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Presidential Address: Investing in Children to Address the Child Mental Health Crisis

By Janet Currie

òòò½Íø Review, May 2025

The child mental health crisis has been described as the "defining public health crisis of our time." This article addresses three myths about the crisis: (i) the idea that the crisis is new; (ii) the belief that increases in youth suicide mainly reflect ...

Front Matter

òòò½Íø Review, May 2025

Does Entry Remedy Collusion? Evidence from the Generic Prescription Drug Cartel

By Amanda Starc and Thomas G. Wollmann

òòò½Íø Review, May 2025

Entry represents a fundamental threat to cartels. We study the extent and effect of this behavior in the largest price-fixing case in US history, which involves generic drug manufacturing. We link information on the cartel's internal operations to regulat...

The Role of People versus Places in Individual Carbon Emissions

By Eva Lyubich

òòò½Íø Review, May 2025

There is substantial spatial heterogeneity in household carbon emissions. I leverage movers in two decades of administrative Decennial Census and American Community Survey data to estimate place effects—the amount by which carbon emissions change for th...

Efficiency in Household Decision-Making: Evidence from the Retirement Savings of US Couples

By Taha Choukhmane, Lucas Goodman, and Cormac O'Dea

òòò½Íø Review, May 2025

We study how couples allocate retirement-saving contributions across each spouse's account. In a new dataset covering over a million US individuals, we find retirement contributions are not allocated to the account with the highest employer match rate. Th...

When Do "Nudges" Increase Welfare?

By Hunt Allcott, Daniel Cohen, William Morrison, and Dmitry Taubinsky

òòò½Íø Review, May 2025

We use public finance sufficient statistic approaches to characterize the welfare effects of "nudges," such as simplified information and warning labels, in markets with taxes and endogenous prices. While many studies focus on average effects, we show tha...

Risk Aversion and Insurance Propensity

By Fabio Maccheroni, Massimo Marinacci, Ruodu Wang, and Qinyu Wu

òòò½Íø Review, May 2025

We provide a new foundation of risk aversion by showing that this attitude is fully captured by the propensity to seize insurance opportunities. In our main results, we first characterize Arrow-Pratt (1963–1964) risk aversion in terms of propensity to f...

Selling Subscriptions

By Liran Einav, Ben Klopack, and Neale Mahoney

òòò½Íø Review, May 2025

We study one benefit to firms of selling subscriptions: the prospect that consumers will continue to pay for subscriptions they no longer value. We use comprehensive data from a large payment card network to document that months during which cards are rep...

How Do Mental Health Treatment Delays Impact Long-Term Mortality?

By Sydney Costantini

òòò½Íø Review, May 2025

With a growing mental health crisis and a shortage of behavioral health specialists, those seeking mental health treatment often face long wait times to obtain care. I study how clinic congestion affects mortality for veterans experiencing mental health e...

Climate shocks and the economy

[Research Highlight]

April 29, 2025

Is the US economy adapting to more severe weather patterns?

Severe Weather and the Macroeconomy

By Hee Soo Kim, Christian Matthes, and °Õ´Çà²Ô Phan

òòò½Íø Journal: Macroeconomics, April 2025

We investigate the impact of severe weather shocks on the US macroeconomy over the past 60 years. Using a nonlinear vector autoregressive model, we find robust evidence of time-varying effects. While negligible at the beginning of the sample, the impact b...

Requests for Comment on Federal Data Collections

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What They Are, Why Respond, Current Opportunities

òòò½Íø Data Legality Policy and Explanations

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Call for Papers: Orlando Annual Business Research Conference (OABRC) 2025

[News]

May 02, 2025

The submission deadline is June 14, 2025.

Amplification of Trade Shocks

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A reduction in the supply of credit followed China's entry into the World Trade Organization.

Heterogeneity in Risky Choice Behavior in a Broad Population

By Hans-Martin von Gaudecker, Arthur van Soest, and Erik °Â±ð²Ô²µ²õ³Ù°ùö³¾

òòò½Íø Review, April 2011

We analyze risk preferences using an experiment with real incentives in a representative sample of 1,422 Dutch respondents. Our econometric model incorporates four structural parameters that vary with observed and unobserved characteristics: utility curva...

Janet Currie, Distinguished Fellow 2025

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Why Is the Fragmented Municipal Bond Market So Costly to Investors and Issuers?

[Symposium: Bond Markets]

By John M. Griffin, Nicholas Hirschey, and Samuel Kruger

Journal of Economic Perspectives, Spring 2025

The municipal bond market plays a crucial role in providing capital to US municipalities and functions through a network of underwriters, municipal advisors, credit rating agencies, insurers, individual and institutional investors, and multiple regulators...

How US Treasuries Can Remain the World's Safe Haven

[Symposium: Bond Markets]

By Darrell Duffie

Journal of Economic Perspectives, Spring 2025

Weaknesses in the design of the market for US Treasuries have reduced the effectiveness of world's favored safe-haven asset. Since the Global Financial Crisis, the market's intermediation capacity is far more constrained by the balance sheets of dealer ba...

Lessons for the United States from Pharmaceutical Regulation Abroad

[Symposium: Drug Pricing and Regulation]

By Margaret K. Kyle

Journal of Economic Perspectives, Spring 2025

Pharmaceutical markets are characterized by barriers to entry and information problems. Many countries intervene in the pricing and reimbursement of drugs to a greater extent than the US government to date. Continued pressure from politicians and recent l...