Economics

The economics academic area includes faculty that study a broad range of topics in their discipline, including economic theory, industrial organization, labor economics, macroeconomics, econometrics, environmental economics, and international trade.

The economic faculty bring ideas from economic research (both their own and those from the broader community of economic scholars) to the classroom.

The group teaches principles of economics and statistics in managerial foundations classes, as well as applications of economics in classes on strategy, public policy, human resource management, global management, and other topics.

The rigorous application of economic principles permeates the MBA, Stanford MSx, and Executive Education curricula. The economics area extends its impact beyond Stanford by publishing, by educating PhD students, and by influencing public policy.

Recent Journal Articles in Economics

Rebecca Diamond, Timothy James McQuade
Journal of Political Economy (forthcoming).
2019

We estimate the spillovers of properties financed by the Low Income Housing Tax Credit (LIHTC) onto surrounding neighborhood residents. We nonparametrically estimate the impact of LIHTC development on nearby house...

Nicholas A. Bloom, Philip Bunn, Scarlet Chen, Paul Mizen, Pawel Smietanka, Greg Thwaites, Gary Young
Fiscal Studies. December
2018, Vol. 39, Issue 4, Pages 555-580

The UK’s decision to leave the EU in the 2016 referendum created substantial uncertainty for UK businesses. The nature of this uncertainty is different from that of a typical uncertainty...

Takuo Sugaya, Alexander Wolitzky
Journal of Political Economy. December
2018, Vol. 126, Issue 6, Pages 2569-2607

It is conventional wisdom that transparency in cartels—monitoring of competitors’ prices, sales, and profits—facilitates collusion. However, in several recent cases cartels have instead worked to preserve the privacy of their...

Daron Acemoglu, Ufuk Akcigit, Harun Alp, Nicholas A. Bloom, William Kerr
American Economic Review. November
2018, Vol. 108, Issue 11, Pages 3450-3491

We build a model of firm-level innovation, productivity growth, and reallocation featuring endogenous entry and exit. A new and central economic force is the selection between high- and low-type firms,...

Charles I. Jones, Jihee Kim
Journal of Political Economy. October
2018, Vol. 126, Issue 5, Pages 1785-1826

Top income inequality rose sharply in the United States over the last 40 years but increased only slightly in France and Japan. Why? We explore a model in which heterogeneous...

James Liang, Hui Wang, Edward Lazear
Journal of Political Economy. October
2018, Vol. 126, Issue S1, Pages S140-S196

Entrepreneurship requires energy and creativity as well as business acumen. Some factors that contribute to entrepreneurship decline with age, but business skills increase with experience in high-level positions. Having too...

Journal Article|
James Heckman, Edward Lazear, Kevin Murphy
Journal of Political Economy. October
2018, Vol. 126, Issue S1, Pages S1-S6

The article focuses on the life and works of American economist and social scientist Gary Becker, who believed that economics could and should tackle serious social problems. According to the...

Alain C. Enthoven, Laurence Baker
Health Affars. September
2018, Vol. 37, Issue 9, Pages 1425-1430

Managed competition is a concept that was bom in California and has achieved a measure of acceptance there. As California and the United States as a whole continue to struggle...

Guido W. Imbens
Social Science & Medicine. August
2018, Vol. 210, Pages 50-52

Deaton and Cartwright (2018) view the increasing popularity of randomized experiments in social sciences with some skepticism. They are concerned about the quality of the inferences in practice, and fear that...

Rachel Baker, Eric Bettinger, Brian Jacob, Ioana Marinescu
Economics of Education Review. August
2018, Vol. 65, Pages 18-30

An important goal of community colleges is to prepare students for the labor market. But are students aware of the labor market outcomes in different majors? And how much do...