Accepted Papers

The Review of Economic Studies is one of the most highly respected academic journals in the field of economics. It is known for publishing leading research in all areas of economics, from microeconomics to macroeconomics. The journal is published by the Oxford University Press.

View published articles on Oxford University Press

New

Pareto Improvements in the Contest for College Admissions

Kala Krishna, Sergey Lychagin, Wojciech Olszewski, Ron Siegel, and Chloe Tergiman

Many countries base college admissions on a centrally-administered test. Students invest a great deal of resources to improve their performance on the test, and there is growing concern about the high costs associated with these activities. We consider modifying the test by introducing performance-disclosure policies that pool intervals of performance rankings. Pooling affects the equilibrium allocation of students to colleges, which hurts some students and benefits others, but also affects students’ effort.

New

How Important Is Health Inequality for Lifetime Earnings Inequality?

Roozbeh Hosseini, Karen Kopecky, and Kai Zhao

Using a dynamic panel approach, we provide empirical evidence that negative health shocks significantly reduce earnings. The effect is primarily driven by the participation margin and is concentrated among the less educated and those in poor health. Next, we develop a life cycle model of labor supply featuring risky and heterogeneous frailty profiles that affect individuals’ productivity, likelihood of access to social insurance, disutility from work, mortality, and medical expenses.

New

Efficient Conservation of the Brazilian Amazon: Estimates from a Dynamic Model

Rafael Araujo, Francisco Costa, and Marcelo Sant'Anna

This paper estimates the Brazilian Amazon’s carbon-efficient forest cover – i.e. when farmers internalize the social cost of carbon. We propose a dynamic discrete choice land-use model and estimate it using a panel of land use and carbon stock of 5.7 billion pixels between 2008 and 2017. The business-as-usual scenario implies an inefficient release of 42 billion tons of CO2 in the long run resulting from the deforestation of an area twice the size of France.

New

Barriers to Entry and Regional Economic Growth in China

Loren Brandt, Gueorgui Kambourov, and Kjetil Storesletten

Labor productivity in manufacturing differs starkly across regions in China. We document that productivity, wages, and start-up rates of non-state firms have nevertheless experienced rapid unconditional regional convergence after 1995. To analyze these patterns, we construct a Hopenhayn (1992) model that incorporates location-specific capital wedges, output wedges, and entry barriers. Using Chinese Industry Census data we estimate these wedges and examine their role in explaining differences in performance and growth across prefectures.

New

Retractions: Updating from Complex Information

Duarte Gonçalves, Jonathan Libgober, and Jack Willis

We modify a canonical experimental design to identify the effectiveness of retractions. Comparing beliefs after retractions to beliefs (a) without the retracted information and (b) after equivalent new information, we find that retractions result in diminished belief updating in both cases. We propose this reflects updating from retractions being more complex, and our analysis supports this: we find longer response times, lower accuracy, and higher variability.

New

Attention Utility: Evidence From Individual Investors

Edika Quispe–Torreblanca, John Gathergood, George Loewenstein, and Neil Stewart

We study attention utility, the hedonic pleasure or pain derived purely from paying attention to information, which differs from the news utility that arises from gaining new information. The main, field, study examines brokerage account login data to show that investors pay disproportionate attention to already-known positive information on their stocks. Through its effect on logins, this selective attention affects their trading activity.

New

Trauma at School: The Impacts of Shootings on Students’ Human Capital and Economic Outcomes

Marika Cabral, Bokyung Kim, Maya Rossin-Slater, Molly Schnell, and Hannes Schwandt

We examine how shootings at schools—an increasingly common form of gun violence in the United States—impact the educational and economic trajectories of students. Using linked schooling and labor market data in Texas from 1992 to 2018, we compare within-student and across-cohort changes in outcomes following a shooting to those experienced by students at matched control schools. We find that school shootings increase absenteeism and grade repetition; reduce high school graduation, college enrollment, and college completion; and reduce employment and earnings at ages 24–26.

New

Creating Cohesive Communities: A Youth Camp Experiment in India

Arkadev Ghosh, Prerna Kundu, Matt Lowe, and Gareth Nellis

Non-family-based institutions for socializing young people may play a vital role in creating close-knit, inclusive communities. We study the potential for youth camps—integrating rituals, sports, and civics training—to strengthen intergroup cohesion. We randomly assigned Hindu and Muslim adolescent boys, from West Bengal, India, to two-week camps or to a pure control arm. To isolate mechanisms, we cross-randomized collective rituals (such as singing the national anthem, wearing uniforms, chanting support during matches, and synchronous dancing) and the intensity of intergroup contact.

Follow us

The Review of Economic Studies Follow

The official account of the Review of Economic Studies, one of the world's top economics journals.

RevEconStudies
Retweet on Twitter The Review of Economic Studies Retweeted

“Don’t fear trade... We should not be afraid of engaging in international trade because it creates new opportunities and workers can – and do – take those opportunities.” Article on a new paper in @RevEconStudies.

Reply on Twitter 1885412070168158546 Retweet on Twitter 1885412070168158546 2 Like on Twitter 1885412070168158546 5 Twitter 1885412070168158546

Recently accepted to #REStud, "“Bid Shopping” in Procurement Auctions with Subcontracting" from Deneckere and Quint:

https://www.restud.com/bid-shopping-in-procurement-auctions-with-subcontracting/

Reply on Twitter 1885445305430114474 Retweet on Twitter 1885445305430114474 12 Like on Twitter 1885445305430114474 24 Twitter 1885445305430114474

"Optimal risk-sharing and distress resolution drive cash flow-based financing. Firms use secured debt, unsecured credit lines, and equity, with bankruptcy procedures boosting financing capacity."

New paper from Hartman-Glaser, Mayer & Milbradt:

https://www.restud.com/a-theory-of-cash-flow-based-financing-with-distress-resolution/

#Finance

Reply on Twitter 1884748093213528512 Retweet on Twitter 1884748093213528512 13 Like on Twitter 1884748093213528512 42 Twitter 1884748093213528512

Recently accepted to #REStud, ``Wealth Inequality and Asset Prices'' from Matthieu Gomez:

https://www.restud.com/wealth-inequality-and-asset-prices/

Reply on Twitter 1884743957092901299 Retweet on Twitter 1884743957092901299 36 Like on Twitter 1884743957092901299 164 Twitter 1884743957092901299
Load More