Labor Share, Markups, and Input-Output Linkages – Evidence from the U.S. National Accounts

By Benjamin Bridgman and Berthold Herrendorf

American Economic Journal: Macroeconomics

This paper investigates declining U.S. labor share by employing a multisector model that incorporates the input-output structure of the economy. Analyzing data from 1957 to 2016, we find that increasing markups account for the majority of the decline. I...

Breadwinner's Burden: The Effect of Financial Concerns on Sleeplessness

By Claire Duquennois and Maulik Jagnani

American Economic Review: Insights, March 2026

Using a regression discontinuity design, we find that eligible household heads surveyed just after an unconditional cash transfer in Indonesia report a 0.4 standard deviation improvement in sleep quality compared to those surveyed just before, and they pe...

Disemployment Effects of Unemployment Insurance: A Meta-analysis

By Jonathan P. Cohen and Peter Ganong

American Economic Review: Insights, March 2026

We systematically review studies of how unemployment benefits affect unemployment duration. Statistically significant findings are eight times more likely to be published. Correcting for publication bias cuts the average elasticity by a third. Meta-analys...

Rational Inattention during a Randomized Controlled Trial

By Bartosz Maćkowiak and Mirko Wiederholt

American Economic Review: Insights, March 2026

We introduce an information provision experiment into a standard dynamic rational inattention model. We derive analytical results about how the treatment effect varies with characteristics of the environment and the individual. We use these results to dis...

Exploiting or Augmenting Labor?

By Michael Rubens, Yingjie Wu, and Mingzhi (Jimmy) Xu

American Economic Review: Insights, March 2026

We show that existing "production approaches" to markdown estimation do not separately identify factor price markdowns from factor-augmenting productivity levels. We propose a method to overcome this challenge and apply it to study the effects of ownershi...

Nonbinary and Transgender Identities and Earnings: Evidence from a National Census

By Christopher S. Carpenter, Donn Feir, Krishna Pendakur, and Casey Warman

American Economic Review: Insights, March 2026

We provide the first evidence from a large population census on earnings disparities experienced by nonbinary people—individuals who do not exclusively identify as men or women—and transgender people—individuals whose gender differs from their sex a...

Minority Salience and Criminal Justice Decisions

By Kyra Hanemaaijer, Nadine Ketel, and Olivier Marie

American Economic Review: Insights, March 2026

Decision-makers can exhibit biases when they overemphasize particularly salient features under limited attention. We exploit a sudden salience shock involving individuals of Moroccan descent to examine biases within the Dutch criminal justice system. The ...

Substitution Bias and Fixed-Weight Price Indices in Time-Dependent Pricing Models

By Lawrence J. Christiano, Martin Eichenbaum, and Benjamin K. Johannsen

American Economic Review: Insights, March 2026

This paper compares measured inflation in true and fixed-weight price indices. We construct model-based inflation measures in time-dependent pricing models that are analogous to measures of inflation in the data—for example, the consumer price index. In...

On the Programmability and Uniformity of Digital Currencies

By Jonathan Chiu and Cyril Monnet

American Economic Review: Insights, March 2026

Central bankers argue that programmable digital currencies may compromise the uniformity or singleness of money. We explore this view in a stylized model where programmable money arises endogenously, and differently programmed monies have varying liquidit...

Front Matter

American Economic Review: Insights, March 2026

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How Do Central Banks Control Inflation? A Guide for the Perplexed

By Laura Castillo-Martinez and Ricardo Reis

Journal of Economic Literature, March 2026

Central banks have a primary goal of price stability. They pursue it using tools that include the interest they pay on reserves, the size and the composition of their balance sheet, and the dividends they distribute to the fiscal authority. We describe th...

Innovation-Driven Entrepreneurship

By Tristan L. Botelho, Daniel C. Fehder, and Yael V. Hochberg

Journal of Economic Literature, March 2026

Innovation-driven entrepreneurship (IDE) is viewed as a key driver of economic growth. This review provides a structured guide to the key themes of the growing literature on the economics of IDE, which differs substantially in its nature from other types ...

No Taxation without Administration: Bringing the State Back into the Public Finance of Developing Countries

By Anders D. Jensen and Jonathan L. Weigel

Journal of Economic Literature, March 2026

The empirical economics literature on taxation in developing countries has centered on the importance of third-party information for enforcement. Yet, while surely a long-run objective, leveraging such information remains out of reach in many developing c...

Doctor Decision-Making and Patient Outcomes

By Janet Currie, W. Bentley MacLeod, and Kate Musen

Journal of Economic Literature, March 2026

Doctors often treat similar patients differently, which affects health outcomes and medical spending. We assess the recent literature on doctor decision-making through the lens of a model that incorporates diagnostic and procedural skills, beliefs, incent...