This paper investigates self-reported wedges between how much people work and how much they want to work, at their current wage. More than two-thirds of full-time workers in German survey data are overworked--actual hours exceed desired hours. We combine this evidence with a simple model of...

Private minibuses dominate transport in many developing country cities. They serve 62% of trips in Lagos, the largest city in sub-Saharan Africa. We collect panel data to measure how private minibuses respond to the rollout of a new public bus network. When the government enters a route,...

Building on recent advances in the literature on knowledge creation and innovation (notably Carnehl and Schneider (2025), we propose a novel general equilibrium model that explicitly incorporates artificial intelligence (AI) as a decision-enhancing technology capable of interpolating between...

We analyze a model of green technological transition along a supply chain. The model generates a unique equilibrium for given initial conditions but multiple steady-states. We show that: (i) even in the presence of Pigouvian environmental taxation, targeted sectoral subsidies are generally...

The Affordable Care Act (ACA) changed incentives for individual and employer-sponsored insurance. Using unique small group market (SGM) data with detailed claims and enrollment information, we analyze the welfare gains across households in the SGM from alternative formulations of ACA health...

We develop a quantitative New Keynesian DSGE model with monopolistic banks to study the macroeconomic effects of introducing a central bank digital currency (CBDC). Households benefit from an expansion of liquidity services and higher deposit rates as bank deposit market power is curtailed,...

How do regional productivity shocks or transportation infrastructure improvements affect aggregate welfare? In a general class of spatial equilibrium models, we provide a formula for aggregate welfare changes, decomposed into terms associated with (i) technology (Fogel 1964, Hulten 1978), (ii)...

We examine positive and normative questions that arise with the joint use of carbon taxes and green subsidies in an open economy. Moving from autarky to free trade induces countries to introduce green subsidies and reduce carbon taxes, in order to reduce foreign emissions. In contrast to the...

We assemble global, spatially disaggregated panel data on ambient particulates, population, and economic activity, and develop a macroeconomic integrated assessment model of particulate exposure for 30 countries representing 60\% of world population. The data indicate the importance of country...

This paper examines a new moral hazard in delegated decision-making: authors can embed hidden instructions--known as prompt injections--to bias AI referees in academic peer review, thereby hijacking machine recommendations. Because AI reviews are relatively inexpensive compared to manual...