Results

CEP discussion paper

Mind the lag: using assessed and list prices as proxies for housing market values

Property transaction prices are widely regarded as the best measure of property value, but are sometimes unavailable. Using data from the Netherlands and New York, we analyze whether list prices and assessed values are r...Read more...

Journal article

Management Science:

Does employee happiness have an impact on productivity?

This paper provides evidence from a natural experiment on the relationship between positive affect and productivity. We link highly detailed administrative data on the behaviors and performance of all telesales workers a...Read more...

CEP discussion paper

Local and national concentration trends in jobs and sales: the role of structural transformation

National U.S. industrial concentration rose between 1992-2017. Simultaneously, the Herfindhahl Index of local (six-digit-NAICS by county) employment concentration fell. This divergence between national and local employme...Read more...

Journal article

Journal of Econometrics:

Surveying business uncertainty

We elicit subjective probability distributions from business executives about their own-firm outcomes at a one-year look-ahead horizon. In terms of question design, our key innovation is to let survey respondents freely ...Read more...

Blog

LSE US Centre:

Trade protection along supply chains: how antidumping measures against China hurt downstream industries

Production processes are often no longer confined to a single country; supply chains can be fragmented across great distances. By contrast, tariffs are often used by individual countries to protect certain industries. In...Read more...

Journal article

American Economic Review:

Monopolistic competition and optimum product selection

We provide novel insights on the decentralization of optimal outcomes under monopolistic competition with nonseparable utility, variable demand elasticity, and endogenous firm heterogeneity. Relative to the unconstrained...Read more...

CEP discussion paper

Sales and Monetary Policy

A striking fact about prices is the prevalence of ``sales': large temporary price cuts followed by a return exactly to the former price. This paper builds a macroeconomic model with a rationale for sales based on firms ...Read more...