Many applied microeconomics papers conclude with a back-of-the-envelope calculation that scales their cross-sectional estimates to the aggregate level. These types of aggregate estimates are only vali...

Abstract. We present evidence that the high estimated MPCs from the leading household studies result in implausible macroeconomic counterfactuals. Using th

President Trump and Vice President JD Vance scolded President Volodymyr Zelensky of Ukraine during a meeting in the Oval Office on Friday, claiming he was not grateful enough for U.S. aid.