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��ࡱ�>�� z\����y��������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������u �r�xbjbj�n�n2,��a��aj �������""������������8�4-�,nlaaaaauuu�m�m�m�m�m�m�m$�o�nr<�m�uuuuu�m��aa4�m   u��a�a�m u�m   a������w]�r�����? �m�m0,n �r[f�r  v0�r��juu uuuuu�m�m�luuu,nuuuu���������������������������������������������������������������������ruuuuuuuuu"q s: journal of political economy volume 131, issue 4, april 2023 1. title: heterogeneity and asset prices: an intergenerational approach. authors: g�rleanu, nicolae; panageas, stavros. abstract: in an overlapping-generations economy, the consumption growth of a given cohort member (the "marginal agent") differs from the aggregate consumption growth. a cohort member is faced with long-run consumption uncertainty even in the absence of aggregate (and within-cohort) consumption risk. this uncertainty allows the model to account for several stylized asset-pricing facts (high market price of risk and volatility, return predictability, low and nonvolatile interest rate) despite deterministic macroeconomic aggregates and inequality measures that are contemporaneously uncorrelated with asset returns. we devise and implement a methodology to measure the marginal agent's consumption growth and evaluate the model's quantitative implications. 2. title: distinctively black names and educational outcomes. authors: kreisman, daniel; smith, jonathan. abstract: names can convey information about race or ethnicity and therefore can be used to discriminate against protected groups; many researchers have demonstrated as much through audit studies. yet few studies link life outcomes with names using observational data. we use administrative data from over 3 million black students to ask whether those with more statistically black names have differential educational outcomes. we find that while test scores, college enrollment, and college completion are negatively correlated with black names net of background characteristics, this relationship is absent when we compare across siblings within households. 3. title: social networks with unobserved links. authors: lewbel, arthur; qu, xi; tang, xun. abstract: we point-identify and estimate linear social network models without observing any network links. the required data consist of many small networks of individuals, such as classrooms or villages, with individuals who are each observed only once. we apply our estimator to data from tennessee's project star (student-teacher achievement ratio). without observing the latent network in each classroom, we identify and estimate peer and contextual effects on students' performance in mathematics. we find that peer effects tend to be larger in bigger classes and that increasing peer effects would significantly improve students' average test scores in some classes. 4. title: self-fulfilling prophecies, quasi nonergodicity, and wealth inequality. authors: bouchaud, jean-philippe; farmer, roger e. a. abstract: we construct a model of an exchange economy in which agents trade assets contingent on an observable signal, the probability of which depends on public opinion. the agents in our model are replaced occasionally, and each person updates beliefs in response to observed outcomes. we show that the distribution of the observed signal is described by a quasi-nonergodic process and that people continue to disagree with each other forever. these disagreements generate large wealth inequalities that arise from the multiplicative nature of wealth dynamics, which makes successful bold bets highly profitable. 5. title: race, representation, and local governments in the us south: the effect of the voting rights act. authors: bernini, andrea; facchini, giovanni; testa, cecilia. abstract: the voting rights act of 1965 redefined race relations in the united states. yet evidence on its effect on black office holding remains scant. using novel data on black elected officials between 1962 and 1980, we assess the impact of the voting rights act on the racial makeup of local governments in the deep south. exploiting predetermined differential exposure of southern counties to the mandated federal intervention, we show that the latter fostered local black office holding, particularly in the powerful county commissions, controlling local public finances. in the presence of election by district, covered counties experienced black representation gains and faster capital spending growth. 6. title: the multidimensional impact of teachers on students. authors: petek, nathan; pope, nolan g. abstract: test score measures of teacher quality may not fully capture teachers' impact on students. we use test score and non�test score measures of student achievement and behavior to estimate multiple dimensions of teacher quality. we find that these two measures of teacher quality are only weakly correlated and that both affect students' high school performance. a teacher removal simulation that uses both measures improves most long-term student outcomes by over 50%, compared to a policy that uses test scores alone. our results also show that for high school outcomes the effects of teachers in later grades are larger than those in earlier grades and that performance in core elementary school subjects matters more than that in other subjects.     $'/02578<=>@i���ʸʩʗ��vbzm?1hk(hk(5�ojqj^jh�"�hu<�5�ojqj^jh�ud5�ojqj^jo(h�"�h�"�o(&h�"�h�"�5�cjojqj^jajo(#h~�h~�5�cjojqj^jajh 2e5�cjojqj^jaj#hx$vhx$v5�cjojqj^jajhx$v5�cjojqj^jaj#h4�h4�5�cjojqj^jaj#h�"�h�"�5�cjojqj^jaj h$-�5�cjojqj^jajo(#hk(hk(5�cjojqj^jaj=>?��� � �  ��� ���5�� 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