Economics
We study the problem of aggregating distributions, such as budget proposals, into a collective distribution. An ideal aggregation mechanism would be Pareto efficient, strategyproof, and fair. Most previous work assumes that agents evaluate…
We leverage multimodal large language models (LLMs) to construct a dataset of 306,070 German patents (1877-1918) from 9,562 archival image scans using our LLM-based pipeline powered by Gemini-2.5-Pro and Gemini-2.5-Flash-Lite. Our…
This paper investigates how institutional wage-setting constraints, such as a national minimum wage or collectively bargained wages, affect firm responses to demand shocks. We develop a framework to interpret heterogeneous shock responses…
Artificial intelligence has become a key arena of global technological competition and a central concern for Europe's quest for technological sovereignty. This paper analyzes global AI patenting from 2010 to 2023 to assess Europe's position…
Business growth is a goal of great importance for its both private and social benefits. Many firms view business growth as an imperative for their survival, stability, and long-term success. Business growth can be socially beneficial, too,…
A large literature has documented transitivity as a key feature of social networks: individuals are more likely connected with each other if they share common connections with other individuals. We take this idea to trading relationships…
We present a new approach to formulating and solving heterogeneous agent models with aggregate risk. We replace the cross-sectional distribution with low-dimensional prices as state variables and let agents learn equilibrium price dynamics…
This paper examines wage returns to labor-market experience with a focus on immigrant assimilation and the portability of foreign-acquired human capital. Using U.S. Census and American Community Survey microdata from IPUMS, I study a sample…
We study the implementability of stable matchings in a two-sided market model with one-sided incomplete information. Firms' types are publicly known, whereas workers' types are private information. A mechanism generates a matching and…
Society as a whole faces a host of economic tradeoffs, many of which emerge around economic policies. An example of tradeoffs that any society faces in many economic realms is the tradeoff between economic efficiency and income equality…
The Fourth Industrial Revolution commonly refers to the accelerating technological transformation that has been taking place in the 21st century. Economic growth theories which treat the accumulation of knowledge and its effect on…
We propose robust two-sample tests for comparing means in time series. The framework accommodates a wide range of applications, including structural breaks, treatment-control comparisons, and group-averaged panel data. We first consider…
We re-visit tail the index regressions framework. For linear specifications, we find that the usual full rank condition can fail because conditioning on extreme outcomes causes regressors to degenerate to constants. Taking this into…
This paper considers the identification of dynamic treatment effects with panel data, in complex designs where the treatment may not be binary and may not be absorbing. We first show that under no-anticipation and parallel-trends…
This paper introduces the Non-Additive Difference-in-Differences (NA-DiD) framework, which extends classical DiD by incorporating non-additive measures the Choquet integral for effect aggregation. It serves as a novel econometric tool for…
This paper introduces Propose or Vote (PoV), a democratic procedure for collective decision-making and elections that does not rely on a central mechanism designer. In the first stage, members of a polity choose whether to become…
Panel data allows for the modeling of unobserved heterogeneity, significantly raising the number of nuisance parameters and making high dimensionality a practical issue. Meanwhile, temporal and cross-sectional dependence in panel data…
We study a class of binary treatment choice problems with partial identification through the lens of robust (multiple prior) Bayesian analysis. We use a convenient set of prior distributions to derive ex-ante and ex-post robust Bayes…
In this paper, I develop and characterize two models of random attention that differ from each other with respect to the menu-dependence of the unobserved reference alternatives. In both models, the decision-maker pays attention to subsets…
How should forecasters be incentivized to acquire the most information when learning takes place over time? We address this question in the context of a novel dynamic mechanism design problem in which a designer incentivizes an expert to…