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Quota Adjustment Process

By Taro Kumano and Morimitsu Kurino

American Economic Review

In designing priority-based matching problems such as school choice, the quota of each school is, to some extent, a design variable. We define an ex-post student-optimal stable matching (ESOSM) as a matching that is stable at some implementable quota ...

The Contribution of High-Skilled Immigrants to Innovation in the United States

By Shai Bernstein, Rebecca Diamond, Abhisit Jiranaphawiboon, Timothy McQuade, and Beatriz Pousada

American Economic Review

We characterize the contribution of immigrants to US innovation. Leveraging new data, we use age of SSN assignment to identify immigrant status. Immigrants represent 16 percent of inventors, but authored 23 percent of patents. Immigrant inventors contr...

Why Financial Literacy Is Essential for Fixing a Broken Personal Finance System: A Review of Fixed: Why Personal Finance Is Broken and How to Make It Work for Everyone by John Y. Campbell and Tarun Ramadorai

By Annamaria Lusardi

Journal of Economic Literature

This review assesses John Campbell and Tarun Ramadorai’s book entitled Fixed. Why Personal Finance is Broken and How to Make It Work for Everyone. The volume is an excellent discussion of the research on household finances around the world. Most importa...

The 40-Hour Work Week

By Eunseong Ma

American Economic Journal: Macroeconomics

This study examines the implications of the traditional 40-hour work week using an incomplete-markets model that incorporates both the extensive and intensive margins of labor supply, along with a wage penalty for working fewer hours than a specified t...