Hwang, Kim, and Boleslavsky study how firms in an oligopoly simultaneously choose prices and advertising strategies, where advertising is modeled as the choice of how much product information to …
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 …
PublishedJournal of Monetary EconomicsOnline 1 Apr 2026Published Apr 2026
This paper quantifies how idiosyncratic firm-level risk affects aggregate output, TFP, and firm life-cycle growth in an environment where firm productivity evolves endogenously through risky …
PublishedAmerican Economic ReviewOnline 1 Dec 2025Published Dec 2025
The paper asks three related questions in the context of Belgium, a small open economy: (1) What do firms' responses to demand shocks reveal about their cost structures? (2) What are the worker and …
PublishedJournal of Monetary EconomicsOnline 1 Mar 2026Published Mar 2026
Jo and Kim ask two related questions: (1) How do firms use different types of innovation when learning others' technology takes time? (2) How does this process alter the aggregate implications of firm …
PublishedClassicPhilosophical Transactions of the Royal Society A: Mathematical, Physical and Engineering SciencesOnline 13 Nov 2014Published Nov 2014
Written explicitly to get mathematicians interested in macroeconomics, this review collects the systems of coupled nonlinear partial differential equations that arise once a macro model tracks a whole …
PublishedReview of Economic StudiesOnline 17 Jan 2026Published Sep 2026
Donna and Espín-Sánchez investigate whether a market (sequential English auction) or a non-market institution (fixed quota) more efficiently allocates an intermediate good — irrigation water — when …
PublishedQuarterly Journal of EconomicsOnline 10 Dec 2025Published Jan 2026
This paper asks how independent (pass-through) businesses in the United States accommodate minimum wage increases — specifically whether they reduce employment, compress profits, pass costs through to …