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Economics

El Salvador Adopted Bitcoin as an Official Currency; Salvadorans Mostly Shrugged

In an effort to boost financial inclusion, El Salvador made Bitcoin an official currency and offered incentives for adopting it. A new study co-authored by Yale SOM’s David Argente and Diana Van Patten found that a lack of trust caused use of the cryptocurrency to fall off quickly.

A Bitcoin ATM in San Salvador in 2021. 
  • Our Most-Read Stories of 2023

    This year, Yale SOM research examined sustainable investing, the dynamics of social media, the role of race in school discipline, and the complexities of airline pricing. And faculty offered expertise on issues in the news, including the changing workplace, noncompete agreements, the politics of ESG investing, the effectiveness of masks, the collapse of Silicon Valley Bank, and the Barbie movie phenomenon.

    A collage of illustrations and photographs
  • Modeling the Path Toward Creativity

    Creative insight may appear to arrive in a flash, says Yale SOM economist Jonathan Feinstein, but the eureka moment typically emerges from a foundation built over years. Feinstein’s new book modeling creativity is itself the result of an early interest and decades of exploration.

    Prof. Jonathan Feinstein in the classroom
  • Lower-Income Employees Are More Likely to Remain at 401(k) Defaults, Even If It Costs Them Money

    Automatically enrolling employees in retirement plans is a powerful tool for increasing savings. But Yale SOM’s James Choi and his coauthors find that once enrolled, people with lower incomes are more likely to remain at default contribution rates, even if they aren’t optimal.

    An illustration of currency being cut in half as it is put into a piggy bank
  • The Conversations on an Anonymous Economics Forum Are Troubling—and Elite Schools Are Part of the Problem

    Yale SOM’s Paul Goldsmith-Pinkham and Kyle Jensen and their former colleague Florian Ederer presented a study showing that anonymous racist and sexist posts on the popular Economics Job Market Rumors website were coming from top universities.

    An illustration of a person wearing a mortar board sitting in front of a computer in the dark
  • Video: Dating, Marriage, Parenting, and the Gender Wage Gap

    Women earn 79 cents for every dollar that men make. But look beyond that widely cited statistic, and you’ll find a complex story of causes, effects, and correlations. Prof. Mushfiq Mobarak surveys the literature on the subject and argues that, to close the gap, we need to address society’s differing expectations around who bears the burden of family and parenting responsibilities.

    An illustration of a woman thinking about earnings and family
  • Bringing the Economist’s Tool Kit to the Policies that Shape Markets 

    Katja Seim, the Sharon Oster Professor of Economics and Management, investigates the complex forces behind the infrastructure of everyday life with an aim of enabling data-driven improvement to policy tools and making markets function better.

    Katja Seim
  • Is Dynamic Airline Pricing Costing Us?

    Prices for airline tickets rise and fall depending on demand. Yale SOM’s Aniko Öry and Kevin Williams investigated whether such pricing makes airlines and customers better off.

    An illustration of airplanes with algorithms in their wake
  • R&D Investment Can Have Multiplier Effects—If It’s Made in the Right Industries 

    A new study co-authored by Prof. Song Ma finds that allocating research funding to certain scientific fields can have long-term ripple effects across sectors and countries.

    An illustration of an integrated circuit with plants growing out of it.
  • The End of Noncompete Agreements May Be Near

    Earlier this month, the Federal Trade Commission unveiled a proposal that would block companies from limiting their employees’ ability to work for a rival through noncompete agreements. We asked Yale SOM’s Fiona Scott Morton about the ban’s potential impact on wages, innovation, and the economy as a whole.

    A drawing of a bird escaping a cage
  • Will the Fed Keep Raising Rates?

    We asked Prof. William English, a former Fed official, to interpret the announcements at the Federal Open Market Committee’s monthly meeting last week.

    Federal Reserve Board chairman Jerome Powell answering questions at a news conference.