Page 38 – The Review of Economic Studies

Left-Digit Bias at Lyft

8 February 2023

John A. List, Ian Muir, Devin Pope, and Gregory Sun

Left-digit bias (or 99-cent pricing) has been discussed extensively in economics, psychology, and marketing. Despite this, we show that the rideshare company, Lyft, was not using a 99-cent pricing strategy prior to our study.

The Lost Capital Asset Pricing Model

8 February 2023

Daniel Andrei, Julien Cujean, and Mungo Wilson

We provide a novel explanation for the empirical failure of the CAPM despite its widespread practical use. In a rational-expectations economy in which information is dispersed, variation in expected returns over time and across investors creates an informational gap between investors and the empiricist.

The Effects of Partial Employment Protection Reforms: Evidence from Italy

5 February 2023

Diego Daruich, Sabrina Di Addario, and Raffaele Saggio

We combine matched employer-employee data with firms’ financial records to study a 2001 Italian reform that lifted constraints on the employment of temporary contract workers while maintaining rigid employment protection regulations for employees hired under permanent contracts.

Regional Consumption Responses and the Aggregate Fiscal Multiplier

5 February 2023

Bill Dupor, Marios Karabarbounis, Marianna Kudlyak, and M. Saif Mehkari

We use regional variation in the American Recovery and Reinvestment Act (2009-2012) to analyze the effect of government spending on consumer spending.

Down the River: Glyphosate Use in Agriculture and Birth Outcomes of Surrounding Populations

30 January 2023

Mateus Dias, Rudi Rocha, and Rodrigo R. Soares

This paper documents an externality from the agricultural use of the most widely applied herbicide in the world—glyphosate—on birth outcomes of surrounding populations.

Central Bank Balance Sheet Policies Without Rational Expectations

30 January 2023

Luigi Iovino and Dmitriy Sergeyev

We study the effects of central bank balance sheet policies—namely, quantitative easing and foreign exchange interventions—in a model where people form expectations through an iterative level-k thinking process.

Stalled Racial Progress and Japanese Trade in the 1970s and 1980s

24 January 2023

Mary Kate Batistich and Timothy N. Bond

We assess the impact of a rapid rise in Japanese import competition on the growth in racial earnings and employment gaps during the 1970s and 80s.

Hinterlands, city formation and growth: Evidence from the U.S. westward expansion

24 January 2023

Dávid Krisztián Nagy

I study how geography shaped city formation and aggregate development in the United States prior to the Civil War. To guide my analysis, I present a conjecture that cities’ farm hinterlands fostered both city development and aggregate growth: the hinterland hypothesis.

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Chris Cronin's recent Review of Economic Studies (@RevEconStudies) article, "What Good Are Treatment Effects Without Treatment? Mental Health and the Reluctance to Use Talk Therapy," with Forsstrom and Papageorge, is one of their "featured" articles.

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

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

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"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/