经济学
We study how to optimally segment monopolistic markets with a redistributive objective. We characterize optimal redistributive segmentations and show that they (i) induce the seller to price progressively, i.e., charge richer consumers…
We give an order-explicit large deviation bound for the difference between a high-dimensional $U$-statistic and its H\'{a}jek projection. In particular, we show that any $U$-statistic of order $b$ on $n$ observations, with a $d$-dimensional…
We show, using three empirical applications, that linear regression estimates predicated on the assumption of sparsity are fragile in two ways. First, we document that different choices of the regressor matrix which do not impact ordinary…
Estimating a continuous functional $F: \X \to \R$ involves specifying $L_n^d$ nodes on $\X \subset \R^d$ for estimation and uniform inference. While asymptotically valid inference requires $L_n$ to increase with $n$, existing fixed-$L$…
In traditional rural societies, where social ties are embedded in physical space, the diffusion of emerging technologies may be amplified through socio-spatial contagion (SSC). Such processes may play a key role in accelerating residential…
This article develops a significance test for the Difference-in-Differences (DiD) estimator based on dual-margin randomization, in which both the treatment and time indicators are independently permuted to generate an empirical null…
Volatility estimation is a central problem in financial econometrics, but becomes particularly challenging when jump activity is high, a phenomenon observed empirically in highly traded financial securities. In this paper, we revisit the…
Accurate forecasting of exchange rates remains a persistent challenge, particularly for emerging economies such as Brazil, Russia, India, and China (BRIC). These series exhibit long memory and nonlinearity that conventional time series…
Do high-return fields of study provide greater protection in labor market during crises? I construct pre-pandemic premia for major technical fields in India and examine whether workers in higher field-premium fields experience resilient…
How does one test empirically the hypothesis that a decision maker (DM) is being influenced by information via Bayesian persuasion? In this paper, I consider a DM whose state-dependent preferences are known to an analyst, who sees the…
We introduce Coarse Q-learning (CQL), a reinforcement-learning model for bandit problems with stochastically varying menus. Alternatives are exogenously partitioned into similarity classes, and feedback from sampled alternatives is pooled…
Structural change consists of industrial diversification towards more productive, knowledge intensive activities. However, changes in the productive structure bear inherent links with job creation and income distribution. In this paper, we…
Recent empirical evidence shows that investments in ICT disproportionately improve the performance of larger firms versus smaller ones. However, ICT may not be all alike, as they differ in their impact on firms' organisational structure. We…
We compute the lattice operations for the (pairwise) stable set in many-to-many matching markets when only path-independence on agents' choice functions is imposed. To do this, we first show that the sets of firm-quasi-stable and…
We study a dynamic game where an expert sends probabilistic forecasts to a decision-maker. The decision-maker verifies these forecasts using a calibration test based on past data. How should the expert send forecasts to maximize her payoff…
We study treatment-effect estimation using panel data. The treatment may be non-binary, non-absorbing, and the outcome may be affected by treatment lags. We make a parallel-trends assumption, and propose event-study estimators of the effect…
We construct moment functions that are Neyman-orthogonal to a chosen order in parametric moment condition models. These moment functions reduce sensitivity to nuisance estimation error and, as such, offer a unified and tractable route to…
Recent advances in generative artificial intelligence (AI) are reshaping who enters entrepreneurship, but not who reaches the top of the quality distribution. Using data on over 160,000 product launches on Product Hunt, we find that…
In this paper, we use tools from network theory to trace the properties of the matching function to the structure of granular connections between applicants and vacancies. We unify seemingly disparate parts of the literature by recovering…
Needless to say, linear dynamics are pervasive in economic time series, particularly autoregressive ones. While gradient boosting with trees excels at capturing nonlinearities, it is inefficient in small samples when much of the predictive…