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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Peer Effects in Consideration and Preferences

Nail Kashaev, Natalia Lazzati, and Ruli Xiao

We develop a general model of discrete choice that incorporates peer effects in preferences and consideration sets. We characterize the equilibrium behavior and establish conditions under which all parts of the model can be recovered from a sequence of choices. We allow peers to affect preferences, consideration, or both. We show that these peer-effect mechanisms have different behavioral implications in the data.

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Spatial Implications of Telecommuting

Matthew J. Delventhal and Andrii Parkhomenko

We build a quantitative spatial model in which some workers can substitute on-site effort with work done from home. Ability and propensity to telecommute vary by education and industry. We quantify our framework to match the distribution of jobs and residents across 4,502 U.S. locations. Then we simulate permanent increases in the attractiveness and productivity of telework that lead to greater adoption of hybrid and fully remote work.

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A Temporary VAT Cut as Unconventional Fiscal Policy

Ruediger Bachmann, Benjamin Born, Olga Goldfayn-Frank, Georgi Kocharkov, Ralph Luetticke, and Michael Weber

We exploit Germany’s temporary three-percentage-point VAT cut in the second half of 2020 to study the spending response to unconventional fiscal policy. We use survey and scanner data on household consumption expenditures and their perceived pass-through of the tax change into prices, and a HANK model to quantify the effects of this VAT policy.

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Competing under Information Heterogeneity: Evidence from Auto Insurance

Marco Cosconati, Yi Xin, Fan Wu, and Yizhou Jin

This paper studies competition under information heterogeneity in selection markets and examines the impact of public information regulations aimed at reducing information asymmetries between competing firms. We develop a novel model and introduce new empirical strategies to analyze imperfect competition in markets where firms have heterogeneous information about consumers, vary in cost structures, and offer differentiated products.

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Pigovian Transport Pricing in Practice

Beat Hintermann, Beaumont Schoeman, Joseph Molloy, Thomas Götschi, Alberto Castro, Christopher Tchervenkov, Uros Tomic, and Kay W. Axhausen

We implement Pigovian transport pricing in a field experiment in urban agglomerations of Switzerland over the course of 8 weeks. Our pricing considers the external costs from climate damages, health outcomes from pollution, accidents and physical activity, and congestion. It varies across time, space and mode of transport and is deducted from a budget provided to GPS-tracked participants.

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Data isn’t “free.” It’s missing from GDP.

A new macro model shows data barter, mis-measurement, and why growth is bigger than we think—by up to 6%.

New paper by @laura_veldkamp and Farboodi

https://www.restud.com/a-model-of-the-data-economy/

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New paper by Farina, Fréchette, Ispano, Lizzeri, and Perego

https://www.restud.com/the-selective-disclosure-of-evidence-an-experiment/

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Under Smooth Diagnostic Expectations overreaction increases smoothly with uncertainty, providing a micro-foundation for key properties of survey data and the business cycle.

New paper by @Francesco_Bia, @CosminIlut, and @hpfilter

https://www.restud.com/smooth-diagnostic-expectations/

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New paper by Kwak

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