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Just as we did last year, we enlisted some of the greatest minds in economics today, including two Nobel prize winners.We asked these economists to name the study they thought was the most important or intriguing of 2018, along with their thoughts on the research.This is a very careful piece on the earliest stage of “building a criminal record,” showing how the system is more forgiving of kids in cities where people tend to be white and well off.”Institution of authors: Federal Reserve Board Main finding: Whether an American’s parents are rich is even more predictive of how wealthy their children will be than we thought.
Nominating economist: Susan Athey, Stanford University Specialization: The economics of technology Why?
“Susan Dynarski and coauthors wrote a paper about a powerful intervention aimed at low-income high school students applying to college.
From previous research, the authors hypothesized that many low-income students choose not to apply to selective colleges because of various frictions, including filling out complex financial aid paperwork, and incorrectly believe that they may have a low chance of success.
The intervention involved sending high achieving, low-income students a letter telling them that they would be admitted and receive a full scholarship to the University of Michigan if they applied.
“‘Randomized control trials are considered the “gold standard” of economic evaluation research.
Yet, many people assigned to treatment status do not comply.
Just like films and albums, economics deserves a little year-end reflection.
To identify the economics research that mattered most in 2018, Quartz decided to call in some help.
A field experiment finds that the BTB policy increased, rather than decreased, racial disparities in job applicant call-backs.”)Institution of authors: University of California, Los Angeles Main finding: Growing up in an affluent neighborhood leads to better economic outcomes as an adult.
Nominating economist: James Heckman, University of Chicago, winner of the 2000 Nobel prize in economics Specialization: Econometrics and education Why?