id	sid	tid	token	lemma	pos
www-nber-org-9813	1	1	The	the	DT
www-nber-org-9813	1	2	Economic	Economic	NNP
www-nber-org-9813	1	3	Limits	Limits	NNPS
www-nber-org-9813	1	4	of	of	IN
www-nber-org-9813	1	5	Bitcoin	Bitcoin	NNP
www-nber-org-9813	1	6	and	and	CC
www-nber-org-9813	1	7	the	the	DT
www-nber-org-9813	1	8	Blockchain	Blockchain	NNP
www-nber-org-9813	1	9	|	|	NNP
www-nber-org-9813	1	10	NBER	NBER	NNP
www-nber-org-9813	1	11	Skip	Skip	NNP
www-nber-org-9813	1	12	to	to	IN
www-nber-org-9813	1	13	main	main	JJ
www-nber-org-9813	1	14	content	content	NN
www-nber-org-9813	1	15	Subscribe	Subscribe	NNP
www-nber-org-9813	1	16	Media	medium	NNS
www-nber-org-9813	1	17	Open	open	JJ
www-nber-org-9813	1	18	Calls	call	NNS
www-nber-org-9813	1	19	Close	Close	NNP
www-nber-org-9813	1	20	Search	Search	NNP
www-nber-org-9813	1	21	Research	Research	NNP
www-nber-org-9813	1	22	EXPLORE	EXPLORE	NNP
www-nber-org-9813	1	23	Research	Research	NNP
www-nber-org-9813	1	24	Findings	Findings	NNPS
www-nber-org-9813	1	25	Working	Working	NNP
www-nber-org-9813	1	26	Papers	Papers	NNPS
www-nber-org-9813	1	27	Books	Books	NNPS
www-nber-org-9813	1	28	&	&	CC
www-nber-org-9813	1	29	Chapters	Chapters	NNPS
www-nber-org-9813	1	30	Lectures	Lectures	NNP
www-nber-org-9813	1	31	Research	Research	NNP
www-nber-org-9813	1	32	Spotlights	spotlight	VBZ
www-nber-org-9813	1	33	Periodicals	Periodicals	NNPS
www-nber-org-9813	1	34	The	the	DT
www-nber-org-9813	1	35	Digest	Digest	NNP
www-nber-org-9813	1	36	The	the	DT
www-nber-org-9813	1	37	Reporter	reporter	NN
www-nber-org-9813	1	38	The	the	DT
www-nber-org-9813	1	39	Bulletin	Bulletin	NNP
www-nber-org-9813	1	40	on	on	IN
www-nber-org-9813	1	41	Retirement	Retirement	NNP
www-nber-org-9813	1	42	and	and	CC
www-nber-org-9813	1	43	Disability	Disability	NNP
www-nber-org-9813	1	44	The	the	DT
www-nber-org-9813	1	45	Bulletin	Bulletin	NNP
www-nber-org-9813	1	46	on	on	IN
www-nber-org-9813	1	47	Health	Health	NNP
www-nber-org-9813	1	48	The	the	DT
www-nber-org-9813	1	49	Bulletin	Bulletin	NNP
www-nber-org-9813	1	50	on	on	IN
www-nber-org-9813	1	51	Entrepreneurship	Entrepreneurship	NNP
www-nber-org-9813	1	52	Periodicals	Periodicals	NNPS
www-nber-org-9813	1	53	Archive	Archive	NNP
www-nber-org-9813	1	54	Data	Data	NNP
www-nber-org-9813	1	55	&	&	CC
www-nber-org-9813	1	56	Business	Business	NNP
www-nber-org-9813	1	57	Cycles	Cycles	NNPS
www-nber-org-9813	1	58	Boston	Boston	NNP
www-nber-org-9813	1	59	Research	Research	NNP
www-nber-org-9813	1	60	Data	Data	NNP
www-nber-org-9813	1	61	Center	Center	NNP
www-nber-org-9813	1	62	Business	Business	NNP
www-nber-org-9813	1	63	Cycle	Cycle	NNP
www-nber-org-9813	1	64	Dating	Dating	NNP
www-nber-org-9813	1	65	Public	Public	NNP
www-nber-org-9813	1	66	Use	Use	NNP
www-nber-org-9813	1	67	Data	Data	NNP
www-nber-org-9813	1	68	Archive	Archive	NNP
www-nber-org-9813	1	69	Topics	Topics	NNPS
www-nber-org-9813	1	70	COVID-19	COVID-19	,
www-nber-org-9813	1	71	Unemployment	Unemployment	NNP
www-nber-org-9813	1	72	and	and	CC
www-nber-org-9813	1	73	Immigration	Immigration	NNP
www-nber-org-9813	1	74	Energy	Energy	NNP
www-nber-org-9813	1	75	Entrepreneurship	Entrepreneurship	NNP
www-nber-org-9813	1	76	Trade	Trade	NNP
www-nber-org-9813	1	77	Programs	Programs	NNPS
www-nber-org-9813	1	78	&	&	CC
www-nber-org-9813	1	79	Projects	Projects	NNPS
www-nber-org-9813	1	80	EXPLORE	EXPLORE	NNP
www-nber-org-9813	1	81	Programs	Programs	NNPS
www-nber-org-9813	1	82	&	&	CC
www-nber-org-9813	1	83	Projects	Projects	NNPS
www-nber-org-9813	1	84	Programs	Programs	NNP
www-nber-org-9813	1	85	Economics	Economics	NNP
www-nber-org-9813	1	86	of	of	IN
www-nber-org-9813	1	87	Aging	age	VBG
www-nber-org-9813	1	88	Asset	Asset	NNP
www-nber-org-9813	1	89	Pricing	Pricing	NNP
www-nber-org-9813	1	90	Children	Children	NNP
www-nber-org-9813	1	91	Corporate	Corporate	NNP
www-nber-org-9813	1	92	Finance	Finance	NNP
www-nber-org-9813	1	93	Development	Development	NNP
www-nber-org-9813	1	94	Economics	Economics	NNP
www-nber-org-9813	1	95	Development	Development	NNP
www-nber-org-9813	1	96	of	of	IN
www-nber-org-9813	1	97	the	the	DT
www-nber-org-9813	1	98	American	american	JJ
www-nber-org-9813	1	99	Economy	Economy	NNP
www-nber-org-9813	1	100	Economic	Economic	NNP
www-nber-org-9813	1	101	Fluctuations	Fluctuations	NNPS
www-nber-org-9813	1	102	and	and	CC
www-nber-org-9813	1	103	Growth	Growth	NNP
www-nber-org-9813	1	104	Economics	Economics	NNP
www-nber-org-9813	1	105	of	of	IN
www-nber-org-9813	1	106	Education	Education	NNP
www-nber-org-9813	1	107	Environment	Environment	NNP
www-nber-org-9813	1	108	and	and	CC
www-nber-org-9813	1	109	Energy	Energy	NNP
www-nber-org-9813	1	110	Economics	Economics	NNP
www-nber-org-9813	1	111	Health	Health	NNP
www-nber-org-9813	1	112	Care	Care	NNP
www-nber-org-9813	1	113	Health	Health	NNP
www-nber-org-9813	1	114	Economics	Economics	NNP
www-nber-org-9813	1	115	Industrial	Industrial	NNP
www-nber-org-9813	1	116	Organization	Organization	NNP
www-nber-org-9813	1	117	International	International	NNP
www-nber-org-9813	1	118	Finance	Finance	NNP
www-nber-org-9813	1	119	and	and	CC
www-nber-org-9813	1	120	Macroeconomics	Macroeconomics	NNP
www-nber-org-9813	1	121	International	International	NNP
www-nber-org-9813	1	122	Trade	Trade	NNP
www-nber-org-9813	1	123	and	and	CC
www-nber-org-9813	1	124	Investment	Investment	NNP
www-nber-org-9813	1	125	Labor	Labor	NNP
www-nber-org-9813	1	126	Studies	Studies	NNPS
www-nber-org-9813	1	127	Law	Law	NNP
www-nber-org-9813	1	128	and	and	CC
www-nber-org-9813	1	129	Economics	Economics	NNP
www-nber-org-9813	1	130	Monetary	Monetary	NNP
www-nber-org-9813	1	131	Economics	Economics	NNP
www-nber-org-9813	1	132	Political	Political	NNP
www-nber-org-9813	1	133	Economy	Economy	NNP
www-nber-org-9813	1	134	Productivity	Productivity	NNP
www-nber-org-9813	1	135	,	,	,
www-nber-org-9813	1	136	Innovation	Innovation	NNP
www-nber-org-9813	1	137	,	,	,
www-nber-org-9813	1	138	and	and	CC
www-nber-org-9813	1	139	Entrepreneurship	Entrepreneurship	NNP
www-nber-org-9813	1	140	Public	Public	NNP
www-nber-org-9813	1	141	Economics	Economics	NNP
www-nber-org-9813	1	142	Working	Working	NNP
www-nber-org-9813	1	143	Groups	Groups	NNPS
www-nber-org-9813	1	144	Behavioral	Behavioral	NNP
www-nber-org-9813	1	145	Finance	Finance	NNP
www-nber-org-9813	1	146	Chinese	Chinese	NNP
www-nber-org-9813	1	147	Economy	Economy	NNP
www-nber-org-9813	1	148	Cohort	Cohort	NNP
www-nber-org-9813	1	149	Studies	Studies	NNPS
www-nber-org-9813	1	150	Economics	Economics	NNP
www-nber-org-9813	1	151	of	of	IN
www-nber-org-9813	1	152	Crime	Crime	NNP
www-nber-org-9813	1	153	Entrepreneurship	Entrepreneurship	NNP
www-nber-org-9813	1	154	Household	Household	NNP
www-nber-org-9813	1	155	Finance	Finance	NNP
www-nber-org-9813	1	156	Innovation	Innovation	NNP
