We checked 17 economics journals on Friday, January 24, 2025 using the Crossref API. For the period January 17 to January 23, we retrieved 29 new paper(s) in 7 journal(s).

Economic Journal

Destructive Behaviour, Judgement, and Economic Decision-making under Thermal Stress
Ingvild AlmÄs, Maximilian Auffhammer, Tessa Bold, Ian Bolliger, Aluma Dembo, Solomon M Hsiang, Shuhei Kitamura, Edward Miguel, Robert Pickmans
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Accumulating evidence indicates that environmental temperature substantially affects economic outcomes and violence, but the reasons for this linkage are only partially understood. We study whether temperature directly influences behaviour by evaluating the effect of thermal stress on multiple dimensions of economic decision-making, judgement, and destructive behaviour with 2,000 participants in Kenya and the US who were randomly assigned to different temperatures in a laboratory. The main finding is that most major dimensions of economic decision-making are unaffected by temperature. We also find that heat significantly increases willingness to voluntarily destroy other participants’ assets in the Kenyan sample.
Fighting for Lemons: The Balancing Effect of Private Information on Incentives in Dynamic Contests
Marc Möller
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In a common value environment with multi-stage competition, losing a stage conveys positive news about a rival’s estimation of a contested prize, capable of balancing the discouraging effect of falling behind. We show that, due to players’ learning from stage-outcomes, aggregate incentives under private information are often greater than under public information and may even exceed the static competition benchmark. Moreover, laggards can become more motivated than leaders, giving rise to long-lasting fights. Our results have implications for the duration of R&D races, the desirability of feedback in labor- and procurement-contests, and the campaign spending and selective efficiency of presidential primaries.

European Economic Review

The dynamics of automation adoption: Firm-level heterogeneity and aggregate employment effects
Laura Bisio, Angelo Cuzzola, Marco Grazzi, Daniele Moschella
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Strategic parental investments in a competitive marriage market
V. Bhaskar, Wenchao Li, Junjian Yi
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Journal of Econometrics

BUMVU estimators
Aleksey Kolokolov, Roberto RenĂČ, Patrick Zoi
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Journal of Political Economy

Panics and Early Warnings
Deepal Basak, Zhen Zhou
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Optimal Fiscal Policy With Heterogeneous Agents and Capital: Should We Increase or Decrease Public Debt and Capital Taxes?
François Le Grand, Xavier Ragot
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The Welfare Effects of Gender-Inclusive Intellectual Property Creation: Evidence from Books
Joel Waldfogel
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Asymmetric Information Sharing in Oligopoly: A Natural Experiment in Retail Gasoline
David P. Byrne, Nicolas de Roos, Matthew S. Lewis, Leslie M. Marx, Xiaosong Wu
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Policy Experimentation in China: The Political Economy of Policy Learning
Shaoda Wang, David Yang
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Inattentive Economies
George-Marios Angeletos, Karthik Sastry
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More Laws, More Growth? Evidence from U.S. States
Elliott Ash, Massimo Morelli, Matia Vannoni
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The Effect of Gender Discrimination on Labor Supply
Nickolas Gagnon, Kristof Bosmans, Arno Riedl
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Dissecting Mechanisms of Financial Crises: Intermediation and Sentiment
Arvind Krishnamurthy, Wenhao Li
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Financial Product Design in Decentralized Markets
Marzena Rostek, Ji Hee Yoon
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Journal of Public Economics

How do business owners respond to a tax cut? Examining the 199A deduction for pass-through firms
Lucas Goodman, Katherine Lim, Bruce Sacerdote, Andrew Whitten
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Parents’ effective time endowment and divorce: Evidence from extended school days
MarĂ­a Padilla-Romo, Cecilia Peluffo, Mariana Viollaz
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The Intergenerational Health Effects of Forced Displacement: Japanese American Incarceration during WWII
Daniel Grossman, Umair Khalil, Laura Panza
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The psychological gains from COVID-19 vaccination
Manuel Bagues, Velichka Dimitrova
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Reducing child marriages through CCTs: Evidence from a large-scale policy intervention in Indonesia
Jan Priebe, Sudarno Sumarto
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The environmental costs of political interference: Evidence from power plants in the Amazon
Francisco Costa, Dimitri Szerman, Juliano Assunção
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Quantifying misallocation of public housing
Jennifer Buurma-Olsen, Hans R.A. Kost, Jos van Ommeren, Jort Sinninghe Damsté
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Journal of the European Economic Association

