Showing 1 - 10 of 72
This paper examines demand systems where the demand for a good depends on other prices only through a common price aggregator (a scalar function of all prices). We refer to this property as ``generalized separability'' and provide the functional forms of demand that this property implies when...
Persistent link: https://www.econbiz.de/10013191091
This paper examines demand systems where the demand for a good depends only on its own price, consumer income, and a single aggregator synthesizing information on all other prices. This generalizes directly-separable preferences where the Lagrange multiplier provides such an aggregator. As...
Persistent link: https://www.econbiz.de/10012480678
Continuous time is a superior representation of both the economic and climate systems that Integrated Assessment Models (IAM) aim to study. Moreover, continuous-time representations are simple to express. Continuous-time models are usually solved by discretizing time, but the quality of a...
Persistent link: https://www.econbiz.de/10012460295
Large language models (LLMs) such as ChatGPT have the potential to revolutionize research in economics and other disciplines. I describe 25 use cases along six domains in which LLMs are starting to become useful as both research assistants and tutors: ideation, writing, background research, data...
Persistent link: https://www.econbiz.de/10014226154
The scholarly impact of academic research matters for academic promotions, influence, relevance to public policy, and others. Focusing on writing style in top-level professional journals, we examine how it changes with age, and how stylistic differences and age affect impact. As top-level...
Persistent link: https://www.econbiz.de/10014250168
In this chapter, we discuss field experiments in surveys that are conducted with the purpose of learning about expectation formation and the link between expectations and behavior. We begin by reviewing the rationale for conducting experiments within surveys, rather than just relying on...
Persistent link: https://www.econbiz.de/10012938719
Audit correspondence studies are field experiments that test for discriminatory behavior in active markets. Researchers measure discrimination by comparing how responsive individuals ("audited units") are to correspondences from different types of people. This paper elaborates on the tradeoffs...
Persistent link: https://www.econbiz.de/10012510596
Economic data engineering deliberately designs novel forms of data to solve fundamental identification problems associated with economic models of choice. I outline three diverse applications: to the economics of information; to life-cycle employment, earnings, and spending; and to public policy...
Persistent link: https://www.econbiz.de/10012660056
Linear panel models, and the "event-study plots" that often accompany them, are popular tools for learning about policy effects. We discuss the construction of event-study plots and suggest ways to make them more informative. We examine the economic content of different possible identifying...
Persistent link: https://www.econbiz.de/10012616618
This paper tests the retrieved context model of Wachter and Kahana (2019) using a long-term panel of economic forecasts by participants in the Livingston Survey. Events in historical time contribute additional explanatory power to a relative time series model. Historical precedents for current...
Persistent link: https://www.econbiz.de/10013172148