www-nber-org-9813	1	157	Policy	Policy	NNP
www-nber-org-9813	1	158	Insurance	Insurance	NNP
www-nber-org-9813	1	159	Market	Market	NNP
www-nber-org-9813	1	160	Design	Design	NNP
www-nber-org-9813	1	161	Organizational	Organizational	NNP
www-nber-org-9813	1	162	Economics	Economics	NNP
www-nber-org-9813	1	163	Personnel	Personnel	NNP
www-nber-org-9813	1	164	Economics	Economics	NNP
www-nber-org-9813	1	165	Race	Race	NNP
www-nber-org-9813	1	166	and	and	CC
www-nber-org-9813	1	167	Stratification	Stratification	NNP
www-nber-org-9813	1	168	in	in	IN
www-nber-org-9813	1	169	the	the	DT
www-nber-org-9813	1	170	Economy	Economy	NNP
www-nber-org-9813	1	171	Risks	Risks	NNPS
www-nber-org-9813	1	172	of	of	IN
www-nber-org-9813	1	173	Financial	Financial	NNP
www-nber-org-9813	1	174	Institutions	Institutions	NNP
www-nber-org-9813	1	175	Urban	Urban	NNP
www-nber-org-9813	1	176	Economics	Economics	NNP
www-nber-org-9813	1	177	Projects	Projects	NNPS
www-nber-org-9813	1	178	&	&	CC
www-nber-org-9813	1	179	Centers	Centers	NNPS
www-nber-org-9813	1	180	Center	Center	NNP
www-nber-org-9813	1	181	for	for	IN
www-nber-org-9813	1	182	Aging	Aging	NNP
www-nber-org-9813	1	183	and	and	CC
www-nber-org-9813	1	184	Health	Health	NNP
www-nber-org-9813	1	185	Research	Research	NNP
www-nber-org-9813	1	186	Conference	Conference	NNP
www-nber-org-9813	1	187	on	on	IN
www-nber-org-9813	1	188	Econometrics	Econometrics	NNP
www-nber-org-9813	1	189	and	and	CC
www-nber-org-9813	1	190	Mathematical	Mathematical	NNP
www-nber-org-9813	1	191	Economics	Economics	NNP
www-nber-org-9813	1	192	Conference	Conference	NNP
www-nber-org-9813	1	193	on	on	IN
www-nber-org-9813	1	194	Research	Research	NNP
www-nber-org-9813	1	195	in	in	IN
www-nber-org-9813	1	196	Income	Income	NNP
www-nber-org-9813	1	197	and	and	CC
www-nber-org-9813	1	198	Wealth	Wealth	NNP
www-nber-org-9813	1	199	Economics	Economics	NNP
www-nber-org-9813	1	200	of	of	IN
www-nber-org-9813	1	201	Digitization	Digitization	NNP
www-nber-org-9813	1	202	Gender	Gender	NNP
www-nber-org-9813	1	203	in	in	IN
www-nber-org-9813	1	204	the	the	DT
www-nber-org-9813	1	205	Economy	economy	NN
www-nber-org-9813	1	206	Illinois	Illinois	NNP
www-nber-org-9813	1	207	Workplace	Workplace	NNP
www-nber-org-9813	1	208	Wellness	Wellness	NNP
www-nber-org-9813	1	209	Study	Study	NNP
www-nber-org-9813	1	210	Improving	Improving	NNP
www-nber-org-9813	1	211	Health	Health	NNP
www-nber-org-9813	1	212	Outcomes	Outcomes	NNPS
www-nber-org-9813	1	213	for	for	IN
www-nber-org-9813	1	214	an	an	DT
www-nber-org-9813	1	215	Aging	Aging	NNP
www-nber-org-9813	1	216	Population	Population	NNP
www-nber-org-9813	1	217	Macroeconomics	Macroeconomics	NNP
www-nber-org-9813	1	218	Annual	Annual	NNP
www-nber-org-9813	1	219	Measuring	Measuring	NNP
www-nber-org-9813	1	220	the	the	DT
www-nber-org-9813	1	221	Clinical	clinical	JJ
www-nber-org-9813	1	222	and	and	CC
www-nber-org-9813	1	223	Economic	Economic	NNP
www-nber-org-9813	1	224	Outcomes	Outcomes	NNPS
www-nber-org-9813	1	225	Associated	associate	VBN
www-nber-org-9813	1	226	with	with	IN
www-nber-org-9813	1	227	Delivery	Delivery	NNP
www-nber-org-9813	1	228	Systems	Systems	NNP
www-nber-org-9813	1	229	Oregon	Oregon	NNP
www-nber-org-9813	1	230	Health	Health	NNP
www-nber-org-9813	1	231	Insurance	Insurance	NNP
www-nber-org-9813	1	232	Experiment	Experiment	NNP
www-nber-org-9813	1	233	Retirement	Retirement	NNP
www-nber-org-9813	1	234	and	and	CC
www-nber-org-9813	1	235	Disability	Disability	NNP
www-nber-org-9813	1	236	Research	Research	NNP
www-nber-org-9813	1	237	Center	Center	NNP
www-nber-org-9813	1	238	The	the	DT
www-nber-org-9813	1	239	Roybal	Roybal	NNP
www-nber-org-9813	1	240	Center	Center	NNP
www-nber-org-9813	1	241	for	for	IN
www-nber-org-9813	1	242	Behavior	Behavior	NNP
www-nber-org-9813	1	243	Change	Change	NNP
www-nber-org-9813	1	244	in	in	IN
www-nber-org-9813	1	245	Health	Health	NNP
www-nber-org-9813	1	246	Satellite	Satellite	NNP
www-nber-org-9813	1	247	National	National	NNP
www-nber-org-9813	1	248	Health	Health	NNP
www-nber-org-9813	1	249	Accounts	Accounts	NNPS
www-nber-org-9813	1	250	Science	Science	NNP
www-nber-org-9813	1	251	of	of	IN
www-nber-org-9813	1	252	Science	Science	NNP
www-nber-org-9813	1	253	Funding	Funding	NNP
www-nber-org-9813	1	254	Training	Training	NNP
www-nber-org-9813	1	255	Program	Program	NNP
www-nber-org-9813	1	256	in	in	IN
www-nber-org-9813	1	257	Aging	Aging	NNP
www-nber-org-9813	1	258	and	and	CC
www-nber-org-9813	1	259	Health	Health	NNP
www-nber-org-9813	1	260	Economics	Economics	NNP
www-nber-org-9813	1	261	Transportation	Transportation	NNP
www-nber-org-9813	1	262	Economics	Economics	NNP
www-nber-org-9813	1	263	in	in	IN
www-nber-org-9813	1	264	the	the	DT
www-nber-org-9813	1	265	21st	21st	JJ
www-nber-org-9813	1	266	Century	Century	NNP
www-nber-org-9813	1	267	Union	Union	NNP
www-nber-org-9813	1	268	Army	Army	NNP
www-nber-org-9813	1	269	Data	Data	NNP
www-nber-org-9813	1	270	&	&	CC
www-nber-org-9813	1	271	Early	Early	NNP
www-nber-org-9813	1	272	Indicators	Indicators	NNPS
www-nber-org-9813	1	273	Value	Value	NNP
www-nber-org-9813	1	274	of	of	IN
www-nber-org-9813	1	275	Medical	Medical	NNP
www-nber-org-9813	1	276	Research	Research	NNP
www-nber-org-9813	1	277	Women	Women	NNPS
www-nber-org-9813	1	278	Working	work	VBG
www-nber-org-9813	1	279	Longer	long	JJR
www-nber-org-9813	1	280	Conferences	conference	VBZ
www-nber-org-9813	1	281	Affiliated	Affiliated	NNP
www-nber-org-9813	1	282	Scholars	Scholars	NNPS
www-nber-org-9813	1	283	NBER	NBER	NNP
www-nber-org-9813	1	284	News	News	NNP
www-nber-org-9813	1	285	EXPLORE	EXPLORE	NNP
www-nber-org-9813	1	286	NBER	NBER	NNP
www-nber-org-9813	1	287	News	News	NNP
www-nber-org-9813	1	288	Research	Research	NNP
www-nber-org-9813	1	289	in	in	IN
www-nber-org-9813	1	290	the	the	DT
www-nber-org-9813	1	291	News	News	NNP
www-nber-org-9813	1	292	Nobel	Nobel	NNP
www-nber-org-9813	1	293	Laureates	Laureates	NNP
www-nber-org-9813	1	294	Featured	Featured	NNP
www-nber-org-9813	1	295	Working	Working	NNP
www-nber-org-9813	1	296	Papers	Papers	NNPS
www-nber-org-9813	1	297	Archive	Archive	NNP
www-nber-org-9813	1	298	Career	Career	NNP
www-nber-org-9813	1	299	Resources	Resources	NNPS
www-nber-org-9813	1	300	EXPLORE	EXPLORE	NNP
www-nber-org-9813	1	301	Career	Career	NNP
www-nber-org-9813	1	302	Resources	Resources	NNPS
www-nber-org-9813	1	303	RA	RA	NNP
www-nber-org-9813	1	304	Positions	Positions	NNPS
www-nber-org-9813	1	305	–	–	:
www-nber-org-9813	1	306	at	at	IN
www-nber-org-9813	1	307	NBER	NBER	NNP
www-nber-org-9813	1	308	RA	RA	NNP
www-nber-org-9813	1	309	Positions	Positions	NNPS
www-nber-org-9813	1	310	–	–	:
www-nber-org-9813	1	311	not	not	RB
www-nber-org-9813	1	312	at	at	IN
www-nber-org-9813	1	313	the	the	DT
