International consumption risk sharing studies have largely ignored their models' counterfactual implications for asset returns although these returns incorporate direct market measures of risk. In this paper, we modify a canonical risk-sharing model to generate more plausible asset return...

International consumption risk sharing studies have largely ignored their models' counterfactual implications for asset returns although these returns incorporate direct market measures of risk. In this paper, we modify a canonical risk-sharing model to generate more plausible asset return...

Although fake online customer reviews have become prevalent on platforms such as Amazon, Google, and Facebook, little is known about how these reviews influence consumer behavior. This paper provides the first experimental estimates of the effects of fake reviews on individual demand and...

We compare the behavior and welfare effects of two popular interventions for resource conservation. The first intervention is social comparison reports (SC), which primarily provide consumers with information motivating behavioral change. The second intervention is real-time feedback (RTF),...

We measure the heterogeneous welfare effects of the recent inflation surge across households in the Euro Area. A simple framework illustrating the numerous channels of the transmission mechanism of surprise inflation to household welfare guides our empirical exercise. By combining micro data and...

Green hydrogen may decarbonize sectors which are difficult to electrify, and the recent Inflation Reduction Act (IRA) provides tax credits to encourage hydrogen production. We analyze a model in which hydrogen produced using electricity replaces natural gas. The electricity may be procured from...