We thank Henrik Kleven, Jann Spiess, Evan Soltas, and seminar audiences at the CIRANO-CIREQ Workshop on Markets with Frictions 2026, FRB Chicago, Hong Kong University, Institute for Advanced Studies Vienna, Martin-Luther-University Halle-Wittenberg, Princeton, PhD Conference in Economics (Berlin, WZB), Sciences Po, SOLE 2026, Stanford Joint Applied Micro Seminar, UMass Amherst, Wharton, and WZB for useful…
With disbelief I heard some days ago of the passing of Óscar Ugarteche, one of the Tax Justice Network’s long time senior advisers. This mournful news left me dismayed. The loss of an inspiring person always brings sadness even to those of us who were not fortunate enough to meet him in person. At the same time, this news made me want to pay tribute to the greatness of his persona. Characterised by his…
Monday, September 8, 2025 Sanctions and Export Controls on Russia In the wake of the invasion of Ukraine, the United Statesand its allies responded with wide-ranging sanctions and export controlson Russia. What impact have these actions had on Russia’s economy andits war efforts and have sanctions achieved their intended results? Welearn more from GAO’s Nagla’a…
Moonshot AI’s new open model is catching up to Anthropic and OpenAI, raising questions about the future of the AI race.
Both historically and today, support of aging parents has largely taken the form of in-kind transfers that require physical proximity, such as housing and caregiving. If Social Security substitutes for such support, it can relax constraints on where recipients’ children live and work. We investigate the long-run intergenerational effects of the early Social Security program,…
President Donald Trump points his finger as he signs an executive order on AI next to Senate Commerce Committee Chairman Ted Cruz, R-Texas, left, and Commerce Secretary Howard Lutnick, in the Oval Office at the White House in Washington, Dec. 11, 2025. Al Drago | Reuters The Trump administration has taken new steps to assert…
What’s left is an industrial systems competition. This week, Beijing-based Moonshot AI made history with the release of its latest model, Kimi K3. At 2.8 trillion parameters, K3 is the largest open-weight model ever released—and by early accounts, it is not only competitive with America’s best closed systems, but trades blows with Anthropic’s Claude Opus 4.8 on mainstream benchmarks. For…
We are grateful to Maritz, LLC for providing the data necessary for this project. No authors accepted compensation from any party for conducting this research. We thank Zamir Ticknor for excellent research assistance. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic…
The Chronicle of Higher Education asked Carolyn Rouse, Princeton professor and president of the American Anthropological Association, to respond to the most serious indictment her discipline has faced in a generation. Vanderbilt and Washington University in St. Louis’s report on the state of humanities scholarship named anthropology “the most extreme case” of politicized decline among…
Middle East oil producers plan to build new pipelines to reduce their dependence on the Strait of Hormuz, as Iran disrupts the Gulf states’ seaborne crude exports with near daily attacks on tankers. But new pipelines will not end the threat to the region’s energy exports, analysts said. This infrastructure is just as vulnerable to…