Macroeconomic Implications of Uniform Pricing

By Diego Daruich and Julian Kozlowski

American Economic Journal: Macroeconomics, July 2023

We compile a new database of grocery prices in Argentina. We find uniform pricing both within and across regions—i.e., prices almost do not vary within the stores of a chain. In line with uniform pricing, prices in stores of chains operating in one regi...

The Macroeconomic Impact of Europe's Carbon Taxes

By Gilbert E. Metcalf and James H. Stock

American Economic Journal: Macroeconomics, July 2023

We estimate the macroeconomic impacts of carbon taxes on GDP and employment growth rates using 30 years of data on carbon taxation in various European countries. We find no evidence for a negative impact on employment or GDP growth but rather find a zero ...

The Intensive Margin in Trade: How Big and How Important?

By Ana M. Fernandes, Peter J. Klenow, Sergii Meleshchuk, Martha Denisse Pierola, and Andrés Rodríguez-Clare

American Economic Journal: Macroeconomics, July 2023

In benchmark trade models that feature a constant trade elasticity, bilateral exports vary entirely on the intensive margin (exports per firm) or entirely on the extensive margin (number of firms). Our empirical analysis documents that roughly one-half of...

The Causal Effects of Lockdown Policies on Health and Macroeconomic Outcomes

By Jonas E. Arias, Jesús Fernández-Villaverde, Juan F. Rubio-Ramírez, and Minchul Shin

American Economic Journal: Macroeconomics, July 2023

We assess the causal impact of pandemic-induced lockdowns on health and macroeconomic outcomes and measure the trade-off between containing the spread of a pandemic and economic activity. To do so, we estimate an epidemiological model with time-varying pa...

Call for Applications: CeMENT Mentoring Workshops for Junior Faculty

[News]

June 29, 2023

The application deadline is August 15, 2023.

Economic questions raised by Alzheimer's disease

[Research Highlight]

July 05, 2023

Corina Mommaerts discusses what economists can do to help policymakers address issues surrounding Alzheimer’s disease.

What Can Economics Say about Alzheimer's Disease?

By Amitabh Chandra, Courtney Coile, and Corina Mommaerts

Journal of Economic Literature, June 2023

Alzheimer's disease (AD) affects one in ten people aged 65 or older and is the most expensive disease in the United States. We describe the central economic questions raised by AD. Although there is overlap with the economics of aging and health, the de...

Nation building and racial animus

[Page]

What impact did racist narratives have on the reconciliation of the North and South after the US Civil War?

Call for Papers: Third Conference on the Interconnectedness of Financial Systems

[News]

July 17, 2023

The deadline for submissions is November 20, 2023.

Bonding with the boss

[Page]

How much does socializing at work contribute to the gender pay gap?

“Why is economics so rewarding to you?”

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Technical Change and Superstar Effects: Evidence from the Rollout of Television

By Felix Koenig

American Economic Review: Insights, June 2023

Technical change that extends market scale can generate winner-take-all dynamics, with large income growth among top earners. I test this "superstar model" in the entertainer labor market, where the historic rollout of television creates a natural experim...

Call for Participation: CSWEP's Mid-Career Peer-to-Peer Mentoring Program

[News]

July 25, 2023

The deadline to register is August 16, 2023.

AEA Policies, Resources, and Initiatives Referenced in the 2023 Climate Survey

[Page]

Front Matter

American Economic Journal: Microeconomics, August 2023

Information Spillover in Multi-good Adverse Selection

By Bingchao Huangfu and Heng Liu

American Economic Journal: Microeconomics, August 2023

This paper analyzes information spillover in a multi-good adverse selection model in which a privately informed seller trades two different goods in two different markets. Buyers learn the seller's information from both the market they participate in and ...

A Buyer Power Theory of Exclusive Dealing and Exclusionary Bundling

By Claire Chambolle and Hugo Molina

American Economic Journal: Microeconomics, August 2023

We develop a unified theory of exclusive dealing and exclusionary bundling. In a framework with two competing manufacturers that supply their product(s) through a monopolist retailer, we show that buyer power restores the profitability of such practices i...

Self-Reported Signaling

By Thomas Jungbauer and Michael Waldman

American Economic Journal: Microeconomics, August 2023

In many real-world settings, an action that affects the value of a product or service is self-reported rather than publicly observable. We investigate self-reporting when self-reports serve as a signal of sender productivity. In our model, a sender choose...

Disclosure in Markets for Ratings

By Ran Weksler and Boaz Zik

American Economic Journal: Microeconomics, August 2023

We study the implications of the disclosure regime of ratings on the level of information released to the public. Specifically, we compare mandatory and voluntary disclosure. We analyze a model where the potential issuers are initially endowed with homoge...

Competition for Attention and News Quality

By Heng Chen and Wing Suen

American Economic Journal: Microeconomics, August 2023

Over the past decades the number of news outlets has increased dramatically, but the quality of news products has declined. We propose a model to reconcile these facts where consumers' attention allocation decisions not only depend on but also affect news...