Attracting and Retaining Highly Effective Educators in Hard-to-Staff Schools

By Andrew Morgan, Minh Nguyen, Eric Hanushek, Ben Ost, and Steven Rivkin

American Economic Journal: Economic Policy

Attracting and retaining effective teachers in high-poverty schools remains a persistent challenge. We evaluate the impact of an initiative that offered substantial performance-based compensation to highly effective teachers in the lowest-achieving school...

Foreword

By Peter A. Diamond

American Economic Review, May 2003

Increasing Inventories: The Role of Delivery Times

By Maria-Jose Carreras-Valle

American Economic Journal: Macroeconomics

Inventories mitigate the risk of global sourcing. I present new evidence of the rise in U.S. manufacturing inventories after 2005, reversing a declining trend that lasted for decades. I examine this trend in a model of delivery times and inventories. T...

Diversion Risk, Markups, and the Financing Cost Advantage of Trade Credit

By Alvaro Garcia-Marin, Santiago Justel, and Tim Schmidt-Eisenlohr

American Economic Journal: Macroeconomics

Trade credit is a key source of short-term finance. This paper develops a model where trade credit reduces borrowing from banks. This reduction gives rise to a financing cost advantage of trade credit that increases in the product of markups and borrowi...

The Lost Marie Curies and Foregone Economic Growth

By Jean-Félix Brouillette

American Economic Journal: Macroeconomics

Women made up only 15% of U.S. inventors in 2024. Assuming no intrinsic gender differences in inventive potential, the scarcity of women in research reveals that the U.S. is missing out on some of its brightest minds. How costly is this talent misalloca...

Environmental Subsidies to Mitigate Net-Zero Transition Costs

By Eric Jondeau, Gregory Levieuge, Jean-Guillaume Sahuc, and Gauthier Vermandel

American Economic Journal: Macroeconomics

Imperfect competition within the pollution abatement equipment sector may hinder the Paris Agreement’s goals. We show that carbon tax–funded environmental subsidies can stimulate firm entry, enhance competition, and lower abatement costs for busine...

Labor Share, Markups, and Input-Output Linkages – Evidence from the U.S. National Accounts

By Benjamin Bridgman and Berthold Herrendorf

American Economic Journal: Macroeconomics

This paper investigates declining U.S. labor share by employing a multisector model that incorporates the input-output structure of the economy. Analyzing data from 1957 to 2016, we find that increasing markups account for the majority of the decline. I...

Cognitive Ability and Perceived Disagreement in Learning

By Piotr Evdokimov and Umberto Garfagnini

American Economic Journal: Microeconomics

Do agents believe they agree more with others over time? This paper explores how individuals perceive the belief updating behavior of others and the resulting disagreement in a sequential experiment with public information. We uncover a persistent gap i...

The Means of Prediction: How AI Really Works (and Who Benefits) by Maximilian Kasy

By David Autor

Journal of Economic Literature

Conservation Priorities and Environmental Offsets: Markets for Florida Wetlands

By Daniel Aronoff and Will Rafey

American Economic Review

We introduce an empirical framework for valuing markets in environmental offsets. Using newly-collected data on wetland conservation and offsets, we apply this framework to evaluate a set of decentralized markets in Florida, where land developers purch...

Globalization, Capital Taxation, and Development: Evidence from a Macro-Historical Database

By Pierre Bachas, Matthew Fisher-Post, Anders Jensen, and Gabriel Zucman

American Economic Journal: Applied Economics

This paper builds and analyzes a new global macro-historical database of effective tax rates on capital and labor in 154 countries. We establish a new stylized fact: while effective capital tax rates fell in developed countries between 1965 and 2018, th...

University as a Melting Pot: Long-term Effects of Internationalization

By Stanislav Avdeev

American Economic Journal: Applied Economics

This paper provides the first evidence on the impact of exposure to international students on the long-term outcomes of native students. I combine unique survey and administrative data from the Netherlands covering one million students across three dec...

Globalization and Its Challenges

By Stanley Fischer

American Economic Review, May 2003

Fiscal Transfers to Local Governments and the Distribution of Economic Activity

By Teemu Lyytikäinen, Sander Ramboer, and Max Toikka

American Economic Journal: Economic Policy

We study the economic effects of transfers to local governments using a reform of the Finnish municipal grant system as a source of exogenous variation. We find that higher grants lead to lower municipal taxes and fees, higher public spending and impro...

The Economics of Age at School Entry: Insights from Evidence and Methods

By Mariagrazia Cavallo, Elizabeth Dhuey, Luca Fumarco, Levi Halewyck, and Simon ter Meulen

Journal of Economic Literature

This article reviews the growing literature on age at school entry and its effects over the life course. Age at school entry affects a broad range of outcomes, including education, labor-market performance, health, social relationships, and family formati...

Leaning Against the Global Financial Cycle

By Andrea Ferrero, Maurizio Habib, Livio Stracca, and Fabrizio Venditti

American Economic Journal: Macroeconomics

We investigate the impact of institutional quality on shielding emerging economies from the Global Financial Cycle. Our findings indicate that countries with a higher rule of law, characterized by superior contract enforcement and more robust protectio...

Price Setting and Volatility: Evidence from Oil Price Volatility Shocks

By Matthew Klepacz

American Economic Journal: Macroeconomics

Do changes in aggregate volatility alter the impulse response of output to monetary policy? I use plausibly exogenous oil price volatility shocks and exploit heterogene- ity in oil usage across industries to show that PPI item level price changes become...

Macroeconomic Effects of ‘Free’ Secondary Schooling in the Developing World

By Junichi Fujimoto, David Lagakos, and Mitchell VanVuren

American Economic Journal: Macroeconomics

This paper studies the macroeconomic effects of free secondary schooling in the developing world. Our analysis is based on an OLG model of human capital accumulation that we estimate to match experimental evidence on the effects of secondary school schola...

Strapped for Cash: The Role of Financial Constraints for Innovating Firms, Misallocation and Aggregate Productivity Growth

By Esther Ann Bøler, Andreas Moxnes, and Karen Helene Ulltveit-Moe

American Economic Journal: Macroeconomics

We analyze the impact of reduced financial constraints on innovating firms' performance and access to credit using a reform that allowed firms to use patents as collateral. We develop a theoretical framework to guide the analysis and quantify the aggregat...

Electoral Campaign Attacks: Theory and Evidence

By Marcos Y. Nakaguma and Danilo Souza

American Economic Journal: Microeconomics

This paper studies the determinants of electoral campaign attacks. We first propose a model to examine the main factors that influence candidates’ decisions to attack. Our theoretical analysis yields a number of predictions which we test using informa...