Accepted Papers

The Review of Economic Studies is one of the most highly respected academic journals in the field of economics. It is known for publishing leading research in all areas of economics, from microeconomics to macroeconomics. The journal is published by the Oxford University Press.

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Identification and estimation of dynamic random coefficient models

Wooyong Lee

I study linear panel data models with predetermined regressors (such as lagged dependent variables) where coefficients are individual-specific, allowing for heterogeneity in the effects of the regressors on the dependent variable. I show that the model is not point-identified in a short panel context but rather partially identified, and I characterize the identified sets for the mean, variance, and CDF of the coefficient distribution.

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Financial Intermediation and Aggregate Demand: A Sufficient Statistics Approach

Yu-Ting Chiang and Piotr Zoch

We show that the financial sector’s asset supply elasticities are sufficient statistics summarizing its macroeconomic effects for a large class of financial frictions. These elasticities are crucial for a wide range of policy questions, ranging from the size of fiscal multipliers to the relative effectiveness of asset purchases targeting the financial sector versus tax cuts targeting households.

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Input Sourcing under Climate Risk: Evidence from U.S. Manufacturing Firms

Joaquin Blaum, Federico Esposito, and Sebastian Heise

We study the effect of risk on how firms organize their supply chains. We use transaction-level data on U.S. manufacturing imports to construct a novel measure of input sourcing risk based on the historical volatility of ocean shipping times. Our measure isolates the unexpected component of shipping times that is induced by weather conditions along more than 331,000 maritime routes.

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New paper by Kalouptsidi, Kitamura, Lima, and Souza-Rodrigues:

https://www.restud.com/counterfactual-analysis-for-structural-dynamic-discrete-choice-models/

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In dynamic project selection with costly verification claims of high quality may be less likely to be verified over time—a finding with implications for organizational governance.

New paper by @JlibDoesEcon & Li:

https://www.restud.com/the-dynamics-of-verification-when-searching-for-quality/

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New paper by Tuttle:

https://www.restud.com/racial-disparities-in-federal-sentencing-evidence-from-drug-mandatory-minimums/

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New paper by Lee:

https://www.restud.com/identification-and-estimation-of-dynamic-random-coefficient-models/

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