Economics Letters

1978 - 2026

Current editor(s): Economics Letters Editorial Office

From Elsevier
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Volume 268, issue C, 2026

Why efficient systems fail spectacularly: A unified theory of systemic risk

Bhagwan Chowdhry

Multiple monetary policy shocks from daily data: A heteroskedasticity IV approach

Marc Burri and Daniel Kaufmann

Never normal: Distributional properties of rare earth returns

Lidia Obojska, Ailie Charteris, Jan Jakub Szczygielski and Janusz Brzeszczyński

Investment dynamics and monetary policy shocks: Evidence from EMU family firms

Paolo Canofari, Alessandro Piergallini and Matteo Renghini

Seconds of price discovery: Evidence from short-dated options

Frederick H. Willeboordse

Weekday bias in daily Google Trends spike detection

Haithem Awijen

Single-step estimation of the partially linear model

Daniel J. Henderson, Nadine McCloud and Christopher F. Parmeter

The curse of sabotage - efficiency in an attacker - defender framework with gun & butter

Dripto Bakshi and Shivam Chougule

The limits of leadership advantage in Stackelberg duopoly

Toan Le

Upward pricing pressure in linked product and labor markets: Union bargaining and merger screens

Germán Bet

Procrastination traps and endogenous leadership in teams

Keisuke Hattori

Difference-in-differences with unit-specific trends: Bias in post-treatment estimates and a simple alternative

Mitch Downey

Peer-confirming equilibrium in anchor games

Shinya Sugiura

The gendered effects of rainfall shocks on stunting: evidence from Papua New Guinea

Jessica Leight, Rishabh Mukerjee and Emily Schmidt

Birth timing, stable population growth, and pay-as-you-go pensions

Jinghong Gu

Under the wing: The effect of parental proximity on intimate partner violence and underreporting

Mukhlisa Egamberdieva and Nikita Zakharov

The effect of master’s level social worker licensing reform in Illinois

Edward J. Timmons, Lawrence Han and Joshua Bandoch

Voting in the heat of the moment: Climate change salience and electoral behavior

Rafael Araujo, Leila Pereira and Rogerio Santarrosa

How default risk shapes social choice

Wolfgang Höchtl, Rudolf Kerschbamer, Philipp Kircher, Sandra Ludwig and Alvaro Sandroni

Compatibility and investment incentives in dynamic procurement

Makoto Hanazono and Susumu Sato

Large Language Model, trade threats and stock markets

Tian Yue, Zhixian Huang and Jiexiang Huang

Doing good and doing well: A CAPM with complementary ESG and financial returns

Michael P. Carniol

Investor fear, behavioural contagion, and the global dollar cycle: Evidence from BRICS currency markets

Sainandan Kandikattu and Kiran Kumar Kotha

Which demand elasticity should a monopoly use?

Lars A. Stole

Estimating exact efficiency in multi-weight spatial autoregressive stochastic frontier models

Levent Kutlu

Improved Andrews’ formula for testing changing mean

Wei Li, Xinyue Zhang and Yang Zu

Voice and distortion: When representatives misread the room

Kirill Chernomaz

Parameter-invariant unbiased estimation of individual variances and their pairwise products

Stanislav Anatolyev and Yaroslav Korobka

The reset premium: Option value under asymmetric price commitment

Harry J. Paarsch and Karl Schmedders

Three horizon-specific drivers of gold prices with Iterated Dynamic Model Averaging

Sihan Chen, Shenggang Yang and Xiaomei Lan

Generative AI-assisted investor communication and stock price crash risk

Ruinan Cao and Zongxin Zhang

Systematic forecast errors from extreme weather events in credit risk models

Stefano Bonini and Giuliana Caivano

The dismal theorem in a general equilibrium climate-economy model

Christoph Hambel and Frederick van der Ploeg

The two clocks of systemic importance

Konstantinos Tolikas

The capital-access premium and the won: Korean stablecoin premia as a leading indicator of exchange-rate pressure

Jewon Yoo

Geopolitics and the strait of Hormuz: Evidence from Middle East stock markets

Mondher Bouattour, Amine Ben Amar, Emilios Galariotis and Néjib Hachicha

The tragedy of the horizon: A contracting account

Christos Cabolis and Karl Schmedders

The growing importance of universities for patenting and innovation

Todd Schoellman and Vladimir Smirnyagin

Endogenous networks with constrained public goods

Zeyuan Wang and Masakazu Fukuzumi

Effects of oil price uncertainty on the stock returns of oil and gas companies

Elena Maria Diaz, Juncal Cunado and Fernando Perez de Gracia

Do non-financial risks compound? Evidence from U.S. industry returns

Corrado Botta

Interest rates and bank runs

Timur Magzhanov and Anton Polous

Low-cost AI and the value of compute scarcity: Evidence from the DeepSeek shock

Lingteng Zeng

Omitted instrument bias

Bora Kim and Myoung-jae Lee

Maximum resale prices across heterogeneous local markets

Øystein Foros

On the inefficiency and coalitional manipulability of stable mechanisms

Gabriela J. Denis and Juan Pablo Torres-Martínez

An auditable AI agent loop for empirical economics: A case study in forecast combination

