Silent Partners: Corporate Ownership, Risk, and the Gender Asset Gap in Antebellum New England

By B. Zorina Khan

AEA Papers and Proceedings, May 2025

Little is known about corporate ownership, personal wealth, and the composition of investment portfolios by gender during early US industrialization. A sample of 42,500 shareholders in over 200 corporations highlights women's increasing contributions to c...

Gender Gaps in Entrepreneurship: Business Networks and Collaborations in Ghana

By Monica Lambon-Quayefio, Edward Asiedu, Francesca Truffa, and Ashley Wong

AEA Papers and Proceedings, May 2025

This study examines the characteristics of business networks and how they contribute to gender disparities in entrepreneurship. We conduct a survey on a sample of 1,487 young, highly educated male and female agribusiness owners in Ghana. We document that ...

The Inverted U-Shaped Relationship between Female Entrepreneurship and Economic Development

By Nava Ashraf, Alexia Delfino, Edward L. Glaeser, and Irene Solmone

AEA Papers and Proceedings, May 2025

In the World Bank Enterprise Survey, the share of entrepreneurs who are women first rises and then falls with national income, while female labor force participation has the opposite U-shaped pattern. We present a model in which gender-based disadvantages...

The Economic Impact of Discriminatory Policies: Insights from Same-Sex Marriage Bans

By Lei Gao, Steve Liu, and Ying Wang

AEA Papers and Proceedings, May 2025

This study examines the unintended economic costs, with significant fiscal implications, associated with discriminatory policies, focusing specifically on same-sex marriage bans in the United States. Drawing on a body of empirical studies, we show that th...

The End of an Impossible Choice: Removing Infertility as a Prerequisite for Legal Gender Recognition

By Ylva Moberg, Rinni Norlinder, J. Lucas Tilley, and Emma von Essen

AEA Papers and Proceedings, May 2025

Until 2013, transgender people in Sweden were required to undergo sterilization surgery and destroy stored reproductive cells before changing their legal gender marker, rendering them permanently infertile. Using population-wide administrative data, we do...

The Long-Run Impacts of Mentoring Underrepresented Minority Groups in Economics

By Francisca M. Antman, Sheng Qu, Bruce A. Weinberg, and Trevon D. Logan

AEA Papers and Proceedings, May 2025

We conduct a long-run evaluation of one of the oldest professional mentoring programs for underrepresented groups in economics, the American Economic Association Mentoring Program (AEAMP). The AEAMP was established to address the underrepresentation of ra...

Did Board Gender Quotas Break the Glass Ceiling in Europe?

By David A. Matsa and Amalia R. Miller

AEA Papers and Proceedings, May 2025

Nine European countries adopted gender quotas for companies' boards of directors between 2005 and 2021 before the European Parliament adopted an EU-wide quota in 2022. Using 25 years of data, we estimate the quotas' effects on female shares of corporate d...

Enabling Employment: How Do Employer Disability Practices Affect Disability Employment Outcomes?

By Lawrence Houston and Douglas Kruse

AEA Papers and Proceedings, May 2025

We use panel data from 235 firms from 2019–2023 to examine how disability-related practices affect disability employment outcomes, using a detailed annual survey of large US companies in the National Organization on Disability, which collectively employ...

Rigidities in Transportation and Supply Chain Disruptions

By Giulia Brancaccio, Myrto Kalouptsidi, and Theodore Papageorgiou

AEA Papers and Proceedings, May 2025

In this paper, we provide a simple and intuitive story for supply chain disruptions driven by the rigidities in the transportation sector. Focusing on maritime shipping, we argue that the frequent macroeconomic shocks that shape demand for transportation ...

Spatial Externalities, Inefficiency, and Sufficient Statistics

By Gabriel Kreindler and Kartik Patekar

AEA Papers and Proceedings, May 2025

How much economic inefficiency is generated by spatial externalities such as agglomeration or congestion? What can we learn with data and variation around an inefficient equilibrium? We express deadweight loss in an equilibrium model with spatial external...

