Default and Interest Rate Shocks: Renegotiation Matters

By Juan Nicolini, Victor Almeida, Carlos Esquivel, and Timothy J. Kehoe

American Economic Review

We develop a sovereign default model with debt renegotiation in which interest-rate shocks affect default incentives through two mechanisms. Under the standard mechanism, higher interest rates tighten the government’s budget constraint. Under the ren...

Disruption in the Classroom: Experimental Evidence from Ecuador

By Pedro Carneiro, Yyannu Cruz-Aguayo, Francesca Salvati, and Norbert Schady

American Economic Journal: Applied Economics

We study how poorly-behaved children affect learning and other outcomes of their peers using data from a unique experiment in Ecuador. Within each school, students were randomly assigned to classrooms in every grade for seven consecutive grades, between k...

ASSA 2027 Participant Information

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ASSA 2027 KiddieCorp (Childcare)

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ASSA 2027 Job Market Information

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The Andrew Brimmer Undergraduate Essay Prize

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AEA Award for Outstanding Achievement in Diversity and Inclusion

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Supply Chain Resilience: Evidence from Indian Firms

By Gaurav Khanna, Nicolas Morales, and Nitya Pandalai-Nayar

American Economic Journal: Macroeconomics

We study features that supply-chains more resilient. Using new data on firm-to-firm transactions from an Indian state, we construct a firm-specific measure of upstream exposure to Covid-19 lockdowns based on pre-period purchases from affected suppliers. A...

Disentangling Sources of Variation in C-Section Rates

By Stefanie Fischer, Shuhei Kaneko, Heather Royer, and Corey White

American Economic Journal: Economic Policy

Cesarean section rates vary widely across U.S. counties, but whether this variation reflects patients’ medical risk, beliefs, and preferences or obstetric care environments, including clinicians’ practice styles and delivery facilities, remains uncl...

Intergenerational Child Mortality Impacts of Deworming: Experimental Evidence from Two Decades of the Kenya Life Panel Survey

By Michael Walker, Suleiman Asman, Sarah Baird, Lia Fernald, Joan Hamory, Alice Huang, Satoshi Koiso, Michael Kremer, Matthew N Krupoff, Michelle Layvant, Eric Ochieng, Pooja Suri, and Edward Miguel

American Economic Journal: Applied Economics

We assess impacts of a randomized deworming intervention in Kenya on the mortality of recipients’ children using 23-year longitudinal data on over 5,500 original participants and their offspring. The under-5 mortality rate fell by 23% (17 deaths per ...

Alphabetical List of US Graduate Programs in Economics

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When managers try to keep their best workers from moving into other departments

[Research Highlight]

August 25, 2026

Ingrid Haegele discusses the costs of talent hoarding.

Talent Hoarding in Organizations

By Ingrid Haegele

American Economic Review, August 2026

Most organizations rely on managers to identify talented workers. However, managers who are evaluated on team performance have an incentive to hoard workers. This study provides the first empirical evidence of talent hoarding using personnel records and s...

Luck Out or Outpay? Competing with a Public Option

By Teddy Mekonnen

American Economic Journal: Microeconomics

This paper analyzes the strategic interactions between a profit-maximizing monopolist and a free, capacity-constrained public option. By restricting its own supply, the monopolist intentionally congests the public option and induces rationing, which in...

Sovereign Debt, Default Risk, and the Liquidity of Government Bonds

By Gaston Chaumont

American Economic Journal: Macroeconomics

Secondary markets for sovereign bonds are illiquid because of trad- ing frictions. I build a framework with endogenous illiquidity to study its implications on credit spreads and default risk. The model integrates directed search in secondary markets i...

Outside Options and Worker Effort

By Alexander Ahammer, Matthias Fahn, and Flora Stiftinger

American Economic Journal: Applied Economics

We study how outside options affect workers’ incentives to exert effort. We exploit quasiexperimental variation from age- and experience-based cutoffs in Austria’s unemployment insurance (UI), and proxy effort with absenteeism. Extending potential U...

Dynamic Complementarity

By James Heckman, Haihan Tian, Zijian Zhang, and Jin Zhou

American Economic Journal: Applied Economics

Dynamic complementarity is the concept that past investments that lead to higher stocks of skill at one age promote the growth of skills from investment at that age. We define and provide evidence on dynamic complementarity using unique Chinese data fr...

Mission and Margin: A Practical Guide to University Finances by Daniel Diermeier and Brett C. Sweet

By John Y. Campbell

Journal of Economic Literature

The Impact of Affirmative Action Litigation On Police Killings of Civilians

By Robynn Cox, Jamein P. Cunningham, and Alberto Ortega

American Economic Journal: Applied Economics

Although research has shown that court-ordered hiring quotas increase the number of minority police officers in litigated cities, there has been little insight into how workforce diversity, or lack thereof, may impact police violence against civilians. ...

Validating Hospital Quality Indicators and the Causal Effect of Hospital Closures

By Amitabh Chandra, Maurice Dalton, and Douglas O. Staiger

American Economic Review

We evaluate the validity of commonly used hospital quality indicators using hospital closures that reallocate large numbers of patients to hospitals of different quality. Using over 20 years of Medicare claims for over 30 million patients admitted with...