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We investigate the relationship between physical attractiveness and the time people devote to video/computer gaming. Average American teenagers spend 2.6% of their waking hours gaming, while for adults this figure is 2.7%. Using the American Add Health Study, we show that adults who are better-looking have more close friends. Arguably, gaming is costlier for them, and they thus engage in less of i
NBER WORKING PAPER SERIES CODIFICATION, TECHNOLOGY ABSORPTION, AND THE GLOBALIZATION OF THE INDUSTRIAL REVOLUTION Réka Juhász Shogo Sakabe David Weinstein Working Paper 32667 http://www.nber.org/papers/w32667 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 July 2024, revised January 2025 We give special thanks to Chris Meissner and John Tang for sharing their tra
This paper studies technology absorption worldwide in the late nineteenth century. We construct several novel datasets to test the idea that the codification of technical knowledge in the vernacular was necessary for countries to absorb the technologies of the Industrial Revolution. We find that comparative advantage shifted to industries that could benefit from patents in countries and colonies t
We study targeted lockdowns in a multi-group SIR model where infection, hospitalization and fatality rates vary between groups—in particular between the “young”, “the middle-aged” and the “old”. Our model enables a tractable quantitative analysis of optimal policy. For baseline parameter values for the COVID-19 pandemic applied to the US, we find that optimal policies differentially targeting risk
Estimating consumer surplus is challenging because it requires identification of the entire demand curve. We rely on Uber’s “surge” pricing algorithm and the richness of its individual level data to first estimate demand elasticities at several points along the demand curve. We then use these elasticity estimates to estimate consumer surplus. Using almost 50 million individual-level observations a
Concerns about the quality of China’s official GDP statistics have been a perennial question in understanding its economic dynamics. We use data on satellite-recorded nighttime lights as an independent benchmark for comparing various published indicators of the state of the Chinese economy. Using the methodology of Pinkovskiy and Sala-i-Martin (2016a and b), we exploit nighttime lights to compute
Recent academic papers have shown that the Japanese sovereign debt situation is not sustainable. The puzzle is that the bond rate has remained low and stable. Some suggest that the low yield can be explained by domestic residents' willingness to hold Japanese government bonds (JGBs) despite its low return, and that as long as domestic residents remain home-biased, the JGBs are sustainable. About 9
Ultra-high frequency data are complete transactions data which inherently arrive at random times. Marked point processes provide a theoretical framework for analysis of such data sets. The ACD model developed by Engle and Russell (1995) is then applied to IBM transactions data to develop semi-parametric hazard estimates and measures of instantaneous conditional variances. The variances are negativ
Between 1972 and 1978 U.S. high schools rapidly increased their female athletic participation rates--to approximately the same level as their male athletic participation rates--in order to comply with Title IX, a policy change that provides a unique quasi-experiment in female athletic participation. This paper examines the causal implications of this expansion in female sports participation by usi
The NBER is committed to making its web content accessible to all. Please address any concerns or requests for assistance to webaccessibility@nber.org. To request a video you are featured in be taken down, please reach out to webmaster@nber.org. In addition to working papers, the NBER disseminates affiliates’ latest findings through a range of free periodicals — the NBER Reporter, the NBER Digest,
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 and the trough month as the last m
A free quarterly publication featuring program updates, several summaries of affiliates' research, and news about the NBER. The Development of the American Economy (DAE) program was one of the first research programs launched by Martin Feldstein in 1978 when he formalized the modern structure of the NBER. The mission of the program is to research historical aspects of the American economy. Its mem
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. More recent papers are available
Today, 55 percent of the world’s population lives in cities, a share expected to reach 70 percent by 2050. Much of this growth will occur in developing countries, which are investing heavily in mass transit to expand access to jobs and services. Private minibuses already dominate many urban markets: in Lagos—the largest city in sub-Saharan Africa—minibuses accounted for 62 percent of all trips in
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