Economics Letters

1978 - 2025

Current editor(s): Economics Letters Editorial Office

From Elsevier
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Volume 249, issue C, 2025

Video-based social media and stock price crash risk: Evidence from YouTube

Woojune Jung and Hyejin Ahn

Welfare loss and policy trade-offs: Calvo vs. Rotemberg

Joonseok Oh

Disseminating healthcare providers’ performance ratings

Vi Cao

Political elections and market reactions: The ‘Trump effect’ on green stocks

Simona Cosma, Stefano Cosma, Luca Gambarelli, Daniela Pennetta and Giuseppe Rimo

Volume 248, issue C, 2025

Endowment, market potential, and spatial dynamics of industrial locations: Evidence from global shipbuilding

Chun-Yu Ho, Dan Li, Tingting Peng and Zhijia Xiao

The long-run effects of R&D subsidies on high-tech start-ups: Insights from Italy

Letizia Borgomeo, Christoph Koenig and Martina Miotto

Corrigendum to “The countdown to carbon neutrality: Implications for passive investors” [Economics Letters Volume 244 (2024) 17/112024]

Nicola Carta, Matteo Carta and Ugo Rigoni

Market size, firm size and reputation for quality

Arthur Fishman and Artyom Jelnov

Detecting cointegrating relations in non-stationary matrix-valued time series

Alain Hecq, Ivan Ricardo and Ines Wilms

Quantifying speculative-bubble effects in major European soccer leagues

John Fry and Jane M. Binner

The efficient market hypothesis when time travel is possible

Joshua S. Gans

Risk contagion in production-bank bilayer networks

Hongtao Wang and Shupei Huang

Exchange rate reaction to international organization loans and geopolitical preferences

Hugo Oriola and Jamel Saadaoui

Measuring trust across countries: Inconsistencies between experiments and surveys

Shan Jin, Sibo Yan and Xiaomeng Zhang

Modelling oil consumption in Baumeister and Hamilton’s (2019) model of the global oil market

Michał Rubaszek and Karol Szafranek

A characterization of pairwise dictatorial approbatory social welfare functions

Gustavo Santos-García and José Carlos R. Alcantud

Knight in shining armor: Ambiguity and gold prices

Cenk C. Karahan

Housing market investability and stock market participation

Huasheng Gao, Yiqing Lü, Bin Zhao and Ning Zhu

Cross-firm technological linkage and peer effects on investment efficiency

Kailin Zeng, Wen Kuang and Ebenezer Fiifi Emire Atta Mills

Is anyone surprised? The high-frequency impact of U.S. and domestic macro data announcements on Canadian asset prices

Blake DeBruin Martos, Rodrigo Sekkel, Henry Stern and Xu Zhang

Distributed governance and value creation in decentralized autonomous organizations: Evidence from a regression discontinuity design

Valerio Lo Monaco, Paul Momtaz and Silvio Vismara

Firm size and workplace diversity and inclusion

Christos Ntantamis and Jun Zhou

The targeting of economic sanctions

Simeon Djankov and Meng Su

The legal and real incidence of VAT Reforms in Mexico: Distributional effects and impacts on poverty

Aldair Rivas, Emmanuel Chávez, Irvin Rojas and Aaron Zaragoza

Is financial anxiety gendered? A cross-sectional analysis during the COVID-19 pandemic

Marvelous Kadzima, Michael Machokoto and Reon Matemane

House prices and sectoral output: A cross-country analysis

Berrak Bahadir, Inci Gumus and Zeren Tatar Taspinar

The intergenerational impact of pension reforms: How grandmothers’ pension eligibility affects daughters’ fertility

Pelin Akyol and Kadir Atalay

Trade liberalization by less developed countries with a large market size: Meager welfare gains?

Adolfo Cristóbal Campoamor

The effect of an anonymous grading reform for male and female university students

Joakim Jansson and Björn Tyrefors

Place-based policy and spillovers in the housing market

Hayoung Kim

Testing fertility rate convergence in the United States

Liam Keck, Won Sung and Junsoo Lee

Sticky information and price controls: Evidence from a natural experiment

Doron Sayag, Avichai Snir and Daniel Levy

Do institutional investor cliques prefer supply chain transparency?

