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Artificial intelligence and inflation in the EU 欧盟的人工智能和通货膨胀
IF 1.8 4区 经济学
Economics Letters Pub Date : 2025-09-25 DOI: 10.1016/j.econlet.2025.112638
Jakub Borowski , Jarko Fidrmuc , Krystian Jaworski
{"title":"Artificial intelligence and inflation in the EU","authors":"Jakub Borowski ,&nbsp;Jarko Fidrmuc ,&nbsp;Krystian Jaworski","doi":"10.1016/j.econlet.2025.112638","DOIUrl":"10.1016/j.econlet.2025.112638","url":null,"abstract":"<div><div>We investigate the influence of artificial intelligence adoption on producer price inflation across economic sectors within the European Union. We show that AI diffusion is associated with reduced inflationary pressures, with effects most statistically significant in services and the Eurozone. A 10–percentage-point increase in the share of firms employing AI corresponds, on average, to a 0.3–0.6 percentage-point decline in inflation. The association between AI adoption and inflation is nonlinear. The deflationary impact on prices is more pronounced in AI-intensive sectors. Overall, the findings suggest that the integration of AI technologies constitutes a structural force dampening inflation.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"257 ","pages":"Article 112638"},"PeriodicalIF":1.8,"publicationDate":"2025-09-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145236564","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Price Parity Clauses and platform data acquisition 价格平价条款和平台数据获取
IF 1.8 4区 经济学
Economics Letters Pub Date : 2025-09-25 DOI: 10.1016/j.econlet.2025.112635
Andreea Enache , Andrew Rhodes
{"title":"Price Parity Clauses and platform data acquisition","authors":"Andreea Enache ,&nbsp;Andrew Rhodes","doi":"10.1016/j.econlet.2025.112635","DOIUrl":"10.1016/j.econlet.2025.112635","url":null,"abstract":"<div><div>Many platforms use Price Parity Clauses (PPCs) to prevent sellers charging lower prices elsewhere. In a setting where PPCs affect platforms’ data acquisition, we show that buyers and sellers may benefit from PPCs when the market is young.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"256 ","pages":"Article 112635"},"PeriodicalIF":1.8,"publicationDate":"2025-09-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145154220","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
An options-pricing approach to forecasting the US election 用期权定价方法预测美国大选
IF 1.8 4区 经济学
Economics Letters Pub Date : 2025-09-25 DOI: 10.1016/j.econlet.2025.112632
John Fry , Steve Bennett , Thomas Hastings
{"title":"An options-pricing approach to forecasting the US election","authors":"John Fry ,&nbsp;Steve Bennett ,&nbsp;Thomas Hastings","doi":"10.1016/j.econlet.2025.112632","DOIUrl":"10.1016/j.econlet.2025.112632","url":null,"abstract":"<div><div>A subjective probability argument suggests vote-share estimates from polls can be interpreted as market prices. The corresponding election constitutes the price at a known future date. This makes an options-pricing approach particularly attractive. The approach works well for proportional systems. Here, we show how to adjust the approach for non-proportional first-past-the-post systems. We illustrate our approach with an application to the most recent 2020 and 2024 elections.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"256 ","pages":"Article 112632"},"PeriodicalIF":1.8,"publicationDate":"2025-09-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145155031","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Endogenous task allocation and intrafirm bargaining 内生任务分配与企业内部议价
IF 1.8 4区 经济学
Economics Letters Pub Date : 2025-09-24 DOI: 10.1016/j.econlet.2025.112630
Martyna Marczak , Thomas Beissinger
{"title":"Endogenous task allocation and intrafirm bargaining","authors":"Martyna Marczak ,&nbsp;Thomas Beissinger","doi":"10.1016/j.econlet.2025.112630","DOIUrl":"10.1016/j.econlet.2025.112630","url":null,"abstract":"<div><div>We develop a model that incorporates task-based production into a matching model with intrafirm wage bargaining. Unlike in existing task-based models, the representative firm derives the optimal task allocation as a function of capital and labor, rather than relative factor prices. Embedding this mechanism in a model with strategic employment choice, we show how the properties of task-level technology affect the extent of overhiring.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"256 ","pages":"Article 112630"},"PeriodicalIF":1.8,"publicationDate":"2025-09-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145155165","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Designing carbon contracts for difference under asymmetric information 信息不对称条件下的差异碳契约设计
