Strapped for Cash: The Role of Financial Constraints for Innovating Firms, Misallocation and Aggregate Productivity Growth

By Esther Ann Bøler, Andreas Moxnes, and Karen Helene Ulltveit-Moe

American Economic Journal: Macroeconomics

We analyze the impact of reduced financial constraints on innovating firms' performance and access to credit using a reform that allowed firms to use patents as collateral. We develop a theoretical framework to guide the analysis and quantify the aggregat...

Data and Code Availability Policy

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It is the policy of the American Economic Association to publish papers only if the data and code used in the analysis are clearly and precisely documented and access to the data and code is non-exclusive to the authors.

A short history of Asian immigration

[Research Highlight]

March 10, 2026

Hannah Postel discusses the evolution of Asian immigration to the United States.

AEA Conference on Teaching and Research in Economic Education (CTREE)

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AEA Distinguished Economic Education Award

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International Universities Included in the Top 200 of the Shanghai Academic Ranking of World Universities

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Universities Classified as R1 in the Carnegie Classification of Institutions of Higher Education®

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Reputation Effects with Endogenous Records

By Harry Pei

American Economic Journal: Microeconomics

I study how the ability to erase records affects patient players’ returns from building reputations. In my model, a patient seller interacts with a sequence of myopic consumers. The seller is either an honest type who always exerts effort and never er...

Style Guide

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Review these formatting and style guidelines for accepted manuscripts.

Random Utility with Unobservable Alternatives

By Haruki Kono, Kota Saito, and Alec Sandroni

American Economic Review

The random utility model (RUM), a cornerstone in economics, is typically studied under the assumption that choice frequencies of all alternatives are observable. In practice, however, some alternatives have unobservable choice frequencies and are commo...

Uncertainty and Change: Survey Evidence of Firms’ Subjective Beliefs

By Rüdiger Bachmann, Kai Carstensen, Stefan Lautenbacher, Manuel Menkhoff, and Martin Schneider

American Economic Review

This paper studies how managers plan under uncertainty. In a new panel survey of German manufacturing firms, we observe both forecasts of sales growth and a quantitative measure of subjective uncertainty. We show that subjective uncertainty reflects c...

Cool Cities: The Value of Urban Trees

By Lu Han, Stephan Heblich, Christopher Timmins, and Yanos Zylberberg

American Economic Review: Insights

As urban populations grow, more people face extreme heat, increasing demand for natural cooling. Urban trees offer various amenities, including cooling benefits, yet their economic value is hard to quantify. This paper estimates the implicit value of u...

Christopher Sims (1942–2026)

[News]

March 16, 2026

Economics profession saddened by loss of Nobel laureate and former AEA president.

Math Preparation for Graduate School

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What do you need to be ready for grad school?

Program Rankings

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How graduate programs stack up.

Graduate Degrees in Economics

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Which program is right for you?

Funding Opportunities for Graduate School

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Find fellowships and grants.

Understanding the Job Market

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What happens after grad school?

EconSpark: AEA Economics Discussion Forum

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Considerations for Prospective Graduate Students in Economics

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