Minchul Shin

Corporate earnings announcements and stock market bubbles

Elie Bouri, Ufuk Can, Oguzhan Cepni and Rangan Gupta

Target-driven Bayesian stacking of realised and implied volatility forecasts

Hongfei Guo, J.M. Marín and Helena Veiga

Dictator game giving: Money vs. effort — women are more generous with money but more selfish with effort

Petr Krautwurm, Lena von Deylen and Philipp C. Wichardt

Efficiency bounds for incomplete information social interaction models with network structures

Ryota Ishikawa

Trade agreements, trade facilitation and mutual recognition arrangements

Bernard Hoekman and Anirudh Shingal

Application fees and the robustness of Nash equilibria in school choice

Cyril Rouault

Geopolitical risk and inflation: Does central bank independence matter?

Whelsy Boungou, Stevy Darel Moussavou Moussavou and N’Doua, Bossoma Doriane

Diagnostic testing a time series regression with zero-one dummies

Philip Hans Franses and Mikhail Muradov

Monetary policy transmission under supply-chain disruptions: Evidence from a time-varying BVAR

Sungjun Huh and Insu Kim

Warm-glow bequests and descendant risk

Rory McGee

Narrow non-bank financial intermediation and economic growth: does the economic cycle matter?

Michelle Majid and Akeem Rahaman

Do prediction markets price events or adjudication? Evidence from the disputed Polymarket markets

Guangzhe Wang

Learning from observed matches in two-sided markets

Long, Suwan (Cheng)

Limited awareness and message feasibility in cheap talk

Zhonghao Shui, Beiqing Cui and Jian Wu

A single-axiom cardinal characterisation of quadratic utility

Leo Kurata

AI innovation and labor market polarization: Evidence from European regions

Antonio Minniti, Klaus Prettner and Francesco Venturini

Point scale framing and student performance: Evidence from a field experiment

Puneet Arora, Arihant Jain and Ishita Tripathi

Geopolitics and space access: cost asymmetries and strategic dependence

Alessio Terzi and Francesco Nicoli

Gender differences in teacher grading across school subjects: Evidence from Germany

Sebastian Otten

Revisiting patience and achievement: evidence from matched parent–child preferences

Ernan Haruvy and Ying Yang

Competitive shield or carbon burden? Evidence from equity market reactions to CBAM enforcement

Salvatore La Barbera

Policy incentives, firm investment, and debt rollover risk

Zhihao Pan and Congming Mu

Free to move? Immigration liberalization and international migration

Fabian Kuhn

Do non-binding trade promotion partnerships create trade? Evidence from UK–US state memoranda of understanding

Michael Nower

Strategy uniqueness and stock price crash risk

Xin Li and Zhenzhen Sun

Supplier competition and the incentive to purchase data

Huaxin Huang, Na Leng and Jian Ni

A note on the asymptotic unbiasedness of Akaike information criterion

Yong Li, Zhou Wu, Jun Yu and Tao Zeng

The Phillips multiplier and the two sides of inflation

Ricardo Quineche

On competitive equilibria and cores in housing market problem with one broker

Yu Gu and Yongchao Zhang

Protecting employees or replacing them? Paid sick leave mandates and firm automation

Zhihan Shen and Wenhui Huang

Bounded rationality, monetary policy, and the scars of supply shocks

Dario Bonciani, Frantisek Masek, Paolo Nanni and Giulio Tarquini

Bank market power and fire-sale amplification under earnings-based constraints

Panit Wattanakoon

When patents become collateral: Intellectual property financialization and corporate venture capital investment

Hao Zhang and Lina Shi

Multiple testing in rolling-window analysis via p-value combination

Xing Ling, Qian Wu and Kun Chen

Do Ryder Cup captains randomize? Evidence from Sunday singles orders

Daniel A. Dias

Tourist taxation, Lerner symmetry, and the double dividend

Ayumu Tanaka

Calibrating bid screens under quantity repricing

Yisang Park

Symmetrized smooth test for the equality of distributions

Peiwen Jia and Xiaojun Song

Birth rates, longevity, and monetary transmission

Seungjun Baek and Myunghyun Kim

What ties us together? Explaining synchronized GDP volatility

Javier Adrián López Artero, Lorenzo Ductor and Danilo Leiva-León

Causal forests versus penalized splines for heterogeneous treatment effects

Ivan Korolev, Abiodun Musbaudeen and Nency Dhameja

Do stock markets price words or actions? President Donald Trump´s geopolitical signals and conflict risk