IF 1.8 4区 经济学
Economics Letters Pub Date : 2025-09-23 DOI: 10.1016/j.econlet.2025.112599
Sanglim Lee , Gyu Hyun Kim , Taewon Suh , Jiwoong Lee
{"title":"Designing carbon contracts for difference under asymmetric information","authors":"Sanglim Lee ,&nbsp;Gyu Hyun Kim ,&nbsp;Taewon Suh ,&nbsp;Jiwoong Lee","doi":"10.1016/j.econlet.2025.112599","DOIUrl":"10.1016/j.econlet.2025.112599","url":null,"abstract":"<div><div>Carbon contracts for difference (CCfDs) are agreements where governments support costly, low-carbon projects by compensating firms based on emissions reductions. However, asymmetric information makes it hard to design efficient contracts, as firms know more about costs than governments. This paper uses mechanism design to show that optimal compensation should be non-linear and concave in emissions reductions. Existing programs, such as those in the Netherlands and Germany, are typically linear. The analysis suggests these may be inefficient and proposes a menu of two-part tariffs for better performance.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"256 ","pages":"Article 112599"},"PeriodicalIF":1.8,"publicationDate":"2025-09-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145155167","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Sectoral heterogeneity in wage stickiness and monetary policy transmission 工资粘性和货币政策传导的行业异质性
IF 1.8 4区 经济学
Economics Letters Pub Date : 2025-09-23 DOI: 10.1016/j.econlet.2025.112597
Emrehan Aktuğ
{"title":"Sectoral heterogeneity in wage stickiness and monetary policy transmission","authors":"Emrehan Aktuğ","doi":"10.1016/j.econlet.2025.112597","DOIUrl":"10.1016/j.econlet.2025.112597","url":null,"abstract":"<div><div>It is well known that introducing sectoral heterogeneity in price stickiness amplifies monetary non-neutrality in standard New Keynesian models (Carvalho, 2006). Yet, less attention has been paid to the role of heterogeneity in wage stickiness. Using industry-level data, I document a statistically significant negative correlation of –0.27 between wage and price rigidity at the 3-digit NAICS level. I then develop a multi-sector New Keynesian model that incorporates heterogeneity in both wage and price rigidities. The model shows that, depending on the correlation between sectoral wage and price rigidities, the cumulative real response to a monetary shock can either be amplified or dampened relative to a benchmark economy with only heterogeneous price rigidity. Specifically, a perfectly positive correlation between sectoral wage and price rigidities amplifies the cumulative real response by up to 14 percent, whereas a perfect negative correlation reduces it by approximately 9 percent. However, in the model empirically calibrated to the 53-sector U.S. economy, the aggregate impact of wage rigidity heterogeneity is limited, as the weak observed correlation and the influence of large, moderately rigid sectors mute the underlying transmission channel.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"256 ","pages":"Article 112597"},"PeriodicalIF":1.8,"publicationDate":"2025-09-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145155160","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Concavity of order statistics in sample size: Implications for auction design 订单统计在样本量上的凹性：对拍卖设计的启示
IF 1.8 4区 经济学
Economics Letters Pub Date : 2025-09-23 DOI: 10.1016/j.econlet.2025.112628
Mitchell Watt
