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Boosting donation and welfare: Augmenting donor-priority rule with information provision 促进捐赠和福利：通过信息提供增强捐赠者优先规则
IF 2.4 2区 经济学
European Economic Review Pub Date : 2026-01-01 Epub Date: 2025-10-24 DOI: 10.1016/j.euroecorev.2025.105181
Min Fang , Mengling Li , Yohanes E. Riyanto
{"title":"Boosting donation and welfare: Augmenting donor-priority rule with information provision","authors":"Min Fang ,&nbsp;Mengling Li ,&nbsp;Yohanes E. Riyanto","doi":"10.1016/j.euroecorev.2025.105181","DOIUrl":"10.1016/j.euroecorev.2025.105181","url":null,"abstract":"<div><div>The global organ shortage poses significant welfare challenges. This study examines policy interventions to incentivize deceased organ donor registration and enhance welfare, focusing on donor-priority incentives and information provision. Our laboratory experiment reveals that granting allocation priority to registered donors boosts donor registration but reduces welfare due to adverse selection. Delaying the timing of donor-priority benefits improves welfare by enhancing donation quality but reduces the registration rate. Augmenting donor-priority rule with information provision proves more effective, simultaneously increasing donor registration and welfare. These findings highlight the potential of combining donor-priority incentives with information provision to alleviate organ shortages while promoting efficiency and social welfare.</div></div>","PeriodicalId":48389,"journal":{"name":"European Economic Review","volume":"181 ","pages":"Article 105181"},"PeriodicalIF":2.4,"publicationDate":"2026-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145475376","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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
The distribution of national income in Germany, 1992–2019 1992-2019年德国国民收入分配
IF 2.4 2区 经济学
European Economic Review Pub Date : 2026-01-01 Epub Date: 2025-10-10 DOI: 10.1016/j.euroecorev.2025.105149
Stefan Bach , Charlotte Bartels , Theresa Neef
{"title":"The distribution of national income in Germany, 1992–2019","authors":"Stefan Bach ,&nbsp;Charlotte Bartels ,&nbsp;Theresa Neef","doi":"10.1016/j.euroecorev.2025.105149","DOIUrl":"10.1016/j.euroecorev.2025.105149","url":null,"abstract":"<div><div>This paper estimates and analyzes the distribution and composition of pre-tax national income in Germany since reunification, combining personal income tax returns, household survey data, and national accounts. We find that pre-tax national income inequality has increased since the 1990s, though to a lesser extent than suggested by previous studies. Our results draw parallels in top income structure and concentration to the United States: Half of the top 1% earners are non-corporate business owners in labor-intensive professions contrasting with corporate top incomes in France. Also the concentration of pre-tax national income in Germany is similar to the United States and higher than in France.</div></div>","PeriodicalId":48389,"journal":{"name":"European Economic Review","volume":"181 ","pages":"Article 105149"},"PeriodicalIF":2.4,"publicationDate":"2026-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145419638","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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
Estimating euro area output gap dynamics: Evidence from the updated Area-Wide Model Database 估计欧元区产出缺口动态：来自更新的全区域模型数据库的证据
IF 2.4 2区 经济学
European Economic Review Pub Date : 2026-01-01 Epub Date: 2025-10-30 DOI: 10.1016/j.euroecorev.2025.105179
Mahmut S. İpek , Burçin Kısacıkoğlu
{"title":"Estimating euro area output gap dynamics: Evidence from the updated Area-Wide Model Database","authors":"Mahmut S. İpek ,&nbsp;Burçin Kısacıkoğlu","doi":"10.1016/j.euroecorev.2025.105179","DOIUrl":"10.1016/j.euroecorev.2025.105179","url":null,"abstract":"<div><div>We estimate the output gap for the euro area and 20 member countries using a variety of statistical models, based on 55 years of data. We also update the Area-Wide Model Database (AWMD) through 2025Q2, ensuring it remains publicly accessible. Our key findings are: (1) while statistical models broadly agree on the timing of the peaks and troughs, uncertainty persists about the business cycle’s exact state due to differing estimates of the potential output, (2) statistical and institutional estimates generally align but diverge on the size of the output gap, (3) the output gaps of the five largest euro area countries are strongly correlated with each other and the overall euro area. Our work provides an important tool for understanding the business cycle dynamics of Europe’s economy and offers a reliable, official output gap measure for policymakers and economists.</div></div>","PeriodicalId":48389,"journal":{"name":"European Economic Review","volume":"181 ","pages":"Article 105179"},"PeriodicalIF":2.4,"publicationDate":"2026-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145475369","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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
