Working Papers

From University of Toronto, Department of Economics
150 St. George Street, Toronto, Ontario.
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2026: Multiproduct Multimarket Price Competition under Capacity Constraints

Bingyao Liu and Yao Luo

2026: The Geography of Market Power: Evidence from the Chinese Steel Industry

Loren Brandt, Feitao Jiang, Yao Luo and Yingjun Su

2026: Nested Pseudo-GMM Estimation of Demand for Differentiated Products

Victor Aguirregabiria, Hui Liu and Yao Luo

2026: Between the Invisible Hand and the Grabbing Hand: The Ebb and Flow of China's Growth

Xiaodong Zhu

2026: Aggregate Employment and the Rise of Services across Time and Countries

Margarida Duarte and Diego Restuccia

2026: Efficient Bilateral Trade under Sequential Revelation

Bin Liu, Jingfeng Lu and Xianwen Shi

2026: Optimal Insurance with Information Asymmetry: Nonlinear and Linear Pricing

Xia Han, Bin Li and Yao Luo

2026: Generic Measures of Distributional Peakedness, Locational Differences and Modally Focused Kurtosis and Relative Variation Coefficients: Tools for Mode-based Analyses

Gordon Anderson

2025: On Assessing the Importance of the Mode: Generic Measures of Distributional Peakedness, Mean-Modal Differences and Modally Focused Kurtosis

Gordon Anderson

2025: More Access, More Competition: Unintended Consequences of Public Education Expansion in China

Shenglong Liu, Yuanyuan Wan, Shengxiang Xie and Xiaoming Zhang

2025: Nonparametric Uniform Inference in Binary Classification and Policy Values

Nan Liu, Yanbo Liu, Yuya Sasaki and Yuanyuan Wan

2025: On Productivity and Distortions across Countries

Diego Restuccia

2025: Generative AI in Action: Using AI to Scaffold Economic Writing Skill Development

Nazanin Khazra and Victoria Sheldon

2025: Bayesian Persuasion without Commitment

Itai Arieli and Colin Stewart

2025: Optimal Climate Policy with Incomplete Markets

Thomas Douenne, Sebastian Dyrda, Albert Jan Hummel and Marcelo Pedroni

2025: The Micro and Macro Productivity of Nations

Stephen Ayerst, Duc Nguyen and Diego Restuccia

2025: Informality, Inflation, and Fiscal Progressivity in Developing Countries

Daniel Jaar and Joao Ritto

2025: Mean Location and Gini-like Inequality measures for Multivariate Ordinal Variates: Examining the Progress of Health Outcomes in Pre Covid United Kingdom

Gordon Anderson

2025: Improving Judicial Protection in Intimate Partner Violence Cases: The Role of Specialized Courts and Judges

Carolina Arteaga, Gustavo Bobonis, Paola Salardi and Dario Toman

2025: The Opportunity Cost of a PhD: Spending your Twenties

Dwayne Benjamin, Boriana Miloucheva and Natalia Vigezzi

2025: Efficient Estimation of Structural Models via Sieves

Yao Luo and Peijun Sang

2025: What Occupations Do

William Arbour and David Price

2025: Imperfect Competition and Rents in Labor and Product Markets: The Case of the Construction Industry

Kory Kroft, Yao Luo, Magne Mogstad and Bradley Setzler

2025: Misallocation in Indian Agriculture

Marijn Bolhuis, Swapnika Rachapalli and Diego Restuccia

2025: On Transiting to a Sustainable World Population: Lessons from an Overlapping Generations Model on the associated Problems, Prospects and Time Horizons

Gordon Anderson

2025: The employment effects of a pandemic wage subsidy

Michael Smart, Matthew Kronberg, Josip Lesica and Huju Liu

2025: The Effects of Layoffs on Opioid Use and Abuse

Marius Morthorst, David Price and Peter Thingholm

2025: Stochastic Sequential Screening

Hao Li and Xianwen Shi

2025: Optimal Discriminatory Disclosure

Yingni Guo, Hao Li and Xianwen Shi

2025: Persuading while Learning

Itai Arieli, Yakov Babichenko, Dima Shaiderman and Xianwen Shi

2025: Welfare of Competitive Price Discrimination with Captive Consumers

Yanlin Chen, Xianwen Shi and Jun Zhang

2025: Magic Mirror on the Wall, Who Is the Smartest One of All?

Yoram Halevy, Johannes Hoelzemann and Terri Kneeland

2024: Should Expected or Most Likely Returns be the Focus in Investment Decisions? Introducing “Most Likely†Versions of Sharpe and Sortino Ratios

Gordon Anderson and Oliver Linton

2024: Sequential entry into electoral competition when the possibility of ties is limited

Martin Osborne

2024: What if Expected Outcomes are not The Most Likely Outcomes? Four Basic Case Studies[1] Which Give Pause for Thought

Gordon Anderson

2024: How Real is Hypothetical? A High-Stakes Test of the Allais Paradox

Uri Gneezy, Yoram Halevy, Brian Hall, Theo Offerman and Jeroen van de Ven

2024: Optimal Trade and Industrial Policies in the Global Economy: A Deep Learning Framework

Zi Wang, Xingcheng Xu, Yanqing Yang and Xiaodong Zhu

2024: The Role of Nonemployers in Business Dynamism and Aggregate Productivity

Pedro Bento and Diego Restuccia

2024: The Micro and Macro Productivity of Nations

Stephen Ayerst, Duc Nguyen and Diego Restuccia

2024: Comment on a passage in "Why did the West extend the franchise? Democracy, inequality, and growth in historical perspective" by Daron Acemoglu and James A. Robinson

Martin Osborne

2024: Symposium on Misallocation and Structural Transformation: Introduction

Tasso Adamopoulos and Diego Restuccia

2024: Order Statistics Approaches to Unobserved Heterogeneity in Auctions

Yao Luo, Peijun Sang and Ruli Xiao

2024: Distortions, Producer Dynamics, and Aggregate Productivity: A General Equilibrium Analysis

Stephen Ayerst, Loren Brandt and Diego Restuccia

2024: A Sharp Test for the Judge Leniency Design

Mohamed Coulibaly, Yu-Chin Hsu, Ismael Mourifie and Yuanyuan Wan

2024: Misallocation in Indian Agriculture

Marijn Bolhuis, Swapnika Rachapalli and Diego Restuccia

2024: China's Productivity Challenge

Xiaodong Zhu

2024: The Anatomy of Chinese Innovation: Insights on Patent Quality and Ownership

Philipp Böing, Loren Brandt, Ruochen Dai, Kevin Lim and Bettina Peters

2024: Assessing misallocation in agriculture: plots versus farms

Fernando Aragon, Diego Restuccia and Juan Rud

2024: Health, Health Insurance, and Inequality

Chaoran Chen, Zhigang Feng and Jiaying Gu

2024: Taryn versus Taryn (she/her) versus Taryn (they/them): A Field Experiment on Pronoun Disclosure and Hiring Discrimination

Taryn Eames