Shi Li, Meng Li, Leyao Ma and Jing Ding

Volume 247, issue C, 2025

Plundered or profitably pumped-up? The effects of private equity takeover

Anders Kärnä and Samantha Myers

Validity of CARA function under expected utility

Yu Yan, Yan Tong and Yiming Wang

Agent-wise–replication invariance for random allocations

Eun Jeong Heo

The weaker player’s option to exit as a source of bargaining power in bilateral bargaining with fixed costs

Shinsuke Kambe

Natural disasters and financial technology adoption

Fernando Barros, Bruno R. Delalibera, Valdemar Pinho Neto and Victor Rangel

Geopolitical tensions and banks’ stock market performance

Whelsy Boungou and Christian Urom

To the best of both worlds: Firm's nationalism and corporate tax

Zhi Wang and Shiyuan Li

Free to work: Measuring workforce outcomes after Illinois' criminal records reforms

Darwyyn Deyo and Alicia Plemmons

Teacher personality and the perceived socioeconomic gap in student outcomes

Giorgio Brunello, Clementina Crocè, Pamela Giustinelli and Lorenzo Rocco

International competition laws and trade credit financing

Adelaide Dak-Adzaklo

Does supply chain finance improve firms’ ESG performance?

Shaohua Wang, Hong Hu and Hong Fan

From chain to capital: Supply chain risks and working capital management

Nhan Huynh and Quynh Nga Le

Bank efficiency and liquidity creation in the Euro Area: A Bayesian approach

Antonio Fabio Forgione, Carlo Migliardo and Marco Spadaro

Does customer corporate financialization have contagion effects on their suppliers?

Yan Zhao and Kun Su

Climate crisis on energy bills: Who bears the greater burden of extreme weather events?

Xue Lei and Xueguo Xu

Debt beliefs and public support for restrictive fiscal rules

Jaroslaw Kantorowicz and Katarzyna Metelska-Szaniawska

Bias in estimating returns to tenure: The impact of monopsony power

Andy Snell, Jonathan P. Thomas and Pedro Martins

The interaction between personalized pricing and multi-item purchases: A random utility model approach

Qiuyu Lu and Noriaki Matsushima

How do geopolitical risks and uncertainty shape US consumer confidence?

Moustapha Badran, Mohamed Awada, Joanna Darwiche and Whelsy Boungou

Bilateral invoicing currency ratios: A methodology to calculate them from unilateral invoicing currency ratios

Yushi Yoshida and Fabien Rondeau

Heterogeneity and macroeconomic state dependence in the spending response to stimulus

Woongchan Jeon and Kieran James Walsh

Where technology meets tax: The impact of digital tax administration on tax incentive take-up

Chao Lin, Kaili Ma and Xing Zhang

The impact of heterogeneous consumption and productivity expectations on factor risk premia

Christian Bauer, Paul Symann and Dennis Umlandt

A reflection on the reflection example

Pavlo Blavatskyy

Asymmetric cost behavior and financial distress

Agha Mureed Ahemed, Umer Iqbal and Mian Muhammad Atif

Energy uncertainty index and European banks

Whelsy Boungou, Bastien Dufau, Mahdi Fawaz and Devi Prasad Dash

Human capital investments in a democracy

Stylianos Papageorgiou and Dimitrios Xefteris

News sentiment and investment risk management: Innovative evidence from the large language models

Tong Liu and Yanlin Shi

Free food for thought: The effect of universal free school meals on graduation rates in the US

Vivian Zhao

Forecasting retail fuel prices with spatial interdependencies

Adam Clements and Jesús Otero

Guilt aversion and inequality in dictator games

Pierpaolo Battigalli, Giovanni Di Bartolomeo and Stefano Papa

Silent generosity: The impact of regulatory distance on silent donations

Yuan Zhong, Xiaobing Lai and Lei Tan

Investment and endogenous efficiency in a contest

Derek J. Clark, Tapas Kundu and Tore Nilssen

Portfolio hedging through a novel equity index based on the verified emissions of EU ETS-regulated firms

Mattia Chiappari, Francesco Scotti and Andrea Flori

Referral network and consumer trust

Yuk-fai Fong, Tsz-him Lau, Xiaoxuan Meng and Lin Zhao

A parsimonious model for zero inflation at the zero lower bound

Yuta Takahashi and Naoki Takayama

Indirect news coverage and economic policy uncertainty

Jiaying Wu and Fang Xu

Electing for stability: Democracy and output volatility, 1960-2019

Emanuele Millemaci, Fabio Monteforte and Jonathan R.W. Temple

Calculating effective degrees of freedom for forecast combinations and ensemble models

