Homeownership is widely stimulated by policy, yet its economic effects are poorly understood. We exploit quasi-random variation in homeownership generated by privatization decisions of municipally owned buildings and use granular data on demographics, inc...

www.aeaweb.org/articles?id=10.1257/aer.20171449

Intergenerational Mobility in American History: Accounting for Race and Measurement Error

By Zachary Ward

American Economic Review, December 2023

A large body of evidence finds that relative mobility in the US has declined over the past 150 years. However, long-run mobility estimates are usually based on White samples and therefore do not account for the limited opportunities available for nonwhite...

www.aeaweb.org/articles?id=10.1257/aer.20200292

Populist Leaders and the Economy

By Manuel Funke, Moritz Schularick, and Christoph Trebesch

American Economic Review, December 2023

Populism at the country level is at an all-time high, with more than 25 percent of nations currently governed by populists. How do economies perform under populist leaders? We build a new long-run cross-country database to study the macroeconomic history ...

www.aeaweb.org/articles?id=10.1257/aer.20202045

Taking It to the Limit: Effects of Increased Student Loan Availability on Attainment, Earnings, and Financial Well-Being

By Sandra E. Black, Jeffrey T. Denning, Lisa J. Dettling, Sarena Goodman, and Lesley J. Turner

American Economic Review, December 2023

Growing reliance on student loans and repayment difficulties have raised concerns of a student debt crisis in the United States, but little is known about the effects of student borrowing on human capital and long-run financial well-being. We use variatio...

www.aeaweb.org/articles?id=10.1257/aer.20210926

Happy Times: Measuring Happiness Using Response Times

By Shuo Liu and Nick Netzer

American Economic Review, December 2023

Surveys measuring happiness or preferences generate discrete ordinal data. Ordered response models, which are used to analyze such data, suffer from an identification problem. Their conclusions depend on distributional assumptions about a latent variable....

www.aeaweb.org/articles?id=10.1257/aer.20211051

The (Lack of) Anticipatory Effects of the Social Safety Net on Human Capital Investment

By Manasi Deshpande and Rebecca Dizon-Ross

American Economic Review, December 2023

How does the expectation that a child will receive government benefits in adulthood affect parental investments in the child's human capital? Most parents whose children receive Supplemental Security Income (SSI) benefits overestimate the likelihood that ...

www.aeaweb.org/articles?id=10.1257/aer.20230010

Who Benefits from State Corporate Tax Cuts? A Local Labor Market Approach with Heterogeneous Firms: Reply

By Juan Carlos Suárez Serrato and Owen Zidar

American Economic Review, December 2023

In Suárez Serrato and Zidar (2016), we estimate the incidence of state corporate taxes. Malgouyres, Mayer, and Mazet-Sonilhac (2023) highlight two errors, ignoring effects on firm composition and characterizing capital costs inconsistently. This reply co...

www.aeaweb.org/articles?id=10.1257/aer.20230208

Who Benefits from State Corporate Tax Cuts? A Local Labor Markets Approach with Heterogeneous Firms

By Juan Carlos Suárez Serrato and Owen Zidar

American Economic Review, September 2016

This paper estimates the incidence of state corporate taxes on the welfare of workers, landowners, and firm owners using variation in state corporate tax rates and apportionment rules. We develop a spatial equilibrium model with imperfectly mobile firms a...

www.aeaweb.org/articles?id=10.1257/aer.20141702

Who Benefits from State Corporate Tax Cuts? A Local Labor Markets Approach with Heterogeneous Firms: Comment

By Clément Malgouyres, Thierry Mayer, and Clément Mazet-Sonilhac

American Economic Review, August 2023

Suarez Serrato and Zidar (2016) identify state corporate tax incidence in a spatial equilibrium model with imperfectly mobile firms. Their identification argument rests on comparative statics omitting a channel implied by their model: the link between com...

www.aeaweb.org/articles?id=10.1257/aer.20201753