Global Firms

By Andrew B. Bernard, J. Bradford Jensen, Stephen J. Redding, and Peter K. Schott

Journal of Economic Literature, June 2018

Research in international trade has changed dramatically over the last twenty years, as attention has shifted from countries and industries towards the firms actually engaged in international trade. The now-standard heterogeneous firm model posits mea...

Variation in Women's Success across PhD Programs in Economics

[Symposium: Women in Economics]

By Leah Boustan and Andrew Langan

Journal of Economic Perspectives, Winter 2019

We document wide and persistent variation in women's representation and success across graduate programs in economics. Using new data on early career outcomes for recent graduates, including first job placement, publications, and promotion, we rank (ano...

The Evolution of Cooperation: The Role of Costly Strategy Adjustments

By Julian Romero and Yaroslav Rosokha

American Economic Journal: Microeconomics, February 2019

We study the evolution of cooperation in the indefinitely repeated prisoner's dilemma when it is costly for players to adjust their strategy. Our experimental interface allows subjects to design a comprehensive strategy that then selects actions for the...

Within-Industry Specialization and Global Market Power

By Ahmad Lashkaripour

American Economic Journal: Microeconomics, February 2020

Export price levels exhibit tremendous cross-national and spatial variation, even within narrowly defined industries. Standard theories attribute this variation to within-industry quality specialization. This paper argues that a significant portion of the...

Learning, Career Paths, and the Distribution of Wages

By Santiago Caicedo, Robert E. Lucas Jr., and Esteban Rossi-Hansberg

American Economic Journal: Macroeconomics, January 2019

We develop a theory of career paths and earnings where agents organize in production hierarchies. Agents climb these hierarchies as they learn stochastically from others. Earnings grow as agents acquire knowledge and occupy positions with more subordinate...

International Transmission with Heterogeneous Sectors

By Keyu Jin and Nan Li

American Economic Journal: Macroeconomics, October 2018

This paper documents new facts about the behavior of capital- and labor-intensive goods over the business cycle and also identifies a mechanism that generates international investment comovement through shifting compositional changes of production and tra...

Front Matter

American Economic Review, December 2019

Mental Budgeting versus Relative Thinking

By Samuel Hirshman, Devin Pope, and Jihong Song

AEA Papers and Proceedings, May 2018

In many situations, mental budgeting and relative thinking predict results that are in opposing directions. We study a situation of this type and provide evidence for when the predictions of one model will dominate the other.

Front Matter

Journal of Economic Perspectives, Winter 2018

Front Matter

American Economic Review: Insights, September 2019

The US Gains from Trade: Valuation Using the Demand for Foreign Factor Services

[Symposium: Does the US Really Gain From Trade?]

By Arnaud Costinot and Andrés Rodríguez-Clare

Journal of Economic Perspectives, Spring 2018

About eight cents out of every dollar spent in the United States is spent on imports. What if, because of a wall or some other extreme policy intervention, imports were to remain on the other side of the US border? How much would US consumers be willing t...

The Long-Run Impacts of Specialized Programming for High-Achieving Students

By Sarah R. Cohodes

American Economic Journal: Economic Policy, February 2020

I evaluate long-run academic impacts of specialized programming for high-achieving students by analyzing Advanced Work Class (AWC), an accelerated curriculum delivered in dedicated classrooms for fourth through sixth graders in Boston Public Schools. Fuzz...

Augmenting Pre-Analysis Plans with Machine Learning

By Jens Ludwig, Sendhil Mullainathan, and Jann Spiess

AEA Papers and Proceedings, May 2019

Concerns about the dissemination of spurious results have led to calls for pre-analysis plans (PAPs) to avoid ex-post "p-hacking." But often the conceptual hypotheses being tested do not imply the level of specificity required for a PAP. In this paper we ...

Report of the Secretary

By Peter L. Rousseau

AEA Papers and Proceedings, May 2018

The Political Legacy of Entertainment TV

By Ruben Durante, Paolo Pinotti, and Andrea Tesei

American Economic Review, July 2019

We study the political impact of commercial television in Italy exploiting the staggered introduction of Berlusconi's private TV network, Mediaset, in the early 1980s. We find that individuals with early access to Mediaset all-entertainment content were m...

JEL Classification System

Journal of Economic Literature, September 2019

Front Matter

American Economic Journal: Applied Economics, July 2018

Bad Investments and Missed Opportunities? Postwar Capital Flows to Asia and Latin America

By Lee E. Ohanian, Paulina Restrepo-Echavarria, and Mark L. J. Wright

American Economic Review, December 2018

After World War II, international capital flowed into slow-growing Latin America rather than fast-growing Asia. This is surprising as, everything else equal, fast growth should imply high capital returns. This paper develops a capital flow accounting fram...

Aging, Output Per Capita, and Secular Stagnation

By Gauti B. Eggertsson, Manuel Lancastre, and Lawrence H. Summers

American Economic Review: Insights, December 2019

This paper re-examines the relationship between population aging and economic growth. We confirm previous research such as Cutler et al. (1990) and Acemoglu and Restrepo (2017) that show positive correlation between population aging and per capita output ...

Central Bank Communications and the General Public

By Andrew Haldane and Michael McMahon

AEA Papers and Proceedings, May 2018

Despite the recent revolution in central bank communication, it is unclear the general public have benefitted from these enhanced central bank communications. We first analyze the growth of communication and some reasons that the public may have missed th...