The editors would like to thank the following who have acted as referees in the year 2025. The work of referees is vital to maintain the high quality of our journal.

Jan Aart Scholte

Anna Abatayo

Raziiakhan Abdieva

Mohamad Abdulkarim

Joshua Abor

Rafael Acevedo

Antonis Adam

Zoltan Adam

Kwami Adanu

Richard Adelstein

Abreham Adera

Binay Adhikari

Oscar Afonso

Seven Agir

Abel Agoba

Manuel Agosin

Luís Aguiar Santos

Abdelkader Aguir

Alvaro Aguirre

Mahyudin Ahmad

Faisal Ahmed

Junaid Ahmed

Syed Ahsan

Toke Aidt

Matthias Aistleitner

Folorunsho Ajide

Ayca Akarcay

Yusaf Akbar

Hoda Alaeddine

Alain Alcouffe

Luigi Aldieri

José Alejandro Peres-Cajías

Fiona Alexander

Douglas Allen

Andrew Allison

Felipe Almeida

Mohammad Alomari

Jose Alonso

Eric Alston

Bora Altay

Utku Altunoz

Angel Alvarado

Inmaculada Alvarez

Bruno Amable

Angela Ambrosino

Yasir Amin

Joshua Ammons

Ebenezer Anarfo

Martin Andersson

Per Andersson

Corrado Andini

Luca Andriani

Friday Anetor

Cristiano Antonelli

Nick Apergis

Ablam Apeti

Zosie Archibald

Marta Arespa

Benito Arruñada

Paschalis Arvanitidis

Naeem Ashraf

Gaygysyz Ashyrov

Jeovan Assis Silva

David Audretsch

Svetlana Avdasheva

Ariane Avila

Amitai Aviram

Désiré Avom

Pablo Ayala Villalobos

Ozgur Aydogmus

Adedoyin Babajide

Kihwan Bae

Luca Bagnato

Tajana Barbic

Thomas Barnebeck Andersen

Illan Barriola

Omar Bashar

Giovanni Battista Ramello

Giandomenica Becchio

Roman Beck

Lukas Beck

Joshua Bedi

Michael Behrent

Clifford Bekar

Renaud Bellais

Filippo Belloc

Alessandro Belmonte

Andrea Bender

Katarzyna Bentkowska

Edoardo Beretta

Niclas Berggren

Andreas Bergh

Brahim Bergougui

Giancarlo Bertocco

Saradindu Bhaduri

Nalin Bharti

Federico Bianchi

Jos Bijman

Gabor Biro

Christian Bjørnskov

Margaret Blair

William Blomquist

Dieter Boegenhold

Peter Boettke

Dan Bogart

Ivan Boldyrev

Thomas Bolognesi

Daniela Bolzani

Stephen Bottomley

Christopher Boudreaux

Jamal Bouoiyour

Brent Boyea

Pascal Boyer

Natalia Bracarense

Anne Bradley

Samuel Brazys

Jason Brennan

Dermot Breslin

Olivier Brette

Peter Brok

Daniel Bromley

Graham Brownlow

Randolph Bruno

Maksym Bryukhanov

Clemens Buchen

Ricardo Buitrago

Chei Bukari

Fabio Bulfone

Mykola Bunyk

Theodore Burczak

Tancredi Buscemi

Pedro Bustamante

Ricardo Bustillo

Robert Butler

Per Bylund

Stefanie Börner

Benjamin Bürbaumer

Gonzalo Caballero

Nicolas Cachanosky

Louison Cahen-Fourot

Xinyu Cai

Peter Calcagno

Justin Callais

Nadia Campaniello

Rosolino A. Candela

John Cantwell

Andrea Caracausi

Art Carden

José Carlos Orihuela

Scott Carson

Federica Carugati

Vanessa Casadella

Sara Casagrande

Mark Casson

Eve Castille

James Caton

Augusto Cerqua

Massimo Cervesato

Julien Chaisse

Ting-Ting Chang

Jonathan Chapman

Virgile Chassagnon

Cléo Chassonnery-Zaïgouche

Huirong Chen

Chaoyi Chen

Daniel Chiquiar

Carolyn Chisadza

Alberto Chong

Stephen Chrisomalis

Cornelius Christian

Dimitris Christopoulos

Stanislaw Cichocki

Bronwyn Coate

Mario Coccia

Daniel Cole

Roger Congleton

Carlo Cordasco

Simon Cordery

Fabrizio Coricelli

Aad Correlje

Metin Cosgel

Sofia Cossar

Clément Coste

Nick Cowen

Michael Cox

Christopher Coyne

Ricardo Crespo

Douglas Cumming

Dean Curran

Thomas Currie

Bryan Cutsinger

Giorgio d’Agostino

Anna D’Ambrosio

Fernando D’Andrea

Yue Dai

Bruno Damiano Silipo

Thibault Darcillon

Nimai Das

Sandip Datta

Sinclair Davidson

John Davis

Ann Davis

Leila Davis

Bruno de Conti

Giuseppe De Feo

Jakob de Haan

Eelke de Jong

Martin de Jong

Tine De Moor

Bert De Munck

Luiz de Oliveira

Simon Deakin

James Dean

Frank Decker

Erwin Dekker

Vincent Delabastita

Daria Denti

Jérôme Deyris

Giuseppe Di Vita

David Diaconu

Issa Dianda

Manoj Dias-Abey

Claude Diebolt

Bogdan Dima

Valentina Dimitrova-Grajzl

Kara Dimitruk

Jiawen Ding

Emin Dinlersoz

Barbara Dluhosch

Wilfred Dolfsma

Thomas Donaldson

Richard Doner

Alexander Donges

