Upending a decades-long effort to reduce global trade barriers, China and the United States began mutually escalating tariffs on $450 billion in trade flows in 2018 and 2019. These tariff increases reduced trade between the US and China, but little is known about how trade was affected in the rest of the world. In The US-China Trade War and Global Reallocations (NBER …

Founded in 1920, the NBER is a private, non-profit, non-partisan organization dedicated to conducting economic research and to disseminating research findings among academics, public policy makers, and business professionals.

New research by NBER affiliates, circulated prior to peer review for discussion and comment. NBER Working Papers may not offer policy recommendations or normative judgments about policies, but may report analytic results on the effects of policies. The NBER distributes more than 1,200 Working Papers each year. Papers issued more than 18 months ago are open access. …

The field of international trade has undergone significant theoretical and empirical advancements over the last twenty-five years. A key breakthrough has been the emergence of firm-level approaches to studying exporting, importing, and global value chains. The field has also experienced a quantitative revolution, driven by medium-scale models that rapidly assess the …

Oct 14, 2024 · (L to R) Daron Acemoglu, Simon Johnson, and James Robinson Research associates Daron Acemoglu, Simon Johnson, and James Robinson have been awarded the 2024 Nobel Memorial Prize in Economic Sciences "for studies of how institutions are formed and affect prosperity." The Royal Swedish Academy of Sciences explained that the three scholars …

Founded in 1920, the NBER is a private, non-profit, non-partisan organization dedicated to conducting economic research and to disseminating research findings among academics, public policy makers, and business professionals.

The NBER’s Business Cycle Dating Committee maintains a chronology of US business cycles. The chronology identifies the months of peaks and troughs of economic activity. Expansions are the periods between a trough and a peak; recessions are the periods between a peak and a trough. By convention, the NBER classifies the peak month as the last month of the expansion …

After several decades of relatively low and stable inflation, in 2021 the US experienced a sharp rise in the pace of price increases. The annual inflation rate, as measured by the Consumer Price Index, was 1.7 percent in February 2021 but rose to more than 5 percent in June 2021. It continued rising for another year, peaking at about 9 percent in June 2022. The rise in the …

Founded in 1920, the NBER is a private, non-profit, non-partisan organization dedicated to conducting economic research and to disseminating research findings among academics, public policy makers, and business professionals.

The NBER convenes over 120 meetings each year at which researchers share and discuss their latest findings and launch new projects. The Summer Institute, a collection of nearly 50 smaller meetings, is held annually in July.