The COVID-19 pandemic highlighted the importance of vaccines, but it also underscored the reservations and low take-up rates among US citizens. In a paper in the American Economic Journal: Economic Policy, authors Marcella Alsan and Sarah Eichmeyer tested several approaches to improving messages aimed at boosting vaccine demand. Their main finding was that messages delivered by laypersons were more effective than those delivered by persons perceived to be doctors.  Eichmeyer says that video...

In the middle of the day on Friday, March 10, 2023, bank regulators swiftly shut down Silicon Valley Bank (SVB), arguably averting a wider panic. Compared to past financial crises, it was not especially economically significant, but it stands out as an important, illustrative example of the economics of banking. In a paper in the Journal of Economic Perspectives, author Andrew Metrick explains the causes behind SVB’s failure and how the government responded. He says that understanding the...

Before Silicon Valley became a byword for innovation, Route 128, outside of Boston, was America's technology highway, connecting the country’s premier technology companies and research facilities. However, this first American high-tech cluster likely would not have developed as it did without one of the biggest shocks to federal R&D funding in US economic history. In a paper in the American Economic Review, authors Daniel P. Gross and Bhaven N. Sampat explain how a World War II research...

Numerous studies have highlighted the importance of effective teachers for student achievement. But new research suggests that school counselors may be just as critical as teaching staff for some students. In a paper in the American Economic Review, author Christine Mulhern found that effective high school counselors can significantly improve the chance that students graduate from high school and attend a four-year college. She says that although it is challenging to predict which counselors...

Some social scientists have postulated that governments are designed for the purpose of helping the powerful take resources from the less powerful. But while there have been many exploitative governments throughout history, states may have actually started to form as a means of facilitating cooperation. In a paper in the American Economic Review, authors Robert C. Allen, Mattia C. Bertazzini, and Leander Heldring found that in ancient Mesopotamia, states were more likely to form when...

Seven years before the 1954 Brown v. Board of Education decision ended the legal segregation of Black schoolchildren, California ended the legal segregation of Mexican American schoolchildren. That decision, known as Mendez v. Westminster, had a rapid impact across the state and led to significant educational benefits, according to a paper in the Journal Economic Literature.  Authors Francisca M. Antman and Kalena E. Cortes found that in areas more likely to practice segregation, the Mendez...

The bulk of education research focuses on the benefits of the traditional K–12 and higher education systems, while non-traditional programs are relatively understudied. But economists are starting to shine a light on the large returns to investing in adult education. In a paper in the American Economic Journal: Economic Policy, authors Blake H. Heller and Kirsten Slungaard Mummafound large earnings gains and more civic engagement among immigrants who participated in an adult program teaching...

The United States spends over a billion dollars a year on housing programs that give recently released prisoners a place to stay and modest support before reintegration into society. Yet there is little causal evidence that these programs work. In a paper in the American Economic Journal: Applied Economics, author Logan M. Lee estimated whether residential housing programs in Iowa kept prisoners from returning to prison. He found that instead of reducing recidivism, prisoners assigned to...

The costs of Alzheimer’s disease are significant. In 2021, it affected nearly 6 million Americans and accounted for an estimated 8 percent of total US health-care spending—about as much as cancer and heart disease combined. And those numbers are only expected to increase as the population ages. In a paper in the Journal of Economic Literature, authors Amitabh Chandra, Courtney Coile, and Corina Mommaerts explain how economists can help provide insights into the numerous policy issues that...

For decades US policymakers have tried to achieve the universal health insurance coverage that many other developed countries enjoy. But despite incremental reforms, based on tweaking health insurance markets, America's uninsured population has remained stubbornly high. In a paper in the Journal of Economic Perspective, authors Katherine Baicker, Amitabh Chandra, and Mark Shepard argue that economists should move away from the paradigm that has inspired these past reforms and toward an...

Around the world, female entrepreneurs borrow less than their male counterparts. Many people suggest that the reason for this gap comes down to the fact that women select into less capital-intensive industries. But in a paper in the American Economic Journal: Applied Economics, authors J. Michelle Brock and Ralph De Haas show that implicit bias against women leads to more onerous ​​guarantor requirements on loans. The findings come from a lab-in-the-field experiment conducted with over three...

A wave of political demonstrations in recent years has grabbed headlines and helped to reshape the political landscape. But it’s an open question as to whether these protest movements actually change opinions in the long run. In a paper in the American Economic Journal: Applied Economics, authors Daniel Hungerman and Vivek Moorthy found that activism can have a lasting impact on local communities. In particular, they found that areas with unusually bad weather on the original Earth Day in...

