Inclusive Teaching: Spotting Social Isolation in the Classroom

By Sule Alan, Michela Carlana, and Marinella Leone

American Economic Journal: Economic Policy

We evaluate an intervention aimed at addressing social isolation in classrooms. The treatment provides teachers with their students’ social networks and information on developmental risks associated with social exclusion. Using friendship data and in...

Cooking, Health, and Daily Exposure to Pollution Spikes

By Susanna B. Berkouwer and Joshua T. Dean

American Economic Journal: Economic Policy

Many routine daily activities—such as cooking and commuting—cause large recurring pollution spikes that may impact health without significantly affecting average exposure. We study pollution spikes by combining experimental variation in cooking tec...

A Guide to the Job Market for New Economics PhDs

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Watch A Guide to the Job Market for New Economics PhDs (2025)

The Theory of Financial Stability Meets Reality: A Unifying Framework for Bank Regulation and Accounting Discretion

By Nina Boyarchenko, Kinda Hachem, and Anya Kleymenova

Journal of Economic Literature

A large literature at the intersection of economics and finance offers prescriptions for regulating banks to increase financial stability. This literature abstracts from the discretion that accounting standards give banks over financial reporting, creatin...

Which Reference Groups Matter and How? A Relative Income Information Experiment with Administrative Data

By Xiaogeng Xu, Satu Metsälampi, Michael Kirchler, Kaisa Kotakorpi, Peter Hans Matthews, and Topi Miettinen

American Economic Journal: Applied Economics

Call for nominations for CSWEP’s Carolyn Shaw Bell Award

[News]

April 21, 2025

Nominations are due by September 19, 2025.

Call for nominations for CSWEP’s Elaine Bennett Research Prize

[News]

April 21, 2025

Nominations are due by September 19, 2025.

Tax breaks and the composition of religious markets

[Research Highlight]

September 19, 2025

The effect of tax exemptions on Brazil's religious and political landscape.

Long Wars

By Sandeep Baliga and Tomas Sjöström

American Economic Review: Insights

We study whether the Coase conjecture holds for bargaining during war. Two players, A and B, contest a divisible resource until one side collapses or agreement is reached. If player B is militarily strong then he insists on getting a large share. Howev...

Breaking Bad News

By Moritz Meyer-ter-Vehn and Simon Board

American Economic Review: Insights

We study how information disclosure shapes social learning about a potentially harmful product. Increased transparency helps early agents avoid harm, which may undermine learning by later agents. Despite this conflict of interest, we show that full tra...

Short- and Long-Term Effects of Universal Preschool: Evidence from the Arab Population in Israel

By Elad DeMalach and Analia Schlosser

American Economic Journal: Economic Policy

We estimate the causal impacts of universal preschool by leveraging a quasi-experimental design based on Israel’s implementation of free public preschool for children ages 3 and 4 beginning in September 1999. We focus on the Arab population, who were...

Optimal Taxation of Inflation

By Damien Capelle and Yang Liu

American Economic Journal: Macroeconomics

This paper analyzes the effectiveness of a tax on inflation policy (TIP), which would require firms to pay a tax proportional to the increase in their prices or wages, in stabilizing inflation. We show that TIP would effectively correct externalities i...

The Effect of Mergers on Innovation

By Kaustav Das, Tatiana Mayskaya, and Arina Nikandrova

American Economic Journal: Microeconomics

We study the effect of a merger on R&D activity in a dynamic model with uncertainty about the feasibility of innovation. The merger has three effects: it may reduce the number of follow-up innovations (cannibalization effect), increase the probability ...

Immigration, Innovation, and Growth

By Stephen J. Terry, Thomas Chaney, Konrad B. Burchardi, Lisa Tarquinio, and Tarek A. Hassan

American Economic Review

We propose a novel identification strategy to isolate exogenous immigration shocks across US counties, by interacting quasi-random variations in the composition of ancestry across counties with the contemporaneous inflow of migrants from different count...

The Welfare Economics of Reference Dependence

By Daniel Reck and Arthur Seibold

American Economic Journal: Applied Economics

We analyze welfare under reference-dependent preferences. We decompose the first-order welfare effects of reference-point and price changes into direct and behavioral effects. The sign of these effects depends on the form of reference-dependent payoffs;...

The Silver Empire: How Germany Created Its First Common Currency by Oliver Volckart

By William Roberds

Journal of Economic Literature

Front Matter

American Economic Journal: Applied Economics, October 2025

Taxes Today, Benefits Tomorrow

By Thomas Le Barbanchon

American Economic Journal: Applied Economics, October 2025

This paper tests whether partially unemployed workers value future preserved benefits when they bunch at the kink of the unemployment insurance benefit-withdrawal schedule. I extend the bunching formula of Saez (2010) to a dynamic setting that accounts fo...

Pulled In and Crowded Out: Heterogeneous Outcomes of Merit-Based School Choice

By Antonio Dalla-Zuanna, Kai Liu, and Kjell G. Salvanes

American Economic Journal: Applied Economics, October 2025

We analyze the effects of reforming the high school admission system from a residence based allocation to a merit-based allocation. The merit-based system generates oversubscribed schools, which favor high-GPA students at the expense of displacing low-GPA...

Labor Market Inequality and the Changing Life Cycle Profile of Male and Female Wages

By Richard Blundell, Hugo Lopez, and James P. Ziliak

American Economic Journal: Applied Economics, October 2025

We estimate the full distribution of life cycle wages for cohorts of men and women in the United States using a quantile selection model to account for systematic differences in employment by gender and education group. Although common within-group time e...