#QJE Nov 2025, #15, “Aggregation and the Estimation of Quality Change: Application to U.S. Import Prices,” by Errico and Lashkari (@ldaniall.bsky.social): doi.org/10.1093/qje/...

Aggregation and the Estimation of Quality Change: Application to U.S. Import Prices*

Abstract. We characterize the contribution of changes in quality, price, and variety entry/exit to the aggregate price index for smooth, invertible demand

doi.org

Our paper provides a method to estimate demand elasticities and infer quality change in settings beyond the CES preferences. Applying method to US imports, we show official measures of inflation in import prices are upward biased bc they don’t account for quality improvements.

The Quarterly Journal of Economics@qjeharvard.bsky.social · 11mo ago

Recently accepted by #QJE, “Aggregation and the Estimation of Quality Change: Application to U.S. Import Prices,” by Errico and Lashkari (@ldaniall.bsky.social): doi.org/10.1093/qje/...

Jeremy Pearce and I identify a puzzling trend in US manufacturing: productivity growth has been slowing down while the sector's R&D intensity has been rising. libertystreeteconomics.newyorkfed.org/2025/01/the-...

The R&D Puzzle in U.S. Manufacturing Productivity Growth - Liberty Street Economics

A look at whether the observed slowdown in U.S. manufacturing productivity growth since 2010 is due to a decline in research and development.

libertystreeteconomics.newyorkfed.org

RA Hire Alert: I'm hiring an RA to work with me on the economics of technological growth, innovation, & AI. The position is based at MIT (FutureTech). Please spread the word: futuretech.mit.edu/opportunitie...

Hello Blue Sky :)