James Younker

Intermediate import diversification, knowledge source diversity and firm innovation: Micro-level evidence from Chinese listed companies

Wei Yun, Jie Cao and Shangbin Liu

Payoff equivalence in sealed bid auctions and the dual theory of choice under risk: A correction

Oscar Volij

Optimal monetary policy under fairness concerns in pricing

Toyoichiro Shirota

Wastefulness in sequential school choice with public and private schools

Tommy Andersson, Umut Dur, Sinan Ertemel and Onur Kesten

Indirect and direct forecasting of volatility-timing portfolios

Xiaodu Xie

Exit expectations and the optimal design of a currency union

Yuta Saito

The true gender pay gap: Accounting for the distribution of unpaid labour

Louisa Roos

A characterization of the top-trading-cycles mechanism for housing markets via respecting-improvement

Bettina Klaus, Flip Klijn and Jay Sethuraman

A simple proof of Blackwell’s theorem on the comparison of experiments for a general state space

M. Ali Khan, Haomiao Yu and Zhixiang Zhang

Unlocking operational efficiency: How AI human capital investment enhances data processing efficiency?

Yongda Liu and Zhuang Zhang

Corporation social responsibility and dynamic agency under jump risk

Yu Shi, Dandan Song and Pengfei Luo

Green investors and the return on capital in general equilibrium

Sijmen Duineveld, Christoph Hambel and Kai Lessmann

Green bonds and intelligent manufacturing: Evidence from listed firms in China

You Zhou, Xiaohan Li, Zhijing Wu, Jian Wu and Hui Li

Liquidity in the euro area sovereign bond market during the “dash for cash” driven by the COVID-19 crisis

Vassilios Papavassiliou and Fan Dora Xia

Measuring inconsistency in analyst reports

Jun Wang and Xing Chen

Group size, member selection, and performance: Evidence from legislative elections in Brazil

Vinicius Lima

Economic outcomes of gender diverse people: New evidence from linked administrative data in New Zealand

Christopher S. Carpenter, Linda Kirkpatrick, Maxine J. Lee and Alexander Plum

The effect of current health on time allocation and cognitive production

Mohammad Ali and Kira M. Villa

Too hot to learn? Evidence from high school dropouts in Brazil

Francisco Costa and Diana Goldemberg

Inventory decisions under political violence

Cláudia Custódio, Bernardo Mendes and Diogo Mendes

Characterizing TTC via endowments-swapping-proofness and truncation-proofness

Jacob Coreno and Di Feng

The real cost channel and the Phillips Curve for China

He Nie, Jiarui Yao and Haoan Wang

The heterogeneous effects of technology shocks. Evidence from the Czech Labour market

Monika Junicke, Jakub Matějů, Haroon Mumtaz and Angeliki Theophilopoulou

Group conflict, group composition, and policy convergence

Karl Wärneryd

The properness of weak stability notions

Luosai Zhang

Has corporate greed driven inflation in the European Union? An analysis of the food and beverage industry

Maximilian Koppenberg, Stefan Wimmer and Stefan Hirsch

On the uniqueness of the mixed equilibrium in the Tullock contest

Christian Ewerhart

The balance of probabilities vs. the balance of harms in merger control

Yossi Spiegel

120 years of insight: Geopolitical risk and bank solvency

Markus Behn, Jan Hannes Lang and Alessio Reghezza

The effects of tax cuts and financing subsidies on environmentally and financially constrained firms

Tuyue Chen, Congming Mu and Shengzhuo Tang

The comeback effect: Market responses to Trump's 2024 election victory

Shaker Ahmed, Mostafa M. Hasan, Ashrafee T. Hossain and Samir Saadi

Two-part tariff, demand uncertainty and double marginalization: An experiment

Olivier Bonroy, Alexis Garapin and Nicolas Pasquier

Quantifying the geopolitical risk resilience of commodity futures markets

Jie Yang, Hao Yang and Yun Feng

Financial literacy and financial education: The role of irreversible costs

Alessandro Bellocchi and Giuseppe Travaglini

Endogenous growth driven by government spending under quasi-hyperbolic discounting

