Neal, Larry. The Forgotten Financiers of the Louisiana Purchase: European Bankers, the US, and the Rise of International Finance

By Farley Grubb

Journal of Economic Literature, June 2025

Palen, Marc-William. Pax Economica: Left-Wing Visions of a Free Trade World

By Saumitra Jha

Journal of Economic Literature, June 2025

Annotated Listing of New Books

Journal of Economic Literature, June 2025

JEL Classification System for Books

Journal of Economic Literature, June 2025

Copyright and Permissions

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A Measure of Behavioral Heterogeneity

By Jose Apesteguia and Miguel A. Ballester

American Economic Journal: Microeconomics

In this paper we propose a novel way to measure behavioral heterogeneity in a population of stochastic individuals. Our measure is choice-based; it evaluates the probability that, over a randomly selected menu, the sampled choices of two sampled indivi...

The Economics Profession

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How to Allocate Money?

By Piotr Dworczak

American Economic Journal: Microeconomics

I study a simple equity-efficiency problem: A designer allocates a fixed amount of money to a population of agents differing in privately observed marginal values for money. She can only screen by imposing an “ordeal,” that is, by allocating more mone...

Career Earnings

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Tackling gender inequality in the labor market

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How a UK transparency policy impacted the gender wage gap.

Disadvantaging Rivals: Vertical Integration in the Pharmaceutical Market

By Charles Gray, Abby Alpert, and Neeraj Sood

American Economic Journal: Applied Economics

The pharmaceutical market has experienced a wave of vertical integration between pharmacy benefit managers (PBMs) and insurers in recent years. Using a unique dataset on insurer-PBM contracts, we document increasing vertical integration in Medicare Part D...

Sweeping Up Gangs: The Effects of Tough-on-Crime Policies from a Network Approach

By Magdalena Domínguez

American Economic Journal: Economic Policy

Globally, gang proliferation is fought primarily through sweeps. This paper uses a difference-in-differences strategy to examine their causal impact on crime for arrested individuals and their peers. The analysis focuses on the Metropolitan Area of Bar...

Rising Concentration of Household Shopping, Superstar Firms, and Implications for Retail Markups

By Justin H. Leung and Zhonglin Li

American Economic Journal: Applied Economics

This paper documents an increase in concentration of household shopping in the US retail sector from 2004-2019. Despite a growing number of stores, households visit fewer stores, do more one-stop shopping, and increasingly shop at different retailers ...

You’re the One That I Want! Understanding the Over-Representation of Women in the Public Sector

By Pedro Gomes and Zoë Kuehn

American Economic Journal: Macroeconomics

The public sector hires disproportionally more women than men. Using microdata, we document gender differences in employment, transition probabilities, hours, and wages in the public and private sector. We calibrate a search and matching model where men a...

An Analytical Model of Behavior and Policy in an Epidemic

By Lukasz Rachel

American Economic Journal: Macroeconomics

This paper examines the behavior of individuals susceptible to a deadly disease in a tractable equilibrium setting. We analytically characterize individually optimal mitigation behavior and the resulting equilibrium trajectory. Analysis is facilitated by ...

Nonbinary and Transgender Identities and Earnings: Evidence from a National Census

By Christopher S. Carpenter, Donn Feir, Krishna Pendakur, and Casey Warman

American Economic Review: Insights

We provide the first evidence from a large population Census on earnings disparities experienced by nonbinary people—those who do not exclusively identify as men or women—and transgender people—those whose gender differs from their sex assigned a...

Rational Inattention during an RCT

By Bartosz Maćkowiak and Mirko Wiederholt

American Economic Review: Insights

We introduce an information provision experiment into a standard dynamic rational inattention model. We derive analytical results about how the treatment effect varies with characteristics of the environment and the individual. We use these results to d...

Exploiting or Augmenting Labor?

By Michael Rubens, Yingjie Wu, and Mingzhi (Jimmy) Xu

American Economic Review: Insights

We show that existing ‘production approaches’ to markdown estimation do not separately identify factor price markdowns from factor-augmenting productivity levels. We propose a method to overcome this challenge and apply it to study the effects of o...

Breadwinner’s Burden: The Effect of Financial Concerns on Sleeplessness

By Claire Duquennois and Maulik Jagnani

American Economic Review: Insights

Using a regression discontinuity design, we find that eligible household heads surveyed just after an unconditional cash transfer in Indonesia report a 0.4 standard deviation improvement in sleep quality compared to those surveyed just before, and they ...

Quality and Imperfect Competition

By Germain Gaudin

American Economic Journal: Microeconomics

We study quality distortions when firms hold market power. We develop a model allowing for flexible functional forms of demand in order to extend Spence (1975)’s monopoly analysis to imperfect competition. We show that quality distortions are determi...