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Basel Endgame: Bank Capital Requirements and the Future of International Standard Setting

By Stephen Cecchetti, Jeremy Kress, and Kermit Schoenholtz

Journal of Economic Perspectives, Summer 2025

In 2023, US regulators proposed the "Basel Endgame," a long-awaited overhaul of bank capital requirements. The proposal aimed to bring the United States into compliance with international standards established by the Basel Committee on Banking Supervision...

Interview with Anne O. Krueger

By Dylan Matthews

Journal of Economic Perspectives, Summer 2025

Matthews interviews eminent international economist Anne O. Krueger, tracing her life in academia and her service at multilateral economic institutions, and explaining her myriad intellectual contributions to the field. Krueger recounts her early skeptici...

How Congress Designed the Federal Reserve to Be Independent of Presidential Control

By Gary Richardson and David W. Wilcox

Journal of Economic Perspectives, Summer 2025

Conventional wisdom traces the origins of the Federal Reserve's independence to the 1951 Treasury-Fed Accord. That rendition of history is inaccurate. The principal source of the Fed's monetary-policy independence is the Banking Act of 1935, which created...

Front Matter

Journal of Economic Perspectives, Summer 2025

Recommendations for Further Reading

By Timothy Taylor

Journal of Economic Perspectives, Summer 2025

Trade, AI supply chains, and industrial Policy

[News]

August 05, 2025

Reading recommendations from Timothy Taylor, managing editor of the Journal of Economic Perspectives"

Long-Term Securities and Banking Crises

By Jianjun Miao, Zhouxiang Shen, and Dongling Su

òòò½Íø Journal: Macroeconomics

We incorporate banks into a DSGE framework to study how interest rate hikes affect the macroeconomy. The procyclical bank balance sheets and long-term bond prices amplify adverse shocks, which can trigger a bank run. We introduce a macroprudential pol...

No-cost Webinars for 2025-26 Job Seekers on August 19-21 Hosted by National Association for Business Economics

[News]

August 14, 2025

View the òòò½Íø Member Announcement from August 15, 2025.

Six Decades of Top Economics Publishing: Who and How?

By Daniel S. Hamermesh

Journal of Economic Literature, March 2013

Presenting data on all full-length articles in the three top general economics journals for one year in each decade 1960s-2010s, I analyze changes in patterns of coauthorship, age structure and methodology, and their possible causes. The distribution of n...

Suspension vs. restoration

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Do restorative justice practices in the classroom improve student outcomes?

Funding & Grants

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òòò½Íø Award and Grant Opportunities – Act Now

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August 25, 2025

View the òòò½Íø Member Announcement from August 26th, 2025.

Preferences for Firearms

By Sarah Moshary, Bradley T. Shapiro, and Sara Drango

òòò½Íø Review: Insights, September 2025

This paper provides a critical input into crafting effective firearms policy: an understanding of consumer demand for guns. We estimate individual-level price sensitivity and substitution patterns across gun types using stated-choice experiments. We find ...

Health Effects of Cousin Marriage: Evidence from US Genealogical Records

By Sam Il Myoung Hwang, Deaglan Jakob, and Munir Squires

òòò½Íø Review: Insights, September 2025

Cousin marriage rates are high in many countries today. While previous studies have documented increased risks of infant and child mortality, we provide the first estimate of the effect of such marriages on life expectancy throughout adulthood. By studyin...

Exogenous Exits, Market Structure, and Equilibrium Contracts in Health Care

By Natalia Serna

òòò½Íø Review: Insights, September 2025

This paper quantifies the causal effects of exogenous health insurer exits on contract structure and health care market outcomes, proposing market concentration as a likely mechanism for these effects. Leveraging the termination of the largest health insu...

Consumer-Financed Fiscal Stimulus: Evidence from Digital Coupons in China

By Jing Ding, Lei Jiang, Lucy Msall, and Matthew J. Notowidigdo

òòò½Íø Review: Insights, September 2025

In 2020, local governments in China began issuing digital coupons to stimulate spending in targeted categories such as restaurants and supermarkets. Using data from a large e-commerce platform and a bunching estimation approach, we find that the coupons c...

Quantifying Threshold Manipulation in the Presence of Rounding: The Case of Lead Monitoring in US Drinking Water

By Tihitina Andarge, Dalia Ghanem, David A. Keiser, and Gabriel E. Lade

òòò½Íø Review: Insights, September 2025

Many laws and economic actions depend on thresholds. As a consequence, threshold manipulation is a common concern in a variety of settings. Existing methods for detecting and quantifying threshold manipulation assume a continuous counterfactual distributi...

Discrimination in the Formation of Academic Networks: A Field Experiment on #EconTwitter

By ±·¾±³¦´Ç±ôá²õ Ajzenman, Bruno Ferman, and Pedro C. Sant'Anna

òòò½Íø Review: Insights, September 2025

This paper documents discrimination in the formation of professional networks among academic economists. We created 80 bot accounts that claim to be PhD students differing in three characteristics: gender (male or female), race (Black or White), and unive...

A Theory of Fair CEO Pay

By Pierre Chaigneau, Alex Edmans, and Daniel Gottlieb

òòò½Íø Review: Insights, September 2025

This paper studies executive pay with fairness concerns: If the CEO's wage falls below a perceived fair share of output, he suffers disutility that is increasing in the discrepancy. Fairness concerns do not always lead to fair wages; instead, the firm thr...

Interpreting TSLS Estimators in Information Provision Experiments

By Vod Vilfort and Whitney Zhang

òòò½Íø Review: Insights, September 2025

In information provision experiments, researchers often estimate the causal effects of beliefs on actions using two-stage least squares (TSLS). This paper formalizes exclusion and monotonicity conditions that ensure that TSLS recovers a positive-weighted ...