Accepted Papers

Are Executives in Short Supply? Evidence from Death Events

19 February 2023

Julien Sauvagnat and Fabiano Schivardi

Using exhaustive administrative data on Italian social security records, we construct measures of local labor market thickness for executives that vary by industry and location.

The Size and Life-cycle Growth of Plants: The Role of Productivity, Demand and Wedges

19 February 2023

Marcela Eslava, John Haltiwanger, and Nicolas Urdaneta

What determines the distribution of establishments in terms of size and life-cycle growth? How are those determinants related to aggregate productivity?

Salience and Taxation with Imperfect Competition

19 February 2023

Kory Kroft, Jean-William P. Laliberté, René Lael-Vizcaíno, and Matthew J. Notowidigdo

This paper studies commodity taxation in a model featuring heterogeneous consumers, imperfect competition, and tax salience. We derive new formulas for the incidence and marginal excess burden of commodity taxation highlighting interactions between tax salience and market structure.

Credit Access, Selection, and Incentives in a Market for Asset Collateralized Loans: Evidence from Kenya

16 February 2023

William Jack, Michael Kremer, Joost de Laat, and Tavneet Suri

We study the potential for asset collateralization to expand access to credit in rural Kenya. Increasing the share of a loan for a durable agricultural asset that is collateralized by the physical asset itself (from zero to 96%) while reducing the share backed by financial assets increases loan take-up considerably, with only a very limited impact on repayment behavior and the lender’s profitability.

Diagnostic Business Cycles

14 February 2023

Francesco Bianchi, Cosmin Ilut, and Hikaru Saijo

A large psychology literature argues that, due to selective memory recall, decision-makers’ forecasts of the future are overly influenced by the perceived news.

A Macro-Finance Model with Sentiment

14 February 2023

Peter Maxted

This paper incorporates diagnostic expectations into a general equilibrium macroeconomic model with a financial intermediary sector. Diagnostic expectations are a forward-looking model of extrapolative expectations that overreact to recent news.

International Spillovers and Bailouts

14 February 2023

Marina Azzimonti and Vincenzo Quadrini

We study how cross-country macroeconomic spillovers caused by sovereign default affect equilibrium bailouts.

Human Capital, Female Employment, and Electricity: Evidence from the Early 20th-Century United States

12 February 2023

Daniela Vidart

This paper revisits the link between electrification and the rise in female labor force participation (LFP), and presents theoretical and empirical evidence showing that electrification triggered a rise in female LFP by increasing market opportunities for skilled women.

Are Executives in Short Supply? Evidence from Death Events

The Size and Life-cycle Growth of Plants: The Role of Productivity, Demand and Wedges

Salience and Taxation with Imperfect Competition

Credit Access, Selection, and Incentives in a Market for Asset Collateralized Loans: Evidence from Kenya

Diagnostic Business Cycles

A Macro-Finance Model with Sentiment

International Spillovers and Bailouts

Human Capital, Female Employment, and Electricity: Evidence from the Early 20th-Century United States

Follow us