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Local Projections

By Oscar Jorda and Alan M. Taylor

Journal of Economic Literature, March 2025

A central question in applied research is to estimate the effect of an exogenous intervention or shock on an outcome. The intervention can affect the outcome and controls on impact and over time. Moreover, there can be subsequent feedback between outcomes...

Deep Learning for Economists

By Melissa Dell

Journal of Economic Literature, March 2025

Deep learning provides powerful methods to impute structured information from large-scale, unstructured text and image datasets. For example, economists might wish to detect the presence of economic activity in satellite images, or to measure the topics o...

Cognitive Hubs and Spatial Redistribution

By Esteban Rossi-Hansberg, Pierre-Daniel Sarte, and Felipe Schwartzman

American Economic Journal: Macroeconomics

In the US, cognitive non-routine (CNR) occupations are disproportionately and increasingly represented in large cities. To study the allocation of workers across cities, we propose a quantitative spatial equilibrium model with multiple industries employ...