Bordalo, Gennaioli, Lanzani, and Shleifer develop a cognitive theory of choice in which a decision maker's attention to the features of options is determined by her categorization of the current …
PublishedJournal of Monetary EconomicsOnline 1 Jul 2026Published Jul 2026
This paper investigates the economics of monetary policy leaks — anonymous disclosures of confidential information by insiders to the media — focusing on three central questions: (1) Are leaks random …
PublishedJournal of Monetary EconomicsPublished Jun 2026
This paper asks how rising returns to scale in production contributed to three concurrent U.S. secular trends since 1980: declining business dynamism, rising markups, and growing firm expenditures on …
This paper asks how an agent who fears that none of their probabilistic models is the correct description of the data-generating process (DGP) should update that fear as evidence accumulates, and what …
Online FirstJournal of Political EconomyOnline 13 Aug 2026
This paper studies a dynamic mechanism design problem in which an informed seller sells an experience good to a skeptical buyer who learns about the product through consumption. The central question …
This paper investigates how the ideological alignment between knowledge-disseminating institutions and policymakers affects the adoption of evidence-based policies. The core research question is …
Online FirstReview of Economic StudiesOnline 17 Jun 2026
This paper asks what market outcomes an information designer — modeled as an internet platform that knows consumers' preferences — can achieve by choosing what information to disclose to competing …
Online FirstQuarterly Journal of EconomicsOnline 25 Jul 2026
Using tailored surveys of more than 11,000 US and German households, retail investors, financial professionals, and academic experts, the paper documents the "mental models" people use when reasoning …
Online FirstJournal of Money, Credit and BankingOnline 23 Oct 2025
Analyzing panel data from the U.S. Survey of Professional Forecasters (SPF, 1992Q1–2019Q4, 77 forecasters, 1,520 forecaster-quarter observations), Julio Ortiz finds that a "misspecified expectations" …
Online FirstJournal of Political EconomyOnline 15 Jun 2026
Acemoglu, Huttenlocher, Ozdaglar, and Siderius develop a two-sided platform model to study the welfare consequences of digital advertising as an online business model. The platform intermediates …
Online FirstReview of Economic StudiesOnline 15 Jun 2026
This paper develops a general nonparametric model of discrete choice in which peers influence agents through two distinct channels: (1) the set of alternatives an agent considers (consideration set …
Bergemann, Heumann, and Wang study consumer surplus when a monopolist simultaneously engages in second-degree price discrimination (screening consumers within each market segment through …
Online FirstJournal of Political EconomyOnline 22 Sep 2026
This paper examines how two types of communication about a minority group affect discriminatory behavior: (i) horizontal communication between majority-group members, and (ii) top-down communication …
PublishedJournal of Monetary EconomicsOnline 1 Jan 2026Published Jan 2026
Why did the 2021–2023 US inflation surge end in a soft landing — disinflation without a major recession — while the Volcker disinflation of 1979–1987 required substantial output losses? And was the …
Online FirstJournal of Political EconomyOnline 31 Aug 2026
Survey forecasts depart from rational expectations in ways that look contradictory: consensus forecasts under-react to news, individual forecasts of macroeconomic variables tend to over-react, and …
PublishedJournal of Monetary EconomicsOnline 1 Apr 2026Published Apr 2026
This paper develops a Mortensen-Pissarides (DMP) search and matching model with internally rational (IR) agents who hold subjective beliefs about wages rather than perfect knowledge of the Nash …
PublishedReview of Economic StudiesOnline 18 Oct 2025Published Jul 2026
Using sales and leasing transaction records for the Greater Toronto Area (2006–2018), this paper finds three novel effects of a higher property transaction tax: higher buy-to-rent transactions …
PublishedReview of Economic StudiesOnline 1 Oct 2025Published Jul 2026
This paper studies how salary benchmarking tools — products that reveal aggregate market pay statistics for specific job titles — affect employee compensation. The research question is whether firms' …