Fans have frequently experienced the frustration of event tickets selling out in a matter of minutes and then being resold for twice as much or more. This combination of underpriced tickets in the primary market and rent-seeking speculation in the secondary market has long puzzled economists.  In a paper in the American Economic Journal: Microeconomics, authors Eric Budish and Aditya Bhave show that auctions are an easy way to fix broken ticket markets by looking at changes Ticketmaster made...

Graduate school should be about learning how to push the frontiers of knowledge. Many students, however, also learn that getting a PhD can push them into emotional and psychological trouble. In a paper in the Journal of Economic Literature, authors Valentin Bolotnyy, Matthew Basilico, and Paul Barreira surveyed eight top-ranked economics PhD programs across the country and found high levels of significant depression and anxiety symptoms among students. Their survey indicates that some...

Cognitive behavioral therapy (CBT) is a form of counseling designed to change unhelpful patterns of thinking. A strong, evidence-based track record has led to its widespread use in high-income countries. But it may also be an important tool for helping people in some of the poorest countries in the world.  In a paper in the American Economic Review: Insights, authors Nathan Barker, Gharad Bryan, Dean Karlan, Angela Ofori-Atta, and Christopher Udry found that group-based CBT in rural Ghana...

When most Americans look for financial advice, they don't turn to academic journals for guidance. Instead, they’re likely to get information from financial personalities like Dave Ramsey or Robert Kiyosaki, whose books have sold millions of copies. But how good is that advice? In a paper in the Journal of Economic Perspectives, author James J. Choi looked through 50 of the most popular personal finance books on the market and found that they sometimes deviate from the advice of economists. ...

Religion is a deep source of tradition and meaning for many people around the world, especially those in developing countries. But religious practices can sometimes stand in the way of long-term economic growth, according to a paper in the American Economic Review. Authors Eduardo Montero and Dean Yang found that ill-timed patron saint day festivals in Mexico lead to lower levels of development. In particular, celebrations coinciding with important agricultural seasons lowered household...

Major charity appeals can bring in hundreds of millions of dollars. But many worry that these efforts shift money away from other charities or merely move donations forward in time. In a paper in the American Economic Journal: Economic Policy, authors Kimberley Scharf, Sarah Smith, and Mark Ottoni-Wilhelm found that charity fundraisers do in fact lift donations without being offset elsewhere. The findings show that fundraisers can increase the size of the overall charitable pie.  However,...

The pandemic has taken a toll on the education system. School enrollment has decreased, teacher turnover has ticked up, and students have experienced substantial learning losses.  But there is at least one silver lining, according to a paper in the American Economic Review: Insights.  Authors Andrew Bacher-Hicks, Joshua Goodman, Jennifer Greif Green, and Melissa K. Holt found that school bullying and cyberbullying dropped by more than 30 percent as schools shifted to remote learning in...

Every year, hundreds of thousands of kids enter the US foster care system. And yet, improving their welfare remains an understudied topic among economists, according to a paper in the Journal of Economic Perspectives.  Authors Anthony Bald, Joseph J. Doyle Jr., Max Gross, and Brian A. Jacob lay out an economic framework for understanding the US foster care system. They detail what economists have learned about both the demand side and supply side of foster care, such as the causes of child...

From the 1970s to the 1990s, the share of students leaving college with a degree steadily declined. But according to a paper in the American Economic Journal: Applied Economics, the trend since then has taken a turn for the better. Authors Jeffrey T. Denning, Eric R. Eide, Kevin J. Mumford, Richard W. Patterson, and Merrill Warnick documented a large increase in graduation rates over the last three decades. By digging into the records of nine large public universities, a public liberal arts...

In the 1990s, drug manufacturers began marketing their products directly to consumers. Since then, prescription drug advertising has become a multibillion dollar industry, and some have worried that it might be getting between patients and what their doctors think is in their best interest. But in a paper in the American Economic Journal: Microeconomics, author Bradley T. Shapiro found that advertising antidepressants on television led to significant improvements in indicators of...

Publicly available statistics on career earnings show that an economics degree pays far more on the job market than degrees in other social sciences. But it’s not clear that those higher salaries reveal the true returns to studying the dismal science.  In a paper in the American Economic Journal: Applied Economics, authors Zachary Bleemer and Aashish Mehta identify the causal effects of choosing one major over another by analyzing the outcomes of a policy at the University of California,...

Black Lives Matter protests have put a spotlight on police abuses since 2014, but it has been challenging for  researchers to assess the impact of race from the available data.  In a paper in the American Economic Review, authors Mark Hoekstra and CarlyWill Sloan found that White officers use force more frequently than Black officers, especially in Black neighborhoods.  Sloan says that their work is a step toward showing that some police departments may have systemic race problems rather...