The role of macroprudential policy in times of trouble 宏观审慎政策在困难时期的作用
IF 2.4 2区 经济学
European Economic Review Pub Date : 2026-01-01 Epub Date: 2025-10-17 DOI: 10.1016/j.euroecorev.2025.105178
Jagjit S. Chadha , Germana Corrado , Luisa Corrado , Ivan De Lorenzo Buratta
{"title":"The role of macroprudential policy in times of trouble","authors":"Jagjit S. Chadha ,&nbsp;Germana Corrado ,&nbsp;Luisa Corrado ,&nbsp;Ivan De Lorenzo Buratta","doi":"10.1016/j.euroecorev.2025.105178","DOIUrl":"10.1016/j.euroecorev.2025.105178","url":null,"abstract":"<div><div>We investigate whether macroprudential policies support broader economic stability, particularly the welfare of households. For this purpose, we develop a New Keynesian business cycle model with agents subject to credit constraints and asset price fluctuations. The model differentiates between savers, who own firms and banks, and borrowers. The commercial bank sets the loan rate as a function of risk, specifically the value of housing collateral. We use occasionally binding constraints to capture non-linearities arising from the zero lower bound (ZLB) on the policy interest rate and the borrowing constraint faced by borrower households. We examine two macroprudential tools: a countercyclical loan-to-value (LTV) ratio and a bank reserve requirement. We find that macroprudential tools significantly reduce the volatility of consumption and lending cycles, and decrease both the expected frequency and severity of ZLB episodes. More generally, by attenuating the variance of the business cycle, particularly for borrower households, macroprudential tools reduce the need for monetary policy interventions.</div></div>","PeriodicalId":48389,"journal":{"name":"European Economic Review","volume":"181 ","pages":"Article 105178"},"PeriodicalIF":2.4,"publicationDate":"2026-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145475370","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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
Spatial consumption risk sharing 空间消费风险分担
IF 2.4 2区 经济学
European Economic Review Pub Date : 2025-11-01 Epub Date: 2025-10-10 DOI: 10.1016/j.euroecorev.2025.105163
Prateek Arora , Dongwan Choo , Chenyue Hu
{"title":"Spatial consumption risk sharing","authors":"Prateek Arora ,&nbsp;Dongwan Choo ,&nbsp;Chenyue Hu","doi":"10.1016/j.euroecorev.2025.105163","DOIUrl":"10.1016/j.euroecorev.2025.105163","url":null,"abstract":"<div><div>This paper investigates how bilateral economic linkages influence consumption synchronization across economies in response to idiosyncratic shocks. Using the US state-level data, we find the degree of bilateral consumption smoothing to decrease with geographic distance. To explain this fact, we develop an open economy DSGE model that incorporates trade, migration, and finance as channels of risk sharing subject to bilateral frictions that potentially covary with distance. Calibrated to the US data, this structural model enables us to examine interactions of different channels in general equilibrium and quantify their impacts on states’ consumption. Through counterfactual exercises, we find that turning off the three channels weakens consumption correlations across states in general, while trade is more effective than migration and financial channels in stabilizing consumption fluctuations.</div></div>","PeriodicalId":48389,"journal":{"name":"European Economic Review","volume":"180 ","pages":"Article 105163"},"PeriodicalIF":2.4,"publicationDate":"2025-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145325956","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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
Women in economics: The role of gendered references at entry in the profession 经济学中的女性：职业入门时性别参考的作用
IF 2.4 2区 经济学
