Each day involved handling hundreds of prescriptions as they moved through the system – meticulously counting pills, deciphering doctors’ handwriting and sorting out confusing insurance issues. The experience revealed that how pharmacies are owned and managed is as much a public health issue as it is a financial one.
Critical minerals don’t belong in landfills – microwave tech offers a cleaner way to reclaim them from e-waste
Broken electronics still contain valuable critical minerals. Beeldbewerking/iStock/Getty Images PlusWhen the computer or phone you’re using right now blinks its last blink and you drop it off for recycling, do you know what happens?
IFDP Paper: Corporate Debt Maturity and Business Cycle Fluctuations
Francesco Ferrante, Andrea Prestipino, Immo SchottLong-term debt is the main source of firm-financing in the U.S. We show that accounting for debt maturity is crucial for understanding business cycle dynamics. We develop a macroeconomic model with defaultable long-term debt and equity adjustment costs.
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