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

Stefan J. Reichelstein, Gunther Glenk
Nature Energy. February
25 , 2019, Vol. 4, Pages 216-222

The recent sharp decline in the cost of renewable energy suggests that the production of hydrogen from renewable power through a power-to-gas process might become more economical. Here we examine...

Journal Article|
Jae Song, David J. Price, Faith Guvenen, Nicholas A. Bloom, Till von Wachter
The Quarterly Journal of Economics. February
1 , 2019, Vol. 134, Issue 1, Pages 1-50

We use a massive, matched employer-employee database for the United States to analyze the contribution of firms to the rise in earnings inequality from 1978 to 2013. We find that...

Liran Einav, Stephanie Lee, Jonathan Levin
Health Economics. February
2019, Vol. 28, Issue 2, Pages 261-279

Workplace wellness programs have become increasingly common in the United States, although there is not yet consensus regarding the ability of such programs to improve employees’ health and reduce health...

Susan Athey, Stefan Wager, Julie Tibshirani
Annals of Statistics.
2019, Vol. 47, Issue 2, Pages 1148-1178

We propose generalized random forests, a method for nonparametric statistical estimation based on random forests (Breiman [Mach. Learn. 45(2001) 5–32]) that can be used to fit any quantity of interest identified...

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

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...