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The International Economic Review has just published the Discussion of Discussion of “Connectivity and Selective Rural Migration” by Xiaodong Zhu. It is available through @WileyEconomics here: onlinelibrary.wiley.com/doi/10.1111/...
Discussion of “Connectivity and Selective Rural Migration”
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onlinelibrary.wiley.com
The International Economic Review has just published the Discussion of “Human Capital as a Driver of Automation: Theory and Evidence from China's College Expansion” by Zhang Chen. It is available through @WileyEconomics here: onlinelibrary.wiley.com/doi/10.1111/...
Discussion of “Human Capital as a Driver of Automation: Theory and Evidence from China's College Expansion”
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onlinelibrary.wiley.com
The International Economic Review has just published an exciting new paper by Heitor Almeida, Murillo Campello, Luciano de Castro and Antonio F. Galvao on A Quantile Model of Firm Investment. It is available through @WileyEconomics here: onlinelibrary.wiley.com/doi/10.1111/...
A Quantile Model of Firm Investment
Are firms risk averse? We propose a dynamic model of firm investment under uncertainty that captures firms' risk attitudes through quantile preferences. The firm maximizes its present value, defined ...
onlinelibrary.wiley.com
The International Economic Review has just published the Discussion of “Local Shocks and Regional Dynamics in an Aging Economy”—The Downward Elasticity of Regional Capital by Jingting Fan. It is available through @WileyEconomics here: onlinelibrary.wiley.com/doi/10.1111/....
Discussion of “Local Shocks and Regional Dynamics in an Aging Economy”—The Downward Elasticity of Regional Capital
The paper shows that population aging can reduce the welfare cost to individuals of a persistent negative local shock, because slower out-migration restrains forward-looking capital disinvestment and....
onlinelibrary.wiley.com
The International Economic Review has just published the Discussion of “Does Digitalization Widen Labor Income Inequality?” by Sichuang Xu. It is available through @WileyEconomics here: onlinelibrary.wiley.com/doi/10.1111/....
Discussion of “Does Digitalization Widen Labor Income Inequality?”
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onlinelibrary.wiley.com
The International Economic Review has just published an exciting new paper by Erick Sager and Olga A. Timoshenko on Demand Uncertainty, Selection, and Trade. It is available through @WileyEconomics here: onlinelibrary.wiley.com/doi/10.1111/...
Demand Uncertainty, Selection, and Trade
This paper examines the effect of idiosyncratic uncertainty on trade elasticities in a canonical heterogeneous-firm model. We identify two channels through which uncertainty affects elasticities: a s...
onlinelibrary.wiley.com
The International Economic Review has just published an exciting new paper by Andrea Chiavari, Marta Morazzoni and Danila Smirnov on Heterogeneous Markups Cyclicality and Monetary Policy. It is available through @WileyEconomics here: onlinelibrary.wiley.com/doi/10.1111/...
Heterogeneous Markups Cyclicality and Monetary Policy
This paper studies aggregate markup cyclicality through firm-level heterogeneity, reallocation, and aggregation. Using the U.S. firm data for 1990–2016, we find that markups are procyclical for young...
onlinelibrary.wiley.com
IER has just published an exciting new paper by Wei Yan, Hanmo Yang, Junjian Yi and Chuanchuan Zhang on Hospital Heterogeneous Responses to a Blended Payment Scheme Reform and the Distributional Consequences. It is available through @WileyEconomics here: onlinelibrary.wiley.com/doi/10.1111/...
Hospital Heterogeneous Responses to a Blended Payment Scheme Reform and the Distributional Consequences
Hospital payment schemes designed to control expenditure could also influence the medical resource allocation. We study hospital responses to the introduction of a blended payment scheme—a diagnosis-...
onlinelibrary.wiley.com
The International Economic Review has just published an exciting new paper by Shijun Gu and Lichen Zhang on The Macroeconomic Consequences of Competition for College Admissions. It is available through @WileyEconomics here: onlinelibrary.wiley.com/doi/10.1111/...
The Macroeconomic Consequences of Competition for College Admissions
To study how college-admissions competition shapes parental investment and child-development policies, we develop a heterogeneous-agent life-cycle model in which parents invest in children's human ca...
onlinelibrary.wiley.com
The International Economic Review has just published a new exciting paper by Lin Ma, Yuan Mei, Qunfeng Wu and Mingzhi (Jimmy) Xu on Connectivity and Selective Rural Migration. It is available through @WileyEconomics here: onlinelibrary.wiley.com/doi/10.1111/....
