Changing Business Cycles: The Role of Women's Employment

By Stefania Albanesi

American Economic Journal: Macroeconomics, October 2025

Women's labor force participation in the United States rose rapidly until the mid-1990s when it flattened out. I examine the impact of this change in trend on aggregate business cycles with a quantitative model that incorporates gender differences. I show...

Optimal Design of Market Access

By Takuro Yamashita and Shuguang Zhu

American Economic Journal: Microeconomics

We study a data provider’s problem of optimally designing and selling marketing lists that enable a retailer with private types to access consumers with heterogeneous characteristics. When virtual values satisfy a particular form of convexity (named bo...

Dynamic Preference “Reversals” and Time Inconsistency

By Philipp Strack and Dmitry Taubinsky

American Economic Journal: Microeconomics

We study whether it’s possible to identify time-inconsistent preferences in empirical designs where preferences are elicited in advance at time 0, and then again at time 1, after the agent receives additional information. For single-peaked preferences...

Information and the Formation of Inflation Expectations by Firms: Evidence from a Survey of Israeli Firms

By Yuriy Gorodnichenko, Ari Kutai, and Rafi Melnick

American Economic Journal: Macroeconomics

We analyze how firms form their inflation expectations after a regime change in monetary policy and a transition to a low-inflation environment. Utilizing the Bank of Israel’s survey of firms, we document the basic properties of firms’ inflation expec...

Work From Home and the Office Real Estate Apocalypse

By Arpit Gupta, Vrinda Mittal, and Stijn Van Nieuwerburgh

American Economic Review

We show remote work led to large drops in lease revenues, occupancy, and market rents in the commercial office sector. We revalue New York City office buildings taking into account both the cash flow and discount rate implications of these shocks, and f...

Screening Adaptive Cartels

By Juan Ortner, Sylvain Chassang, and Kei Kawai

American Economic Review: Insights

We propose an equilibrium theory of data-driven antitrust oversight in which regu- lators launch investigations on the basis of suspicious bidding patterns and cartels can adapt to the statistical screens used by regulators. Our main result establishes ...

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Health Sector Structural Change

By Nick Pretnar and Maria Feldman

American Economic Journal: Macroeconomics

The U.S. health-services sector has grown both in terms of its expenditure share and relative price. Using a two-sector general equilibrium model with monopolistic competition and endogenous population, we find that relative price growth is almost enti...

The Effects of Sin Taxes and Advertising Restrictions in a Dynamic Equilibrium

By Rossi Abi-Rafeh, Pierre Dubois, Rachel Griffith, and Martin O’Connell

American Economic Journal: Microeconomics

We develop a dynamic equilibrium model of firm competition to analyze the effects of counterfactual policies, such as taxes and advertising restrictions, on pricing, advertising, consumption, and welfare. Using micro-level data, we estimate how consume...

Exploiting Rivals’ Strengths

By Giacomo Calzolari and Vincenzo Denicolò

American Economic Journal: Microeconomics

We analyze oligopolistic competition in which firms use contracts contingent on what buyers purchase from their rivals. We present a new mechanism through which a dominant firm, by using these contracts, can gain more from exploiting its rivals than fr...

Higher-Order Beliefs and (Mis)learning from Prices

By Kevin He and Jonathan Libgober

American Economic Journal: Microeconomics

We study misperceptions of private-signal correlation in an incomplete-information Cournot duopoly game. Exaggerating the correlation between players’ demand signals is beneficial when agents hold flexible beliefs about price elasticity, but harmful w...

Monotonicity among Judges: Evidence from Judicial Panels and Consequences for Judge IV Designs

By Henrik Sigstad

American Economic Review

Judge IV designs rely on monotonicity—each judge being weakly stricter than more lenient judges in all cases. I measure monotonicity in judicial panels in five different settings and find that it is violated in up to fifty percent of non-unanimous ca...

Intimate Partner Violence in Low- and Middle-Income Countries: Insights from Economic Research

By Manisha Shah and Lydia Barski

Journal of Economic Literature

Intimate partner violence (IPV) is a pervasive global issue, with approximately one in three women experiencing IPV over their lifetime. IPV prevalence is higher in low- and middle-income countries (LMICs), and costs of IPV are also considerably larger as...

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Front Matter

American Economic Journal: Microeconomics, November 2025

Does Public Competition Crowd Out Private Investment? Evidence from Municipal Provision of Internet Access

By Kyle Wilson

American Economic Journal: Microeconomics, November 2025

Government infrastructure investment may crowd out investment from private firms or induce them to invest preemptively. The tension between these effects underlies the policy debate over municipal provision of internet access. I estimate demand for broadb...