www-nber-org-9813	1	314	NBER	NBER	NNP
www-nber-org-9813	1	315	Staff	Staff	NNP
www-nber-org-9813	1	316	Positions	position	NNS
www-nber-org-9813	1	317	at	at	IN
www-nber-org-9813	1	318	NBER	NBER	NNP
www-nber-org-9813	1	319	Calls	Calls	NNPS
www-nber-org-9813	1	320	for	for	IN
www-nber-org-9813	1	321	Fellowship	Fellowship	NNP
www-nber-org-9813	1	322	Applications	Applications	NNPS
www-nber-org-9813	1	323	Current	Current	NNP
www-nber-org-9813	1	324	Fellowship	Fellowship	NNP
www-nber-org-9813	1	325	Recipients	Recipients	NNPS
www-nber-org-9813	1	326	PhD	phd	NN
www-nber-org-9813	1	327	Candidates	candidate	NNS
www-nber-org-9813	1	328	in	in	IN
www-nber-org-9813	1	329	Economics	Economics	NNP
www-nber-org-9813	1	330	About	about	IN
www-nber-org-9813	1	331	EXPLORE	EXPLORE	NNP
www-nber-org-9813	1	332	About	about	IN
www-nber-org-9813	1	333	Leadership	Leadership	NNP
www-nber-org-9813	1	334	&	&	CC
www-nber-org-9813	1	335	Governance	Governance	NNP
www-nber-org-9813	1	336	Support	Support	NNP
www-nber-org-9813	1	337	&	&	CC
www-nber-org-9813	1	338	Funding	Funding	NNP
www-nber-org-9813	1	339	History	history	NN
www-nber-org-9813	1	340	Standards	Standards	NNPS
www-nber-org-9813	1	341	of	of	IN
www-nber-org-9813	1	342	Conduct	Conduct	NNP
www-nber-org-9813	1	343	Privacy	Privacy	NNP
www-nber-org-9813	1	344	Policy	Policy	NNP
www-nber-org-9813	1	345	Staff	Staff	NNP
www-nber-org-9813	1	346	Employment	Employment	NNP
www-nber-org-9813	1	347	Opportunities	Opportunities	NNPS
www-nber-org-9813	1	348	at	at	IN
www-nber-org-9813	1	349	NBER	NBER	NNP
www-nber-org-9813	1	350	Subscribe	Subscribe	NNP
www-nber-org-9813	1	351	Media	Media	NNP
www-nber-org-9813	1	352	Open	Open	NNP
www-nber-org-9813	1	353	Calls	Calls	NNPS
www-nber-org-9813	1	354	Search	Search	NNP
www-nber-org-9813	1	355	Home	Home	NNP
www-nber-org-9813	1	356	Research	Research	NNP
www-nber-org-9813	1	357	Working	Working	NNP
www-nber-org-9813	1	358	Papers	Papers	NNPS
www-nber-org-9813	1	359	The	the	DT
www-nber-org-9813	1	360	Economic	Economic	NNP
www-nber-org-9813	1	361	Limits	Limits	NNPS
www-nber-org-9813	1	362	of	of	IN
www-nber-org-9813	1	363	Bitcoin	Bitcoin	NNP
www-nber-org-9813	1	364	and	and	CC
www-nber-org-9813	1	365	the	the	DT
www-nber-org-9813	1	366	…	…	NFP
www-nber-org-9813	1	367	The	the	DT
www-nber-org-9813	1	368	Economic	Economic	NNP
www-nber-org-9813	1	369	Limits	Limits	NNPS
www-nber-org-9813	1	370	of	of	IN
www-nber-org-9813	1	371	Bitcoin	Bitcoin	NNP
www-nber-org-9813	1	372	and	and	CC
www-nber-org-9813	1	373	the	the	DT
www-nber-org-9813	1	374	Blockchain	Blockchain	NNP
www-nber-org-9813	1	375	Eric	Eric	NNP
www-nber-org-9813	1	376	Budish	Budish	NNP
www-nber-org-9813	1	377	Share	Share	NNP
www-nber-org-9813	1	378	Twitter	twitter	NN
www-nber-org-9813	1	379	LinkedIn	LinkedIn	NNP
www-nber-org-9813	1	380	Email	email	NN
www-nber-org-9813	1	381	Working	Working	NNP
www-nber-org-9813	1	382	Paper	Paper	NNP
www-nber-org-9813	1	383	24717	24717	CD
www-nber-org-9813	1	384	DOI	DOI	NNP
www-nber-org-9813	1	385	10.3386	10.3386	CD
www-nber-org-9813	1	386	/	/	SYM
www-nber-org-9813	1	387	w24717	w24717	NN
www-nber-org-9813	1	388	Issue	Issue	NNP
www-nber-org-9813	1	389	Date	Date	NNP
www-nber-org-9813	1	390	June	June	NNP
www-nber-org-9813	1	391	2018	2018	CD
www-nber-org-9813	1	392	The	the	DT
www-nber-org-9813	1	393	amount	amount	NN
www-nber-org-9813	1	394	of	of	IN
www-nber-org-9813	1	395	computational	computational	JJ
www-nber-org-9813	1	396	power	power	NN
www-nber-org-9813	1	397	devoted	devote	VBN
www-nber-org-9813	1	398	to	to	IN
www-nber-org-9813	1	399	anonymous	anonymous	JJ
www-nber-org-9813	1	400	,	,	,
www-nber-org-9813	1	401	decentralized	decentralized	JJ
www-nber-org-9813	1	402	blockchains	blockchain	NNS
www-nber-org-9813	1	403	such	such	JJ
www-nber-org-9813	1	404	as	as	IN
www-nber-org-9813	1	405	Bitcoin	Bitcoin	NNP
www-nber-org-9813	1	406	's	's	POS
www-nber-org-9813	1	407	must	must	MD
www-nber-org-9813	1	408	simultaneously	simultaneously	RB
www-nber-org-9813	1	409	satisfy	satisfy	VB
www-nber-org-9813	1	410	two	two	CD
www-nber-org-9813	1	411	conditions	condition	NNS
www-nber-org-9813	1	412	in	in	IN
www-nber-org-9813	1	413	equilibrium	equilibrium	NN
www-nber-org-9813	1	414	:	:	:
www-nber-org-9813	1	415	(	(	-LRB-
www-nber-org-9813	1	416	1	1	LS
www-nber-org-9813	1	417	)	)	-RRB-
www-nber-org-9813	1	418	a	a	DT
www-nber-org-9813	1	419	zero	zero	CD
www-nber-org-9813	1	420	-	-	HYPH
www-nber-org-9813	1	421	profit	profit	NN
www-nber-org-9813	1	422	condition	condition	NN
www-nber-org-9813	1	423	among	among	IN
www-nber-org-9813	1	424	miners	miner	NNS
www-nber-org-9813	1	425	,	,	,
www-nber-org-9813	1	426	who	who	WP
www-nber-org-9813	1	427	engage	engage	VBP
www-nber-org-9813	1	428	in	in	IN
www-nber-org-9813	1	429	a	a	DT
www-nber-org-9813	1	430	rent	rent	NN
www-nber-org-9813	1	431	-	-	HYPH
www-nber-org-9813	1	432	seeking	seek	VBG
www-nber-org-9813	1	433	competition	competition	NN
www-nber-org-9813	1	434	for	for	IN
www-nber-org-9813	1	435	the	the	DT
www-nber-org-9813	1	436	prize	prize	NN
www-nber-org-9813	1	437	associated	associate	VBN
www-nber-org-9813	1	438	with	with	IN
www-nber-org-9813	1	439	adding	add	VBG
www-nber-org-9813	1	440	the	the	DT
www-nber-org-9813	1	441	next	next	JJ
www-nber-org-9813	1	442	block	block	NN
www-nber-org-9813	1	443	to	to	IN
www-nber-org-9813	1	444	the	the	DT
www-nber-org-9813	1	445	chain	chain	NN
www-nber-org-9813	1	446	;	;	:
www-nber-org-9813	1	447	and	and	CC
www-nber-org-9813	1	448	(	(	-LRB-
www-nber-org-9813	1	449	2	2	LS
www-nber-org-9813	1	450	)	)	-RRB-
www-nber-org-9813	1	451	an	an	DT
www-nber-org-9813	1	452	incentive	incentive	NN
www-nber-org-9813	1	453	compatibility	compatibility	NN
www-nber-org-9813	1	454	condition	condition	NN
www-nber-org-9813	1	455	on	on	IN
www-nber-org-9813	1	456	the	the	DT
www-nber-org-9813	1	457	system	system	NN
www-nber-org-9813	1	458	's	's	POS
www-nber-org-9813	1	459	vulnerability	vulnerability	NN
www-nber-org-9813	1	460	to	to	IN
www-nber-org-9813	1	461	a	a	DT
www-nber-org-9813	1	462	“	"	``
www-nber-org-9813	1	463	majority	majority	NN
www-nber-org-9813	1	464	attack	attack	NN
www-nber-org-9813	1	465	”	"	''
www-nber-org-9813	1	466	,	,	,
www-nber-org-9813	1	467	namely	namely	RB
www-nber-org-9813	1	468	that	that	IN
www-nber-org-9813	1	469	the	the	DT
www-nber-org-9813	1	470	computational	computational	JJ
www-nber-org-9813	1	471	costs	cost	NNS
www-nber-org-9813	1	472	of	of	IN
www-nber-org-9813	1	473	such	such	PDT
www-nber-org-9813	1	474	an	an	DT
www-nber-org-9813	1	475	attack	attack	NN
www-nber-org-9813	1	476	must	must	MD
www-nber-org-9813	1	477	exceed	exceed	VB
www-nber-org-9813	1	478	the	the	DT
www-nber-org-9813	1	479	benefits	benefit	NNS
www-nber-org-9813	1	480	.	.	.