Connectivity and Selective Rural Migration
How does infrastructure shape rural development? Using household panel data from a nationally representative sample of Chinese villages, matched to high-resolution highway maps, we find that road exp....
onlinelibrary.wiley.com
The International Economic Review has just published an exciting new paper by David K. Levine, Andrea Mattozzi and Salvatore Modica on Labor Associations: The Blue Wall of Silence. It is available through @WileyEconomics here: onlinelibrary.wiley.com/doi/10.1111/...
Labor Associations: The Blue Wall of Silence
We present a model showing that when the demand for labor services is inelastic and individual behavior is imperfectly monitored, a firm's employees may prefer to protect its shirkers and conceal inf...
onlinelibrary.wiley.com
The International Economic Review has just published a new exciting paper by Jilei Huang, Yi Sun, Jian Wang and Liyan Yang on Does Digitalization Widen Labor Income Inequality?. It is available through @WileyEconomics here: onlinelibrary.wiley.com/doi/10.1111/....
Does Digitalization Widen Labor Income Inequality?
We develop a growth model that endogenizes the occupational choice of workers with different ability levels to study how digitalization affects labor income inequality. The framework incorporates dig....
onlinelibrary.wiley.com
The International Economic Review has just published a new exciting paper by Yuta Suzuki on Local Shocks and Regional Dynamics in an Aging Economy. It is available through @WileyEconomics here: onlinelibrary.wiley.com/doi/10.1111/....
Local Shocks and Regional Dynamics in an Aging Economy
This paper studies how population aging shapes regional adjustment to local shocks. I develop a dynamic spatial general equilibrium model that incorporates aggregate demographic change, life-cycle va...
onlinelibrary.wiley.com
The International Economic Review has just published a new exciting paper by Xican Xi and Anson Zhou on The Dynamics of Gender Norms and Fertility Decline. It is available through @WileyEconomics here: onlinelibrary.wiley.com/doi/10.1111/...
onlinelibrary.wiley.com
The International Economic Review has just published an exciting new paper by Christian Glocker and Thomas Url on Climate Change and Economic Dynamics: Temperature-Dependent Shock Propagation. It is available through @WileyEconomics here: onlinelibrary.wiley.com/doi/10.1111/...
Climate Change and Economic Dynamics: Temperature‐Dependent Shock Propagation
The gradual rise in temperatures motivates conceptualizing climate change as a phenomenon shaping the propagation of macroeconomic shocks, rather than as an independent shock. We formalize this in a ...
onlinelibrary.wiley.com
The International Economic Review has just published an exciting new paper by Yusuke Adachi on Measuring the Stringency of Building Height Regulations. It is available through @WileyEconomics here: doi.org/10.1111/iere...
Measuring the Stringency of Building Height Regulations
This study proposes a novel methodology to measure the stringency of building height regulations. This measure gauges the difference in building heights with and without regulations. The primary chal...
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The International Economic Review has just published an exciting new paper by James Harrigan, Ariell Reshef and Farid Toubal on Techies and Firm-Level Productivity. It is available through @WileyEconomics here: onlinelibrary.wiley.com/doi/10.1111/...
Techies and Firm‐Level Productivity
We study the impact of techies—engineers and other technically trained workers—on firm-level productivity. We first report new facts on techies in the firm using French administrative data. Techies a...
onlinelibrary.wiley.com
The International Economic Review has just published an exciting new paper by Florian Huber, Massimiliano Marcellino and Tommaso Tornese on The Distributional Effects of Economic Uncertainty. It is available through @WileyEconomics here: onlinelibrary.wiley.com/doi/10.1111/...
The Distributional Effects of Economic Uncertainty*
We study the distributional implications of uncertainty shocks by developing a model that links macroeconomic aggregates to the US distribution of earnings and consumption. Our findings suggest that ....
onlinelibrary.wiley.com
The International Economic Review has just published an exciting new paper by Lin Shao, Faisal Sohail and Emircan Yurdagul on Labor Supply and Firm Size. It is available through @WileyEconomics here: onlinelibrary.wiley.com/doi/10.1111/...
Labor Supply and Firm Size
Larger firms feature (i) longer hours worked, (ii) higher wages, and (iii) smaller (larger) wage penalties for working long (short) hours. We reconcile these patterns in a general equilibrium model, ...
onlinelibrary.wiley.com
The IER has just published its 3rd issue of 2026 with many exciting papers. Check them all out here: onlinelibrary.wiley.com/toc/14682354...
International Economic Review: Vol 67, No 3
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onlinelibrary.wiley.com
The International Economic Review has just published a new exciting paper by Min Fang, Zibin Huang, Yushi Wang and Yu (Alan) Yang on Sex and the City: Demographics, Spatial Sorting, and the Marriage Market. It is available through @WileyEconomics here: onlinelibrary.wiley.com/doi/epub/10....
onlinelibrary.wiley.com
The International Economic Review has just published an exciting new paper by Orkun Saka, Yuemei Ji and Clement Minaudieron Political Accountability During Crises: Evidence From 40 Years of Financial Policies. It is available through @WileyEconomics here: onlinelibrary.wiley.com/doi/10.1111/...
