AEA Journals

Two Paths to Prosperity: Culture and Institutions in Europe and China, 1000–2000 by Avner Greif,...

Journal of Economic Perspectives

Vol. 40 No. 4 Fall 2026

The Peace Formula: Voice, Work and Warranties, Not Violence by Dominic Rohner

Optimal Transparency in Over-the-Counter Markets

Financial over-the-counter markets often lack both pre-trade transparency (visibility of current quotes) and post-trade transparency (disclosure of past trades), which raises concerns about their...

American Economic Review

Vol. 116 No. 11 November 2026

Unconventional Monetary Policy: Lessons from 2020–2024

The 2020–2024 period placed unconventional monetary policy tools at the centre of policy. Forward guidance and large-scale asset purchases were deployed forcefully and were then confronted by a rapid...

Complementary Climate Policies for Supply and Demand

The traditional approach to climate policy is to regulate the demand side, for example through an emissions fee. Supply-side regulation has received less attention. The two instruments are perfect...

American Economic Journal: Economic Policy

Vol. 18 No. 4 November 2026

The Labor Market Returns to Delaying Pregnancy

We study the labor market impact of unplanned pregnancy among women using long-acting reversible contraceptives to delay pregnancy. While most women successfully delay, some have unplanned pregnanc...

Measuring the Value of Disability Insurance from Take-Up Decisions

The central trade-off for designing Disability Insurance (DI) is between providing insurance to those in need while maintaining incentives to work. This paper develops a novel revealed-preference...

Corporate Debt Maturity and Business Cycle Fluctuations

Long-term debt is the main source of firm financing in the United States. We show that accounting for debt maturity is essential for understanding business cycle dynamics. We develop a macroeconomic...

American Economic Journal: Microeconomics

Vol. 18 No. 4 November 2026

Market Externalities of Tax Evasion

This paper presents evidence of market externalities of tax evasion: firms’ tax non-compliance distorts the outcomes of their competitors. Using novel administrative data on Italian firms, we...

When Opportunity Costs Others: The Spillover Effects of School Choice Lotteries on Criminality

While prior evidence suggests that school choice lottery winners have lower adult criminality, there is little evidence on how school choice lotteries impact non-applicants. We leverage variation in...

The Two Sides of Discretion: Assessing Efficiency and Quality in Government Purchases

Using a rule in Brazil exempting small-value public purchases from competitive bidding, this paper reveals an efficiency-quality trade-off in public procurement. Discretionary purchases are 17%...

Crisis Cycle: Challenges, Evolution, and Future of the Euro by John H. Cochrane

Links Between Puzzles in Household Finance: Evidence from Employee Benefit Choices

Many people have difficulty making financial decisions. We show that the quality of two important decisions—health insurance and retirement saving—are positively correlated using administrative and...

Consumption Inequality in the Digital Age

This paper studies how digitalization affects consumption inequality. We assemble a novel dataset of digital technology in consumption, and establish that high-income households consume a larger...