www-nber-org-9813	2	1	Together	together	RB
www-nber-org-9813	2	2	,	,	,
www-nber-org-9813	2	3	these	these	DT
www-nber-org-9813	2	4	two	two	CD
www-nber-org-9813	2	5	equations	equation	NNS
www-nber-org-9813	2	6	imply	imply	VBP
www-nber-org-9813	2	7	that	that	IN
www-nber-org-9813	2	8	(	(	-LRB-
www-nber-org-9813	2	9	3	3	LS
www-nber-org-9813	2	10	)	)	-RRB-
www-nber-org-9813	2	11	the	the	DT
www-nber-org-9813	2	12	recurring	recurring	NN
www-nber-org-9813	2	13	,	,	,
www-nber-org-9813	2	14	“	"	``
www-nber-org-9813	2	15	flow	flow	NN
www-nber-org-9813	2	16	”	"	''
www-nber-org-9813	2	17	,	,	,
www-nber-org-9813	2	18	payments	payment	NNS
www-nber-org-9813	2	19	to	to	IN
www-nber-org-9813	2	20	miners	miner	NNS
www-nber-org-9813	2	21	for	for	IN
www-nber-org-9813	2	22	running	run	VBG
www-nber-org-9813	2	23	the	the	DT
www-nber-org-9813	2	24	blockchain	blockchain	NN
www-nber-org-9813	2	25	must	must	MD
www-nber-org-9813	2	26	be	be	VB
www-nber-org-9813	2	27	large	large	JJ
www-nber-org-9813	2	28	relative	relative	JJ
www-nber-org-9813	2	29	to	to	IN
www-nber-org-9813	2	30	the	the	DT
www-nber-org-9813	2	31	one	one	CD
www-nber-org-9813	2	32	-	-	HYPH
www-nber-org-9813	2	33	off	off	NN
www-nber-org-9813	2	34	,	,	,
www-nber-org-9813	2	35	“	"	``
www-nber-org-9813	2	36	stock	stock	NN
www-nber-org-9813	2	37	”	"	''
www-nber-org-9813	2	38	,	,	,
www-nber-org-9813	2	39	benefits	benefit	NNS
www-nber-org-9813	2	40	of	of	IN
www-nber-org-9813	2	41	attacking	attack	VBG
www-nber-org-9813	2	42	it	-PRON-	PRP
www-nber-org-9813	2	43	.	.	.
www-nber-org-9813	3	1	This	this	DT
www-nber-org-9813	3	2	is	be	VBZ
www-nber-org-9813	3	3	very	very	RB
www-nber-org-9813	3	4	expensive	expensive	JJ
www-nber-org-9813	3	5	!	!	.
www-nber-org-9813	4	1	The	the	DT
www-nber-org-9813	4	2	constraint	constraint	NN
www-nber-org-9813	4	3	is	be	VBZ
www-nber-org-9813	4	4	softer	soft	JJR
www-nber-org-9813	4	5	(	(	-LRB-
www-nber-org-9813	4	6	i.e.	i.e.	FW
www-nber-org-9813	4	7	,	,	,
www-nber-org-9813	4	8	stock	stock	NN
www-nber-org-9813	4	9	versus	versus	IN
www-nber-org-9813	4	10	stock	stock	NN
www-nber-org-9813	4	11	)	)	-RRB-
www-nber-org-9813	4	12	if	if	IN
www-nber-org-9813	4	13	both	both	DT
www-nber-org-9813	4	14	(	(	-LRB-
www-nber-org-9813	4	15	i	i	NN
www-nber-org-9813	4	16	)	)	-RRB-
www-nber-org-9813	4	17	the	the	DT
www-nber-org-9813	4	18	mining	mining	NN
www-nber-org-9813	4	19	technology	technology	NN
www-nber-org-9813	4	20	used	use	VBN
www-nber-org-9813	4	21	to	to	TO
www-nber-org-9813	4	22	run	run	VB
www-nber-org-9813	4	23	the	the	DT
www-nber-org-9813	4	24	blockchain	blockchain	NN
www-nber-org-9813	4	25	is	be	VBZ
www-nber-org-9813	4	26	both	both	CC
www-nber-org-9813	4	27	scarce	scarce	JJ
www-nber-org-9813	4	28	and	and	CC
www-nber-org-9813	4	29	non	non	JJ
www-nber-org-9813	4	30	-	-	JJ
www-nber-org-9813	4	31	repurposable	repurposable	JJ
www-nber-org-9813	4	32	,	,	,
www-nber-org-9813	4	33	and	and	CC
www-nber-org-9813	4	34	(	(	-LRB-
www-nber-org-9813	4	35	ii	ii	LS
www-nber-org-9813	4	36	)	)	-RRB-
www-nber-org-9813	4	37	any	any	DT
www-nber-org-9813	4	38	majority	majority	NN
www-nber-org-9813	4	39	attack	attack	NN
www-nber-org-9813	4	40	is	be	VBZ
www-nber-org-9813	4	41	a	a	DT
www-nber-org-9813	4	42	“	"	``
www-nber-org-9813	4	43	sabotage	sabotage	NN
www-nber-org-9813	4	44	”	"	''
www-nber-org-9813	4	45	in	in	IN
www-nber-org-9813	4	46	that	that	IN
www-nber-org-9813	4	47	it	-PRON-	PRP
www-nber-org-9813	4	48	causes	cause	VBZ
www-nber-org-9813	4	49	a	a	DT
www-nber-org-9813	4	50	collapse	collapse	NN
www-nber-org-9813	4	51	in	in	IN
www-nber-org-9813	4	52	the	the	DT
www-nber-org-9813	4	53	economic	economic	JJ
www-nber-org-9813	4	54	value	value	NN
www-nber-org-9813	4	55	of	of	IN
www-nber-org-9813	4	56	the	the	DT
www-nber-org-9813	4	57	blockchain	blockchain	NN
www-nber-org-9813	4	58	;	;	:
www-nber-org-9813	4	59	however	however	RB
www-nber-org-9813	4	60	,	,	,
www-nber-org-9813	4	61	reliance	reliance	NN
www-nber-org-9813	4	62	on	on	IN
www-nber-org-9813	4	63	non	non	JJ
www-nber-org-9813	4	64	-	-	JJ
www-nber-org-9813	4	65	repurposable	repurposable	JJ
www-nber-org-9813	4	66	technology	technology	NN
www-nber-org-9813	4	67	for	for	IN
www-nber-org-9813	4	68	security	security	NN
www-nber-org-9813	4	69	and	and	CC
www-nber-org-9813	4	70	vulnerability	vulnerability	NN
www-nber-org-9813	4	71	to	to	TO
www-nber-org-9813	4	72	sabotage	sabotage	VB
www-nber-org-9813	4	73	each	each	DT
www-nber-org-9813	4	74	raise	raise	VB
www-nber-org-9813	4	75	their	-PRON-	PRP$
www-nber-org-9813	4	76	own	own	JJ
www-nber-org-9813	4	77	concerns	concern	NNS
www-nber-org-9813	4	78	,	,	,
www-nber-org-9813	4	79	and	and	CC
www-nber-org-9813	4	80	point	point	NN
www-nber-org-9813	4	81	to	to	IN
www-nber-org-9813	4	82	specific	specific	JJ
www-nber-org-9813	4	83	collapse	collapse	NN
www-nber-org-9813	4	84	scenarios	scenario	NNS
www-nber-org-9813	4	85	.	.	.