European Economic Review Pub Date : 2025-11-01 Epub Date: 2025-10-11 DOI: 10.1016/j.euroecorev.2025.105155
Audinga Baltrunaite , Alessandra Casarico , Lucia Rizzica
{"title":"Women in economics: The role of gendered references at entry in the profession","authors":"Audinga Baltrunaite ,&nbsp;Alessandra Casarico ,&nbsp;Lucia Rizzica","doi":"10.1016/j.euroecorev.2025.105155","DOIUrl":"10.1016/j.euroecorev.2025.105155","url":null,"abstract":"<div><div>We study the presence and the extent of gender differences in reference letters for graduate students in economics and finance, and how they relate to early labor market outcomes. To these ends, we build a novel rich dataset and combine Natural Language Processing techniques with standard regression analysis. We find that men are described more often as standout and women as grindstone, i.e., hardworking and diligent; these differences are mainly driven by male letter writers, especially more senior ones. We then show that the former (latter) characteristics relate positively (negatively) with various subsequent career outcomes and that women obtain lower positive (marginally larger negative) returns from being described as standout (grindstone). We argue that, taken together, this evidence is consistent with the presence of implicit gender stereotypes as driving the observed differences in the way candidates are described.</div></div>","PeriodicalId":48389,"journal":{"name":"European Economic Review","volume":"180 ","pages":"Article 105155"},"PeriodicalIF":2.4,"publicationDate":"2025-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145325828","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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
Speculating in zero-value assets: The greater fool game experiment 零价值资产投机：大傻瓜游戏实验
IF 2.4 2区 经济学
European Economic Review Pub Date : 2025-11-01 Epub Date: 2025-10-16 DOI: 10.1016/j.euroecorev.2025.105180
Armando Holzknecht , Jürgen Huber , Michael Kirchler , Tibor Neugebauer
{"title":"Speculating in zero-value assets: The greater fool game experiment","authors":"Armando Holzknecht ,&nbsp;Jürgen Huber ,&nbsp;Michael Kirchler ,&nbsp;Tibor Neugebauer","doi":"10.1016/j.euroecorev.2025.105180","DOIUrl":"10.1016/j.euroecorev.2025.105180","url":null,"abstract":"<div><div>In a pre-registered laboratory asset market study, we investigate dynamics of asset markets with zero (or close to zero) fundamental values. We introduce the “greater fool asset market game” with a zero-value token, whose price doubles in each period. We design several treatments, which differ in terms of whether the fundamental value is zero for sure (<span>Baseline</span>), and whether the very low probability of non-zero fundamentals is known (<span>Risk</span>) or not (<span>Ambiguity</span>). We find that prices in markets with zero fundamental value are clearly above zero. Furthermore, we report that prices in treatment <span>Ambiguity</span> are substantially higher than those in treatments <span>Baseline</span> and <span>Risk</span>. Finally, we show that beliefs regarding the asset’s value and others’ participation explain individual market participation.</div></div>","PeriodicalId":48389,"journal":{"name":"European Economic Review","volume":"180 ","pages":"Article 105180"},"PeriodicalIF":2.4,"publicationDate":"2025-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145364100","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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
Leadership and cooperation in a sequential Prisoner’s Dilemma 顺序囚徒困境中的领导与合作
IF 2.4 2区 经济学
European Economic Review Pub Date : 2025-11-01 Epub Date: 2025-10-11 DOI: 10.1016/j.euroecorev.2025.105160
Eberhard Feess , Steffen Lippert , Jamie Martini-Tibbs , James Tremewan
{"title":"Leadership and cooperation in a sequential Prisoner’s Dilemma","authors":"Eberhard Feess ,&nbsp;Steffen Lippert ,&nbsp;Jamie Martini-Tibbs ,&nbsp;James Tremewan","doi":"10.1016/j.euroecorev.2025.105160","DOIUrl":"10.1016/j.euroecorev.2025.105160","url":null,"abstract":"<div><div>In a sequential Prisoner’s Dilemma, conditional cooperation creates an incentive to move second. However, choosing to move first can signal strong social preferences, potentially increasing cooperation when players care not only about actions but also about what those actions reveal about their partners’ social preferences. To examine this, we use the psychological game framework to disentangle the effects of observed