Chain Restaurant Calorie Posting Laws, Obesity, and Consumer Welfare
Charles Courtemanche, David Frisvold, David Jimenez-Gomez, Mariétou H Ouayogodé, Michael K Price
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This paper investigates whether and why laws requiring chain restaurants to post calories on menus and menu boards work. We develop a model of calories consumed that highlights multiple potential channels through which these laws influence choice and that outlines an empirical strategy to disentangle these alternatives. We test the predictions of our model using data from the Behavioral Risk Factor Surveillance System on body mass index (BMI) and consumer well-being, as well as our own surveys on how the law influences where people eat and how randomized exposure to calorie information affects feelings towards menu items. Viewed in its totality, our results are consistent with an economic model in which calorie labels influence consumers both by providing salient information and by imposing a welfare-reducing moral cost (or feelings of guilt) on unhealthy eating.
Information Nudges, Subsidies, and Crowding out of Attention: Field Evidence from Energy Efficiency Investments
Matthias Rodemeier, Andreas Löschel
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How can information substitute or complement financial incentives such as Pigouvian subsidies? We answer this question in a large-scale field experiment that cross-randomizes energy efficiency subsidies with information about the financial savings of LED lighting. Information has two effects: It shifts and rotates demand curves. The direction of the shift is ambiguous and highly dependent on the information design. Informing consumers that an LED saves 90% in annual energy costs increases LED demand, but showing them that 90% corresponds to an average of €11 raises demand for less efficient technologies. The rotation of the demand curve is unambiguous: information dramatically reduces both own-price and cross-price elasticities, which makes subsidies less effective. The uniform decrease in price elasticities suggests that consumers pay less attention to subsidies when information is provided. We structurally estimate that welfare-maximizing subsidies can be 200% larger than the Pigouvian benchmark when combined with information.
Revisiting Productivity Dynamics in Europe: A New Measure of Utilization-Adjusted TFP Growth
Diego Comin, Javier Quintana, Tom Schmitz, Antonella Trigari
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We compute new estimates of Total Factor Productivity (TFP) growth in the five largest European economies. Our estimates account for positive profits and use firm surveys to proxy for unobserved changes in factor utilization. These novelties have a major impact: our estimated TFP growth series are substantially less volatile and less cyclical than the ones obtained with standard methods. Based on our approach, we provide annual industry-level and aggregate TFP series, as well as the first estimates of profit and utilization-adjusted quarterly TFP growth in Europe/
The Effect of Asset Encumbrance on Bank Behavior: Evidence from the Introduction of Covered Bonds in Norway
Jin Cao, Ragnar E Juelsrud, Talina Sondershaus
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We use the introduction of covered bonds in Norway in 2007 together with administrative and supervisory data at the bank and loan level to investigate the effect of asset encumbrance, i.e. pledging assets as collateral, on the composition of bank balance sheets and bank risk. We show that covered bonds – despite being collateralized with mortgages – lead to a shift in bank lending from mortgages to corporate loans. The marginal corporate borrower is young and low-rated, suggesting that overall credit risk increases. At the same time, we find that balance sheet liquidity increases. Overall, the beneficial effects of increased liquidity on bank risk outweighs any negative effects of increased credit risk, ultimately reducing risk premia on total and unsecured funding. The effects are driven by banks with initially low net holdings of liquid assets and low firm credit risk in their lending portfolios.

The Quarterly Journal of Economics

“Something Works” in U.S. Jails: Misconduct and Recidivism Effects of the IGNITE Program
Marcella Alsan, Arkey Barnett, Peter Hull, Crystal S Yang
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A longstanding and influential view in U.S. correctional policy is that “nothing works” when it comes to rehabilitating incarcerated individuals. We revisit this hypothesis by studying an innovative law-enforcement-led program launched in the county jail of Flint, Michigan: Inmate Growth Naturally and Intentionally Through Education (IGNITE). We develop an instrumental variable approach to estimate the effects of IGNITE exposure, leveraging quasi-random court delays that cause individuals to spend more time in jail both before and after the program’s launch. Holding time in jail fixed, we find that one additional month of IGNITE exposure reduces weekly misconduct within jail by 25% and three-month recidivism by 24%, with the recidivism effects growing over time. Surveys of staff and community members, along with administrative test score records and within-jail text messages, suggest that cultural change and improved literacy and numeracy scores are contributing mechanisms.
The Diffusion of New Technologies
Aakash Kalyani, Nicholas Bloom, Marcela Carvalho, Tarek Hassan, Josh Lerner, Ahmed Tahoun
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We identify phrases associated with novel technologies using textual analysis of patents, job postings, and earnings calls, enabling us to identify four stylized facts on the diffusion of jobs relating to new technologies. First, the development of economically impactful new technologies is geographically highly concentrated, more so even than overall patenting: 56% of the most economically impactful technologies come from just two U.S. locations, Silicon Valley and the Northeast Corridor. Second, as the technologies mature and the number of related jobs grows, hiring spreads geographically. But this process is very slow, taking around 50 years to disperse fully. Third, while initial hiring in new technologies is highly skill biased, over time the mean skill level in new positions declines, drawing in an increasing number of lower-skilled workers. Finally, the geographic spread of hiring is slowest for higher-skilled positions, with the locations where new technologies were pioneered remaining the focus for the technology's high-skill jobs for decades.
Exploitation Through Racialization
Dan McGee
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I develop a model of the social construction of race. Racial categories emerge from labour conflict when elites privilege intrinsically irrelevant traits to divide workers against each other and extract workers’ surplus. I show that elites use colour to grant unequal rights and track these rights across generations because it is heritable, observable, and relatively immutable. Depending on the demographic conditions the elites face, the system of racialization manifests either as ‘ancestry-based’ or ‘colour-based’ categories. This approach to the social construction of race provides a unified explanation of skin tone inequality, racial homophily in marriage, the social status of mixed-race people, the ‘psychological wage’ of Jim Crow, and legal restrictions on manumission. I test for historical variations in racial boundaries using census data from the United States and Brazil and for differential patterns of skin tone inequality between ancestry-based and colour-based systems using survey data from across the Americas.