Uncovering the Effects of the Zero Lower Bound with an Endogenous Financial Wedge

By Dan Cao, Wenlan Luo, and Guangyu Nie

American Economic Journal: Macroeconomics, January 2023

We study the effects of the zero lower bound (ZLB) on the severity of financial crises using an incomplete markets New Keynesian model with two occasionally binding constraints: a ZLB on the nominal interest rate and a borrowing constraint tied to an asse...

Assessing the Gains from E-Commerce

By Paul Dolfen, Liran Einav, Peter J. Klenow, Benjamin Klopack, Jonathan D. Levin, Larry Levin, and Wayne Best

American Economic Journal: Macroeconomics, January 2023

E-commerce represents a rapidly growing share of consumer spending in the United States. We use transactions-level data on credit and debit cards from Visa, Inc. between 2007 and 2017 to quantify the resulting consumer surplus. We estimate e-commerce reac...

Networks in Economics and Finance

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Hilton Riverside, Grand Salon A Sec 3 & 6 Chair: Lin Peng (CUNY-Baruch College) Authors: Matthew O. Jackson (Stanford University), Suraj Malladi (Cornell University) (presenting), David McAdams (Duke University), Syngjoo Choi (Seoul National University), Sanjeev Goyal (University of Cambridge) (presenting), Frederic Moisan (Emlyon Business School), Francesco D'Acunto (Georgetown University) (presenting), Alberto G. Rossi (Georgetown University), Michael Weber (University of Chicago), David Hirshleifer (University of Southern California), Lin Peng (CUNY-Baruch College and University of Cambridge) (presenting), Qiguang Wang (Hong Kong Baptist University) Discussants: Sudipta Sarangi (Virginia Tech), Ville Rantala (University of Miami), Harrison Hong (Columbia University), Liyan Yang (University of Toronto)

AEA/ AFA Joint Luncheon-Fee Event

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Hilton Riverside, Grand Ballroom B & C Chair: Susan Athey (Stanford University) Speaker: Gita Gopinath (Harvard University)

Big Data to Infer Beliefs, Information and Unobserved Costs

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Hilton Riverside, Grand Salon D Sec 19 & 22 Chair: Laura Veldkamp (Columbia University) Authors: Wenting Song (Bank of Canada) (presenting), Nana Addai (University of North Carolina-Greensboro) (presenting), Amanda Rae Heitz (FDIC and Tulane University) (presenting), Christopher Martin (Federal Deposit Insurance Corporation), Alexander Brenden Ufier (FDIC), Alistai Macaulay (University of Oxford) Discussants: Kristoffer P. Nimark (Cornell University), Galina Hale (University of California-Santa Cruz), Yiming Ma (Columbia University)

Bosses, Mentors, and Careers

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Hilton Riverside, Grand Salon D Sec 19 & 22 Chair: Kathryn Shaw (Stanford University) Authors: Jason Sandvik (Tulane University), Richard Saouma (Michigan State University), Nathan Seegert (University of Utah), Christopher Stanton (Harvard University) (presenting), Ingrid Haegele (Ludwig Maximilian University of Munich) (presenting), Alan Benson (University of Minnesota) (presenting), Danielle Li (Massachusetts Institute of Technology and NBER), Kelly Shue (Yale University), Benjamin Anderson (Colgate University), Wayne A. Grove (Le Moyne College) (presenting) Discussants: Wayne A. Grove (Le Moyne College), Alan Benson (University of Minnesota), Christopher Stanton (Harvard University), Ingrid Haegele (Ludwig Maximilian University of Munich)

China and U.S. In the International Monetary System

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Hilton Riverside, Grand Salon D Sec 19 & 22 Chair: Carmen M. Reinhart (Harvard University and World Bank) Authors: Amanda Dos Santos (Columbia University), Christopher Clayton (Yale University) (presenting), Matteo Maggiori (Stanford University), Jesse Schreger (Columbia University), Jason Choi (University of Wisconsin-Madison), Rishabh Kirpalani (University of Wisconsin-Madison), Diego Perez (New York University) (presenting), Zhiguo He (University of Chicago) (presenting), Yuehan Wang (Central University of Finance and Economics), Xiaoquan Zhu (University of International Business and Economics), Sebastian Horn (Kiel Institute), Carmen M. Reinhart (Harvard University and World Bank) (presenting), Christoph Trebesch (Kiel Institute), Brad Parks (College of William & Mary) Discussants: Ricardo Reis (London School of Economics), Kenneth Rogoff (Harvard University), Antonio Coppola (Stanford University), Wenxin Du (University of Chicago)