www-nber-org-9813	5	1	In	in	IN
www-nber-org-9813	5	2	particular	particular	JJ
www-nber-org-9813	5	3	,	,	,
www-nber-org-9813	5	4	the	the	DT
www-nber-org-9813	5	5	model	model	NN
www-nber-org-9813	5	6	suggests	suggest	VBZ
www-nber-org-9813	5	7	that	that	IN
www-nber-org-9813	5	8	Bitcoin	Bitcoin	NNP
www-nber-org-9813	5	9	would	would	MD
www-nber-org-9813	5	10	be	be	VB
www-nber-org-9813	5	11	majority	majority	NN
www-nber-org-9813	5	12	attacked	attack	VBN
www-nber-org-9813	5	13	if	if	IN
www-nber-org-9813	5	14	it	-PRON-	PRP
www-nber-org-9813	5	15	became	become	VBD
www-nber-org-9813	5	16	sufficiently	sufficiently	RB
www-nber-org-9813	5	17	economically	economically	RB
www-nber-org-9813	5	18	important	important	JJ
www-nber-org-9813	5	19	—	—	:
www-nber-org-9813	5	20	e.g.	e.g.	RB
www-nber-org-9813	5	21	,	,	,
www-nber-org-9813	5	22	if	if	IN
www-nber-org-9813	5	23	it	-PRON-	PRP
www-nber-org-9813	5	24	became	become	VBD
www-nber-org-9813	5	25	a	a	DT
www-nber-org-9813	5	26	“	"	``
www-nber-org-9813	5	27	store	store	NN
www-nber-org-9813	5	28	of	of	IN
www-nber-org-9813	5	29	value	value	NN
www-nber-org-9813	5	30	”	"	''
www-nber-org-9813	5	31	akin	akin	JJ
www-nber-org-9813	5	32	to	to	IN
www-nber-org-9813	5	33	gold	gold	NN
www-nber-org-9813	5	34	—	—	:
www-nber-org-9813	5	35	which	which	WDT
www-nber-org-9813	5	36	suggests	suggest	VBZ
www-nber-org-9813	5	37	that	that	IN
www-nber-org-9813	5	38	there	there	EX
www-nber-org-9813	5	39	are	be	VBP
www-nber-org-9813	5	40	intrinsic	intrinsic	JJ
www-nber-org-9813	5	41	economic	economic	JJ
www-nber-org-9813	5	42	limits	limit	NNS
www-nber-org-9813	5	43	to	to	IN
www-nber-org-9813	5	44	how	how	WRB
www-nber-org-9813	5	45	economically	economically	RB
www-nber-org-9813	5	46	important	important	JJ
www-nber-org-9813	5	47	it	-PRON-	PRP
www-nber-org-9813	5	48	can	can	MD
www-nber-org-9813	5	49	become	become	VB
www-nber-org-9813	5	50	in	in	IN
www-nber-org-9813	5	51	the	the	DT
www-nber-org-9813	5	52	first	first	JJ
www-nber-org-9813	5	53	place	place	NN
www-nber-org-9813	5	54	.	.	.
www-nber-org-9813	6	1	Acknowledgements	acknowledgement	NNS
www-nber-org-9813	6	2	and	and	CC
www-nber-org-9813	6	3	Disclosures	Disclosures	NNP
www-nber-org-9813	6	4	Project	Project	NNP
www-nber-org-9813	6	5	start	start	VB
www-nber-org-9813	6	6	date	date	NN
www-nber-org-9813	6	7	:	:	:
www-nber-org-9813	6	8	Feb	Feb	NNP
www-nber-org-9813	6	9	18	18	CD
www-nber-org-9813	6	10	,	,	,
www-nber-org-9813	6	11	2018	2018	CD
www-nber-org-9813	6	12	.	.	.
www-nber-org-9813	7	1	First	first	JJ
www-nber-org-9813	7	2	public	public	JJ
www-nber-org-9813	7	3	draft	draft	NN
www-nber-org-9813	7	4	:	:	:
www-nber-org-9813	7	5	May	May	NNP
www-nber-org-9813	7	6	3	3	CD
www-nber-org-9813	7	7	,	,	,
www-nber-org-9813	7	8	2018	2018	CD
www-nber-org-9813	7	9	.	.	.
www-nber-org-9813	8	1	For	for	IN
www-nber-org-9813	8	2	the	the	DT
www-nber-org-9813	8	3	record	record	NN
www-nber-org-9813	8	4	,	,	,
www-nber-org-9813	8	5	the	the	DT
www-nber-org-9813	8	6	first	first	JJ
www-nber-org-9813	8	7	large	large	JJ
www-nber-org-9813	8	8	-	-	HYPH
www-nber-org-9813	8	9	stakes	stake	NNS
www-nber-org-9813	8	10	majority	majority	NN
www-nber-org-9813	8	11	attack	attack	NN
www-nber-org-9813	8	12	of	of	IN
www-nber-org-9813	8	13	a	a	DT
www-nber-org-9813	8	14	well	well	RB
www-nber-org-9813	8	15	-	-	HYPH
www-nber-org-9813	8	16	known	know	VBN
www-nber-org-9813	8	17	cryptocurrency	cryptocurrency	NN
www-nber-org-9813	8	18	,	,	,
www-nber-org-9813	8	19	the	the	DT
www-nber-org-9813	8	20	$	$	$
www-nber-org-9813	8	21	18	18	CD
www-nber-org-9813	8	22	M	m	NN
www-nber-org-9813	8	23	attack	attack	NN
www-nber-org-9813	8	24	on	on	IN
www-nber-org-9813	8	25	Bitcoin	Bitcoin	NNP
www-nber-org-9813	8	26	Gold	Gold	NNP
www-nber-org-9813	8	27	,	,	,
www-nber-org-9813	8	28	occurred	occur	VBD
www-nber-org-9813	8	29	a	a	DT
www-nber-org-9813	8	30	few	few	JJ
www-nber-org-9813	8	31	weeks	week	NNS
www-nber-org-9813	8	32	later	later	RB
www-nber-org-9813	8	33	in	in	IN
www-nber-org-9813	8	34	mid	mid	NNP
www-nber-org-9813	8	35	-	-	NNP
www-nber-org-9813	8	36	May	May	NNP
www-nber-org-9813	8	37	2018	2018	CD
www-nber-org-9813	8	38	(	(	-LRB-
www-nber-org-9813	8	39	Wilmoth	Wilmoth	NNP
www-nber-org-9813	8	40	,	,	,
www-nber-org-9813	8	41	2018	2018	CD
www-nber-org-9813	8	42	;	;	:
www-nber-org-9813	8	43	Wong	Wong	NNP
www-nber-org-9813	8	44	,	,	,
www-nber-org-9813	8	45	2018	2018	CD
www-nber-org-9813	8	46	)	)	-RRB-
www-nber-org-9813	8	47	.	.	.
