Economics
The governance of common-pool resources-resource systems characterized by high subtractability of yield and difficulty of exclusion-constitutes one of the most persistent and intricate challenges in the fields of economics, ecology, and…
Structural Equation Modeling (SEM) systematically validated hierarchical pathways among multiple factors by constructing a dual framework integrating latent variable measurement and path analysis, utilizing covariance matrices derived from…
We provide systematic evidence on the potential for estimating household well-being from mobile phone data. Using data from four countries - Afghanistan, Cote d'Ivoire, Malawi, and Togo - we conduct parallel, standardized machine learning…
This paper evaluates the causal impact of Generative Artificial Intelligence (GenAI) adoption on productivity and systemic risk in the U.S. banking sector. Using a novel dataset linking SEC 10-Q filings to Federal Reserve regulatory data…
We develop an iterative framework for economic measurement that leverages large language models to extract measurement structure directly from survey instruments. The approach maps survey items to a sparse distribution over latent…
The global decline in the labor income share has challenged the classical Kaldor facts; however, the macroeconomic aggregation mechanism -- namely, how aggregate factor shares emerge from firm-level heterogeneity -- remains underexplored.…
As a key advancement in artificial intelligence, large language models (LLMs) are set to transform transportation systems. While LLMs offer the potential to simulate human travelers in future mixed-autonomy transportation systems, their…
We study the design of one-to-one matching mechanisms that are strategy-proof for both sides and as stable as possible. Motivated by the impossibility result of Roth (1982), we formulate the mechanism design problem as a linear program that…
This paper replicates Chen and Kung's 2019 analysis ($The$ $Quarterly$ $Journal$ $of$ $Economics$ 134(1): 185-226). Inspecting the data reveals that nearly one-third of transactions (388,903 out of 1,208,621) are perfect duplicates of other…
We develop a theoretical framework to investigate the link between rising scale economies and stagnating productivity. Our model features heterogeneous firms, imperfect competition, and firm selection. We demonstrate that scale economies…
In semi-logarithmic regressions, treatment coefficients are often interpreted as approximations of the average treatment effect (ATE) in percentage points. This paper highlights the overlooked bias of this approximation under treatment…
This paper develops a peer effect model for count responses under rational expectations. The model accounts for heterogeneity in peer effects across groups based on observed characteristics. Identification is based on the linear model…
Determining an individual's strategic reasoning capability based solely on choice data is a complex task. This complexity arises because sophisticated players might have non-equilibrium beliefs about others, leading to non-equilibrium…
We develop a methodology for conducting inference on extreme quantiles of unobserved individual heterogeneity (e.g., heterogeneous coefficients, treatment effects) in panel data and meta-analysis settings. Inference is challenging in such…
This paper studies how labor market conditions around high school graduation affect postsecondary skill investments. Using administrative data on more than six million German graduates from 1995-2018, and exploiting deviations from secular…
This paper develops a theory of scientific and technological peer effects to study how individuals' productivity responds to the behavior and network positions of their collaborators across both scientific and inventive activities. Building…
The present paper examines the effect of R&D spillovers on regional innovation in Greece over the 2002-2010 period. The approach taken goes beyond a regional knowledge production function and draws possible explanations from a more…
This paper studies whether a small set of dominant countries can account for most of the dynamics of regional oil demand and improve forecasting performance. We focus on dominant drivers within the OECD and a broad GVAR sample covering over…
This study develops a novel class of queueing game to explain a common practice in cargo shipping "Sail Fast, Then Wait" (SFTW), and demonstrates that resolving information asymmetry among ships can deconcentrate port arrival times. We…
We study the trading activity of designated market makers (DMMs) in electronic markets using a unique dataset with audit-trail information on trader classification. DMMs may either adhere to their market-making agreements and offer…