经济学
Pixels and market cycles both move NFT prices. Non-fungible tokens (NFTs) are unique digital assets, often used to represent ownership of digital art, collectibles, and other media, secured on blockchain networks like Ethereum. The rise of…
The past 20 years have brought fundamental advances in modeling unobserved heterogeneity in panel data. Interactive Fixed Effects (IFE) proved to be a foundational framework, generalizing the standard one-way and two-way fixed effects…
This paper provides a new theoretical lens for understanding the finite-sample performance of kernel-based specification tests, such as the Kernel Conditional Moment (KCM) test. Rather than introducing a fundamentally new test, we isolate…
Many of the world's renewable resources are in decline. Optimal harvests with smooth recruitment is well studied but in recent years, ecologists have concluded that tipping points in recruitment are common. Recruitment with a tipping point…
Surging demand for graphite in energy storage applications has led to concerns about supply chai security for manufacturers and nations globally. Currently, China produces over 92% of graphite for anodes, posing a risk for industries…
We explore a broad class of values for cooperative games in characteristic function form, known as \emph{compromise values\/}. These values efficiently allocate payoffs by linearly combining well-specified upper and lower bounds on payoffs.…
We analyze the problem of locating a public facility on a line in a society where agents have either single-peaked or single-dipped preferences. We consider the domain analyzed in Alcalde-Unzu et al. (2024), where the type of preference of…
We investigate the effectiveness of low-carbon expenditures from the European Structural and Investment Funds in reducing greenhouse gas emissions across EU regions. Using trend and cycle decomposition of per capita emissions and emissions…
We consider structural vector autoregressions that are identified through stochastic volatility under Bayesian estimation. Three contributions emerge from our exercise. First, we show that a non-centred parameterization of stochastic…
This paper proposes a general framework for inference on three types of almost dominances: almost Lorenz dominance, almost inverse stochastic dominance, and almost stochastic dominance. We first generalize almost Lorenz dominance to almost…
We study a two-player model of conflict with multiple battlefields -- the novel element is that each of the players has their own network of spillovers so that resources allocated to one battle can be utilized in winning neighboring…
We estimate the dynamic distributional effects of financial shocks in the Euro Area using survey-based microdata on personal incomes. We find that positive financial shocks increase inequality, with heterogeneity across different income…
Do industrial "superstars" help others up or crowd them out? We examine the relationship between the spillovers of superstar firms (those with the top market share in their industry) and the productivity dynamics in Indonesia. Employing…
Despite the importance of this variable in the macroeconomic context, current research on job insecurity remains mainly confined to its non-systemic dimension. The research aim of this paper is to identify the short-run and long-run…
We forecast the full conditional distribution of macroeconomic outcomes by systematically integrating three key principles: using high-dimensional data with appropriate regularization, adopting rigorous out-of-sample validation procedures,…
This paper investigates the trade-off that households in agrarian economies face between immediate production needs and long-term human capital investment. We ask how exogenous agricultural productivity shocks affect primary and secondary…
This paper proposes a new method for estimating conditional average treatment effects (CATE) in randomized experiments. We adopt inverse probability weighting (IPW) for identification; however, IPW-transformed outcomes are known to be…
This paper explores the influence of inheritance rights on women' empowerment in India. We employ the quasi-natural experiment framework wherein; five states amended the Hindu Succession Act (HSA) from 1976 to 1994 before it was federally…
Innovation is becoming ever more pivotal to national development strategies but measuring and comparing innovation performance across nations is still a methodological challenges. This research devises a new time-series similarity method…
This paper introduces a tractable model to study incentive-compatible homophily under both external environments--such as exogenous shocks or policy constraints--and internal micromotives based on interactive attributes. We propose a set of…