What is Newsworthy? Theory and Evidence

By Luis Armona, Matthew Gentzkow, Emir Kamenica, and Jesse M. Shapiro

American Economic Review: Insights

We introduce a model in which a benevolent news outlet decides whether to report the realization of a state to a consumer, who pays a cost to receive it. A simple statistical rule, called a proper scoring rule, describes when the outlet should be more ...

Increasing Degree Attainment among Low-Income Students: The Role of Intensive Advising and College Quality

By Andrew Barr and Benjamin Castleman

American Economic Review, November 2025

A college degree offers a pathway to economic mobility for low-income students. Using a multisite randomized controlled trial combined with administrative and survey data, we demonstrate that intensive advising during high school and college significantly...

Moonshot: Public R&D and Growth

By Shawn Kantor and Alexander Whalley

American Economic Review, September 2025

We estimate the long-term effect of public R&D on growth in manufacturing by analyzing new data from the Cold War–era space race. We develop a novel empirical strategy that leverages US-Soviet rivalry in space technology to isolate windfall R&D spending...

Are Building Codes an Effective Adaptation to Wind Risk? Evidence from Remotely Detected Blue Tarps

By David Wolf and Kenji Takeuchi

American Economic Journal: Economic Policy

Hurricanes cause significant wind and water damage, yet economic research primarily focuses on the latter due to data limitations. We overcome this problem by analyzing photographs taken after Hurricane Irma (2017) to locate blue-tarped homes. Using a r...

Tax and Occupancy of Business Properties: Evidence from UK Business Rate Reliefs

By Ben Lockwood, Martin Simmler, and Eddy H.F. Tam

American Economic Journal: Economic Policy

We study how UK property tax rates impact commercial vacancies and rents, using new data, and exploiting exogenous variations in two major property tax reliefs, small business relief and retail relief. We estimate that both reliefs are effective at ach...

Estimating the Economic Value of Zoning Reform

By Santosh Anagol, Fernando Ferreira, and Jonah Rexer

American Economic Journal: Economic Policy

We estimate the economic value of zoning reform in São Paulo, which altered maximum permitted construction along transportation corridors. Developers increased filings for multifamily construction in blocks affected by the reform, leading to more housi...

Childhood Health Shocks and the Intergenerational Transmission of Inequality

By Tine M. Eriksen, Amanda P. Gaulke, Jannet Svensson, Niels Skipper, and Peter R. Thingholm

American Economic Journal: Economic Policy

This paper documents a socioeconomic gradient in adult labor market penalties stemming from a single chronic and treatable childhood health shock in a country with universal access to healthcare. Using childhood onset Type 1 Diabetes, Danish administrat...

How Effective Are R&D Tax Incentives? Reconciling the Micro and Macro Evidence

By Silvia Appelt, Matěj Bajgar, Chiara Criscuolo, and Fernando Galindo-Rueda

American Economic Journal: Economic Policy

Recent firm-level studies find R&D tax incentives to be much more effective at stimulating firms’ R&D investment than aggregate analyses suggest. Based on a distributed analysis of official R&D survey and administrative tax relief microdata for 19 OE...

Distortions, Producer Dynamics, and Aggregate Productivity: A General Equilibrium Analysis

By Stephen Ayerst, Loren Brandt, and Diego Restuccia

American Economic Journal: Macroeconomics

In less developed economies the allocation of factor inputs to more productive farms is often hindered. To analyze how distortions affect farm dynamics and agricultural productivity, we develop a model of heterogeneous farms investing in productivity impr...

AI-Powered (Finance) Scholarship

By Robert Novy-Marx and Mihail Velikov

Journal of Economic Literature

This paper describes a process for generating academic papers using large language models (LLMs) and demonstrates this process’ efficacy by producing hundreds of complete papers on stock return predictability, a topic well-suited for our illustration. A...

Rainfall Inequality, Political Power, and Ethnic Conflict in Africa

By Andrea Guariso and Thorsten Rogall

American Economic Journal: Economic Policy

How are ethnic inequality and ethnic violence related? We empirically investigate this question using an innovative measure of resource inequality between ethnic groups, based on rainfall on ethnic homelands during the plant-growing season. Our main da...

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Abundance from Abroad: Migrant Income and Long-Run Economic Development

By Gaurav Khanna, Emir Murathanoglu, Caroline Theoharides, and Dean Yang

American Economic Review

We study how international migrant income prospects affect long-run development in origin areas. We leverage the 1997 Asian Financial Crisis exchange rate shocks in a shift-share identification strategy across Philippine provinces. Initial migrant inco...

Press

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Information about the AEA for the press/media

Market Power and Capital Constraints

By Milena Wittwer and Jason Allen

American Economic Review

We explore how traders’ equity capitalization influences asset prices in a framework that accounts for market power. In our model, traders with capital constraints engage in transactions in an imperfectly competitive market. We demonstrate that loose...

Similarity of Information and Collective Action

By Deepal Basak, Joyee Deb, and Aditya Kuvalekar

American Economic Review

We study a canonical collective action game with incomplete information. Individuals attempt to coordinate to achieve a shared goal, while also facing a temptation to free-ride. More similar information can help them coordinate, but it can also exacerb...

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Navigating the college choice process

[Research Highlight]

December 15, 2025

Intensive advising can substantially increase the likelihood of degree attainment for low-income students.

Common Workflow Options for Managing JOE Applications

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