actions from those of beliefs about partner preferences. The model yields a separating equilibrium in which players with strong social preferences move first. It predicts that endogenous sorting outperforms exogenous sorting when self-selection is hidden. Full transparency about endogenous sorting may backfire if players forced to move first infer selfish motives and defect. Yet, our experimental data show that transparency is optimal: it boosts incentives to move first and raises cooperation among second movers, without reducing cooperation among those compelled to move first. We also find a notable gender difference, as female subjects are more attuned to the signaling value of moving first.</div></div>","PeriodicalId":48389,"journal":{"name":"European Economic Review","volume":"180 ","pages":"Article 105160"},"PeriodicalIF":2.4,"publicationDate":"2025-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145325966","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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
Parental love is not blind: Identifying selection into early school start 父母的爱不是盲目的：识别选择进入早期学校开始
IF 2.4 2区 经济学
European Economic Review Pub Date : 2025-11-01 Epub Date: 2025-09-20 DOI: 10.1016/j.euroecorev.2025.105145
Ainoa Aparicio Fenoll , Nadia Campaniello , Ignacio Monzón
{"title":"Parental love is not blind: Identifying selection into early school start","authors":"Ainoa Aparicio Fenoll ,&nbsp;Nadia Campaniello ,&nbsp;Ignacio Monzón","doi":"10.1016/j.euroecorev.2025.105145","DOIUrl":"10.1016/j.euroecorev.2025.105145","url":null,"abstract":"<div><div>Do parents take into account their children’s ability when deciding on their education? If so, are parents’ perceptions accurate? We study this by analyzing a key educational decision. Parents choose whether their children start elementary school one year early. Do they select high-ability children to start early? We propose a novel methodology to identify the sign and strength of selection into early starting. We find robust evidence of positive selection. Had they started regularly, early starters would have obtained test scores 0.2 standard deviations higher than the average student. We also estimate the effect of early starting on test scores and find that the effect is heterogeneous.</div></div>","PeriodicalId":48389,"journal":{"name":"European Economic Review","volume":"180 ","pages":"Article 105145"},"PeriodicalIF":2.4,"publicationDate":"2025-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145120264","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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
Efficient forward trade fosters innovation, investment, and resiliency 高效的远期贸易促进创新、投资和弹性
IF 2.4 2区 经济学
European Economic Review Pub Date : 2025-11-01 Epub Date: 2025-10-01 DOI: 10.1016/j.euroecorev.2025.105158
Peter Cramton , Axel Ockenfels
{"title":"Efficient forward trade fosters innovation, investment, and resiliency","authors":"Peter Cramton ,&nbsp;Axel Ockenfels","doi":"10.1016/j.euroecorev.2025.105158","DOIUrl":"10.1016/j.euroecorev.2025.105158","url":null,"abstract":"<div><div>We propose a forward energy market design for Germany's electricity sector as an alternative to traditional capacity mechanisms. Drawing on two decades of U.S. experience, we point out the disadvantages of centralized capacity auctions and decentralized capacity obligations. Our forward energy market design enables transparent trading of granular energy products up to 48 months in advance through hourly batch auctions. In this design, load-serving entities have purchase obligations that increase from 0% to 100% of the realized load as the delivery date approaches. Unlike traditional capacity markets, which perpetuate spot market inefficiencies, our mechanism strengthens price signals, improves risk management, and enhances system resilience by providing efficient price discovery and clear investment signals. It also offers a robust, no-regret pathway to fostering innovation and demand flexibility, which are crucial for the energy transition.</div></div>","PeriodicalId":48389,"journal":{"name":"European Economic Review","volume":"180 ","pages":"Article 105158"},"PeriodicalIF":2.4,"publicationDate":"2025-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145325826","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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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