Yale Department of Economics

‘We’re in a better place’: Has the time for a unified global carbon market finally arrived? In a Q&A, Yale economist Rohini Pande explains why a voluntary carbon market initiative adopted during the COP30 climate conference in Belém can help make emissions reduction cost effective — and promote innovation in the world’s developing nations.

As we kick off the fall semester, join us in welcoming our new faculty members to Yale!

These new colleagues bring expertise across many fields of economics that will enrich our research environment, enhance the student learning experience, and foster collaborations across the Department, its research centers, and the larger university community. We are delighted to welcome them to our faculty!

Joining us for Fall 2025 are Professor Leah Boustan, Assistant Professor Cody Cook, Professor Janet Currie, Professor Navin Kartik, Lecturer and Associate Research Scientist Maria Kogelnik, Assistant Professor Victoria Marone, Lecturer Theofanis Papamichalis, Senior Lecturer and Senior Research Scientist Marius Ring, and Lecturer Rohen Shah.

Earlier this year, we also welcomed Visiting Professor and Senior Research Scientist Bentley MacLeod and Lecturer Teresa Delgado, who both joined the Department in Spring 2025.

Learn more about their backgrounds and research:

The Department of Economics Welcomes New Faculty for Fall 2025

📣 Applications are open for the IDE Masters Program 📣

Join us for an informational session about the International and Development Economics Master's program hosted by EGC & Yale Department of Economics.

📅 Wednesday, August 20: Two sessions: 8AM & 2PM ET
💻 Register for the 8AM session: https://yale.zoom.us/s/96899267601
💻 Register for the 2PM session: https://yale.zoom.us/s/99609469695

The IDE Program is a one-year Master's program that helps students build the necessary toolkit for embracing obstacles in their future careers in international development.

📖 Read more about the program at the IDE website: https://economics.yale.edu/ide-ma-program

📖 Meet some recent grads and learn more about the program: https://egc.yale.edu/news/yale-ide-program-prepares-students-careers-international-development

We're proud to announce an outstanding cohort of undergraduate economics Peer Mentors for 2025-2026: Johanna Dammann, Ellie Jiang, Sonia Jin, Kylie Kim, and Megan Wright.

Learn more about the program and the Mentors here:

The Department of Economics Announces Five Peer Mentors for 2025-2026

Join us in welcoming Leah Boustan to Yale! She joins as a Professor of Economics and Director of the Economic History Program at the Yale Economic Growth Center (EGC).

Professor Boustan’s research lies at the intersection between economic history and labor economics: Are immigrants more or less upwardly mobile than native-born US citizens? Do they displace American workers or reduce their wages? Were earlier waves of immigration somehow different, in terms of their economic effects?

Unfortunately, most of the popular answers to these questions lack hard data to support them. Her work seeks to address these evidence gaps and debunk immigration myths through innovative data analysis. Much of her research focuses on the economic and cultural effects of immigration, utilizing both historical and contemporary data.

Learn more about her background and research in Yale EGC's latest Faculty Spotlight:

Leah Boustan on debunking immigration myths with data New EGC affiliate Leah Boustan analyzes US historical data to evaluate contemporary narratives around immigration.

Leah Boustan on debunking immigration myths with data New EGC affiliate Leah Boustan analyzes US historical data to evaluate contemporary narratives around immigration.

Join us in congratulating Steve Berry, who was recently appointed the Sterling Professor of Economics—the highest academic honor a Yale University professor can receive.

A leading figure in the fields of industrial organization and applied microeconomics, Berry joined Yale in 1988 and is the inaugural director of the Yale Tobin Center for Economic Policy. Berry oversaw the creation of the Tobin Center and the establishment of policy-oriented research programs in areas such as health, environment, education, consumer finance, and market competition.

His research is among the most cited and influential work in economics in the last two decades and is frequently incorporated into merger and other policy decisions by public and private sector agencies.

Read more from Yale News:

Berry named Sterling Professor of Economics Steven Berry, a leading figure in the fields of industrial organization and applied microeconomics, is among the most cited and influential work in economics in the last two decades.

Hospitals are gobbling up physician practices—and health care prices are rising as a result.

Over the last two decades, physician-hospital integration has surged—from 27.5% to 47.2%—and reshaped the market for physician services. New research out today in the National Bureau of Economic Research shows that these vertical mergers between hospitals and physician practices are driving up physician and hospital prices. For example, two years after a hospital buys an OB-GYN practice, prices for labor and delivery are up by $475, an increase of 3.3%. Physician prices are up $502, an increase of 15.1%.

Unfortunately, there has been virtually no antitrust enforcement against these mergers in the health sector at either the federal or state level.

The Tobin Center's latest Policy Brief summarizes the research and provides key takeaways for policymakers: https://tobin.yale.edu/research/hospitals-are-gobbling-physician-practices-and-health-care-prices-are-rising-result
See coverage in Axios: https://www.axios.com/2025/07/21/hospital-consolidation-doctor-practice-cost
Read the NBER Paper: https://www.nber.org/papers/w34039

Research by Zack Cooper (Yale University), Stuart Craig (Wisconsin School of Business), Aristotle Epanomeritakis (Harvard Business School), Matthew Grennan (Emory University Department of Economics), Joseph Martinez (University of California, San Francisco), Fiona Scott Morton (Yale School of Management), and Ashley Swanson (University of Wisconsin-Madison)