综合经济学
The growing urgency of the climate crisis has driven the implementation of diverse policy instruments to mitigate greenhouse gas (GHG) emissions. Among them, carbon pricing mechanisms such as carbon taxes and emissions trading systems…
Tournament-based compensation schemes with forced distributions represent a widely adopted class of relative performance evaluation mechanisms in technology and corporate environments. These systems mandate within-team ranking and fixed…
This paper studies whether, how, and for whom generative artificial intelligence (GenAI) facilitates firm creation. Our identification strategy exploits the November 2022 release of ChatGPT as a global shock that lowered start-up costs and…
We consider a Kyle-type model where insider trading takes place among a potentially large population of liquidity traders and is subject to legal penalties. Insiders exploit the liquidity provided by the trading masses to "camouflage" their…
This paper examines how natural gas supply shocks affect Italian firms' pricing decisions and inflation expectations using quarterly survey data from the Bank of Italy's Survey on Inflation and Growth Expectations (SIGE). We identify…
Incomplete take-up of welfare benefits remains a major policy puzzle. This paper decomposes the causes of incomplete welfare take-up into two mechanisms: inattention, where households do not consider program participation, and active…
This paper examines how the observability of demand shocks influences pricing patterns and market outcomes when firms delegate pricing decisions to Q-learning algorithms. Simulations show that demand observability induces Q-learning agents…
This review article examines the challenge of eliciting truthful information from multiple individuals when such information cannot be verified, a problem known as information elicitation without verification (IEWV). This article reviews…
We study an infinite-horizon optimal investment, consumption and insurance problem for an economic agent who consumes a perishable and a durable good. The agent trades in a risk-free asset, a risky asset, and a durable good whose price…
The adoption of generative artificial intelligence (AI) is predicted to lead to fundamental shifts in the labour market, resulting in displacement or augmentation of AI-exposed roles. To investigate the impact of AI across a large…
How should taxes on externality-generating activities be adjusted if they are regressive? In our model, the government raises revenue using distortionary income and commodity taxes. If more or less productive people have identical tastes…
We analyze how an incumbent antibiotic monopolist responds to the threat of post-entry Bertrand competition by a vertically differentiated rival. In a two-period model where current production drives future resistance, Bertrand competition…
The divergence in globalization strategies between the US (retrenchment and polarization) and China (expansion) presents a puzzle that traditional distributional theories fail to fully explain. This paper offers a novel framework by…
This paper examines the relationship between trade and financial openness, as well as the operational efficiency and growth of Turkish banks, from 2010 to 2023. Utilizing CAMELG-DEA and dynamic panel data analysis, the study finds that…
We analyze a novel large-scale social-media-based measure of U.S. job satisfaction, constructed by applying a fine-tuned large language model to 2.6 billion georeferenced tweets, and link it to county-level labor market conditions…
We study the health consequences of redistributing political power through the 1975 extension of the Voting Rights Act, which eliminated barriers to voting for previously disenfranchised nonwhite populations. The intervention led to broad…
Traditional optimal commodity tax analysis, dating back to Ramsey (1927), prescribes that to maximize welfare one should impose higher taxes on goods with lower demand elasticities. Yet policy makers do not stress minimizing efficiency…
Residential solar photovoltaic (PV) systems are a cornerstone of residential decarbonization and energy resilience. However, most existing systems are PV-only and cannot provide backup power during grid failures. Here, we present a…
Why do firms produce scientific research and make it available to the public, including their rivals? Prior literature has emphasized the tension between imitation risks from disclosure and scientists' preferences for publication. This…
In democracies, major policy decisions typically require some form of majority or consensus, so elites must secure mass support to govern. Historically, elites could shape support only through limited instruments like schooling and mass…