{"title":"Concavity of order statistics in sample size: Implications for auction design","authors":"Mitchell Watt","doi":"10.1016/j.econlet.2025.112628","DOIUrl":"10.1016/j.econlet.2025.112628","url":null,"abstract":"<div><div>I show that the expected <span><math><msup><mrow><mi>k</mi></mrow><mrow><mi>th</mi></mrow></msup></math></span>-highest order statistic from a monotone hazard rate distribution is concave in sample size. In independent private value auctions with convex marketing costs, this ensures that the seller’s objective is concave, yielding a finite optimum.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"256 ","pages":"Article 112628"},"PeriodicalIF":1.8,"publicationDate":"2025-09-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145154311","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Inflation in transit: The freight–PPI connection 运输中的通货膨胀：运费与ppi的关系
IF 1.8 4区 经济学
Economics Letters Pub Date : 2025-09-23 DOI: 10.1016/j.econlet.2025.112637
Nektarios A. Michail , Konstantinos D. Melas
{"title":"Inflation in transit: The freight–PPI connection","authors":"Nektarios A. Michail ,&nbsp;Konstantinos D. Melas","doi":"10.1016/j.econlet.2025.112637","DOIUrl":"10.1016/j.econlet.2025.112637","url":null,"abstract":"<div><div>We examine the impact of shipping costs on the euro area producer price index, accounting for both commodities that are shipped in bulk via the use of the Baltic Dry Index, and goods that are shipped in containerships via the use of the Containership Time Charter Index. The estimates, using a Vector Error Correction Model, suggest the existence of an economically meaningful impact from shipping freight rates to manufacturer producer prices, with the effect being more pronounced for containership freight rates (approximately 0.1% per 1% increase in freight rates).</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"256 ","pages":"Article 112637"},"PeriodicalIF":1.8,"publicationDate":"2025-09-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145155164","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Rule-of-X and the retirement timing of public school teachers x法则与公立学校教师的退休时间
IF 1.8 4区 经济学
Economics Letters Pub Date : 2025-09-23 DOI: 10.1016/j.econlet.2025.112636
Dongwoo Kim, Cory Koedel, Eugenia Gorina, James Harrington
{"title":"Rule-of-X and the retirement timing of public school teachers","authors":"Dongwoo Kim,&nbsp;Cory Koedel,&nbsp;Eugenia Gorina,&nbsp;James Harrington","doi":"10.1016/j.econlet.2025.112636","DOIUrl":"10.1016/j.econlet.2025.112636","url":null,"abstract":"<div><div>Rule-of-X is a common feature of state and local pension plans in the U.S. It allows workers to retire with full benefits once their age and experience sum to the rule amount, typically between 80 and 90. We study the retirement response to Rule-of-X among Texas public school teachers, where <em>X</em> = 80. The response is substantial and leads to shorter teaching careers, likely due to a change to teachers’ pecuniary incentives and a reference-point effect. If we ignore the latter, we estimate the elasticity of the retirement response with respect to the pecuniary change is 3.3.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"256 ","pages":"Article 112636"},"PeriodicalIF":1.8,"publicationDate":"2025-09-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145155032","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Long live hall of famers? Evidence from major league baseball 名人堂万岁？来自棒球大联盟的证据
IF 1.8 4区 经济学
Economics Letters Pub Date : 2025-09-22 DOI: 10.1016/j.econlet.2025.112619
Chengyuan Hua, Brad R. Humphreys
{"title":"Long live hall of famers? Evidence from major league baseball","authors":"Chengyuan Hua,&nbsp;Brad R. Humphreys","doi":"10.1016/j.econlet.2025.112619","DOIUrl":"10.1016/j.econlet.2025.112619","url":null,"abstract":"<div><div>Understanding the impact of socioeconomic status (SES) on health outcomes represents and important economic research topic. Finding exogenous variation in SES proxy variables represents an empirical challenge. We exploit exogenous variation in outcomes in a contest, election to the Baseball Hall of Fame (HoF), to generate exogenous variation in SES. Fuzzy RDD model results show HoF election causes players to live about 2 years longer than nominated players never elected. Later employment as a baseball manager represents a plausible mechanism for this impact.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"256 ","pages":"Article 112619"},"PeriodicalIF":1.8,"publicationDate":"2025-09-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145155162","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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