The Promise and Peril of Entrepreneurship: Job Creation and Survival among US Startups by Robert W. Fairlie, Zachary Kroff, Javier Miranda, and Nikolas Zolas

By Shai Bernstein

Journal of Economic Literature

Background Risk and Small-Stakes Risk Aversion

By Xiaosheng Mu, Luciano Pomatto, Philipp Strack, and Omer Tamuz

American Economic Review: Insights, June 2024

Building on Pomatto, Strack, and Tamuz (2020), we identify a tight condition for when background risk can induce first-order stochastic dominance. Using this condition, we show that under plausible levels of background risk, no theory of choice under risk...

Disentangling Rent Index Differences: Data, Methods, and Scope

By Brian Adams, Lara Loewenstein, Hugh Montag, and Randal Verbrugge

American Economic Review: Insights, June 2024

Rent measurement determines 32 percent of the CPI. Accurate rent measurement is therefore essential for accurate inflation measurement, but the CPI rent index often differs from alternative rent inflation measures. Using repeat-rent inflation measures cre...

Debt Moratoria: Evidence from Student Loan Forbearance

By Michael Dinerstein, Constantine Yannelis, and Ching-Tse Chen

American Economic Review: Insights, June 2024

We evaluate the effects of the 2020 student debt moratorium. Using administrative credit panel data, we compare borrowers whose loans were frozen to borrowers whose loans were not frozen based on whether the government owned the loans. We estimate that bo...

Moderate Utility

By Junnan He and Paulo Natenzon

American Economic Review: Insights, June 2024

Hotelling's and Salop's spatial competition models, as well as nested logit, covariance probit, elimination-by-aspects, and several other well-known discrete choice models, belong to the class of moderate utility models, where binary choices are a functio...

The US-China Trade War and Global Reallocations

By Pablo Fajgelbaum, Pinelopi Goldberg, Patrick Kennedy, Amit Khandelwal, and Daria Taglioni

American Economic Review: Insights, June 2024

The US-China trade war created net export opportunities rather than simply shifting trade across destinations. Many "bystander" countries grew their exports of taxed products into the rest of the world (excluding the United States and China). Country-spec...

The Fading Treatment Effects of a Multifaceted Asset-Transfer Program in Ethiopia

By Nathan Barker, Dean Karlan, Christopher Udry, and Kelsey Wright

American Economic Review: Insights, June 2024

We study the long-run effects of a big-push "graduation" program in Ethiopia in which very poor households received a one-time transfer of productive assets (mainly livestock), technical training, and access to savings accounts. After seven years, treatme...

Inflation Expectations and Misallocation of Resources: Evidence from Italy

By Tiziano Ropele, Yuriy Gorodnichenko, and Olivier Coibion

American Economic Review: Insights, June 2024

Using Italian data that include both inflation forecasts of firms and external information on their balance sheets, we study the causal effect of changes in the dispersion of beliefs about future inflation on the misallocation of resources. We find that a...

Universalism and Political Representation: Evidence from the Field

By Benjamin Enke, Raymond Fisman, Luis Mota Freitas, and Steven Sun

American Economic Review: Insights, June 2024

This paper provides field evidence on the link between morals and political behavior. We create a district-level variable that reflects to what degree charitable giving decreases as a function of (geographic and social) distance, which we interpret as a r...

Trade and Trees

By Bård Harstad

American Economic Review: Insights, June 2024

International trade and natural resource exploitation interact in multiple ways. This paper first presents a dynamic game in which the South (S) exploits (e.g., deforests) in order to export (e.g., lumber and agricultural products). Because of negative ex...

Front Matter

American Economic Review: Insights, June 2024

EDUCATE Workshop: Details

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The Political Economics of Non-democracy

By Georgy Egorov and Konstantin Sonin

Journal of Economic Literature, June 2024

We survey recent theoretical and empirical literature on political economics of non-democracies. Nondemocratic regimes face multiple challenges to their rule, both internal, such as palace coups or breakdown of their support coalition, and external, such ...

Nonparametric Approaches to Empirical Welfare Analysis

By Debopam Bhattacharya

Journal of Economic Literature, June 2024

Welfare analysis of policy interventions is ubiquitous in economic research. It plays an important role in merger analysis and antitrust litigation, design of tax and subsidies, and informs the current debate on a universal basic income. This paper prov...

Racial Disparities in the Criminal Legal System: Shadows of Doubt and Beyond

By Amanda Y. Agan

Journal of Economic Literature, June 2024

Racial disparities permeate every single stage of the criminal legal process. In Shadows of Doubt: Stereotypes, Crime, and the Pursuit of Justice, Brendan O'Flaherty and Rajiv Sethi shed light on the stereotype-driven biases that contribute to th...

Data and the Aggregate Economy

By Laura Veldkamp and Cindy Chung

Journal of Economic Literature, June 2024

Recent data technology innovations, such as artificial intelligence and machine learning, have transformed the production of knowledge and increased the importance of data. This review explores how data—digitized information—has been modeled within cl...

Optimal Income Taxation

By Louis Kaplow

Journal of Economic Literature, June 2024

This article explores subjects in optimal income taxation characterized by recent research interest, practical importance in light of concerns about inequality, potential for misunderstanding, and prospects for advancement. Throughout the analysis, path...

Combinatorial Auctions in Practice

By Ignacio Palacios-Huerta, David C. Parkes, and Richard Steinberg

Journal of Economic Literature, June 2024

We survey the uses of combinatorial auctions that have been deployed in practice, giving emphasis to their key representational and economic aspects. In addition, we discuss behavioral economics considerations on both the bidder and auctioneer sides of th...

Central Bank Communication with the General Public: Promise or False Hope?

By Alan S. Blinder, Michael Ehrmann, Jakob de Haan, and David-Jan Jansen

Journal of Economic Literature, June 2024

Central banks are increasingly reaching out to the general public to motivate and explain their monetary policy actions. One major aim of this outreach is to ensure accountability and create trust; another is to guide inflation expectations. This article ...

Debunking Immigration Myths: A Review Essay of Streets of Gold: America's Untold Story of Immigrant Success

By Marco Tabellini

Journal of Economic Literature, June 2024

This essay reviews Streets of Gold: America's Untold Story of Immigrant Success by Ran Abramitzky and Leah Boustan. This elegantly written book, which is a must-read for anyone interested in the topic of immigration, walks the reader through a hi...