Techniques of Empirical Macroeconomics Part 4

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Techniques of Empirical Macroeconomics Part 5

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Techniques of Empirical Macroeconomics Part 6

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Techniques of Empirical Macroeconomics Part 7

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Techniques of Empirical Macroeconomics Part 8

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2023 Continuing Education Webcasts

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Could giving preference to small business hurt job growth?

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Offering special supports for small businesses in India may not have created the most jobs

Angela Wyse on estimating the US homeless population

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How big is the US homeless population?

Replication Package Temporarily Unavailable

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Call for papers: Socio-Economic Planning Sciences

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January 26, 2023

Manuscripts should be submitted no later than August 30, 2023.

Front Matter

American Economic Review, February 2023

Trade with Correlation

By Nelson Lind and Natalia Ramondo

American Economic Review, February 2023

We develop a trade model with correlation in productivity across countries. The model spans the full class of generalized extreme value import demand systems and implies that countries with relatively dissimilar technology gain more from trade. In the con...

Enabling or Limiting Cognitive Flexibility? Evidence of Demand for Moral Commitment

By Silvia Saccardo and Marta Serra-Garcia

American Economic Review, February 2023

Moral behavior is more prevalent when individuals cannot easily distort their beliefs self-servingly. Do individuals seek to limit or enable their ability to distort beliefs? How do these choices affect behavior? Experiments with over 9,000 participants s...

Droughts, Deluges, and (River) Diversions: Valuing Market-Based Water Reallocation

By Will Rafey

American Economic Review, February 2023

This paper develops and applies a method to value water trading on a river network. The framework relies on regulatory variation in diversion caps to identify production functions for irrigated farms, then uses the estimated shadow values to assess the ma...

Technology Gaps, Trade, and Income

By Thomas Sampson

American Economic Review, February 2023

This paper quantifies the contribution of technology gaps to international income inequality. I develop an endogenous growth model where cross-country differences in R&D efficiency and cross-industry differences in innovation and adoption opportunities to...

Technological Change and the Consequences of Job Loss

By J. Carter Braxton and Bledi Taska

American Economic Review, February 2023

We examine the role of technological change in explaining the large and persistent decline in earnings following job loss. Using detailed skill requirements from the near universe of online vacancies, we estimate technological change by occupation and fin...

Electronic Food Vouchers: Evidence from an At-Scale Experiment in Indonesia

By Abhijit Banerjee, Rema Hanna, Benjamin A. Olken, Elan Satriawan, and Sudarno Sumarto

American Economic Review, February 2023

We compare how in-kind food assistance and an electronic voucher-based program affect the delivery of aid in practice. The Government of Indonesia randomized across 105 districts the transition from in-kind rice to approximately equivalent electronic vouc...

Constrained-Efficient Capital Reallocation

By Andrea Lanteri and Adriano A. Rampini

American Economic Review, February 2023

We characterize efficiency in an equilibrium model of investment and capital reallocation with heterogeneous firms facing collateral constraints. The model features two types of pecuniary externalities: collateral externalities, because the resale price o...

The Voice of Monetary Policy

By Yuriy Gorodnichenko, Tho Pham, and Oleksandr Talavera

American Economic Review, February 2023

We develop a deep learning model to detect emotions embedded in press conferences after the Federal Open Market Committee meetings and examine the influence of the detected emotions on financial markets. We find that, after controlling for the Federal Res...