Publications & Papers

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Who Sees the Trades?

Rodney J. Garratt, Michael Junho Lee, Antoine Martin, Robert M. Townsend
November 2025
Macroeconomics

Financial Conditions Targeting in a Multi-Asset Open Economy

Ricardo J. Caballero, Alp Simsek
November 2025
Labor Economics, Macroeconomics

Automation and Rent Dissipation: Implications for Wages, Inequality, and Productivity

forthcoming, Quarterly Journal of Economics
Daron Acemoglu and Pascual Restrepo
November 2025
Econometrica

Marginal Reputation

Econometrica
Daniel Luo, Alexander Wolitzky
November 2025
Quarterly Journal of Economics
Health Economics, Public Economics

What Drives Risky Prescription Opioid Use? Evidence from Migration

Quarterly Journal of Economics
Amy Finkelstein, Matthew Gentzkow, Dean Li
November 2025

My Grandfather’s Papers

Michael J. Piore
October 2025

Public Ownership and Anti-Preemption

Juliano Assuncao, Sergey Mityakov, Robert M. Townsend
October 2025
International Economics

Seven Questions About Tariffs That Everyone Should Know the Answer To

The Economic Consequences of The Second Trump Administration: A Preliminary Assessment, Gary Gensler, Simon Johnson, Ugo Panizza, Beatrice Weder di Mauro (eds), CEPR Press, Paris & London
Arnaud Costinot
Andres Rodriguez Clare
October 2025

Incentive-Compatible Unemployment Reinsurance for the Euro Area

Karaivanov, Alexander, Benoit Mojon, Luiz Pereira da Silva, Albert Pierres Tejada and Robert M Townsend
October 2025

Risk-taking over the Life Cycle: Aggregate and Distributive Implications of Entrepreneurial Risk

Dejanir H. Silva, Robert M. Townsend
October 2025
Industrial Organization, Political Economy

Online Business Models, Digital Ads, and User Welfare

Daron Acemoglu, Daniel Huttenlocher, Asuman Ozdaglar, James Siderius
October 2025

Information Frictions in Macroeconomics: The Legacy of Robert E. Lucas, Jr.

Journal of Monetary Economics,
Robert M. Townsend
October 2025
2025 Poor Economics
Development Economics

Poor Economics: Revised and Updated

A Radical Rethinking of the Way to Fight Global Poverty
Abhijit V. Banerjee and Esther Duflo
September 2025
Macroeconomics

Optimal Policy Rules in HANK

Revise and resubmit, The Review of Economic Studies
Alisdair McKay, Christian Wolf
September 2025

The Algorithm Advantage: Ranked Application Systems Outperform Decentralized and Common Applications in Boston and Beyond

NBER Working Paper #34207
Christopher Avery, Geoffrey Kocks & Parag Pathak
September 2025
Development Economics

Intergenerational Impacts of Secondary Education: Experimental Evidence from Ghana

Esther Duflo, Pascaline Dupas, Elizabeth Spelke, Mark Walsh
August 2025
Econometrics

Estimation in Linear Models with Clustered Data

Anna Mikusheva, Mikkel Sølvsten and Baiyun Jing
August 2025
Quarterly Journal of Economics
Behavioral Economics, Health Economics, Public Economics

Lives Versus Livelihoods: The Impact of the Great Recession on Mortality and Welfare

Amy Finkelstein, Matthew J. Notowidigdo, Frank Schilbach, and Jonathan Zhang
August 2025