The Causal Effect of News on Inflation Expectations

This paper studies the response of household inflation expectations to television news coverage of inflation.

The Rise of Inflation Targeting

This paper discusses the interactions between politics and economic ideas leading to the adoption of inflation targeting in the United States.

AI and the Future of Society and Economy

Large language and generative AI models like ChatGPT are the equivalent of the first automobiles: fun to play with, somewhat unreliable, and maybe a little dangerous. But over time, the lesson for will be clear: Who Learns Fastest, Wins.

Automated Detection of Emotion in Central Bank Communication: A Warning

Can LLMs help us better understand the role of emotion in central bank communication?

America Needs a Transcontinental Railroad

A proposed merger of Union Pacific and Norfolk Southern would foster efficiencies, but opponents say the deal would kill competition.

America’s great migration

The young and ambitious are fleeing the stagnant coastal states for the booming heartland.

How California is failing its Latino population

The current California regime has been a disaster for minorities.

Higher Ed’s Diseconomies of Scale