Impacts of Curriculum, College, and Vocational Training on Educational Outcomes

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Hilton Riverside, Grand Salon D Sec 19 & 22 Chair: Francisca Antman (University of Colorado Boulder) Authors: Jennifer Seager (George Washington University) (presenting), Sarah Baird (George Washington University), T.M. Asaduzzaman (World Bank), Shwetlena Sabarwal (World Bank), Amita Vyas (George Washington University), Xiaoxiao Li (Villanova University) (presenting), Sebastian Linde (Medical College of Wisconsin), Hajime Shimao (McGill University), Alina Malkova (Florida Institute of Technology) (presenting), Fulya Ersoy (Loyola Marymount University) (presenting), Graham Beattie (Loyola Marymount University) Discussants: Bryce Millet Steinberg (Brown University), Celeste K. Carruthers (University of Tennessee), Tisha Emerson (Baylor University), Laura Ahlstrom (Oklahoma State University)

Efficient and Effective Course Preparation

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Hilton Riverside, Grand Salon A Sec 3 & 6 Chair: Wendy Stock (Montana State University) Panelists: Martha L. Olney (University of California-Berkeley), Justin Wolfers (University of Michigan), Jennifer Imazeki (San Diego State University), Gregory Mankiw (Harvard University)

How Can Department Chairs Influence Diversity, Equity and Belonging in the Economics Profession?

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Hilton Riverside, Grand Ballroom D Chair: Donna K. Ginther (University of Kansas) Panelists: Donna Gilleskie (University of North Carolina-Chapel Hill), Trevon Logan (Ohio State University), Linda Hooks (Washington & Lee University), Joshua Rosenbloom (Iowa State University)

Economic Uses and Applications of AI and Big Data

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Hilton Riverside, Grand Salon D Sec 19 & 22 Chair: Laura Veldkamp (Columbia University) Authors: Roxana Mihet (Swiss Finance Institute & HEC Lausanne) (presenting), Mehmet Canayaz (Pennsylvania State University), Ilja Kantorovitch (Pompeu Fabra University), Lea Stern (University of Washington) (presenting), Victor Lyonnet (Ohio State University), Jillian Grennan (University of California-Berkeley) (presenting), Allison Luedtke (St. Olaf College) (presenting), Crolina Mattsson (Leiden Institute for Advanced Computer Science), Frank Takes (Leiden Institute for Advanced Computer Science), Ian Appel (University of Virginia) Discussants: Daniel Rock (University of Pennsylvania), Romana Nanda (Imperial College London), Jason Sandvik (Tulane University), Wenhao Li (University of Southern California)

Interventions to Close Gender Gaps: What Works and What Can Backfire

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Hilton Riverside, Grand Salon D Sec 19 & 22 Chair: Olga Shurchkov (Wellesley College) Authors: Belinda Archibong (Columbia University) (presenting), Francis Annan (George State University), Oyebola Okunogbe (World Bank), Ifeatu Oliobi (Columbia University), Stephanie Owen (Colby College) (presenting), Ursina Schaede (University of Zurich) (presenting), Ville Mankki (University of Turku), Mallory Avery (Monash University) (presenting) Discussants: Julia Seither (University of Rosario), Mary Kaltenberg (Pace University), Tatiana Mocanu (University of Illinois-Urbana-Champaign), Michaela Pagel (Columbia University)

Gender in the Economics Profession

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Hilton Riverside, Grand Salon D Sec 19 & 22 Chair: Kasey Buckles (University of Notre Dame) Authors: Danila Serra (Texas A&M University) (presenting), Melissa Gentry (Texas A&M University), Jonathan Meer (Texas A&M University), Marcus Biermann (Bielefeld University) (presenting), Haoyu Sheng (Brown University), Amy Handlan (Brown University) (presenting), Marieke Kleemans (University of Illinois-Urbana-Champaign) (presenting), Rebecca Thornton (University of Illinois-Urbana-Champaign) Discussants: Serena Canaan (Simon Fraser University), Alicia Modestino (Northeastern University), Joanna Lahey (Texas A&M University), Amanda Bayer (Swarthmore College)

AEA/CSWEP Panel on Sexual Harassment in the Economics Profession: Lessons Learned and the Way Forward

