The Causal Effects of Lockdown Policies on Health and Macroeconomic Outcomes

By Jonas E. Arias, Jesús Fernández-Villaverde, Juan F. Rubio-Ramírez, and Minchul Shin

American Economic Journal: Macroeconomics, July 2023

We assess the causal impact of pandemic-induced lockdowns on health and macroeconomic outcomes and measure the trade-off between containing the spread of a pandemic and economic activity. To do so, we estimate an epidemiological model with time-varying pa...

The Intensive Margin in Trade: How Big and How Important?

By Ana M. Fernandes, Peter J. Klenow, Sergii Meleshchuk, Martha Denisse Pierola, and Andrés Rodríguez-Clare

American Economic Journal: Macroeconomics, July 2023

In benchmark trade models that feature a constant trade elasticity, bilateral exports vary entirely on the intensive margin (exports per firm) or entirely on the extensive margin (number of firms). Our empirical analysis documents that roughly one-half of...

Has the Information Channel of Monetary Policy Disappeared? Revisiting the Empirical Evidence

By Lukas Hoesch, Barbara Rossi, and Tatevik Sekhposyan

American Economic Journal: Macroeconomics, July 2023

Does the Federal Reserve have an "information advantage" in forecasting macroeconomic variables beyond what is known to private sector forecasters? And are market participants reacting only to monetary policy shocks or also to information on the future st...

JEL Classification System

Journal of Economic Literature, March 2006

Labor Market Responses to Unemployment Insurance: The Role of Heterogeneity

By Serdar Birinci and Kurt See

American Economic Journal: Macroeconomics, July 2023

We document considerable scope of heterogeneity within the unemployed, especially when they are divided along eligibility for and receipt of unemployment insurance (UI). We study the implications of this heterogeneity on UI's insurance-incentive trade-off...

Markets and Diversity

By Sherwin Rosen

American Economic Review, March 2002

Front Matter

American Economic Journal: Microeconomics, August 2023

Competition for Attention and News Quality

By Heng Chen and Wing Suen

American Economic Journal: Microeconomics, August 2023

Over the past decades the number of news outlets has increased dramatically, but the quality of news products has declined. We propose a model to reconcile these facts where consumers' attention allocation decisions not only depend on but also affect news...

Working for References

By Samuel Häfner and Curtis R. Taylor

American Economic Journal: Microeconomics, August 2023

We analyze the incentive and welfare consequences of job references in a large economy marked by moral hazard, limited liability, exogenous job separation, and structural unemployment. In the firm-optimal equilibrium, employers provide references whenever...

Self-Reported Signaling

By Thomas Jungbauer and Michael Waldman

American Economic Journal: Microeconomics, August 2023

In many real-world settings, an action that affects the value of a product or service is self-reported rather than publicly observable. We investigate self-reporting when self-reports serve as a signal of sender productivity. In our model, a sender choose...

Racial Integration as an Innovation: Empirical Evidence from Sports Leagues

By Brian L. Goff, Robert E. McCormick, and Robert D. Tollison

American Economic Review, March 2002

This paper treats racial integration as an innovation in economic process in which economic entities find it advantageous to utilize potentially more productive inputs previously unavailable due to law, custom, or managerial discretion. Data on the racial...

Information Spillover in Multi-good Adverse Selection

By Bingchao Huangfu and Heng Liu

American Economic Journal: Microeconomics, August 2023

This paper analyzes information spillover in a multi-good adverse selection model in which a privately informed seller trades two different goods in two different markets. Buyers learn the seller's information from both the market they participate in and ...

A Buyer Power Theory of Exclusive Dealing and Exclusionary Bundling

By Claire Chambolle and Hugo Molina

American Economic Journal: Microeconomics, August 2023

We develop a unified theory of exclusive dealing and exclusionary bundling. In a framework with two competing manufacturers that supply their product(s) through a monopolist retailer, we show that buyer power restores the profitability of such practices i...

Equilibrium Screening and Categorical Inequality

By Mogens Fosgerau, Rajiv Sethi, and Jörgen Weibull

American Economic Journal: Microeconomics, August 2023

We analyze equilibrium outcomes under costly screening of candidates from distinct categories. Candidates choose how much effort to invest in skill acquisition, and the screener decides how carefully to screen each candidate. Typically, there are multiple...

Judicial Mechanism Design

By Ron Siegel and Bruno Strulovici

American Economic Journal: Microeconomics, August 2023

This paper proposes a mechanism-design approach to study criminal justice systems. We derive properties of optimal mechanisms for two notions of welfare distinguished by their treatment of deterrence. These properties provide insights into the effects of ...

Influence Campaigns

By Evan Sadler

American Economic Journal: Microeconomics, August 2023

Firms and politicians, among others, invest heavily to influence people's opinions. Because peers influence one another, these efforts must account for social networks. Using a model of opinion dynamics with a non-degenerate steady state, I develop a new ...

The Dynamics of Property Rights in Modern Autocracies

By Dan Cao and Roger Lagunoff

American Economic Journal: Microeconomics, August 2023

We study a dynamic model of property appropriation in autocracies. To maintain the appearance of the rule of law, an autocrat reassigns property only when the reassignment is acceptable to all affected citizens. Nevertheless, the autocrat can appropriate ...

Similarity Nash Equilibria in Statistical Games

By Rossella Argenziano and Itzhak Gilboa

American Economic Journal: Microeconomics, August 2023

A statistical game is a game in which strategic interaction is mediated via a binary outcome y, coupled with a prediction problem where a characteristic x of the game may be used to predict its outcome y based on past values of (x, y). In Similarity Nash ...

Bargaining over Treatment Choice under Disagreement

By Nabil I. Al-Najjar and Robert J. Gary-Bobo

American Economic Journal: Microeconomics, August 2023

A group of experts with different prior beliefs must choose a treatment. A dataset is made public and leads to revisions of beliefs. We propose a model where the experts' disagreements are resolved through bargaining, using the Nash bargaining solution. E...

Bid Caps in Noisy Contests

By Qiang Fu, Zenan Wu, and Yuxuan Zhu

American Economic Journal: Microeconomics, August 2023

This paper studies optimal bid caps in a multiplayer noisy contest in which a higher bid does not guarantee a sure win. The bid cap can be either rigid or flexible. The former imposes outright bidding restrictions on players' bids, while the latter taxes ...