The Risk-Adjusted Carbon Price

By Ton S. van den Bremer and Frederick van der Ploeg

American Economic Review, September 2021

The social cost of carbon is the expected present value of damages from emitting one ton of carbon today. We use perturbation theory to derive an approximate tractable expression for this cost adjusted for climatic and economic risk. We allow for differen...

Mortgage Prepayment and Path-Dependent Effects of Monetary Policy

By David Berger, Konstantin Milbradt, Fabrice Tourre, and Joseph Vavra

American Economic Review, September 2021

How much ability does the Fed have to stimulate the economy by cutting interest rates? We argue that the presence of substantial debt in fixed-rate, prepayable mortgages means that the ability to stimulate the economy by cutting interest rates depends not...

Implementation by Vote-Buying Mechanisms

By Jon X. Eguia and Dimitrios Xefteris

American Economic Review, September 2021

Vote-buying mechanisms allow agents to express any level of support for their preferred alternative at an increasing cost. Focusing on large societies with wealth inequality, we prove that the family of binary social choice rules implemented by well-behav...

The Effects of Parental and Sibling Incarceration: Evidence from Ohio

By Samuel Norris, Matthew Pecenco, and Jeffrey Weaver

American Economic Review, September 2021

Every year, millions of Americans experience the incarceration of a family member. Using 30 years of administrative data from Ohio and exploiting differing incarceration propensities of randomly assigned judges, this paper provides the first quasi-experim...

Asymmetric Attention

By Alexandre N. Kohlhas and Ansgar Walther

American Economic Review, September 2021

We document that the expectations of households, firms, and professional forecasters in standard surveys simultaneously extrapolate from recent events and underreact to new information. Existing models of expectation formation, whether behavioral or ratio...

Justified Communication Equilibrium

By Daniel Clark and Drew Fudenberg

American Economic Review, September 2021

Justified communication equilibrium (JCE) is an equilibrium refinement for signaling games with cheap-talk communication. A strategy profile must be a JCE to be a stable outcome of nonequilibrium learning when receivers are initially trusting and senders ...

Tracking the "open science" movement

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Economics is rapidly transitioning toward new transparency norms.

AEA Member Announcements: ASSA 2022 to be all-virtual event

[News]

September 01, 2021

View AEA announcement from September 1, 2021.

New MOOC from the World Bank: “Data for Better Lives: A New Social Contract”

[News]

September 02, 2021

This six-week asynchronous MOOC will begin October 6, 2021.

The Long-Run Effects of School Racial Diversity on Political Identity

By Stephen B. Billings, Eric Chyn, and Kareem Haggag

American Economic Review: Insights, September 2021

How do early-life experiences shape political identity? We examine the end of race-based busing in Charlotte-Mecklenburg Schools, an event that led to large changes in school racial composition. Using administrative data, we compare party affiliation in a...

Shaping politics

[Research Highlight]

August 24, 2021

Being exposed to greater diversity in elementary and middle school affects party registration in adulthood.

Expanding Diversity in Undergraduate Classes with Advancements in (the) Teaching (of) Economics (EDUCATE) Workshop

[News]

October 01, 2020

View the member announcement from October 2, 2020.

AEA Member Announcements: New Standing Committee on Equity, Diversity, and Professional Conduct

[News]

May 22, 2018

View member announcements from May 24, 2018.

Economics of LGBTQ+ Individuals Virtual Seminar Series

[News]

April 14, 2020

CSQIEP has organized a virtual seminar series starting April 15, 2020.

Applications open for the AEA Summer Program

[News]

October 24, 2019

Learn more about this great training opportunity! Apply now.

AEA Member Announcements: AEA Initiatives for Diversity and Inclusion (September 17, 2020)

[News]

September 14, 2020

View member announcements from September 16, 2020.

Call for Nominations for the Carolyn Shaw Bell Award

[News]

July 28, 2021

Nominations are due September 15, 2021.

AEA Announcements: ASSA 2022 and job market

[News]

July 30, 2021

View AEA announcements from August 2, 2021.

Removing lead from auto racing

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How deadly are leaded gasoline emissions?

What Drives House Price Cycles? International Experience and Policy Issues

By John V. Duca, John Muellbauer, and Anthony Murphy

Journal of Economic Literature, September 2021

The role of real estate during the global financial and economic crisis has prompted efforts to better incorporate housing and financial channels into macro models, improve housing models, develop macroprudential tools, and reform the financial system. ...