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Hilton Riverside, Grand Salon A Sec 3 & 6 Chair: Judy Chevalier (Yale University and former CSWEP Chair) Panelists: Christina Romer (AEA President and Chair of the Ethics Committee), Ben Bernanke (former AEA President and former Chair of the AEA Ethics Committee), Leto Copeley (AEA Ombudsperson), Audrey Anderson (Bass, Berry & Sims PLC and Title IX expert), Billy Williams (Senior Vice President for Ethics, Diversity, and Inclusion at American Geophysical Union)

New Evidence on the Surprise Surge in Inflation

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Hilton Riverside, Grand Ballroom D Chair: Lena Anayi (Bank of England) Authors: Jens Hilscher (University of California-Davis), Alon Raviv (Bar Ilan University), Ricardo Reis (London School of Economcs) (presenting), Olivier Coibion (University of Texas-Austin), Yuriy Gorodnichenko (University of California-Berkeley) (presenting), Michael Weber (University of Chicago), Philip Bunn (Bank of England), Lena Anayi (Bank of England) (presenting), Nicholas Bloom (Stanford University), Paul Mizen (University of Nottingham), Greg Thwaites (University of Nottingham), Rüdiger Bachmann (University of Notre Dame) (presenting), Benjamin Born (Frankfurt School of Finance and Management), Olga Goldfayn-Frank (Deutsche Bundesbank), Georgi Kocharkov (Deutsche Bundesbank), Ralph Luetticke (University College London), Bernardo Candia (University of California-Berkeley), Ivan Yotzov (Bank of England)

Determinants and Effectiveness of Police Enforcement Behavior

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Hilton Riverside, Commerce Chair: Matthew Ross (Northeastern University) Authors: Roman Rivera (Columbia University) (presenting), CarlyWill Sloan (United States Military Academy West Point) (presenting), Matthew Ross (Northeastern University), Chandon Adger (Texas A&M University), Sofia Amaral (Ifo Institute, Ludwig Maximilian University of Munich, and CESifo) (presenting), Gordon B. Dahl (University of California-San Diego), Victoria Endl-Geyer (Ludwig Maximilian University of Munich), Timo Hener (Aarhus University), Helmut Rainer (Ludwig Maximilian University of Munich), Jonathan Tebes (University of Notre Dame) (presenting), Jeffrey Fagan (Columbia University) Discussants: Benjamin Hansen (University of Oregon), Tom Kirchmaier (London School of Economics), John MacDonald (University of Pennsylvania), Emily Owens (University of California-Irvine)

Race and Family Background as Determinants of Educational Outcomes

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Hilton Riverside, Grand Salon D Sec 19 & 22 Chair: Francisca Antman (University of Colorado Boulder) Authors: Sarah Komisarow (Duke University) (presenting), Ezra Karger (Federal Reserve Bank of Chicago), Maria Zhu (Syracuse University) (presenting), Leah Lakdawala (Wake Forest University) (presenting), Prashant Bharadwaj (University of California-San Diego), Naomi Friedman-Sokuler (Bar Ilan University) (presenting), Moshe Justman (Ben Gurion University) Discussants: Briana Ballis (University of California-Merced), Carycruz Bueno (Wesleyan University), Rebecca Dizon-Ross (University of Chicago), Anita Mukherjee (University of Wisconsin-Madison)

The Economic Impact of Access to Reproductive Health Services

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Hilton Riverside, Commerce Chair: Martha Bailey (University of California-Los Angeles) Authors: Joanna Lahey (Texas A&M University) (presenting), Marianne Wanamaker (University of Tennessee), Kelly Jones (American University) (presenting), Mayra Pineda-Torres (Georgia Institute of Technology), Martha Bailey (University of California-Los Angeles) (presenting), Vanessa Lang (University of Michigan), Iris Vrioni (University of Michigan), Lea Bart (University of Michigan), Alexa Prettyman (University of California-Los Angeles), Daniel Eisenberg (University of California-Los Angeles), Paula Fomby (University of Michigan), Jennifer Barber (Indiana University), Vanessa Dalton (University of Michigan), Susan Athey (Stanford University) (presenting), Katy Bergstrom (Tulane University), Vitor Hadad (Stanford University), Julian C. Jamison (University of Exeter), Berk Özler (World Bank), Luca Parisotto (World Bank), Julius Dohbit Sama (University of Yaoundé I)

Economic Shocks, Crises and Their Consequences

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Hilton Riverside, Grand Ballroom D Chair: Carmen M. Reinhart (Harvard University and World Bank) Panelists: Kristin Forbes (Massachusetts Institute of Technology), Robert F. Owen (University of Nantes and University of Iowa), Kenneth Rogoff (Harvard University), Stephane Schmitt Grohe (Columbia University), Lawrence Summers (Harvard University)