Economics
This paper investigates the strategic implications of the uniform rank-minimizing mechanism (URM), an assignment rule that selects uniformly from the set of deterministic assignments minimizing the sum of agents' reported ranks. We focus on…
The negative demand shock due to the COVID-19 lockdown has reduced net demand for electricity -- system demand less amount of energy produced by intermittent renewables, hydroelectric units, and net imports -- that must be served by…
Exogeneity is key for IV estimators, which can assessed via overidentification (OID) tests. We discuss the Kleibergen-Paap (KP) rank test as a heteroskedasticity-robust OID test and compare to the typical J-test. We derive the…
Focusing on stochastic finite-action mechanisms, we study implementation in undominated strategies and iteratively undominated strategies. We establish both possibility and impossibility results that resolve the open question in B\"orgers…
This document offers a synthesis of recent economic literature on three interconnected areas of labor markets: informality, the effects of the minimum wage, and monopsony power. Through the consolidation and meta-analysis of findings from…
Quantitative research relies heavily on coding, and coding errors are relatively common even in published research. In this paper, we examine whether individuals are more or less likely to check their code depending on the results they…
Difference-in-Differences (DiD) and Synthetic Control (SC) are widely used methods for causal inference in panel data, each with distinct strengths and limitations. We propose a novel method for short-panel causal inference that integrates…
Responsibility in complex networks extends beyond direct actions: players should also bear responsibility for the indirect effects within their supply chains or network. We introduce a novel framework to allocate responsibility for indirect…
New methods for modeling least-cost diets that meet nutritional requirements for health have emerged as important tools for informing nutrition policy and programming around the world. This study develops a three-step approach using cost of…
Business cycles (a periodic change of e.g. GDP over five to ten years) exist, but a proper explanation for it is still lacking. Here we extend the well-known NAIRU (non-accelerating inflation rate of unemployment) model, resulting in a set…
We propose a pseudo-structural framework for analyzing contemporaneous co-movements in reduced-rank matrix autoregressive (RRMAR) models. Unlike conventional vector-autoregressive (VAR) models that would discard the matrix structure, our…
This paper offers a synthesis of the empirical literature on the effects of monetary policy. Using the findings from an extensive collection of meta-analyses, it evaluates the effectiveness of conventional and unconventional monetary policy…
Agricultural commercialization is often promoted as a key driver of development in Sub-Saharan Africa, yet its benefits may not extend equally to all farmers. Using longitudinal household data from the LSMS-ISA and a two-way Mundlak fixed…
This study aims to reveal different varieties of capitalism and to uncover new patterns of development that emerged between 2010 and 2020. A hybrid model is applied that quantifies three pillars of development (Future - F, Outside - O,…
The goal of this research is to uncover the channels through which research and development (R&D) impacts economic growth in developing countries. The study employed nine variables from three broader categories in the World Economic Forum…
The CAPM regression is typically interpreted as if the market return contemporaneously \emph{causes} individual returns, motivating beta-neutral portfolios and factor attribution. For realized equity returns, however, this interpretation is…
The publication process both determines which research receives the most attention, and influences the supply of research through its impact on researchers' private incentives. We introduce a framework to study optimal publication decisions…
Efforts to apply economic complexity to identify diversification opportunities often rely on diagrams comparing the relatedness and complexity or products, technologies, or industries. Yer, the use of these diagrams is not based on…
This paper presents a comparative analysis evaluating the accuracy of Large Language Models (LLMs) against traditional macro time series forecasting approaches. In recent times, LLMs have surged in popularity for forecasting due to their…
This paper addresses the sample selection problem in panel dyadic regression analysis. Dyadic data often include many zeros in the main outcomes due to the underlying network formation process. This not only contaminates popular estimators…