Impact versus Inclusion in the Economics Profession: Insights from the Papers and Proceedings

By Cynthia Bansak, Wendy Dunn, Ellen Meade, and Martha Starr

AEA Papers and Proceedings, May 2024

We examine trends in author representation, research topics, and impact of citations to articles in the American Economic Review and what was formerly its Papers and Proceedings (P&P). Over what we refer to as the P&P expansion ...

Marriage Penalties and Bonuses by Race and Ethnicity: An Application of Race and Ethnicity Imputation

By Rachel Costello, Portia DeFilippes, Robin Fisher, Ben Klemens, and Emily Y. Lin

AEA Papers and Proceedings, May 2024

The Office of Tax Analysis of the Treasury Department imputes race and ethnicity information to its tax model. We apply the imputed information to the calculation of marriage penalties and bonuses for married couples and find differences in the penalty an...

Negative Weights Are No Concern in Design-Based Specifications

By Kirill Borusyak and Peter Hull

AEA Papers and Proceedings, May 2024

Recent work shows that popular partially linear regression specifications can put negative weights on some treatment effects, potentially producing incorrectly signed estimands. We show that this is not an issue in design-based specifications, in which lo...

The Slanted-L Phillips Curve

By Pierpaolo Benigno and Gauti B. Eggertsson

AEA Papers and Proceedings, May 2024

A slanted-L curve is well suited to represent the nonlinearity of the celebrated Phillips curve. We show this using cross-country data of major industrialized economies since 2009, including the inflationary surge of the 2020s. At high unemployment rates,...

Tailoring Mentorship: Evidence on Diverse Needs and Application Patterns for High School Students

By Caterina Calsamiglia, Javier Garcia-Brazales, and Annalisa Loviglio

AEA Papers and Proceedings, May 2024

We investigate enrollment in a mentoring program aimed at promoting transition to tertiary education for high school students. Females exhibit both higher initial interest and application completion, while immigrants and financially constrained students i...

Digital Assets and the Exorbitant Dollar Privilege

By Marina Azzimonti and Vincenzo Quadrini

AEA Papers and Proceedings, May 2024

This paper analyzes how the rise of digital assets, particularly stablecoins, affects the US dollar's dominance in global financial markets. It discusses whether stablecoins, backed by US debt or other assets such as cryptocurrencies, could replace tradit...

Spillovers and Training Effects on Mental Health Prescribing for Children

By Janet Currie, W. Bentley MacLeod, and Mengsong Ouyang

AEA Papers and Proceedings, May 2024

We use data on all prescriptions filled at US retail pharmacies from 2006 to 2018 to examine deviations from best practice in prescribing psychiatric medications to children. The results demonstrate the importance of spillovers from other doctors in the s...

Change Behavior, Motivation Will Follow(?): Acquired Taste and Incentives

By Gretchen Chapman and Uri Gneezy

AEA Papers and Proceedings, May 2024

Whereas it is well established that changing motivation can affect behavior, we pose the opposite question: can changing behavior alter motivation? We examine three phenomena that provide an affirmative answer. Preference discovery occurs when a new behav...

The educational benefits of public libraries

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Do investments in public libraries boost student test scores?

CSWEP Board: Didem Tüzemen

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Nobel Lecture: An Evolving Economic Force

By Claudia Goldin

American Economic Review, June 2024

Front Matter

American Economic Review, June 2024

Welfare Comparisons for Biased Learning

By Mira Frick, Ryota Iijima, and Yuhta Ishii

American Economic Review, June 2024

We study robust welfare comparisons of learning biases (misspecified Bayesian and some forms of non-Bayesian updating). Given a true signal distribution, we deem one bias more harmful than another if it yields lower objective expected payoffs in all decis...

The Flight to Safety and International Risk Sharing

By Rohan Kekre and Moritz Lenel

American Economic Review, June 2024

We study a business cycle model of the international monetary system featuring a time varying demand for safe dollar bonds, greater risk-bearing capacity in the United States than the rest of the world, and nominal rigidities. A flight to safety generates...

Task-Based Discrimination

By Erik Hurst, Yona Rubinstein, and Kazuatsu Shimizu

American Economic Review, June 2024

We develop a task-based model of occupational sorting to identify and quantify the effect of discrimination, racial skill gaps, and aggregate task prices on Black-White differences in labor market outcomes over time. At the heart of our framework is the i...

Information Technology and Returns to Scale

By Danial Lashkari, Arthur Bauer, and Jocelyn Boussard

American Economic Review, June 2024

What are the implications of the dramatic fall in IT prices for aggregate technology? When firm-level technologies are continuously differentiable, a factor price shock leads to (i) a substitution between factors and/or (ii) an endogenous response of retu...

Breaking Gender Barriers: Experimental Evidence on Men in Pink-Collar Jobs

By Alexia Delfino

American Economic Review, June 2024

I investigate men's limited entry into female-dominated sectors through a large-scale field experiment. The design exogenously varies recruitment messages by showing photographs of current workers (male or female) and providing information on the share of...

Status Externalities in Education and Low Birth Rates in Korea

By Seongeun Kim, Michèle Tertilt, and Minchul Yum

American Economic Review, June 2024

South Koreans appear to be preoccupied with their offspring's education and also have the lowest total fertility rate in the world. We propose a novel theory with status externalities and endogenous fertility connecting these facts, motivated by novel emp...

Long-Run Effects of Incentivizing Work after Childbirth

By Elira Kuka and Na'ama Shenhav

American Economic Review, June 2024

This paper identifies the impact of increasing post-childbirth work incentives on mothers' long-run careers. We exploit variation in work incentives across mothers based on the timing of a first birth and eligibility for the 1993 expansion of the Earned I...

Financial Access and Labor Market Outcomes: Evidence from Credit Lotteries

By Bernardus Van Doornik, Armando Gomes, David Schoenherr, and Janis Skrastins

American Economic Review, June 2024

We assess the employment and income effects of access to credit dedicated to investment in individual mobility by exploiting time-series variation in access to credit through lotteries for participants in a group-lending mechanism in Brazil. We find that ...