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Labor Supply Responses and Adjustment Frictions: A Tax-Free Year in Iceland

By ´³Ã³²õ±ð´Ú Sigurdsson

òòò½Íø Journal: Economic Policy, November 2025

Labor income earned in Iceland in 1987 went untaxed. I use this episode to study labor supply responses to temporary wage changes. Using a population-wide dataset of earnings and working time and two identification strategies, I estimate intensive and ext...

Local Labor Market Effects of the 2002 Bush Steel Tariffs

By James Lake and Ding Liu

òòò½Íø Journal: Economic Policy, November 2025

President George W. Bush imposed safeguard tariffs on steel in early 2002. Using US input-output tables and a generalized difference-in-difference methodology, we analyze the local labor market employment effects of these tariffs depending on the local la...

Public Financing and Racial Disparities: Does a Rising Tide Always Lift All Boats?

By Tian Qiu

òòò½Íø Journal: Economic Policy, November 2025

This paper studies the heterogeneous impact of local government spending across racial groups. An exogenous increase in spending results in significant improvement in White, but not Black or Hispanic, labor market outcomes such as employment rate, weekly ...

Take-up of Social Benefits: Experimental Evidence from France

By Laura Castell, Marc Gurgand, °ä±ôé³¾±ð²Ô³Ù Imbert, and Todor Tochev

òòò½Íø Journal: Economic Policy, November 2025

We report on two nationwide experiments with job seekers in France. We first show that a meeting with social services to assess eligibility and help with applications to social benefits increased new benefit take-up by 29 percent. By contrast, an online s...

The Not-So-Uniform Effects of Trade Secret Protection on Business Entry

By Asli ³¢±ð²ú±ô±ð²ú¾±³¦¾±´ÇÄŸ±ô³Ü and Tanseli ³§²¹±¹²¹ÅŸ±ð°ù

òòò½Íø Journal: Economic Policy, November 2025

We explore the consequences of trade secret protection for new business formation in the United States. We find the states that adopt the Uniform Trade Secrets Act (UTSA), which enhances intellectual property rights, experience an overall decline in firm ...

Place Effects and Geographic Inequality in Health at Birth

By Eric Chyn and Na'ama Shenhav

òòò½Íø Journal: Economic Policy, November 2025

This paper uses birth records and mothers who move to quantify the absolute and relative importance of birth location for early-life health. Using a model that includes mother and location fixed effects, we find that moving from a below- to an above-media...

Does Getting Forecasts Earlier Matter? Evidence from Winter Advisories and Vehicle Crashes

By Vaibhav Anand

òòò½Íø Journal: Economic Policy, November 2025

Significant investments are directed toward improving the accuracy and early availability of forecasts. However, the value of longer lead times on forecasts is unclear. Using data on winter weather advisories and vehicle crashes in the United States, I sh...

The Semblance of Success in Nudging Consumers to Pay Down Credit Card Debt

By Benedict Guttman-Kenney, Paul Adams, Stefan Hunt, David Laibson, Neil Stewart, and Jesse Leary

òòò½Íø Journal: Economic Policy, November 2025

We test a nudge in a field experiment on credit cards. The nudge shrouds the autopay enrollment option for cardholders to automatically pay exactly the credit card minimum payment each month. After six months, the nudge decreases the fraction of cardholde...

Do Medical Treatments Work for Work? Evidence from Breast Cancer Patients

By N. Meltem Daysal, William N. Evans, Mikkel Hasse Pedersen, and Mircea Trandafir

òòò½Íø Journal: Economic Policy, November 2025

We investigate the effects of radiation therapy on the mortality and economic outcomes of breast cancer patients. We implement a 2SLS strategy within a difference-in-difference framework exploiting variation in treatment stemming from a medical guideline ...

Social Welfare Portability and Migration: Evidence from India's Public Distribution System

By Travis Baseler, Ambar Narayan, Odyssia Ng, and Sutirtha Sinha Roy

òòò½Íø Journal: Economic Policy, November 2025

This paper studies a new program designed to make food entitlements portable throughout India. We first characterize the state of food entitlement portability using mystery shoppers and surveys of migrants and distributors. We then inform households about...

Do Tuition Subsidies Raise Political Participation?

By Daniel Firoozi and Igor Geyn

òòò½Íø Journal: Economic Policy, November 2025

Civic externalities motivate education expenditures, but estimates of the civic returns to large-scale education subsidies are scarce. We use 16 million financial aid applications and a regression discontinuity (RD) design to estimate how a tuition-free c...

The stalled progress of gender equality in the US labor market

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Life cycle profiles of wages help shed light on the economic progress of women relative to men.

Refugees’ Economic Integration

By Dany Bahar, Rebecca Brough, and Giovanni Peri

Journal of Economic Literature

Refugees are international migrants escaping persecution and crises, whose economic success in their countries of destination is threatened by lack of access to labor and credit markets, limited information on employment opportunities, and loss of human c...

Front Matter

òòò½Íø Review, November 2025

Just a Few Seeds More: The Value of Network Data for Diffusion

By Mohammad Akbarpour, Suraj Malladi, and Amin Saberi

òòò½Íø Review, November 2025

Identifying the optimal set of individuals to first receive information ("seeds") in a social network to maximize expected diffusion is a widely studied question in many settings. Several studies propose network-centrality-based heuristics to select seeds...

Default Options and Retirement Saving Dynamics

By Taha Choukhmane

òòò½Íø Review, November 2025

Using data from over 100 US retirement plans and a representative UK panel, I document the impact of auto-enrollment (AE) on retirement savings at different horizons. I replicate the impact of AE on participation and contributions in the short run (at 12 ...

A Preferred-Habitat Model of Term Premia, Exchange Rates, and Monetary Policy Spillovers

By Pierre-Olivier Gourinchas, Walker Ray, and Dimitri Vayanos

òòò½Íø Review, November 2025

We develop a two-country model in which currency and bond markets are populated by different investor clienteles, and segmentation is partly overcome by arbitrageurs with limited capital. Risk premia in our model are time-varying, connected across markets...

Quid Pro Quo, Knowledge Spillovers, and Industrial Quality Upgrading: Evidence from the Chinese Auto Industry

By Jie Bai, Panle Jia Barwick, Shengmao Cao, and Shanjun Li

òòò½Íø Review, November 2025

This paper studies the impact of quid pro quo (technology for market access) in facilitating knowledge spillovers and quality upgrading in the Chinese automobile industry. The identification strategy exploits within-product quality variation across a rich...

Nonlinear Pricing and Misallocation

By Gideon Bornstein and Alessandra Peter

òòò½Íø Review, November 2025

This paper studies the effect of nonlinear pricing on markups and misallocation. In a general equilibrium model in which firms are allowed to set a quantity-dependent pricing schedule, markup heterogeneity is not a sign of misallocation. Instead, we point...

Borrowing and Spending in the Money: Debt Substitution and the Cash-Out Refinance Channel of Monetary Policy

By Elliot Anenberg, Tess Scharlemann, and Eileen van Straelen

òòò½Íø Review, November 2025

We show that the strong negative effect of higher mortgage rates on cash-out refinancing reflects substitution into other borrowing products, not large changes in total new household borrowing. We exploit plausibly exogenous changes in interest rates due ...