Published in Annual Review of Economics
We review the current state of the estimation of dynamic stochastic general equilibrium (DSGE) models. After introducing a general framework for dealing with DSGE models, the state-space representation, we discuss how to evaluate moments or the likelihood function implied by such a structure. We discuss, in varying degrees of detail, recent advance...
Published in Annual Review of Economics
This review considers conceptual issues underlying empirical work on markets. It is divided in three parts. The first part reviews the analysis of demand and equilibrium in retail markets and then considers recent advances in the analysis of markets that require different assumptions: markets where adverse selection and moral hazard may be importan...
Published in Annual Review of Economics
This article reviews recent developments in the study of firm and industry dynamics, with a special emphasis on the econometric endogeneity of market structure. The endogeneity of market structure follows from the presence of serially correlated unobservable shocks to the profitability of firms’ dynamic decisions, a feature common to many empirical...
Published in Annual Review of Economics
This article reviews recent developments in the econometrics of early childhood human capital and investments. We start with a discussion about the lack of cardinality in test scores, the reasons it matters for empirical research on human capital, and the approaches researchers have used to address this problem. Next, we discuss how the literature ...
Published in Annual Review of Economics
Modern trade agreements no longer emphasize basic trade liberalization but instead focus on international policy coordination in a much broader sense. In this review we introduce the emerging literature on the political economy of such deep integration agreements. We organize our discussion around three main points. First, the political conflict su...
Published in Annual Review of Economics
In representative democracies, a variety of rules are employed to select and retain public officials to reflect public preferences over policies. We discuss the literature on selection and retention rules for government officials, focusing on low-information offices. First, we overview the historical origins and the scope of the variation in select...
The concept of emotional labor has been very useful for elucidating how the expansion of a service economy perpetuated new forms of work that maintained gender divisions and inequalities. Research has been slower to catch up to the ways that emotional labor has racial implications as well, but recent studies are making important contributions and m...
Living sociology refers to the life of sociology, seen as a field of competing scientific research programs. The dynamism of each program requires, on the one hand, engaging internal contradictions and external anomalies and, on the other hand, extended dialogue among the programs themselves. Living sociology also refers to the life of sociologists...
Studies of populism have shifted from substantive to discursive/performative and institutional perspectives in recent decades. This shift resolved some long-standing problems but insulated the analysis of populism from theoretical and methodological debates in the social sciences. Theoretical restrictions have gone hand in hand with geographica...
Despite decades of progress, the future of life expectancy in the United States is uncertain due to widening socioeconomic disparities in mortality, continued disparities in mortality across racial/ethnic groups, and an increase in extrinsic causes of death. These trends prompt us to scrutinize life expectancy in a high-income but enormously un...
