Responses to Extreme Temperatures: Migrant Networks and International Migration from El Salvador

By Ana Maria Ibáñez, Juliana Quigua, Maria Jimena Romero, and Andrea Velásquez

American Economic Journal: Economic Policy, May 2026

We show that exposure to extreme temperatures significantly increases international migration from El Salvador, where nearly a quarter of the population lives in the United States. Extreme temperatures reduce corn yields, leading producers to decrease the...

World Cycles Revisited: Diverging Trends in Prices and Quantities

By Antoine Camous, Eric Monnet, and Damien Puy

American Economic Journal: Macroeconomics

We revisit evidence on world cycles using a new quarterly macrofinancial dataset covering a broad set of countries from 1950 to the COVID-19 crisis. By filling historical data gaps, we show that previous studies overstated the influence of global facto...

Liquidity Reallocation and Run Resolution

By Haelim Anderson, Kinda Hachem, and Simpson Zhang

American Economic Journal: Macroeconomics

We study efficient liquidity reallocation in a model of panic-based bank runs. We demonstrate that a competitive interbank market disciplines multiplicity in key equilibrium outcomes but cannot achieve the constrained efficient level of welfare when agg...

Demographics, Labor Market Power and the Spatial Equilibrium

By Nina Furbach

American Economic Journal: Macroeconomics

This paper studies how demographics affect labor market power, the urban wage premium and the spatial concentration of population. Using disaggregated administrative data from Germany, I find that the labor supply elasticity to the firm decreases with ...

Covenant-Driven Fire Sales

By Shohini Kundu

American Economic Journal: Macroeconomics

Covenants mitigate agency frictions but can trigger asset sales at fire sale prices. I demonstrate covenant-driven fire sales and trace their real effects. Following a large negative oil-price shock, collateralized loan obligations exposed to oil-and-ga...

The Democratic Marketplace: How a More Equal Economy Can Save Our Political Ideals by Lisa Herzog

By Julia Cagé

Journal of Economic Literature

EconLit at Conference Exhibitions

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Visit the EconLit/American Economic Association booth at upcoming conferences.

The lasting gains of universal preschool

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Evidence from Israel’s 1999 preschool law shows that disadvantaged communities can benefit from universal preschool education.

Journal of Economic Perspectives Editor Search — Request for Suggestions

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August 18, 2026

View the AEA Member Announcement from August 19, 2026.

2027 Candidates for Election

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Disentangling Exploration from Exploitation

By Alessandro Lizzeri, Eran Shmaya, and Leeat Yariv

American Economic Review

Starting from Robbins (1952), the literature on experimentation viamulti-armed bandits has wed exploration and exploitation. Nonetheless, in many applications, agents’ exploration and exploitation need not be intertwined: a policymaker may assess new ...

The Inflation Accelerator

By Andres Blanco, Corina Boar, Callum Jones, and Virgiliu Midrigan

American Economic Review

We develop a tractable sticky price model in which the fraction of price changes evolves endogenously over time and, consistent with the evidence, increases with inflation. Because we assume that firms sell multiple products and choose how many, but no...

Default and Interest Rate Shocks: Renegotiation Matters

By Juan Nicolini, Victor Almeida, Carlos Esquivel, and Timothy J. Kehoe

American Economic Review

We develop a sovereign default model with debt renegotiation in which interest-rate shocks affect default incentives through two mechanisms. Under the standard mechanism, higher interest rates tighten the government’s budget constraint. Under the ren...

Disruption in the Classroom: Experimental Evidence from Ecuador

By Pedro Carneiro, Yyannu Cruz-Aguayo, Francesca Salvati, and Norbert Schady

American Economic Journal: Applied Economics

We study how poorly-behaved children affect learning and other outcomes of their peers using data from a unique experiment in Ecuador. Within each school, students were randomly assigned to classrooms in every grade for seven consecutive grades, between k...

ASSA 2027 Participant Information

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ASSA 2027 KiddieCorp (Childcare)

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ASSA 2027 Job Market Information

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The Andrew Brimmer Undergraduate Essay Prize

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AEA Award for Outstanding Achievement in Diversity and Inclusion

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Supply Chain Resilience: Evidence from Indian Firms

By Gaurav Khanna, Nicolas Morales, and Nitya Pandalai-Nayar

American Economic Journal: Macroeconomics

We study features that supply-chains more resilient. Using new data on firm-to-firm transactions from an Indian state, we construct a firm-specific measure of upstream exposure to Covid-19 lockdowns based on pre-period purchases from affected suppliers. A...