Search Results - economics

Coca's Return and the American Overdose Fallout

Du, Xinming; Hansen, Benjamin; Zhang, Shan; Zou, Eric … - 2026

Colombian coca cultivation fell dramatically between 2000 and 2015, a period that saw intense U.S.-backed eradication and interdiction efforts. That progress reversed in 2015, when peace talks and legal rulings in Colombia opened enforcement gaps. Coca plantation has since increased to record...

Persistent link: https://econbiz.de/10015611093

The Effect of Exposure : Evidence from Spatial Choices in Nairobi

Dean, Joshua T.; Kreindler, Gabriel E.; Mbonu, Oluchi - 2026

How much do people dislike opportunities they have never been exposed to, and why? We study how exposure affects work location decisions of casual workers. We offer short-term employment and randomize training locations to induce novel exposures. Participants sacrifice 22% of the median daily...

Persistent link: https://econbiz.de/10015611104

International Currency Dominance

Abadi, Joseph; Fernández-Villaverde, Jesús; Sanches, … - 2026

We present a micro-founded monetary model of the world economy to study international currency competition. Our model features "unipolar'' equilibria, with a single dominant international currency, and "multipolar'' equilibria, in which multiple currencies circulate internationally. Long-run...

Persistent link: https://econbiz.de/10015611122

Non-Fungible Tokens as Investment

Goetzmann, William N.; Huang, Dong; Nozari, Milad - 2026

NFTs provided an extraordinary real-time laboratory for bubble economics: returns were exceptionally right …

Persistent link: https://econbiz.de/10015611142

Mimicking Finance

Cohen, Lauren; Lu, Yiwen; Nguyen, Quoc H. - 2026

We use frontier advancements in Artificial Intelligence and machine learning to extract and classify the part of key economic agents' behaviors that are predictable from past behaviors. Even the agents themselves might view these as novel (innovative) decisions; however, we show in strong...

Persistent link: https://econbiz.de/10015611153

A Unified Urban Model With Non-Homothetic Housing Demand

Robert-Nicoud, Frédéric; Combes, Pierre-Philippe; … - 2026

Canonical urban models fail to jointly account for flexible housing demand, nondegenerate city sizes, and observed urban systems. We introduce a unifying urban framework based on price-independent generalized linear (PIGL) preferences in which housing is a necessity. Non-homothetic housing...

Persistent link: https://econbiz.de/10015611180

Optimal Simple Ratings

Hopenhayn, Hugo Andrés; Saeedi, Maryam - 2026

We study optimal simple rating systems that partition sellers into a finite number of tiers. We show that optimal ratings must be threshold partitions, and that for linear supply and Cournot competition with constant marginal cost, optimal thresholds solve a k-means clustering problem requiring...

Persistent link: https://econbiz.de/10015611193

Did Foreigners Pay America's Tariffs? : Quantity Discounts, Scale Economies and Incomplete Pass-Through

Ganapati, Sharat; Hottman, Colin J. - 2026

Transaction-level quantity discounts are a pervasive feature of US trade, shaping both price variation and tariff incidence. Using administrative microdata, we show that these discounts reflect transaction-level scale economies rather than market power. Accounting for these micro-level economies...

Persistent link: https://econbiz.de/10015611205

Efficiency, Insurance, and Redistribution Effects of Government Policies

Bhandari, Anmol; Evans, David; Golosov, Michail Ju.; … - 2026

This paper decomposes welfare measures of policy reforms into parts attributable to redistribution and parts due to efficiency. We further decompose efficiency into subcomponents such as gains from better insurance against idiosyncratic and aggregate risk. Our decomposition of welfare measures...

Persistent link: https://econbiz.de/10015611211

The Economics of Tariffs

Ossa, Ralph; Redding, Stephen - 2026

A central insight from neoclassical economics is that international trade operates like an improvement in production …

Persistent link: https://econbiz.de/10015611219