www-nber-org-9813	9	1	Acknowledgments	acknowledgment	NNS
www-nber-org-9813	9	2	:	:	:
www-nber-org-9813	9	3	Thanks	thank	NNS
www-nber-org-9813	9	4	are	be	VBP
www-nber-org-9813	9	5	due	due	JJ
www-nber-org-9813	9	6	to	to	IN
www-nber-org-9813	9	7	Susan	Susan	NNP
www-nber-org-9813	9	8	Athey	Athey	NNP
www-nber-org-9813	9	9	,	,	,
www-nber-org-9813	9	10	Vitalik	Vitalik	NNP
www-nber-org-9813	9	11	Buterin	Buterin	NNP
www-nber-org-9813	9	12	,	,	,
www-nber-org-9813	9	13	Alex	Alex	NNP
www-nber-org-9813	9	14	Frankel	Frankel	NNP
www-nber-org-9813	9	15	,	,	,
www-nber-org-9813	9	16	Joshua	Joshua	NNP
www-nber-org-9813	9	17	Gans	Gans	NNPS
www-nber-org-9813	9	18	,	,	,
www-nber-org-9813	9	19	Austan	Austan	NNP
www-nber-org-9813	9	20	Goolsbee	Goolsbee	NNP
www-nber-org-9813	9	21	,	,	,
www-nber-org-9813	9	22	Zhiguo	Zhiguo	NNP
www-nber-org-9813	9	23	He	He	NNP
www-nber-org-9813	9	24	,	,	,
www-nber-org-9813	9	25	Joi	Joi	NNP
www-nber-org-9813	9	26	Ito	Ito	NNP
www-nber-org-9813	9	27	,	,	,
www-nber-org-9813	9	28	Steve	Steve	NNP
www-nber-org-9813	9	29	Kaplan	Kaplan	NNP
www-nber-org-9813	9	30	,	,	,
www-nber-org-9813	9	31	Anil	Anil	NNP
www-nber-org-9813	9	32	Kashyap	Kashyap	NNP
www-nber-org-9813	9	33	,	,	,
www-nber-org-9813	9	34	Judd	Judd	NNP
www-nber-org-9813	9	35	Kessler	Kessler	NNP
www-nber-org-9813	9	36	,	,	,
www-nber-org-9813	9	37	Randall	Randall	NNP
www-nber-org-9813	9	38	Kroszner	Kroszner	NNP
www-nber-org-9813	9	39	,	,	,
www-nber-org-9813	9	40	Robin	Robin	NNP
www-nber-org-9813	9	41	Lee	Lee	NNP
www-nber-org-9813	9	42	,	,	,
www-nber-org-9813	9	43	Jacob	Jacob	NNP
www-nber-org-9813	9	44	Leshno	Leshno	NNP
www-nber-org-9813	9	45	,	,	,
www-nber-org-9813	9	46	Neale	Neale	NNP
www-nber-org-9813	9	47	Mahoney	Mahoney	NNP
www-nber-org-9813	9	48	,	,	,
www-nber-org-9813	9	49	Sendhil	Sendhil	NNP
www-nber-org-9813	9	50	Mullainathan	Mullainathan	NNP
www-nber-org-9813	9	51	,	,	,
www-nber-org-9813	9	52	David	David	NNP
www-nber-org-9813	9	53	Parkes	Parkes	NNP
www-nber-org-9813	9	54	,	,	,
www-nber-org-9813	9	55	John	John	NNP
www-nber-org-9813	9	56	Shim	Shim	NNP
www-nber-org-9813	9	57	,	,	,
www-nber-org-9813	9	58	Scott	Scott	NNP
www-nber-org-9813	9	59	Stornetta	Stornetta	NNP
www-nber-org-9813	9	60	,	,	,
www-nber-org-9813	9	61	Aviv	Aviv	NNP
www-nber-org-9813	9	62	Zohar	Zohar	NNP
www-nber-org-9813	9	63	,	,	,
www-nber-org-9813	9	64	and	and	CC
www-nber-org-9813	9	65	seminar	seminar	NN
www-nber-org-9813	9	66	participants	participant	NNS
www-nber-org-9813	9	67	at	at	IN
www-nber-org-9813	9	68	Chicago	Chicago	NNP
www-nber-org-9813	9	69	Booth	Booth	NNP
www-nber-org-9813	9	70	and	and	CC
www-nber-org-9813	9	71	the	the	DT
www-nber-org-9813	9	72	MIT	MIT	NNP
www-nber-org-9813	9	73	Digital	Digital	NNP
www-nber-org-9813	9	74	Currency	Currency	NNP
www-nber-org-9813	9	75	Initiative	Initiative	NNP
www-nber-org-9813	9	76	.	.	.
www-nber-org-9813	10	1	Natalia	Natalia	NNP
www-nber-org-9813	10	2	Drozdoff	Drozdoff	NNP
www-nber-org-9813	10	3	and	and	CC
www-nber-org-9813	10	4	Matthew	Matthew	NNP
www-nber-org-9813	10	5	O'Keefe	O'Keefe	NNP
www-nber-org-9813	10	6	have	have	VBP
www-nber-org-9813	10	7	provided	provide	VBN
www-nber-org-9813	10	8	excellent	excellent	JJ
www-nber-org-9813	10	9	research	research	NN
www-nber-org-9813	10	10	assistance	assistance	NN
www-nber-org-9813	10	11	.	.	.
www-nber-org-9813	11	1	Disclosure	disclosure	NN
www-nber-org-9813	11	2	:	:	:
www-nber-org-9813	11	3	I	-PRON-	PRP
www-nber-org-9813	11	4	do	do	VBP
www-nber-org-9813	11	5	not	not	RB
www-nber-org-9813	11	6	have	have	VB
www-nber-org-9813	11	7	any	any	DT
www-nber-org-9813	11	8	financial	financial	JJ
www-nber-org-9813	11	9	interests	interest	NNS
www-nber-org-9813	11	10	in	in	IN
www-nber-org-9813	11	11	blockchain	blockchain	JJ
www-nber-org-9813	11	12	companies	company	NNS
www-nber-org-9813	11	13	or	or	CC
www-nber-org-9813	11	14	cryptocurrencies	cryptocurrencie	NNS
www-nber-org-9813	11	15	,	,	,
www-nber-org-9813	11	16	either	either	CC
www-nber-org-9813	11	17	long	long	JJ
www-nber-org-9813	11	18	or	or	CC
www-nber-org-9813	11	19	short	short	JJ
www-nber-org-9813	11	20	.	.	.
www-nber-org-9813	12	1	The	the	DT
www-nber-org-9813	12	2	views	view	NNS
www-nber-org-9813	12	3	expressed	express	VBD
www-nber-org-9813	12	4	herein	herein	NNP
www-nber-org-9813	12	5	are	be	VBP
www-nber-org-9813	12	6	those	those	DT
www-nber-org-9813	12	7	of	of	IN
www-nber-org-9813	12	8	the	the	DT
www-nber-org-9813	12	9	author	author	NN
www-nber-org-9813	12	10	and	and	CC
www-nber-org-9813	12	11	do	do	VBP
www-nber-org-9813	12	12	not	not	RB
www-nber-org-9813	12	13	necessarily	necessarily	RB
www-nber-org-9813	12	14	reflect	reflect	VB
www-nber-org-9813	12	15	the	the	DT
www-nber-org-9813	12	16	views	view	NNS
www-nber-org-9813	12	17	of	of	IN
www-nber-org-9813	12	18	the	the	DT
www-nber-org-9813	12	19	National	National	NNP
www-nber-org-9813	12	20	Bureau	Bureau	NNP
www-nber-org-9813	12	21	of	of	IN
www-nber-org-9813	12	22	Economic	Economic	NNP
www-nber-org-9813	12	23	Research	Research	NNP
www-nber-org-9813	12	24	.	.	.
