Persistent Political Engagement: Social Interactions and the Dynamics of Protest Movements

By Leonardo Bursztyn, Davide Cantoni, David Y. Yang, Noam Yuchtman, and Y. Jane Zhang

American Economic Review: Insights, June 2021

We study the causes of sustained participation in political movements. To identify the persistent effect of protest participation, we randomly indirectly incentivize Hong Kong university students into participation in an antiauthoritarian protest. To iden...

CTREE Conference 2011

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June 1-3, 2011, Palo Alto, CA

CTREE Conference 2012

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May 30 - June 1, 2012 Boston, MA

CTREE Conference 2013

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May 29 - 31, 2013 Chicago, IL

Front Matter

American Economic Journal: Macroeconomics, July 2021

Macro and Micro Dynamics of Productivity: From Devilish Details to Insights

By G. Jacob Blackwood, Lucia S. Foster, Cheryl A. Grim, John Haltiwanger, and Zoltan Wolf

American Economic Journal: Macroeconomics, July 2021

Firm-level, revenue-based productivity measures are ubiquitous in studies of firm dynamics and aggregate outcomes. One common measure is increasingly interpreted as reflecting "distortions" since in distortions' absence, equalization of marginal revenue p...

Trade in Commodities and Business Cycle Volatility

By David Kohn, Fernando Leibovici, and Håkon Tretvoll

American Economic Journal: Macroeconomics, July 2021

This paper studies the role of differences in the patterns of production and international trade on the business cycle volatility of emerging and developed economies. We study a multisector small open economy in which firms produce and trade commodities a...

Optimal Inflation Target in an Economy with Menu Costs and a Zero Lower Bound

By Andrés Blanco

American Economic Journal: Macroeconomics, July 2021

I study the optimal inflation target in a quantitative menu cost model with a zero lower bound on interest rates. I find that the optimal inflation target is 3.5 percent, which is higher than in models commonly used for monetary policy analysis. Key to th...

Comparative Advantage in Innovation and Production

By Mariano Somale

American Economic Journal: Macroeconomics, July 2021

This paper develops a dynamic model of innovation and international trade in which agents can direct their research efforts to specific goods in the economy. Trade affects the direction of innovation through its impact on the expected market size for an i...

Tight Money-Tight Credit: Coordination Failure in the Conduct of Monetary and Financial Policies

By Julio A. Carrillo, Enrique G. Mendoza, Victoria Nuguer, and Jessica Roldán-Peña

American Economic Journal: Macroeconomics, July 2021

Violations of Tinbergen's rule and strategic interaction undermine stabilization policies in a New Keynesian model with the Bernanke-Gertler accelerator. Welfare costs of risk shocks are large because of efficiency losses and income effects of costly moni...

Advertising, Innovation, and Economic Growth

By Laurent Cavenaile and Pau Roldan-Blanco

American Economic Journal: Macroeconomics, July 2021

This paper analyzes the implications of advertising for firm dynamics and economic growth through its interaction with R&D. We develop a model of endogenous growth with firm heterogeneity that incorporates advertising decisions and calibrate it to match s...

CTREE Conference 2018

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May 30 – June 1, 2018, San Antonio, TX

CTREE Conference 2015

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May 27 - 29, 2015, Minneapolis, MN

Front Matter

American Economic Review, July 2021

Unwatched Pollution: The Effect of Intermittent Monitoring on Air Quality

By Eric Yongchen Zou

American Economic Review, July 2021

Intermittent monitoring of environmental standards may induce strategic changes in polluting activities. This paper documents local strategic responses to a cyclical, once-every-six-day air quality monitoring schedule under the federal Clean Air Act. Usin...

The Economic Consequences of Bankruptcy Reform

By Tal Gross, Raymond Kluender, Feng Liu, Matthew J. Notowidigdo, and Jialan Wang

American Economic Review, July 2021

A more generous consumer bankruptcy system provides greater insurance against financial risks but may also raise the cost of credit. We study this trade-off using the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA), which increased t...

Notching R&D Investment with Corporate Income Tax Cuts in China

By Zhao Chen, Zhikuo Liu, Juan Carlos Suárez Serrato, and Daniel Yi Xu

American Economic Review, July 2021

We study a Chinese policy that awards substantial tax cuts to firms with R&D investment over a threshold or "notch." Quasi-experimental variation and administrative tax data show a significant increase in reported R&D that is partly driven by firms relabe...

Recruitment, Effort, and Retention Effects of Performance Contracts for Civil Servants: Experimental Evidence from Rwandan Primary Schools

By Clare Leaver, Owen Ozier, Pieter Serneels, and Andrew Zeitlin

American Economic Review, July 2021

This paper reports on a two-tiered experiment designed to separately identify the selection and effort margins of pay for performance (P4P). At the recruitment stage, teacher labor markets were randomly assigned to a "pay-for-percentile" or fixed-wage con...

Adverse and Advantageous Selection in the Laboratory

By S. Nageeb Ali, Maximilian Mihm, Lucas Siga, and Chloe Tergiman

American Economic Review, July 2021

We study two-player games where one-sided asymmetric information can lead to either adverse or advantageous selection. We contrast behavior in these games with settings where both players are uninformed. We find stark differences, suggesting that subjects...

Market Fragmentation

By Daniel Chen and Darrell Duffie

American Economic Review, July 2021

We model a simple market setting in which fragmentation of trade of the same asset across multiple exchanges improves allocative efficiency. Fragmentation reduces the inhibiting effect of price-impact avoidance on order submission. Although fragmentation ...