Consumer Credit and the Incidence of Tariffs: Evidence from the Auto Industry

By Kristine W. Hankins, Morteza Momeni, and David Sovich

American Economic Review, February 2026

Captive finance subsidiaries create a channel for trade policy to affect consumer credit. Examining the impact of the Trump administration's metal tariffs on captive automobile lenders, we find that consumers received higher interest rates from captive le...

Work from Home and the Office Real Estate Apocalypse

By Arpit Gupta, Vrinda Mittal, and Stijn Van Nieuwerburgh

American Economic Review, February 2026

We show remote work led to large drops in lease revenues, occupancy, and market rents in the commercial office sector. We revalue New York City office buildings, taking into account both the cash flow and discount rate implications of these shocks, and fi...

A Theory of Supply Function Choice and Aggregate Supply

By Joel P. Flynn, George Nikolakoudis, and Karthik A. Sastry

American Economic Review, February 2026

Modern theories of aggregate supply are built on the foundation that firms set prices and commit to producing whatever the market demands. We remove this strategic restriction and allow firms to choose supply functions, mappings that describe the prices c...

Gender Differences in Economics Seminars

By Pascaline Dupas, Amy Handlan, Alicia Sasser Modestino, Muriel Niederle, Mateo Seré, Haoyu Sheng, Justin Wolfers, and Seminar Dynamics Collective

American Economic Review, February 2026

We assess whether men and women are treated differently when presenting their economics research. We collected data across thousands of seminars, job market talks, and conference presentations, leveraging human judgment and audio-processing algorithms to ...

Competitive Bottlenecks and Platform Spillovers

By Tat-How Teh and Julian Wright

American Economic Journal: Microeconomics

We provide a general framework to analyze competition between oligopolistic platforms in competitive bottleneck settings, allowing for pricing and non-price design choices by platforms, and postparticipation buyer-seller decisions. We show that equilib...

Do Consumers React to Anticipated Income Changes? Evidence from the Alaska Permanent Fund

By Chang-Tai Hsieh

American Economic Review, March 2003

Identifying Tax Compliance from Variation in Tax Policy: Theory and Empirics

By Andrew Bibler, Laura Grigolon, Keith F. Teltser, and Mark J. Tremblay

American Economic Journal: Economic Policy

Governments increasingly use changes in tax rules to combat evasion. We develop a general approach to point-identify tax compliance along with supply and demand elasticities. Identification requires data on prices and quantities, variation in tax polic...

The Effect of Public Insurance Design on Pharmaceutical Prices: Evidence from Medicare Part D

By Katja Hofmann and Zong Huang

American Economic Journal: Economic Policy

Public programs that provide benefits through private markets contend with strategic firm behavior. We study this dynamic in Medicare Part D. The Affordable Care Act closed a coverage gap in Part D by mandating drug manufacturers cover 50% of branded dr...

Prime Locations

By Gabriel M. Ahlfeldt, Thilo N. H. Albers, and Kristian Behrens

American Economic Review: Insights

We develop a method for delineating prime locations—ultra-dense clusters of economic activity—within cities and apply it to comprehensive establishment data covering all US metropolitan areas. We further use big data to extend the analysis to a glo...

How Test Optional Policies in College Admissions Disproportionately Harm High Achieving Applicants from Disadvantaged Backgrounds

By Bruce Sacerdote, Douglas O. Staiger, and Michele Tine

American Economic Review: Insights

We analyze data from one elite institution and find that test score optional policies harm the likelihood of admission for high achieving applicants from disadvantaged backgrounds. Under test optional policies, these applicants submit test scores at to...

Recurring Auctions with Costly Entry: Theory and Evidence

By Shanglyu Deng and Qiyao Zhou

American Economic Journal: Microeconomics

Recurring auctions are ubiquitous for selling durable assets such as artwork and homes, with follow-up auctions held for unsold items. We investigate such auctions theoretically and empirically. Theoretical analysis demonstrates that recurring auctions ...

Efficiency Criteria, Income Taxation, and Heterogeneous Elasticities

By John Sturm Becko and André Sztutman

American Economic Review

A common interpretation of Pareto-efficient policies is that, for some cardinal utility representations of preferences, they maximize utilitarian welfare. We show in the context of income taxation that such cardinalizations are often extreme, requiring...

Labor Market Competition and the Assimilation of Immigrants

By Christoph Albert, Albrecht Glitz, and Joan Llull

American Economic Review

This paper shows that the wage assimilation of immigrants is the result of the intricate interplay between individual skill accumulation and dynamic labor market equilibrium effects. When immigrants and natives are imperfect substitutes, rising immigrant ...

"3rd of tha Month": Do Social Security Recipients Smooth Consumption Between Checks?

By Melvin Stephens Jr.

American Economic Review, March 2003

Effects of Parental Death on Labor Market Outcomes

By Mathias Fjællegaard Jensen and Ning Zhang

American Economic Review

We use Danish administrative data to examine the effects of parental death on labor market outcomes. Leveraging the timing of sudden, first parental deaths and a matched-control difference-in-differences strategy, we find that men's earnings decline by 2%...

Innovation and Competition on a Rugged Technological Landscape

By Steven Callander, Nicolas S. Lambert, and Niko Matouschek

American Economic Journal: Microeconomics

We propose a model of dynamic spatial competition over a rugged technological landscape where product quality is revealed only after market introduction. Firms enter sequentially, deciding whether and how to innovate—either beyond the frontier or within...

Targeted Advertising in Elections

By Maria Titova

American Economic Journal: Microeconomics

How does targeted advertising influence electoral outcomes? This paper presents a one-dimensional spatial model of voting in which a privately informed challenger persuades voters to support him over the status quo. I show that targeted advertising enable...

Degree-Weighted Social Learning

By Chen Cheng, Xiao Han, Xin Tong, Yusheng Wu, and Yiqing Xing

American Economic Journal: Microeconomics

We study social learning in which agents weight neighbors’ opinions differently based on their degrees, capturing situations in which agents place more trust in well-connected individuals or, conversely, discount their influence. We derive asymptotic...

The Lasting Effects of Working while in School: A Long-Term Follow-Up

By Mery Ferrando, Noemí Katzkowicz, Thomas Le Barbanchon, and Diego Ubfal

American Economic Review: Insights

This paper provides the first experimental evidence on the long-term effects of work-study programs, leveraging a randomized lottery design from a national program in Uruguay. Participation leads to a persistent 11 percent increase in formal labor earn...

Innovation through Inventor Mobility: Evidence from Non-Compete Agreements

By Kate Reinmuth and Emma Rockall

American Economic Journal: Applied Economics

Proponents of labor mobility restrictions argue that innovation incentives more than offset harm to workers. Yet the causal effect of such policies on innovation is an open empirical question. Leveraging plausibly exogenous state-level changes in the en...