Accepted Papers

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.

The Cost of Wage Rigidity

12 February 2023

Ester Faia and Vincenzo Pezone

Private efficiency of wage rigidity has taken center stage in economics. Measuring its effects has proven elusive for lack of actual wage data.

Dynamic Asset-Backed Security Design

12 February 2023

Emre Ozdenoren, Kathy Yuan, and Shengxing Zhang

Borrowers obtain liquidity by issuing securities backed by the current period payoff and resale price of a long-lived collateral asset, and they are privately informed about the payoff distribution.

The Review of Economic Studies Follow

The official account of the Review of Economic Studies, one of the world's top economics journals.

Recently accepted to #REStud, "Revisiting the Non-Parametric Analysis of Time-Inconsistent Preferences," from Echenique and Tserenjigmid:

https://www.restud.com/revisiting-the-non-parametric-analysis-of-time-inconsistent-preferences/

#econtwitter

Reply on Twitter 1937209745099669891 Retweet on Twitter 1937209745099669891 1 Like on Twitter 1937209745099669891 8 Twitter 1937209745099669891

Recently accepted to #REStud, "Overconfidence and Prejudice," from Heidhues, Kőszegi and Strack:

https://www.restud.com/overconfidence-and-prejudice/

#econtwitter

Reply on Twitter 1937208422417498443 Retweet on Twitter 1937208422417498443 12 Like on Twitter 1937208422417498443 63 Twitter 1937208422417498443

"Can communities sustain cooperation when players can add or erase signals from their records?
Sufficiently long-lived players can hardly sustain any cooperation, but players w/ intermediate lifespans can sustain some cooperation."

From @harry_toulouse:

https://www.restud.com/community-enforcement-with-endogenous-records/

Reply on Twitter 1937205478775312793 Retweet on Twitter 1937205478775312793 5 Like on Twitter 1937205478775312793 10 Twitter 1937205478775312793

Recently accepted to #REStud, "Behavioral Causal Inference," from Ran Spiegler:

https://www.restud.com/behavioral-causal-inference/

#econtwitter

Reply on Twitter 1937202593920385202 Retweet on Twitter 1937202593920385202 30 Like on Twitter 1937202593920385202 183 Twitter 1937202593920385202

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

The Cost of Wage Rigidity

Dynamic Asset-Backed Security Design

Follow us