If one ranks cities by population, the rank of a city is inversely related to its size, a well-documented phenomenon …

This paper develops a procedure to rank-order countries and commodities using disaggregated US imports data. It finds …

the effect of decentralization on the risk and performance of pension funds, and find evidence supporting some predictions … of assets and fund management company-level skill effects. We also study changes in risk-taking when moving to … managers by allocating reduced risk budgets to each manager, which helps to compensate for the suboptimal diversification that …

In this paper we present empirical evidence of the importance of aggregation bias in Euler equations for consumption … data). Even when these sources of aggregation bias are corrected for, however, the estimates of the elasticity of …

We show the importance of a dynamic aggregation bias in accounting for the PPP puzzle. We prove that established time …

when we can separate the effect on efficiency from the effect on distribution, that is when Gorman aggregation applies, the …

asset markets and indivisible labor supply. Imperfect aggregation manifests itself through preference shocks in the …