Sea Level Rise and Urban Infrastructure

By Allan Hsiao

AEA Papers and Proceedings, May 2025

How exposed are cities to the threat of sea level rise? I quantify this exposure worldwide with a focus on urban infrastructure. I document three facts. First, Asian cities are highly exposed. Second, poorer cities and neighborhoods are less exposed. Thir...

Optimizing Electric Vehicle Infrastructure

By Costas Arkolakis, Kenneth T. Gillingham, and Seung-Yong Yoo

AEA Papers and Proceedings, May 2025

What are the welfare gains from upgrading electric vehicle infrastructure? This paper develops a model of electric vehicle charging location decisions incorporating the transportation network structure, allocation of travel, and the effect on electric veh...

Economic Sanctions and Intermediated Trade

By Maxim Chupilkin, Beata Javorcik, Aleksandra Peeva, and Alexander Plekhanov

AEA Papers and Proceedings, May 2025

Circumvention undermines economic sanction effectiveness, yet evidence on the precise mechanisms remains limited. This paper documents two strategies deployed to work around trade sanctions imposed on Russia in 2022: intermediated trade through Caucasus a...

Dodging Trade Sanctions? Evidence from Military Goods

By Lisa Scheckenhofer, Feodora A. Teti, and Joschka Wanner

AEA Papers and Proceedings, May 2025

The Russian invasion of Ukraine in 2022 led to unprecedented sanctions aimed at denying Russia access to critical technologies essential for sustaining its war efforts. This paper examines whether trade sanctions targeting military goods were undermined b...

Trade Sanctions against Russia: Stylized Facts

By Konstantin Egorov, Vasily Korovkin, Alexey Makarin, and Dzhamilya Nigmatulina

AEA Papers and Proceedings, May 2025

Using a novel comprehensive dataset on sanctions imposed on the exports to Russia after 2022, we document four stylized facts. First, these sanctions covered 33 percent of Russia's pre-2022 imports in value. Second, though most of the sanctions were conce...

Long-Run Consequences of Sanctions on Russia

By David Baqaee and Hannes Malmberg

AEA Papers and Proceedings, May 2025

We analyze the long-run economic consequences of Western sanctions on Russia. Using a new framework for balanced growth path analysis, we find that allowing for capital adjustment amplifies consumption loss due to sanctions, contrary to the intuition that...

The Political Economy of Geoeconomic Power

By Christopher Clayton, Matteo Maggiori, and Jesse Schreger

AEA Papers and Proceedings, May 2025

Great powers are increasingly using their economic and financial strength for geopolitical aims. This rise of "geoeconomics" has the potential to reshape the international trade and financial system. This paper examines the role of domestic political econ...

Hegemony and International Alignment

By Fernando Broner, Alberto Martin, Josefin Meyer, Christoph Trebesch, and Jiaxian Zhou Wu

AEA Papers and Proceedings, May 2025

This article explores the interplay between economic hegemony and political alignment. Using theoretical and empirical insights from Broner et al. (2024), we posit that hegemonic states, like the United States, foster political alignment, which enhances g...

Currency Development through Liquidity Provision

By Antonio Coppola, Arvind Krishnamurthy, and Chenzi Xu

AEA Papers and Proceedings, May 2025

Drawing on the experiences of the historical Eurodollar market and recent Chinese dollar bond issuances traded outside US jurisdiction at negative spreads to Treasuries, we examine the conditions under which a parallel offshore dollar financial system tha...

Changing Global Linkages: Bridging Geopolitical Fragments

By Gita Gopinath, Pierre-Olivier Gourinchas, Andrea F. Presbitero, and Petia Topalova

AEA Papers and Proceedings, May 2025

The recent surge in geopolitical tensions and trade restrictions raises important questions about the global allocation of production, investment, and trade across countries. Using bilateral sectoral data on FDI, trade, and trade distortive measures over ...