Intermediaries and Asset Prices

By Valentin Haddad and Tyler Muir

Journal of Economic Literature

Intermediary asset pricing posits that financial institutions play a central role in financial markets, and that their decisions shape asset prices beyond simply reflecting the preferences of the average household. This perspective helps make sense of key...

Statement from the American Economic Association

[News]

December 02, 2025

The AEA has imposed a lifetime ban on Lawrence H. Summers’ membership and participation in AEA activities.

What Is Economics?

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Understanding the discipline.

Subscriptions to American Economic Association Journals

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Subscribe to all nine AEA journals!

Subscriptions to American Economic Association Journals

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Subscribe to all nine AEA journals!

Targeted supply-side enforcement in the controlled substance market

[Research Highlight]

December 02, 2025

Adam Soliman discusses the effects of crackdowns on prescription opioids.

Disrupting Drug Markets: The Effects of Crackdowns on Rogue Opioid Suppliers

By Adam Soliman

American Economic Journal: Economic Policy, November 2025

This paper estimates the impact of doctor crackdowns on the quantity demanded of prescription opioids, across-market substitution, and across-product substitution. Exploiting plausibly exogenous variation in the timing and location of administrative actio...

Call for Proposals: Hong Kong Institute for Monetary and Financial Research - Open-bid Applied Research Programme

[News]

December 03, 2025

The submission deadline is February 23, 2026.

Call for Papers from Stanford Initiative for Financial Decision-Making

[News]

December 03, 2025

The submission deadline is January 31, 2026.

Signaling for Interviews in the Economics Job Market

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2025 AEA CSQIEP Economics PhD Student and Early Career Economist Mentoring Conference

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ASSA 2026 Event App

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Controlling Contagion: Epidemics and Institutions from the Black Death to Covid by Sheilagh Ogilvie

By Vellore Arthi

Journal of Economic Literature

ASSA 2024 Webcasts of Select Sessions

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ASSA 2025 Webcasts of Select Sessions

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Negative Control Falsification Tests for Instrumental Variable Designs

By Oren Danieli, Daniel Nevo, Itai Walk, Bar Weinstein, and Dan Zeltzer

American Economic Review

The validity of instrumental variable (IV) designs is typically tested using two types of falsification tests. We characterize these tests as conditional independence tests between negative control variables—proxies for unobserved variables posing a ...

Making Bricks from Straw: Resources and Productivity in Health Care

By Edward N. Okeke

American Economic Review

Why do health facilities in developing countries do so poorly? This paper examines the role of financial constraints. I describe an experiment in which we surprised health workers in randomly selected public health clinics in Nigeria with a N600,000 gra...

From Access to Achievement: The Primary School-Age Impacts of an At-Scale Preschool Construction Program in Highly Deprived Communities

By Marina Bassi, Bruno Besbas, Lelys Dinarte-Diaz, Saravana Ravindran, and Ana Reynoso

American Economic Journal: Applied Economics

We evaluate a large-scale public preschool construction program in deprived rural communities in Mozambique using a randomized control trial. The program increased preschool enrollment from 2% to 75%, improved primary school enrollment and progression, ...

Taxation and Entrepreneurship in the United States

By Hans A. Holter, Serhiy Stepanchuk, and Yicheng Wang

American Economic Journal: Macroeconomics

This paper studies the effects of income taxation on entrepreneurship, empirically and in a structural macro model with entrepreneurial choice. Combining state-level tax data with household and firm data we document that higher and more progressive ta...