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Announcement📢:

We are pleased to welcome @andreamoro (Vanderbilt University) as our new Data Editor, effective 1 January 2026. We look forward to collaborating with him in this new role.

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"Free markets failed for 700 years. When poor farmers couldn't pay, a simple quota beat auctions. Sometimes the invisible hand needs handcuffs."

New paper by @javdito & @JosespinSanchez

https://www.restud.com/the-illiquidity-of-water-markets/

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Patent term boosts long run innovation, but policy anticipation creates surprising, medium term dynamics: innovation rises before expected cuts and remains high due to spillovers.

New paper by @EconFaber:

https://www.restud.com/patent-term-innovation-and-the-role-of-technology-disclosure-externalities/

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"We investigate how irreversible investment, arising from a wedge between capital purchase and resale price, affects aggregate capital fluctuations."

New paper by @isaacbaley & @jandres_blanco.

https://www.restud.com/the-macroeconomics-of-irreversibility/

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