Boris Pastén-Henríquez and Carlos P. Maquieira

Idle monetary policy? Evidence from monetary policy shocks for Pakistan

M. Ali Choudhary and Vasco J. Gabriel

On the bracketing relationship in staggered treatment designs

Joonho Hwang

The reverse information paradox: When AI platforms retain too much or too little data

Vijaya Bhaskar Marisetty and Varsha Mamidi

How to determine key players when spillovers are large

Yves Zenou

Macroeconomic attention and stock market volatility: Evidence from dynamic forecast combinations

Xue Gong and Rong Ma

How many sign restrictions are needed? A sharp lower bound for identifying multiple shocks in SVARs

Xuewen Yu

Common ownership with a location leader

Kenneth Fjell, John S. Heywood and Debashis Pal

The macroeconomic effects of purely forward-looking uncertainty shocks: Evidence from the euro area

Svetlana Rujin

Different institutions, different finance: Evidence from early twentieth-century China

Wanda Wang

GVC participation and inflation in the European Union

Mariam Camarero, Antonia López-Villavicencio and Cecilio Tamarit

Fiscal decentralization and the FDI–growth nexus

Damien Cubizol

Harness the power law: Robust estimation of tail index and threshold

Kailin Ding, Zhenyu Cui, Qian Pan and Lingjiong Zhu

The difficulty of telling signal from noise when noise lingers

Bhagwan Chowdhry

Cryptocurrency uncertainty and bank intermediation

Whelsy Boungou and Alhonita Yatie

Tariff shocks and land sales: evidence from China’s cities

Jiwen Guo and Jialiang Xu

Platform-wide agreements and competition for new users

Peter Boberg, Martino De Stefano, Keler Marku and Mary Beth Savio

Recent stock prices as reference points and the disposition effect

Julia Brettschneider, Giovanni Burro and Vicky Henderson

Inference for partially functional coefficient models with endogeneity

Yujian Chen, Jingrong Li, Ji-Liang Shiu and Zizhong Yan

Weaponized reputation: Experimental evidence on the misuse of coordinated punishments

Haihan Yu

A rational bubble model with momentum

Feng Liu and Joseph S. White

The price of hope: Reference-group mobility and the subjective value of income

Alpaslan Akay and Nur Banu Kartal

The 2025 U.S. tariffs on China and trade diversion to the EU

Patrick Schulte, Almira Enders, Andreas Esser and Felix Strobel

The entrepreneurship U-shape: Pattern or path?

Dragos Radu

Geopolitical risk and fiscal financing capacity in E7 economies: does institutional quality matter?

Umar Farooq, Mosab I. Tabash, Abdulrahman Alomair and Abdulateif A. Almulhim

Cryptocurrency denomination and NFT pricing

Jaehyeong Park, Euro Bae, Daegon Cho and Donghoon Kim

When trust attracts fraud: AI and trust arbitrage

Xieyu Yin and Fenghua Wen

Does equal treatment help consumers? Evidence from Amazon’s Buy Box remedy

Muxin Li

Beyond GDP tournaments: Cadre evaluation reform and sectoral credit allocation

Zeyuan Huang and Shirong Zhao

A Fisher-consistent measure of real interest rates from inflation fixing swaps

Marco Bernardini, D’Arrigo, Lara, Alessandro Lin and Andrea Tiseno

The exchange rate puzzle and the systematic component of monetary policy: Evidence from Mexico

Jesús Eduardo López-Mares, Rogelio Varela-Llamas and Juan Manuel Ocegueda-Hernández

Where machines improve: Automation direction, task boundaries, and the skill premium

Wei Xiong

The effects of allocation authority on cooperation and free-riding in sequential public goods games

Hui-Chun Peng

Does regulation bite at gateways? Evidence from MiCA and stablecoins

Nicola Borri and Kirill Shakhnov

Distribution-free bounds on double marginalization under α-concave demand

Qianqian Wen and Kayson Hu

Inductive inference for restricted stochastic dominance

David M. Kaplan and Xin Liu

Approximate omitted variable bias-adjusted confidence intervals

Deepankar Basu

Endogenous location and pricing policy: Mixed strategies make uniform pricing commitment successful

Iñaki Aguirre

Automation and the demand trap: A model of robot taxation

Yifeng He, Zhiyi He and Yong Ma

The winner’s bliss in common-value auctions under horizontal differentiation

Jiawei Chen, Anh Nguyen and Matthew Shum

The genericity of obvious manipulations under the Egalitarian Walrasian rule when preferences are linear

Pierre Bardier, Bach Dong-Xuan and Van-Quy Nguyen

Liquidity withdrawal before scheduled macroeconomic announcements

Guanchen Lv, Weidong Li and Yaqiong Zhou

Cost pressure, cash cycle, and trade credit

Anywhere Sikochi

IP governance and patent renewal decisions: Evidence from U.S. public firms

Lien, Chen-Ting (Chris) and Shao-Yin Wu