经济学
Evaluating the economic impacts of climate policies is important for designing a response to climate change. One typical approach to assessing mitigation policy options uses integrated climate-economy models to analyze tradeoffs between the…
Researchers often conduct inference on weighted estimands, defined as weighted averages of group-level effects. Example settings include event studies with cohort-level effects and experiments with site-level effects. Under heterogeneous…
Existing literature offers persuasive evidence that individuals care about how their consumption compares to that of peers, and proposes a large variety of explanatory models. The present paper proposes a common framework for many of those…
This paper studies how organizations should jointly design evaluation rules and assign workers when performance depends on both effort and non-discretionary advantage. Agents choose effort in positions linked by a competition network, while…
We analyze how four forces restructure the AI industry over 2026-2030: the DRAM/HBM price surge, frontier-capable open-weight models (GLM-5.2), rapid inference-efficiency gains (near-Shannon-limit KV-cache compression, lightweight local…
We estimate the gradient of the Marginal Propensity to Consume (MPC) with respect to liquidity using a new estimator designed for administrative data with negligible measurement error in income. We derive a state-dependent consumption…
U.S. life expectancy stagnated and declined in the 2010s despite continued growth in real per capita income. We use Preston curves to characterize this pattern as a change in the relationship between income and longevity. Using state-level…
This study proposes a formal, computationally efficient nonparametric omnibus test for treatment-effect heterogeneity that is compatible with a broad class of estimators, including modern machine-learning methods. The test is designed for…
This paper develops the asymptotic theory for high-dimensional panel data regressions in settings with cross-sectionally dependent errors driven by common shocks. We consider a factor-augmented sparse-group LASSO estimator that combines…
We characterize correlated equilibrium in finite normal-form games. Interpreting correlated strategies as action recommendations, we show that correlated equilibrium is the unique solution concept that never recommends a pure-strategy…
Real social and economic networks involve individuals with diverse incentives, yet most studies of network games assume homogeneous preferences or few player types. We introduce a general framework for binary choice network games with fully…
Macroeconomic forecasts refer to outcomes that are first released and then revised. A 90 percent interval for the first GDP release, a six-month value, or a latest-value benchmark is not the same uncertainty statement. We ask how revision…
This paper evaluates stabilization scenarios for Bolivia under external-financing stress by jointly modeling financial sustainability, verifiable social sustainability and the net additionality of multilateral financing. The main correction…
Integrated urban models (IUM) typically rely on a measure of accessibility or travel time to form the link between the transportation and land use systems. Such integration does not fully capture the trade-offs made by households in how…
Widely held views can go unspoken when speaking out alone invites retaliation. I recast such silence as a problem of safe coalition formation. When safety comes in numbers, there is a largest group that could speak safely. Open organizing…
This paper uses the generalized Cass criterion $\sum^{\infty}_{t=1}(\Vert p_{t}\Vert\sum_{h\in G_{t}}\Vert e^{h}_{t}\Vert)^{-1}=\infty$ to extend the results from Dognini (2026) regarding the existence of efficient monetary equilibria on…
This paper proposes to project and expand the conditional mean function of the structural error given the regressors in an endogenous regression under consideration. As the projection process is semiparametric, we define this procedure as a…
Standard stochastic choice models used to estimate risk aversion can lead to risk-aversion reversals, where a more risk-averse individual chooses a riskier lottery more frequently than a less risk-averse individual. We study when reversals…
A representative democracy is immune to gerrymandering if it satisfies Chambers' (2008) representative consistency. We examine preference aggregation and show that representative consistency is mutually inconsistent with three other…
On a large French ridesharing platform, new minority drivers earn 11.6% less revenue than otherwise similar nonminority drivers; the gap nearly vanishes as they accumulate reviews. Reviews drive the convergence: when a railway strike…