www-nber-org-9813	13	1	Download	Download	NNP
www-nber-org-9813	13	2	Citation	Citation	NNP
www-nber-org-9813	13	3	MARC	MARC	NNP
www-nber-org-9813	13	4	RIS	RIS	NNP
www-nber-org-9813	13	5	BibTeΧ	BibTeΧ	NNP
www-nber-org-9813	13	6	Download	Download	NNP
www-nber-org-9813	13	7	Citation	Citation	NNP
www-nber-org-9813	13	8	Data	Data	NNP
www-nber-org-9813	13	9	Related	Related	NNP
www-nber-org-9813	13	10	Topics	Topics	NNPS
www-nber-org-9813	13	11	Other	Other	NNP
www-nber-org-9813	13	12	General	General	NNP
www-nber-org-9813	13	13	,	,	,
www-nber-org-9813	13	14	Teaching	Teaching	NNP
www-nber-org-9813	13	15	Microeconomics	Microeconomics	NNP
www-nber-org-9813	13	16	Market	Market	NNP
www-nber-org-9813	13	17	Structure	Structure	NNP
www-nber-org-9813	13	18	and	and	CC
www-nber-org-9813	13	19	Distribution	Distribution	NNP
www-nber-org-9813	13	20	General	General	NNP
www-nber-org-9813	13	21	Equilibrium	Equilibrium	NNP
www-nber-org-9813	13	22	Macroeconomics	Macroeconomics	NNP
www-nber-org-9813	13	23	Money	Money	NNP
www-nber-org-9813	13	24	and	and	CC
www-nber-org-9813	13	25	Interest	Interest	NNP
www-nber-org-9813	13	26	Rates	Rates	NNPS
www-nber-org-9813	13	27	Financial	Financial	NNP
www-nber-org-9813	13	28	Economics	Economics	NNP
www-nber-org-9813	13	29	Financial	Financial	NNP
www-nber-org-9813	13	30	Markets	Markets	NNPS
www-nber-org-9813	13	31	Portfolio	Portfolio	NNP
www-nber-org-9813	13	32	Selection	Selection	NNP
www-nber-org-9813	13	33	and	and	CC
www-nber-org-9813	13	34	Asset	Asset	NNP
www-nber-org-9813	13	35	Pricing	Pricing	NNP
www-nber-org-9813	13	36	Financial	Financial	NNP
www-nber-org-9813	13	37	Institutions	Institutions	NNPS
www-nber-org-9813	13	38	Behavioral	Behavioral	NNP
www-nber-org-9813	13	39	Finance	Finance	NNP
www-nber-org-9813	13	40	Industrial	Industrial	NNP
www-nber-org-9813	13	41	Organization	Organization	NNP
www-nber-org-9813	13	42	Industry	Industry	NNP
www-nber-org-9813	13	43	Studies	Studies	NNPS
www-nber-org-9813	13	44	Culture	Culture	NNP
www-nber-org-9813	13	45	Programs	Programs	NNP
www-nber-org-9813	13	46	Asset	Asset	NNP
www-nber-org-9813	13	47	Pricing	Pricing	NNP
www-nber-org-9813	13	48	Corporate	Corporate	NNP
www-nber-org-9813	13	49	Finance	Finance	NNP
www-nber-org-9813	13	50	Industrial	Industrial	NNP
www-nber-org-9813	13	51	Organization	Organization	NNP
www-nber-org-9813	13	52	Monetary	Monetary	NNP
www-nber-org-9813	13	53	Economics	Economics	NNP
www-nber-org-9813	13	54	Productivity	Productivity	NNP
www-nber-org-9813	13	55	,	,	,
www-nber-org-9813	13	56	Innovation	Innovation	NNP
www-nber-org-9813	13	57	,	,	,
www-nber-org-9813	13	58	and	and	CC
www-nber-org-9813	13	59	Entrepreneurship	Entrepreneurship	NNP
www-nber-org-9813	13	60	Working	Working	NNP
www-nber-org-9813	13	61	Groups	Groups	NNPS
www-nber-org-9813	13	62	Entrepreneurship	Entrepreneurship	NNP
www-nber-org-9813	13	63	Risks	risk	NNS
www-nber-org-9813	13	64	of	of	IN
www-nber-org-9813	13	65	Financial	Financial	NNP
www-nber-org-9813	13	66	Institutions	Institutions	NNP
www-nber-org-9813	13	67	Market	Market	NNP
www-nber-org-9813	13	68	Design	Design	NNP
www-nber-org-9813	13	69	Conferences	conference	NNS
www-nber-org-9813	13	70	SI	si	NN
www-nber-org-9813	13	71	2018	2018	CD
www-nber-org-9813	13	72	Monetary	Monetary	NNP
www-nber-org-9813	13	73	Economics	Economics	NNP
www-nber-org-9813	13	74	Mentioned	mention	VBN
www-nber-org-9813	13	75	in	in	IN
www-nber-org-9813	13	76	the	the	DT
www-nber-org-9813	13	77	News	News	NNP
www-nber-org-9813	13	78	Bitcoin	Bitcoin	NNP
www-nber-org-9813	13	79	too	too	RB
www-nber-org-9813	13	80	risky	risky	JJ
www-nber-org-9813	13	81	to	to	TO
www-nber-org-9813	13	82	go	go	VB
www-nber-org-9813	13	83	mainstream	mainstream	JJ
www-nber-org-9813	13	84	,	,	,
www-nber-org-9813	13	85	central	central	NNP
www-nber-org-9813	13	86	bank	bank	NN
www-nber-org-9813	13	87	overseer	overseer	NN
www-nber-org-9813	13	88	says	say	VBZ
www-nber-org-9813	13	89	June	June	NNP
www-nber-org-9813	13	90	18	18	CD
www-nber-org-9813	13	91	,	,	,
www-nber-org-9813	13	92	2018	2018	CD
www-nber-org-9813	13	93	Source	source	NN
www-nber-org-9813	13	94	:	:	:
www-nber-org-9813	13	95	The	the	DT
www-nber-org-9813	13	96	Star	Star	NNP
www-nber-org-9813	13	97	(	(	-LRB-
www-nber-org-9813	13	98	Toronto	Toronto	NNP
www-nber-org-9813	13	99	)	)	-RRB-
www-nber-org-9813	13	100	Read	read	VB
www-nber-org-9813	13	101	the	the	DT
www-nber-org-9813	13	102	research	research	NN
www-nber-org-9813	13	103	here	here	RB
www-nber-org-9813	13	104	.	.	.
www-nber-org-9813	14	1	More	More	JJR
www-nber-org-9813	14	2	from	from	IN
www-nber-org-9813	14	3	NBER	NBER	NNP
www-nber-org-9813	14	4	In	in	IN
www-nber-org-9813	14	5	addition	addition	NN
www-nber-org-9813	14	6	to	to	IN
www-nber-org-9813	14	7	working	working	NN
www-nber-org-9813	14	8	papers	paper	NNS
www-nber-org-9813	14	9	,	,	,
www-nber-org-9813	14	10	the	the	DT
www-nber-org-9813	14	11	NBER	NBER	NNP
www-nber-org-9813	14	12	disseminates	disseminate	VBZ
www-nber-org-9813	14	13	affiliates	affiliate	NNS
www-nber-org-9813	14	14	’	’	POS
www-nber-org-9813	14	15	latest	late	JJS
www-nber-org-9813	14	16	findings	finding	NNS
www-nber-org-9813	14	17	through	through	IN
www-nber-org-9813	14	18	a	a	DT
www-nber-org-9813	14	19	range	range	NN
www-nber-org-9813	14	20	of	of	IN
www-nber-org-9813	14	21	free	free	JJ
www-nber-org-9813	14	22	periodicals	periodical	NNS
www-nber-org-9813	14	23	—	—	:
www-nber-org-9813	14	24	the	the	DT
www-nber-org-9813	14	25	NBER	NBER	NNP
www-nber-org-9813	14	26	 	  	_SP
www-nber-org-9813	14	27	Reporter	reporter	NN
www-nber-org-9813	14	28	,	,	,
www-nber-org-9813	14	29	the	the	DT
www-nber-org-9813	14	30	NBER	NBER	NNP
www-nber-org-9813	14	31	Digest	Digest	NNP
www-nber-org-9813	14	32	,	,	,
www-nber-org-9813	14	33	the	the	DT
www-nber-org-9813	14	34	Bulletin	Bulletin	NNP
www-nber-org-9813	14	35	on	on	IN
www-nber-org-9813	14	36	Retirement	Retirement	NNP
www-nber-org-9813	14	37	and	and	CC
www-nber-org-9813	14	38	Disability	Disability	NNP
www-nber-org-9813	14	39	,	,	,
www-nber-org-9813	14	40	and	and	CC
www-nber-org-9813	14	41	the	the	DT
www-nber-org-9813	14	42	Bulletin	Bulletin	NNP
www-nber-org-9813	14	43	on	on	IN
www-nber-org-9813	14	44	Health	Health	NNP
www-nber-org-9813	14	45	—	—	:
www-nber-org-9813	14	46	as	as	RB
www-nber-org-9813	14	47	well	well	RB
www-nber-org-9813	14	48	as	as	IN
www-nber-org-9813	14	49	online	online	JJ
www-nber-org-9813	14	50	conference	conference	NN
www-nber-org-9813	14	51	reports	report	VBZ
www-nber-org-9813	14	52	,	,	,
www-nber-org-9813	14	53	video	video	NN
www-nber-org-9813	14	54	lectures	lecture	NNS
www-nber-org-9813	14	55	,	,	,
www-nber-org-9813	14	56	and	and	CC
www-nber-org-9813	14	57	interviews	interview	NNS
www-nber-org-9813	14	58	.	.	.
www-nber-org-9813	15	1	The	the	DT
www-nber-org-9813	15	2	Economics	Economics	NNP
www-nber-org-9813	15	3	of	of	IN
www-nber-org-9813	15	4	Digitization	Digitization	NNP
www-nber-org-9813	15	5	Article	Article	NNP
www-nber-org-9813	15	6	Author	author	NN
www-nber-org-9813	15	7	:	:	:
www-nber-org-9813	15	8	Shane	Shane	NNP
www-nber-org-9813	15	9	Greenstein	Greenstein	NNP
www-nber-org-9813	15	10	The	the	DT
www-nber-org-9813	15	11	NBER	NBER	NNP
www-nber-org-9813	15	12	Economics	Economics	NNP
www-nber-org-9813	15	13	of	of	IN
www-nber-org-9813	15	14	Digitization	Digitization	NNP
www-nber-org-9813	15	15	Project	Project	NNP
www-nber-org-9813	15	16	,	,	,
www-nber-org-9813	15	17	established	establish	VBN
www-nber-org-9813	15	18	in	in	IN
www-nber-org-9813	15	19	2010	2010	CD
www-nber-org-9813	15	20	with	with	IN
www-nber-org-9813	15	21	support	support	NN
www-nber-org-9813	15	22	from	from	IN
www-nber-org-9813	15	23	the	the	DT
www-nber-org-9813	15	24	Alfred	Alfred	NNP
www-nber-org-9813	15	25	P.	P.	NNP
www-nber-org-9813	15	26	Sloan	Sloan	NNP
www-nber-org-9813	15	27	Foundation	Foundation	NNP
www-nber-org-9813	15	28	,	,	,
www-nber-org-9813	15	29	provides	provide	VBZ
www-nber-org-9813	15	30	a	a	DT
www-nber-org-9813	15	31	forum	forum	NN
www-nber-org-9813	15	32	for	for	IN
www-nber-org-9813	15	33	disseminating	disseminate	VBG
www-nber-org-9813	15	34	research	research	NN
www-nber-org-9813	15	35	...	...	.
