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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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The Architecture of Social Networks and the Diffusion of Innovations

Bryony Reich

For many technologies and behaviors, an agent’s benefit from adopting depends on his contacts adopting, and the benefit to his contacts of adopting depends on their contacts adopting. This paper examines how the architecture of these connections shapes the success or failure of the diffusion of innovations. We start with a standard model of diffusion with the key addition that some agents can coordinate their decisions. This captures the idea that people often talk and make decisions together with friends or family to adopt technologies.

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Closing Gender Gaps Through Workplace Diversity: The Intergenerational Effects of World War I

Abhay Aneja, Silvia Farina, and Guo Xu

This paper combines personnel records of the U.S. government with census data to study how exposure to greater female representation at work can persistently reduce intergenerational gender gaps in labor market outcomes. Exploiting city-by-department variation in the sudden expansion of female employment during World War I, we find that daughters of civil servants exposed to female co-workers are more likely to work later in life.

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Improve your economic data analysis by using jackknife standard errors under clustering. This is a minor code change, and can lead to greatly improved inference. This paper provides the theoretical foundation.

New paper by @BruceEHansen

https://www.restud.com/jackknife-standard-errors-for-clustered-regression/

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From 1 June 2026, the submission fee for the Review of Economic Studies will increase to USD 250, with the reduced student rate increasing to USD 150.

Full details are available on our website.

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New paper by Aneja, Farina, and Xu:

https://www.restud.com/closing-gender-gaps-through-workplace-diversity-the-intergenerational-effects-of-world-war-i/

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A new tractable model with persistent, spatially correlated utility explains a new fact about how migration evolves over time, with implications for dynamics and welfare.

New paper by @greg_l_howard & Shao:

https://www.restud.com/the-dynamics-of-internal-migration-a-new-fact-and-its-implications/

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