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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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Memory and Markets

22 June 2023

Sergey Kovbasyuk and Giancarlo Spagnolo

In many environments, including credit and online markets, records about participants are collected, published, and erased after some time. We study the effects of erasing past records in a dynamic market where the quality of sellers follows a Markov process, and buyers leave feedback about sellers to an information intermediary.

Heterogeneous Paths of Industrialization

22 June 2023

Federico Huneeus and Richard Rogerson

Industrialization experiences differ substantially across countries. We use a benchmark model of structural change to shed light on the sources of this heterogeneity and, in particular, the phenomenon of premature deindustrialization.

The Darwinian Returns to Scale

4 June 2023

David Rezza Baqaee, Emmanuel Farhi, and Kunal Sangani

How does an increase in market size, say due to globalization, affect welfare? We study this question using a model with monopolistic competition, heterogeneous markups, and fixed costs. We characterize changes in welfare and decompose changes in allocative efficiency into three different effects.

Is the Social Safety Net a Long-Term Investment? Large-Scale Evidence from the Food Stamps Program

4 June 2023

Martha Bailey, Hilary Hoynes, Maya Rossin-Slater, and Reed Walker

We use novel, large-scale data on 17.5 million Americans to study how a policy-driven increase in economic resources affects children’s long-term outcomes. Using the 2000 Census and 2001-2013 American Community Survey linked to the Social Security Administration’s NUMIDENT, we leverage the county-level roll-out of the Food Stamps program between 1961 and 1975.

Resolving Failed Banks: Uncertainty, Multiple Bidding & Auction Design

4 June 2023

Jason Allen, Robert Clark, Brent Hickman, and Eric Richert

The FDIC resolves insolvent banks with scoring auctions. Although the structure of the scoring rule is known to bidders, they are uncertain about how the FDIC trades off different bid components. Scoring-rule uncertainty motivates bidders to submit multiple bids for the same failed bank.

The Slaughter of the Bison and Reversal of Fortunes on the Great Plains

24 May 2023

Donn. L. Feir, Rob Gillezeau, and Maggie E.C. Jones

In the late nineteenth century, the North American bison was brought to the brink of extinction in just over a decade. We demonstrate that the loss of the bison had immediate, negative consequences for the Native Americans who relied on them and ultimately resulted in a permanent reversal of fortunes. Once amongst the tallest people in the world, the generations of bison-reliant people born after the slaughter lost their entire height advantage.

The Effect of Wealth on Worker Productivity

24 May 2023

Jan Eeckhout and Alireza Sepahsalari

We propose a theory that analyzes how a workers’ asset holdings affect their job productivity. In a labor market with uninsurable risk, workers choose to direct their job search trading off productivity and wages against unemployment risk. Workers with low asset holdings have a precautionary job search motive, they direct their search to low productivity jobs because those offer a low risk at the cost of low productivity and a low wage.

Selfish Corporations

21 May 2023

Emanuele Colonnelli, Niels Joachim Gormsen, and Tim McQuade

We study how perceptions of corporate responsibility influence policy preferences and the effectiveness of corporate communication when agents have imperfect memory recall. Using a new large-scale survey of U.S. citizens on their support for corporate bailouts, we first establish that the public demands corporations to behave better within society, a sentiment we label “big business discontent.”

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We are pleased to introduce Niels Gormsen (@NielsGormsen), Copenhagen Business School & University of Chicago, as a new member of the Editorial Board of REStud. His outstanding expertise will help us continue to publish pioneering economic research.
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Welcome aboard! Jose Vasquez (@jpvasq), London School of Economics, has joined the Editorial Board of The Review of Economic Studies. We are grateful to have his expertise supporting our mission.
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We are thrilled to announce that Ro’ee Levy (@RoeeLevyZ), Tel Aviv University School of Economics, is joining the Editorial Board of The Review of Economic Studies. We look forward to his valuable contributions to the journal’s future.
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Exciting news: Dávid Nagy, CREI, has joined the Editorial Board of The Review of Economic Studies. His deep knowledge will help guide the journal’s editorial process.
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The Review of Economic Studies

The Review was founded in 1933 by a group of Economists from leading UK and US departments. It is now managed by European-based economists.

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The Review of Economic Studies
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