Political Accountability During Crises: Evidence From 40 Years of Financial Policies
We show that politicians facing a binding term limit are more likely to engage in financial deliberalization than those facing reelection, but only in the wake of a financial crisis. In particular, t...
onlinelibrary.wiley.com
The International Economic Review has just published an exciting new paper by Jingyuan Li, Richard Peter and Lin Zhou on Cross-Prudence and Optimal Prevention. It is available through @WileyEconomics here: onlinelibrary.wiley.com/doi/10.1111/...
Cross‐Prudence and Optimal Prevention
In this paper, we study optimal prevention in the presence of a correlated nonfinancial background risk. Under positive correlation, cross-prudence in the nonfinancial attribute reduces optimal preve....
onlinelibrary.wiley.com
The International Economic Review has just published an exciting new paper by Bruno Delalibera, Pedro Cavalcanti Ferreira and Rafael Machado Parente on Social Security Reforms, Retirement, and Sectoral Decisions. Is available through @WileyEconomics here: onlinelibrary.wiley.com/doi/10.1111/...
Social Security Reforms, Retirement, and Sectoral Decisions
We study social security reforms in economies with segmented labor markets and pension systems. We develop a life-cycle general equilibrium model with heterogeneous agents and endogenous retirement a....
onlinelibrary.wiley.com
The International Economic Review has just published an exciting new paper by Borağan Aruoba, Ronel Elul and Şebnem Kalemli-Özcan on Housing Wealth and Consumption: The Role of Heterogeneous Credit Constraints. It is available through @WileyEconomics here: onlinelibrary.wiley.com/doi/10.1111/...
Housing Wealth and Consumption: The Role of Heterogeneous Credit Constraints
We quantify the role of heterogeneity in households' financial constraints in explaining the link between the decline in aggregate consumption and the decline in house values between 2006 and 2009 us...
onlinelibrary.wiley.com
The International Economic Review has just published an exciting new paper by Huoqing Cao, Chaoran Chen and Xican Xi on Home Production and Gender Gap in Structural Change. It is available through @WileyEconomics here: onlinelibrary.wiley.com/doi/10.1111/...
Home Production and Gender Gap in Structural Change
The gender gap in non-agricultural employment in developing countries is concentrated among rural married workers. Within-family specialization is central: Married women spend more time on home produ...
onlinelibrary.wiley.com
The International Economic Review has just published an exciting new paper by Mark Gradstein and Luigi Ventura on Social Status, Inequality, and Redistribution. It is available through @WileyEconomics here: onlinelibrary.wiley.com/doi/10.1111/...
Social Status, Inequality, and Redistribution
We explore implications of social status concerns for redistribution, income inequality, and growth in a political economy framework. Salience of such concerns leads to a propagation mechanism, where...
onlinelibrary.wiley.com
The International Economic Review has just published a new exciting paper by Toshihiko Mukoyama and Gang Zhang on Entrepreneurship and Financial Deregulation. It is available through @WileyEconomics here: onlinelibrary.wiley.com/doi/10.1111/...
Entrepreneurship and Financial Deregulation
We quantitatively analyze the impact of US banking deregulation in the 1980s on the aggregate economy. Using recent econometric techniques, we first reexamine existing empirical evidence on the real ...
onlinelibrary.wiley.com
The International Economic Review has just published a new exciting paper by Kyle Bagwell and Seung Hoon Lee on Entry and Welfare in General Equilibrium With Heterogeneous Firms and Endogenous Markups. It is available through @WileyEconomics here: onlinelibrary.wiley.com/doi/10.1111/...
Entry and Welfare in General Equilibrium With Heterogeneous Firms and Endogenous Markups
We analyze market entry efficiency in single- and two-sector closed-economy Melitz–Ottaviano (MO) models without an outside good. Comparing market and second-best outcomes, we find that market entry ...
onlinelibrary.wiley.com
The International Economic Review has just published a new exciting paper by Luis Araujo and Antonio Doblas-Madrid on Rational Expectations Fools' Bubbles. It is available through @WileyEconomics here: onlinelibrary.wiley.com/doi/10.1111/...
Rational Expectations Fools' Bubbles
We develop a rational, Walrasian model of speculative bubbles inspired by the Kindleberger–Minsky view, which describes bubbles as wave-like market processes. Touched off by an initial shock, price b...
onlinelibrary.wiley.com