Congratulations to David Card, Joshua Angrist, and Guido Imbens on being awarded the 2021 Nobel Prize in Economic Sciences

[News]

October 11, 2021

AEA President David Card lauded for contributions to labor economics alongside Joshua Angrist and Guido Imbens for their methodological contributions to the analysis of causal relationships.

Growth by proximity

[Research Highlight]

October 04, 2021

Enrico Moretti discusses the effect of high-tech hubs on innovation.

Call for Proposals: The Pacific Center for Asset Management at UCSD

[News]

October 13, 2021

Submit proposals by November 15, 2021.

The rise of advertising giants in the attention economy

[Research Highlight]

October 15, 2021

Is consolidation among marketing networks driving down online advertising sales?

From Mad Men to Maths Men: Concentration and Buyer Power in Online Advertising

By Francesco Decarolis and Gabriele Rovigatti

American Economic Review, October 2021

This paper analyzes the impact of intermediary concentration on the allocation of revenue in online platforms. We study sponsored search documenting how advertisers increasingly bid through a handful of specialized intermediaries. This enhances automated ...

Informational barriers to hiring

[Page]

Can teaching small businesses about labor laws boost employment?

2022 CSWEP Mid-Career & Junior Mentoring Breakfasts: Call for Mentors

[News]

October 21, 2021

CSWEP mentoring breakfasts for junior and mid-career economists will be held at the upcoming 2022 Virtual AEA/ASSA Meeting.

Quantifying the Supply Response of Private Schools to Public Policies

By Michael Dinerstein and Troy D. Smith

American Economic Review, October 2021

School policies that cause a large demand shift between public and private schooling may cause some private schools to enter or exit the market. We study how the policy effects differ under a fixed versus changing market structure in the context of a publ...

How public policy affects private schools

[Research Highlight]

October 07, 2021

Reforms in funding for New York City’s public schools had consequences for the private school sector.

CSMGEP Profiles: Nina Banks

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Front Matter

American Economic Review, November 2021

Bargaining under the Illusion of Transparency

By Kristóf Madarász

American Economic Review, November 2021

This paper studies bargaining with noncommon priors where the buyer projects and exaggerates the probability that her private information may leak to the seller. Letting the buyer name her price first, raises the seller's payoff above his payoff from post...

Incentive Constrained Risk Sharing, Segmentation, and Asset Pricing

By Bruno Biais, Johan Hombert, and Pierre-Olivier Weill

American Economic Review, November 2021

Incentive problems make securities' payoffs imperfectly pledgeable, limiting agents' ability to issue liabilities. We analyze the equilibrium consequences of such endogenous incompleteness in a dynamic exchange economy. Because markets are endogenously in...

Venting Out: Exports during a Domestic Slump

By Miguel Almunia, Pol Antràs, David Lopez-Rodriguez, and Eduardo Morales

American Economic Review, November 2021

We study the relationship between domestic-demand shocks and exports using data for Spanish manufacturing firms in 2002–2013. Exploiting plausibly exogenous geographical variation caused by the Great Recession, we find that firms whose domestic sales de...

The Causal Interpretation of Two-Stage Least Squares with Multiple Instrumental Variables

By Magne Mogstad, Alexander Torgovitsky, and Christopher R. Walters

American Economic Review, November 2021

Empirical researchers often combine multiple instrumental variables (IVs) for a single treatment using two-stage least squares (2SLS). When treatment effects are heterogeneous, a common justification for including multiple IVs is that the 2SLS estimand ...