The Aggregate Costs of Uninsurable Business Risk

By Corina Boar, Denis Gorea, and Virgiliu Midrigan

American Economic Review

We use firm-level data to document that private businesses experience large fluctuations in their profit shares. These are due to large, fat-tailed and transitory changes in output that are not fully accompanied by changes in their inputs. We interpret ...

The Effect of High-Tech Clusters on the Productivity of Top Inventors: Comment

By Michael Wiebe

American Economic Review

Moretti (2021) reports a positive elasticity between technology cluster size and patenting, and uses an event study and instrumental variables regressions to justify a causal interpretation. The event study does not use the variation generated by inventor...

Taxation and Supplier Networks: Evidence from India

By Lucie Gadenne, Tushar K. Nandi, and Roland Rathelot

American Economic Journal: Applied Economics

This paper considers how tax policy affects supply chains in a developing economy. Using administrative panel data on firms and transactions between them, we document substantial segmentation of supply chains between firms paying Value-Added Taxes (VAT) a...

Economics of LGBTQ+ Individuals Virtual Seminar Series

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East–West preindustrial wage divergence

[Research Highlight]

April 21, 2026

The effects of land ownership on wages in Japan, 1600–1870

How Equality Created Poverty in Preindustrial Japan, 1600–1870

By Yuzuru Kumon

American Economic Journal: Applied Economics, April 2026

Despite well-developed economic institutions, premodern Japan, 1600–1868, had among the lowest real wages according to available estimates, around half those in preindustrial England. However, many Japanese peasants owned land, unlike their mostly landl...

Call for nominations for CSWEP’s Carolyn Shaw Bell Award

[News]

April 23, 2026

Nominations are due by September 20, 2026.

Call for nominations for CSWEP’s Elaine Bennett Research Prize

[News]

April 23, 2026

Nominations are due by September 20, 2026.

Carolyn Shaw Bell Award

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Elaine Bennett Research Prize

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Janet L. Yellen Award for Excellence in Public Service

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How valuable is access to the social safety net in early childhood?

[Research Highlight]

April 03, 2016

The effects of the Food Stamp Program rollout are still visible decades later

How do divorce laws affect the financial lives of married couples?

[Research Highlight]

April 12, 2016

How a revolution in divorce laws changed U.S. marriages

Can pathogen concentrations explain which countries developed sooner?

[Research Highlight]

April 12, 2016

A new unified growth model of the demographic transition

Are there "missing" cancer drugs?

[Research Highlight]

April 14, 2016

Long clinical trials may skew the research agenda for drug companies

Did the US housing boom obscure a massive manufacturing bust?

[Research Highlight]

June 17, 2016

The housing bubble might help solve a mystery about the declining job prospects of noncollege men

Do Chinese government inflation data hold up to scrutiny?

[Research Highlight]

July 12, 2016

Engel curves reveal a more complicated story about inflation and growth than official statistics

Can it be rational to overweight very unlikely events?

[Research Highlight]

July 20, 2016

Why this behavioral bias might actually be a canny evolutionary strategy

Is Google hurting quality online journalism?

[Research Highlight]

October 24, 2016

Newspapers and online aggregators have a tense relationship, but may be able to work together

How does the relentless churn of jobs in the modern economy affect happiness?

[Research Highlight]

December 08, 2016

Examining the paradox of "creative destruction"