Projects in this sub-program study interactions between the financial sector and the real economy, specifically the role of banks, regulators, and other institutions. Research topics include financial frictions; heterogenous agents; intermediation; transaction costs; asymmetric information; regulatory coordination; risk measurement, capital requirements; credit ratings; interbank markets;; microeconomic foundations; liquidity and default; maturity transformation; asset valuation; etc.
Projects in this sub-program study households and individuals, specifically the of role “choice architecture” on their economic decision-making. Research topics include risk-taking and insurance markets; time inconsistencies and the annuity paradox; cognitive biases; behavioral applications to policy; experimental testing of nudges or other regulatory interventions; behavioral welfare economics; obfuscated markets; consumer finance; probabilities and perceptions of extreme events; etc.
Projects in this sub-program study universities and groundbreaking industries, specifically regarding human capital development and applications of information technology. Research topics include labor markets for scientists and engineers; high-skilled immigration; patterns of scientific publication, collaboration, and intellectual property protection; the economics of digitization; and the social returns on investments in research and development.
Projects in this sub-program study economic researchers, specifically with regard to their needs, opportunities, incentives, and professional practices. Research topics include legal entity identifiers; data citation standards; identification and tracking systems for scholars; federal statistics; smart disclosure platforms for obfuscated markets; data and metadata management protocols; privacy and access to social science datasets; the replicability of empirical research; and the economics of knowledge contribution and distribution.
Tracing the links between basic research and real-world applications
New York Times
Medicare Advantage Spends Less on Care, So Why Is It Costing So Much?
National Bureau of Economic Research
Paper of the Week: Consumption and Income Inequality in the U.S. Since the 1960s
Technology is transforming what happens when a child goes to school
Harvard Business Review
Could Open-Source Code Make Our Y2K Fears Finally Come True?
Uber's New Tools Lets Its Staff Know Less About You
- Empirical and hypothesis-driven;
- Policy-relevant, but neither “policy research” nor advocacy;
- Motivated by nonideological questions rather than preconceived answers;
- Engaged with fundamental puzzles, but using fresh approaches;
- Unbiased, statistically significant, and replicable;
- Careful about baselines, controls, confounding variables, and econometrics;
- Savvy about markets, institutions, regulation, transaction costs, behavioral biases, etc.;
- Contributors to research infrastructure, datasets, or resources for general use;
- Generators of highly cited and catalytic results in high-quality journals;
- Ultimately concerned with the quality of life in the United States.