www-nber-org-9813	16	1	The	the	DT
www-nber-org-9813	16	2	2020	2020	CD
www-nber-org-9813	16	3	Martin	Martin	NNP
www-nber-org-9813	16	4	Feldstein	Feldstein	NNP
www-nber-org-9813	16	5	Lecture	lecture	NN
www-nber-org-9813	16	6	:	:	:
www-nber-org-9813	16	7	Journey	Journey	NNP
www-nber-org-9813	16	8	Across	Across	NNP
www-nber-org-9813	16	9	a	a	DT
www-nber-org-9813	16	10	Century	Century	NNP
www-nber-org-9813	16	11	of	of	IN
www-nber-org-9813	16	12	Women	Women	NNP
www-nber-org-9813	16	13	Lecture	Lecture	NNP
www-nber-org-9813	16	14	Claudia	Claudia	NNP
www-nber-org-9813	16	15	Goldin	Goldin	NNP
www-nber-org-9813	16	16	,	,	,
www-nber-org-9813	16	17	the	the	DT
www-nber-org-9813	16	18	Henry	Henry	NNP
www-nber-org-9813	16	19	Lee	Lee	NNP
www-nber-org-9813	16	20	Professor	Professor	NNP
www-nber-org-9813	16	21	of	of	IN
www-nber-org-9813	16	22	Economics	Economics	NNP
www-nber-org-9813	16	23	at	at	IN
www-nber-org-9813	16	24	Harvard	Harvard	NNP
www-nber-org-9813	16	25	University	University	NNP
www-nber-org-9813	16	26	and	and	CC
www-nber-org-9813	16	27	a	a	DT
www-nber-org-9813	16	28	past	past	JJ
www-nber-org-9813	16	29	president	president	NN
www-nber-org-9813	16	30	of	of	IN
www-nber-org-9813	16	31	the	the	DT
www-nber-org-9813	16	32	American	American	NNP
www-nber-org-9813	16	33	...	...	:
www-nber-org-9813	16	34	Summer	Summer	NNP
www-nber-org-9813	16	35	Institute	Institute	NNP
www-nber-org-9813	16	36	2020	2020	CD
www-nber-org-9813	16	37	Methods	Methods	NNP
www-nber-org-9813	16	38	Lectures	Lectures	NNPS
www-nber-org-9813	16	39	:	:	:
www-nber-org-9813	16	40	Differential	differential	VB
www-nber-org-9813	16	41	Privacy	privacy	NN
www-nber-org-9813	16	42	for	for	IN
www-nber-org-9813	16	43	Economists	economist	NNS
www-nber-org-9813	16	44	Lecture	Lecture	NNP
www-nber-org-9813	16	45	The	the	DT
www-nber-org-9813	16	46	extent	extent	NN
www-nber-org-9813	16	47	to	to	TO
www-nber-org-9813	16	48	which	which	WDT
www-nber-org-9813	16	49	individual	individual	JJ
www-nber-org-9813	16	50	responses	response	NNS
www-nber-org-9813	16	51	to	to	IN
www-nber-org-9813	16	52	household	household	NN
www-nber-org-9813	16	53	surveys	survey	NNS
www-nber-org-9813	16	54	are	be	VBP
www-nber-org-9813	16	55	protected	protect	VBN
www-nber-org-9813	16	56	from	from	IN
www-nber-org-9813	16	57	discovery	discovery	NN
www-nber-org-9813	16	58	by	by	IN
www-nber-org-9813	16	59	outside	outside	JJ
www-nber-org-9813	16	60	parties	party	NNS
www-nber-org-9813	16	61	depends	depend	VBZ
www-nber-org-9813	16	62	...	...	:
www-nber-org-9813	16	63	National	National	NNP
www-nber-org-9813	16	64	Bureau	Bureau	NNP
www-nber-org-9813	16	65	of	of	IN
www-nber-org-9813	16	66	Economic	Economic	NNP
www-nber-org-9813	16	67	Research	Research	NNP
www-nber-org-9813	16	68	Contact	Contact	NNP
www-nber-org-9813	16	69	Us	Us	NNP
www-nber-org-9813	16	70	1050	1050	CD
www-nber-org-9813	16	71	Massachusetts	Massachusetts	NNP
www-nber-org-9813	16	72	Ave	Ave	NNP
www-nber-org-9813	16	73	.	.	.
www-nber-org-9813	16	74	Cambridge	Cambridge	NNP
www-nber-org-9813	16	75	,	,	,
www-nber-org-9813	16	76	MA	MA	NNP
www-nber-org-9813	16	77	02138	02138	CD
www-nber-org-9813	16	78	617	617	CD
www-nber-org-9813	16	79	-	-	HYPH
www-nber-org-9813	16	80	868	868	CD
www-nber-org-9813	16	81	-	-	HYPH
www-nber-org-9813	16	82	3900	3900	CD
www-nber-org-9813	16	83	info@nber.org	info@nber.org	CC
www-nber-org-9813	16	84	Follow	Follow	NNP
www-nber-org-9813	16	85	Accessibility	Accessibility	NNP
www-nber-org-9813	16	86	:	:	:
www-nber-org-9813	16	87	If	if	IN
www-nber-org-9813	16	88	you	-PRON-	PRP
www-nber-org-9813	16	89	are	be	VBP
www-nber-org-9813	16	90	experiencing	experience	VBG
www-nber-org-9813	16	91	difficulty	difficulty	NN
www-nber-org-9813	16	92	with	with	IN
www-nber-org-9813	16	93	accessibility	accessibility	NN
www-nber-org-9813	16	94	or	or	CC
www-nber-org-9813	16	95	usability	usability	NN
www-nber-org-9813	16	96	,	,	,
www-nber-org-9813	16	97	or	or	CC
www-nber-org-9813	16	98	would	would	MD
www-nber-org-9813	16	99	like	like	VB
www-nber-org-9813	16	100	to	to	TO
www-nber-org-9813	16	101	report	report	VB
www-nber-org-9813	16	102	a	a	DT
www-nber-org-9813	16	103	barrier	barrier	NN
www-nber-org-9813	16	104	in	in	IN
www-nber-org-9813	16	105	accessing	access	VBG
www-nber-org-9813	16	106	our	-PRON-	PRP$
www-nber-org-9813	16	107	content	content	NN
www-nber-org-9813	16	108	,	,	,
www-nber-org-9813	16	109	contact	contact	NN
www-nber-org-9813	16	110	info@nber.org	info@nber.org	ADD
www-nber-org-9813	16	111	for	for	IN
www-nber-org-9813	16	112	help	help	NN
www-nber-org-9813	16	113	or	or	CC
www-nber-org-9813	16	114	more	more	JJR
www-nber-org-9813	16	115	information	information	NN
www-nber-org-9813	16	116	.	.	.
www-nber-org-9813	17	1	We	-PRON-	PRP
www-nber-org-9813	17	2	take	take	VBP
www-nber-org-9813	17	3	digital	digital	JJ
www-nber-org-9813	17	4	accessibility	accessibility	NN
www-nber-org-9813	17	5	seriously	seriously	RB
www-nber-org-9813	17	6	and	and	CC
www-nber-org-9813	17	7	welcome	welcome	VB
www-nber-org-9813	17	8	the	the	DT
www-nber-org-9813	17	9	opportunity	opportunity	NN
www-nber-org-9813	17	10	to	to	TO
www-nber-org-9813	17	11	improve	improve	VB
www-nber-org-9813	17	12	the	the	DT
www-nber-org-9813	17	13	reach	reach	NN
www-nber-org-9813	17	14	of	of	IN
www-nber-org-9813	17	15	our	-PRON-	PRP$
www-nber-org-9813	17	16	research	research	NN
www-nber-org-9813	17	17	.	.	.
www-nber-org-9813	18	1	Homepage	Homepage	NNP
www-nber-org-9813	18	2	Privacy	Privacy	NNP
www-nber-org-9813	18	3	Policy	Policy	NNP
www-nber-org-9813	18	4	©	©	NNP
www-nber-org-9813	18	5	2021	2021	CD
www-nber-org-9813	18	6	National	National	NNP
www-nber-org-9813	18	7	Bureau	Bureau	NNP
www-nber-org-9813	18	8	of	of	IN
www-nber-org-9813	18	9	Economic	Economic	NNP
www-nber-org-9813	18	10	Research	Research	NNP
www-nber-org-9813	18	11	.	.	.
www-nber-org-9813	19	1	All	all	DT
www-nber-org-9813	19	2	Rights	Rights	NNPS
www-nber-org-9813	19	3	Reserved	reserve	VBN
www-nber-org-9813	19	4	.	.	.