Pete Klenow

📢 Call for papers! SITE 2026 Session 15: "Causes & Consequences of Misallocation" at Stanford GSB, Aug 31–Sep 1. Theory + empirics welcome. Deadline: June 15 Submit: economics.stanford.edu/site/paper-sub… w/ @TheMichaelBlank @PeteKlenow @sarapfmoreira

Thesis defended ✅ Immensely grateful to my advisors for their mentorship and unwavering support. Thrilled to be joining @JHUEconomics after a one-year postdoc at @YaleCowles

📢 Michael Peters, Pascual Restrepo and I are organizing the NBER SI 2026 group on Macro-Development and Economic Growth (taking over the legacy of @LagakosDavid , @ufukakcigit and Paco). Send us your best papers! Deadline: March 26, 11:59pm EST Link: conference.nber.org/confsubmit/bac…

As a fan of @TheEconomist, a newspaper started in 1843 on the issue of trade, it is super cool to appear in their print edition. (Updated version of earlier web essay on the Supreme Court decision.)

Conference on "The Long-Run Implications of Deglobalization," October 9, 2026 at Stanford. Please submit your paper by May 31! sites.google.com/view/mppconfer…

@bryced8 @ChadJonesEcon This is unbelievably good! @ChadJonesEcon couldnt' have made it better himself.

@ChadJonesEcon Claude make this AI paper into a song. Make no mistakes. suno.com/s/0LMZ0Ks6wpTi…

"AI and Our Economic Future" New paper in preparation for the Journal of Economic Perspectives ==> accessible to a broad audience. web.stanford.edu/~chadj/AIandEc…

Customer overlaps could be a very useful proxy for diversion ratios, from @liraneinav, Mariana D. Guido, and @PeteKlenow nber.org/papers/w34693

🧮📉🧠⚖️🌍 Why 2 + 2 doesn’t always equal 4 in economics: Measuring welfare beyond income ❗️You won’t believe the results 📌The study by @jeanfbrou, @ChadJonesEcon and @PeteKlenow aims to measure the welfare gap between Black and White Americans by going beyond income alone and jointly considering key dimensions of quality of life, including consumption, life expectancy, incarceration, and leisure. 📌The central question is straightforward: Even if income gaps narrow, does the true welfare gap also close? Consumption-equivalent welfare: Black vs. White Americans- Income converges, welfare does not |^ı^| #Income and consumption gaps narrow over time, but the #welfare gap closes much more slowly. |^ı^| By the 2020s, relative earnings reach about 84%, while relative welfare remains at only around 59%. |^ı^| This divergence shows that income alone is insufficient to explain welfare differences. Relative welfare decomposition: What really drives the welfare gap?” |^ı^| Life expectancy is the largest and most persistent contributor to the welfare gap. |^ı^| Incarceration has a strong negative effect, especially after the 1990s. |^ı^| Even as consumption improves, health and justice-related factors offset economic gains. 🔍 Noteworthy findings *-* Income equality ≠ welfare equality. *-* Gaps in health, longevity, and the criminal justice system prevent economic growth from translating into lived well-being. *-* Policies that focus solely on wages are unlikely to close the overall welfare gap. Source: Brouillette, J.-F., Jones, C. I., & Klenow, P. J. (2025). Race and economic well-being in the United States. AER: Insights, 7(4), 429–446.

New paper (work in progress): "Past Automation and Future AI: How Weak Links Tame the Growth Explosion" with @ChrisTonetti. web.stanford.edu/~chadj/JonesTo… 1/N

Measuring welfare via @aeajournals

Surprised the tariff impact hasn’t been even larger? One reason: delays and exceptions mean the actual rate is only half the announced rate.  This and more in a new working paper with @BrentNeiman. Read the paper here: brentneiman.com/research/GN2.p…, online appendix: brentneiman.com/research/GN2_A…

I couldn't be more excited to share that submissions to 𝐉𝐅: 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 & 𝐏𝐞𝐫𝐬𝐩𝐞𝐜𝐭𝐢𝐯𝐞𝐬 are finally open! Insights are short (<7,000 words) high quality pieces. Perspectives outline promising future research directions. afajof.org/jfip-submissio…

Chris Tonetti and I are organizing a growth conference in SF Fed on Feb 26, 2026. Submit before Dec 31st! @PeteKlenow @ChadJonesEcon

Congratulations @skalemliozcan! My dear friend and the 'Hermione Granger' economist of our generation. She must have a Time-Turner to pull off everything she does. What a star!

So glad this is out. Our tribute to Bob Lucas at the JPE.

Economics Journals as Tennis Tournaments 🧵(for an extremely niche audience) Quarterly Journal of Economics = Wimbledon The oldest and most influential event, but also clubby, snobby, and elitist. To win it you must train on a very particular surface/ZIP code.

I’m delighted to receive this award! Janet Yellen has been a great inspiration for me. Thank you to the @sffed for the honor and encouragement!

BREAKING NEWS The Royal Swedish Academy of Sciences has decided to award the 2025 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel to Joel Mokyr, Philippe Aghion and Peter Howitt “for having explained innovation-driven economic growth” with one half to Mokyr “for having identified the prerequisites for sustained growth through technological progress” and the other half jointly to Aghion and Howitt “for the theory of sustained growth through creative destruction.” #NobelPrize