Accepted Papers

An Instrumental Variable Approach to Dynamic Models

5 September 2022

Steven Berry and Giovanni Compiani

We present a new class of methods for identification and inference in dynamic models with serially correlated unobservables, which typically imply that state variables are econometrically endogenous.

Culture and the Historical Fertility Transition

26 August 2022

Brian Beach and W. Walker Hanlon

The historical transition to a low fertility regime was central for long-run growth, but what caused it?

Estimating Intergenerational and Assortative Processes in Extended Family Data

26 August 2022

M. Dolores Collado, Ignacio Ortuño-Ortín and Jan Stuhler

We quantify intergenerational and assortative processes by comparing different degrees of kinship within the same generation.

Estimation of Discrete Games with Weak Assumptions on Information

12 August 2022

Lorenzo Magnolfi and Camilla Roncoroni

We propose a method to estimate static discrete games with weak assumptions on the information available to players.

Data-intensive Innovation and the State: Evidence from AI Firms in China

5 August 2022

Martin Beraja, David Y. Yang and Noam Yuchtman

Developing AI technology requires data. In many domains, government data far exceeds in magnitude and scope data collected by the private sector, and AI firms often gain access to such data when providing services to the state.

Wealth Dynamics in Communities

5 August 2022

Daniel Barron, Yingni Guo and Bryony Reich

This paper develops a model to explore how favor exchange influences wealth dynamics. We identify a key obstacle to wealth accumulation: wealth crowds out favor exchange.

We are all behavioral, more or less: A taxonomy of consumer decision making

26 July 2022

Victor Stango and Jonathan Zinman

We examine how 17 behavioral biases relate to each other, to three standard measures of risk and time preferences, to cognitive skills, personality, and demographics, and to outcomes in household finance, well-being, and health.

Infrequent Random Portfolio Decisions in an Open Economy Model

26 July 2022

Philippe Bacchetta, Eric van Wincoop and Eric R. Young

We introduce a portfolio friction in a two-country DSGE model where investors face a constant probability to make new portfolio decisions.

The Review of Economic Studies Follow

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New paper by Jakobsen:

https://www.restud.com/coarse-bayesian-updating/

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New paper by Andre, Haaland, Roth, Wiederholt, and Wohlfart:

https://www.restud.com/narratives-about-the-macroeconomy/

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"How to make decisions that are robust to sampling noise but also to misspecification and related concerns? We analyze this problem as one of minimax regret decision making under partial identification."

New paper by Montiel Olea, Qiu & @JoergStoye:

https://www.restud.com/decision-theory-for-treatment-choice-problems-with-partial-identification/

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How should regulators target their limit enforcement budgets? We quantify the benefits of linked regulation, where regulators dynamically target plants co-owned with other plants with poor compliance records.

New paper by @leistenecon & Vreugdenhil

https://www.restud.com/dynamic-regulation-with-firm-linkages-evidence-from-texas/

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