Wang and Wong develop a continuous-time labor-search model to assess the dynamic effects of generative AI (GenAI) on labor productivity and unemployment. The paper is motivated by conflicting …
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 …
PublishedQuarterly Journal of EconomicsOnline 11 Feb 2026Published Apr 2026
This paper develops and implements a system of disaggregated economic accounts that breaks down national accounting positions into bilateral flows between small groups of consumers, producers, the …
Online FirstReview of Economic StudiesOnline 22 May 2026
When employers face a trade-off between growing large and paying low wages — that is, when they have monopsony power — some productive employers will decide to acquire fewer customers, forgo sales, …
Online FirstJournal of Political EconomyOnline 10 Aug 2026
Abramson and Van Nieuwerburgh study Rent Guarantee Insurance (RGI), a product in which an insurer pays the landlord on behalf of a tenant who defaults on rent due to a negative income or health …
PublishedReview of Economic StudiesOnline 13 Jan 2026Published Sep 2026
How does partial capital irreversibility — arising from a wedge between the purchase price and the resale (discounted) price of capital — shape the persistence and amplitude of aggregate capital …