Martha Bailey Reexamines the Long-Term Impacts of War on Poverty Programs in New NBER Feature

Professor Martha Bailey’s latest research, featured by the National Bureau of Economic Research (NBER), offers a comprehensive reevaluation of landmark War on Poverty programs over six decades later. Drawing on newly available large-scale data, Bailey and her collaborators investigate how initiatives like Head Start, Food Stamps, family planning, and community health centers have shaped economic mobility, health, and wellbeing for generations. Their findings reveal that these programs not only reduced poverty in the long run but also delivered substantial fiscal benefits.
Read the full article on NBER here.

UCLA Professor Pierre-Olivier Weill Publishes Book on Over-the-Counter Markets

The Princeton University Press has published a book by UCLA Professor Pierre-Olivier Weill and coauthors Julien Hugonnier and Benjamin Lester on an important yet understudied type of financial markets: Over-the-Counter Markets. Over-the-counter markets are decentralized marketplaces where financial instruments, like stocks and bonds, are traded directly between buyers and sellers, without the supervision of a central exchange.
The book can be found here.
An interview with Professor Pierre-Olivier Weill and coauthors discussing the book can be found here.

Professor Yotam Shem-Tov Awarded 2025 Sloan Research Fellowship

Portrait of Yotam Shem-Tov

We are proud to congratulate Professor Yotam Shem-Tov, one of the 2025 winners of the prestigious Sloan Research Fellowship. The Sloan Fellowships are extremely competitive awards with just a handful of recipients selected each year from among the best scientists throughout the United States and Canada.  Fellowships are awarded in the areas of Chemistry, Computer Science, Earth and Space Science, Economics, Mathematics, Neuroscience and Physics.  Candidates must be nominated by other scholars and the winners are selected by a committee of experts in the respective fields.

Professor Shem-Tov is a labor economist who studies the criminal justice system, examining such issues as the effect of sentencing practices on recidivism and the impact of incarceration on employment outcomes. Some of his most recent work, focusing on the effectiveness of restorative justice has shown that such programs can reduce recidivism rates by 23 percent.  His work has been published in leading economics journals such as Econometrica, the Journal of Political Economy, and the Review of Economics and Statistics.     

Yotam received his PhD in Economics from the University of California, Berkeley in 2019 and came to UCLA in 2020 as an assistant professor.  He teaches Undergraduate Labor Economics and a graduate course in the same field.

Yotam joins recent past Sloan winners in the Department including David Baque (2022), Natalie Bau (2022),  Denis Chetverikov (2019), and Pablo Fajgelbaum (2017).

 

Related Links:

Sloan Foundation | 2025 Sloan Foundation Research Fellowship Recipients

Sloan Foundation | 2025 Sloan Research Fellows Press Announcement

UCLA Newsroom | UCLA tops public universities in number of 2025 Sloan Research Fellows

UCLA Social Sciences NewsUCLA economics professor Yotam Shem-Tov receives 2025 Sloan Research Fellowship

Jacob Kohlhepp wins the Oliver Williamson Best Conference Paper Award

Jacob Kohlhepp, who received his Ph.D. from the UCLA economics department in 2023 and is now a Professor at the University of North Carolina, was awarded the Oliver Williamson Best Conference Paper Award for his paper “The Inner Beauty of Firms.” The award is given to the best paper presented at the Society for Institutional & Organizational Economics conference.
The award announcement can be found here.
Jacob’s paper can be found here.

Paper by UCLA Professor Pablo Fajgelbaum Featured in the Economist and Reuters

The paper “The Value of De Minimis Imports” by UCLA Professor Pablo Fajgelbaum and coauthor Amit Khandelwal (Yale) was featured in the Economist and Reuters. The paper studies the effect of subjecting imports of $800 or less, which currently enter the US duty-free, to tariffs. The paper main finding is that the cost would fall disproportionately on lower-income consumers.
The paper can be found here.
The Economist article can be found here.
The Reuters article can be found here.

Professor Dora Costa Featured in The New York Times: Exploring Historical Perspectives on American Health

Our faculty member, Professor Dora Costa, was featured in a recent New York Times article titled Have Americans Really Been Healthy?. The article explores the historical context of health in the United States, with Professor Costa providing insights into the challenges of American diets and lifestyle in the 19th and early 20th centuries. She highlights how limited access to fresh produce and cultural habits, such as heavy drinking, shaped public health during that era. Read more about her fascinating contributions in this engaging piece.

The National Institute of Health Awards UCLA Professor Adriana Lleras-Muney an R01 Grant

Adriana Lleras-Muney

Professor Adriana Lleras-Muney receives R01 Grant from the National Institute of Health for her research project “The Effect of Childhood Environments on Adult Health and Mortality”. “In the project, Professor Lleras-Muney constructs a new dataset linking individual childhood environments at a granular level to individual life spans for large representative samples of Blacks and Whites. She follows the approaches of previous work to investigate the causal effects of childhood environments on longevity.She focuses on two important areas with the potential to have large and long lasting effects on health and longevity: school and the disease environments. To estimate the impacts of school, she uses newly digitized data at the city level on the determinants of school quality (e.g. teacher pay) and follows previous approaches in the literature, but estimates them at the city level and tracks mortality outcomes for the entire lifetime of individuals. To estimate the causal effects of childhood infections, she will build on existing evidence that there was an important reduction in infectious disease mortality in cities in the 1920s due to reduced immigration and the associated improvement in living conditions that prevailed in cities. She will conduct the analysis separately by race. She will also examine the interaction of the childhood education environment and infectious disease environment on longevity and their joint effects on racial disparities.”

Paper by UCLA Professor Joao Guerreiro featured in Bloomberg

The paper “Why Do Workers Dislike Inflation? Wage Erosion and Conflict Costs” by UCLA Professor Joao Guerreiro and co-authors Jonathon Hazell, Chen Lian, and Christina Patterson was featured in Bloomberg. The paper provides a potential explanation for why workers dislike inflation. It argues that, with inflation, workers must take costly actions to ensure their nominal wages keep pace with rising prices. These costly actions reduce workers’ welfare even when their nominal wages keep up with inflation. Survey data support this explanation. The paper can be found here

The Bloomberg article here.