经济学

The competitive equilibrium of general equilibrium theory exists as a fixed point and is, by the theorys own results on aggregate excess demand, in general silent on whether that fixed point is unique, stable, or attained. This paper takes…

Machine learning (ML) has rapidly transformed economic history, lowering costs of digitization, data linkage, and imputation, and making information in historical text usable at scale. This paper offers a practical guide to using these…

In many matching markets, agents care not only about their own partners but also about the matches formed by others. With externalities, stability depends on what agents believe would happen after a deviation. We introduce rationalizable…

This paper provides a toolkit for the study of distributional treatment effects (DTEs) focused on treatment-effect discontinuities defined as points where marginal distributional effects change sign. Building on the Treatment Effects Curve…

China's electric-vehicle (EV) sales share rose from about 1% in 2015 to roughly 45% in 2024. We evaluate this technology transition with an equilibrium differentiated-products model of the Chinese auto market, and quantify both its…

Large Language Models (LLMs) are increasingly used as stand-ins in behavioural games. These stand-ins rely on the assumption that the LLM's distribution of choices meaningfully matches how humans play the same game. This study tests that…

We use web search data to construct monthly indexes of derived demand for cobalt, copper, and nickel, which are key inputs in technologies driving the energy and digital transitions. We incorporate these indexes into Structural Vector…

The 2024 Department of Justice antitrust complaint against RealPage, Inc. named five major residential REITs for coordinating algorithmic rent pricing across hundreds of thousands of apartment units in major US metropolitan areas. This…

Match-fixing undermines the integrity of sport by eroding public trust and threatening the financial sustainability of clubs and leagues. The global expansion of sports betting markets has created new incentives and opportunities for…

Less-salient taxes can ease the classic equality-efficiency trade-off by making people respond less to taxation. But deliberately obscuring taxes may be viewed as dishonest. This creates a three-way trade-off between equality, efficiency,…

Do workers always work more for more? We investigate how intertemporal and uncompensated labor supply decisions change across observational and experimental windows, within the same workers. Combining a real-effort emoji-counting experiment…

We estimate long-run effects of Cuba's 1961 National Health Service and contemporaneous National Literacy Campaign using synthetic-control methods on newly assembled series for 21 former European colonies in the Americas, 1900--2022.…

We examine how the empirical content of revealed preference theory depends on the dimensionality of the choice environment. While higher-dimensional choice problems may appear more demanding, we show that revealed preference restrictions…

Residual-based goodness-of-fit tests for parametric time-series models are often complicated by parameter-estimation effects, which can alter the limiting behavior of diagnostic statistics. We propose a sample-splitting generalized spectral…

This paper proposes a generalized Mundlak estimator based on graph neural networks (GME-GNN). The estimator is designed to mitigate bias arising from group-level heterogeneity and to accommodate within-group dependence among individuals.…

Artificial intelligence feels omnipresent, yet the disruption many expect has not fully arrived. The main reason is not model capability, nor even the tools built to harness those models. Rather, most organizations are still using AI to…

We study markets where firms compete for consumer attention by subsidizing costly product inspection. These subsidies do not change product quality, but they alter the order in which consumers search by lowering inspection costs. We…

The 2022 rise in U.S. mortgage rates increased relocation costs for homeowners with low-rate mortgages. This cost varies across destinations because each draws workers from a different mix of labor markets. We build an in-migration…

Building on the $f$-information model of Bloedel et al. (2025), this paper introduces a one-parameter family of information acquisition models and characterizes optimal information acquisition. This family extends the mutual information…

Social inflation, which is the rise in liability claim costs beyond general economic inflation, has become a major concern for insurers and reinsurers, yet it is difficult to quantify because litigation outcomes are heavy-tailed and the mix…