Minwook Kang

A better Sahm rule? Introducing the SOS recession indicator

John O'Trakoun and Adam Scavette

Supply chain constraints and the predictability of the conditional distribution of international stock market returns and volatility

Elie Bouri, Oguzhan Cepni, Rangan Gupta and Ruipeng Liu

A modified wild bootstrap procedure for Laplace transforms of volatility

Ulrich Hounyo, Zhi Liu and Rasmus T. Varneskov

Pathologies of iterated strict dominance revisited

Xuewen Qian and Chen Qu

The reality of consumption: Comparing self-reported and observed marginal propensity to consume

Kozo Ueda

Information matrix tests for multinomial logit models

Dante Amengual, Gabriele Fiorentini and Enrique Sentana

Childhood obesity and air pollution: Evidence from China

Ziyue Wang, Mary Evans, Huixia Wang and Si Wang

Abortion ballot measures affect election outcomes

Graham Gardner, Kayleigh McCrary and Melissa K. Spencer

AI and employment in Europe

Dario Guarascio and Jelena Reljic

Non-parametric tests of output- and cost-sharing games

Banzhaf, H．Spencer and Yaqin Liu

Substituting one risk increase for another: Extension and application

Jianli Wang, Hongxia Wang and Jingyuan Li

Do fixed-prize lotteries crowd out intrinsically-motivated public good contributions?

Peter Katuščák and Tomáš Miklánek

Nationalistic bias in experts’ player ratings in football

Christer Thrane

Corporate carbon emissions and financial performance: A flexible copula-based model to address non-random sample selection

Luca Zanin

Decomposing the welfare gains from trade

Paolo Bertoletti and Federico Etro

The impact of term spread volatility on economic activity

Anastasios Megaritis, Dimitrios Bakas, Theodora Bermpei and Athanasios Triantafyllou

The impact of Nasdaq-100, U.S. Dollar Index and commodities on cryptocurrency: New evidence from Augmented ARDL approach

Fuzuli Aliyev and Neman Eylasov

Managing government debt, taxes and public investment

Juan Peng, Zian Tang, Jinqiang Yang and Zhanhao Zhang

Can supply chain finance policies enhance SMEs' Financial positions?

Xueqin Hu

Supply-side elasticities as determinants of optimal carbon taxation

Simon Christiansen and Cecilie Marie Løchte Jørgensen

Jacobian-free Efficient Pseudo-Likelihood (EPL) algorithm

Takeshi Fukasawa

Testing the convexity hypothesis in nonparametric cost functions

Kristiaan Kerstens and Shirong Zhao

Bounds for average treatment effect on couples with an application to the retirement-consumption puzzle

Eduardo Fé

Reducing labour market flexibility: A causal inference study on reform in The Netherlands

Kamalika Patra, Nora Neuteboom, George Kapetanios and Alexia Ventouri

The impact of Trump’s victory on equity markets: The power of proximity

Fabrizio Ferriani, Andrea Giovanni Gazzani and Marco Taboga

The vehicle value externality

Gernot Sieg and Berthold U. Wigger

Does geopolitical risk raise or lower corporate credit spreads?

He Huang and Yancheng Qiu

Ethereum's Merge: Market liquidity, efficiency and volatility in the Proof of Stake Era

Bin Liu, Tina Prodromou, Sandy Suardi and Caihong Xu

Stablecoins, money market funds and monetary policy

Iñaki Aldasoro, Giulio Cornelli, Massimo Ferrari Minesso, Leonardo Gambacorta and Maurizio Michael Habib

Do China's greenfield foreign direct investments promote short-term innovation output growth in host countries?

Jing Fang, Fanjie Fu, Xiaolin Yang and Shujie Yao

Investment horizons and ESG decoupling: Distinct roles of long-term and short-term institutional investors

Yasser Eliwa and Mohamed E. Elmaghrabi

From digital to innovative: How does digital transformation affect corporate innovation?

Yi Qiao, Xiaorong Li and Juncheng Hu

Biodiversity risk and seasoned equity offerings

Xiaohui Liu, Yulin Li and Chandrasekhar Krishnamurti

Is nature of inflation co-movement time-varying? Insights from a dynamic factor model

Saban Nazlioglu, Tugba Akin, Sinem Pinar Gurel and Sevcan Gunes