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The effectiveness of HARP

[Research Highlight]

April 21, 2021

How do homeowners respond when they can suddenly refinance their mortgages at lower rates?

www.aeaweb.org/research/mortgage-refinances-debt-default-spending-harp

How Do Mortgage Refinances Affect Debt, Default, and Spending? Evidence from HARP

By Joshua Abel and Andreas Fuster

American Economic Journal: Macroeconomics, April 2021

We use quasi-random access to the Home Affordable Refinance Program (HARP) to identify the causal effect of refinancing into a lower-rate mortgage on borrower balance sheet outcomes. Refinancing substantially reduces borrower default rates on mortgages an...

www.aeaweb.org/articles?id=10.1257/mac.20180116

Hyperlocality, railway competition, and wealth taxes

[News]

May 03, 2021

Reading recommendations from Timothy Taylor, managing editor of the Journal of Economic Perspectives.

www.aeaweb.org/journals/jep/recommendations-for-further-reading/spring-2021

Decomposing news shocks

[Page]

How do expectations about the future supply of oil affect today’s oil prices?

www.aeaweb.org/research/charts/oil-supply-news-opec-announcements

Call for Papers: Young Economists’ Competition 2021 - ECB Forum on Central Banking

[News]

May 06, 2021

The deadline for the competition is May 30 2021.

www.aeaweb.org/news/call-for-papers-ecb-competition-may-6-2021

Captive shoppers

[Research Highlight]

April 29, 2021

To what extent are travel barriers driving price dispersion in cities?

www.aeaweb.org/research/jerusalem-city-prices-supermarkets

Retail Prices in a City

By Alon Eizenberg, Saul Lach, and Merav Oren-Yiftach

American Economic Journal: Economic Policy, May 2021

This study examines grocery price differentials across neighborhoods in a large metropolitan area (the city of Jerusalem, Israel). Important variation in access to affordable grocery shopping is documented using CPI data on prices and neighborhood-level...

www.aeaweb.org/articles?id=10.1257/pol.20180218

School spending matters

[Page]

State funding cuts during the Great Recession had lasting effects on student outcomes.

www.aeaweb.org/research/charts/state-education-spending-recession-impact

A Few Bad Apples? Racial Bias in Policing

By Felipe Goncalves and Steven Mello

American Economic Review, May 2021

We estimate the degree to which individual police officers practice racial discrimination. Using a bunching estimation design and data from the Florida Highway Patrol, we show that minorities are less likely to receive a discount on their speeding tickets...

www.aeaweb.org/articles?id=10.1257/aer.20181607

Is No News (Perceived As) Bad News? An Experimental Investigation of Information Disclosure

By Ginger Zhe Jin, Michael Luca, and Daniel Martin

American Economic Journal: Microeconomics, May 2021

This paper uses laboratory experiments to directly test a central prediction of disclosure theory: that strategic forces can lead those who possess private information to voluntarily provide it. In a simple sender-receiver game, we find that senders discl...

www.aeaweb.org/articles?id=10.1257/mic.20180217

Evaluating the Economic Cost of Coastal Flooding

By Klaus Desmet, Robert E. Kopp, Scott A. Kulp, Dávid Krisztián Nagy, Michael Oppenheimer, Esteban Rossi-Hansberg, and Benjamin H. Strauss

American Economic Journal: Macroeconomics, April 2021

Sea level rise will cause spatial shifts in economic activity over the next 200 years. Using a spatially disaggregated, dynamic model of the world economy, this paper estimates the consequences of probabilistic projections of local sea level changes. Unde...

www.aeaweb.org/articles?id=10.1257/mac.20180366