Natalia Dore

Elodie Douarin

John Dove

Gregory Dow

Luu Duc Toan Huynh

Cédric Durand

Romain Dureau

Amitava Dutt

Pritha Dutta

Richard E. Wagner

Peter Earl

David Ehrhardt

Nina Eichacker

Levan Elbakidze

Tarek Eldomiaty

Wolfram Elsner

David Emanuel Andersson

Christoph Engel

Patricia Engloibar

Timur Ergen

Aaron Erlich

Korkut Erturk

Louisa Estadieu

Ivan Etzo

François Facchini

Ana Faria

Anna Faria

Beáta Farkas

Kevin Farnsworth

Etienne Farvaque

Thiago Fauvrelle

Jan Fałkowski

Tate Fegley

Yanchao Feng

William Ferguson

Viviana Fernandez

Alexandra Ferreira-Lopes

Adrián Ferreras

Rosemarie Fike

Emila Filippi

Eric Fina Kamani

John Finch

Sven Fischer

Partrick Fitzsimmons

Ian Fletcher

Anna Flowers

Guilherme Fowler de Avila Monteiro

Ewout Frankema

Sabine Franklin

Cristian Frasser

Brett Frischmann

Daniil Frolov

Zhijun Gao

Jason Garcia Portilla

Antonio García-Sánchez

Giampaolo Garzarelli

Vincent Geloso

Sriparna Ghosh

Monisha Ghosh

Victoria Gierok

Anthony Gill

David Gindis

Nicola Giocoli

Marco Giraudo

Christian Gläßel

Zachary Gochenour

Agustín Goenaga

Victor Goldberg

Nathan Goodman

Yugank Goyal

Johan Graafland

Quentin Grafton

Peter Grajzl

Elliott Green

Alan Green

Robin Grier

Todd Griffith

Laura Grube

Klaus Gründler

Francesco Guala

Francesco Guidi Bruscoli

Erkan Gurpinar

Stefanie Haeffele

Kamran Hakiman

John Hall

Lauren Hall

Abigail Hall

Naciba Haned

Jan Hanousek

Andy Hanssen

Shaun Hargreaves Heap

Sophie Harnay

David Harper

Colin Harris

Bernard Harris

Christopher Hartwell

Cameron Harwick

Cameron Harwick

Zahurul Haq

Bernd Hayo

Peter Hazlett

Leshui He

Joshua Hendrickson

Moritz Hennicke

Arturo Hermann

Carsten Herrmann-Pillath

Roberta Herzberg

Arye Hillman

Kurtis Hingl

Nor Hisham

Joseph Histen

Ashley Hodgson

Gabriel Hoh Teck Ling

Robert Holahan

Randall Holcombe

Abigail Hornstein

Anna Hornykewycz

John Horowitz

Dan Houser

Eric Howard

Yasheng Huang

Laura Huber

Cyril Hédoin

Drini Imami

Penelope Ismay

Robert J. Subrick

Clara Jace

Israt Jahan

Arvind Jain

Babloo Jakhar

Harvey James

Clara Jean

Chandan Jha

Shaomeng Jia

Wei Jiang

Jean Joana

Marianne Johnson

Paul Joskow

Amir Kamel

Brice Kamguia

Saibal Kar

Georgios Karras

Grace Kassis

Annette Kendall

Elias Khalil

Tarron Khemraj

Lynne Kiesling

Christopher Kingston

Yassine Kirat

Peter Klein

Leonie Kleinschrot

Márcio Knau

Anna Kniazevych

Oasis Kodila-Tedika

Vladimir Kogan

Brian Kogelmann

Hidenobu Kojima

Christos Kollias

Roger Koppl

Julia Korosteleva

Dorgyles Kouakou

Steve Kourabas

Mark Koyama

Uroš Kranjc

Leo Krasnozhon

Petr Krautwurm

Kimberly Krawiec

Anne-Kathrin Kreft

Tommy Krieger

Leonard Kukić

Ashis Kumar Pradhan

Kenichi Kurita

Nicholas Kyriazis

Leonhard Lades

Arto Laitinen

Bianca Lakha

Marie Lalanne

Fabio Landini

Alexander Lascaux

Wilson Law

Robert Lawson

Dominique Lazanski

Yunsoo Lee

Lauren Leek

Peter Leeson

Sylvaine Lemeilleur

Jayme Lemke

Stephanie Lenhart

Riccardo Leoncini

Zvi Lerman

Paul Lewis

Paolo Li Donni

Gary Libecap

Viorela Ligia Vaidean

Erik Lindberg

Maurizio Lisciandra

Anastasia Litina

Bai Liu

Mauro Lombardi

Rosetta Lombardo

Edward Lopez

Laura Lopez-Gomez

Natalia Luka

Jiao Luo

William Luther

Jia-Ying Lyu

Emmanouil M.L. Economou

Beatriz Macchione Saes

Michael Madison

Greg Madonia

Gustavo Magalhães de Oliveira

Michele Magnani

Towhid Mahmood

Christos Makridis

Tariq Malik

Morshed Mannan

Chris Mantzavinos

Xi Mao

Alain Marciano

Alyx Mark

Adam Martin

Emanuele Martinelli

Gaetano Martino

Robbert Maseland

Sophie Massin

Scott Masten

Antonio Mastrogiorgio

Valentina Materia

Armelle Mazé

John Mbaku

Anne McCants

Michael McGinnis

John Meadowcroft

Valeriya Mechkova

Steve Medema

Georgios Melios

Gaofeng Meng

Simone Meraglia

Anne Mette Kjær

Tom Miceli

John Michael

Eva Micheler

Karoly Mike

Tracy Miller

Vincent Miozzi

Franklin Mixon

Paweł Miłobędzki

Stefania Montemezzo

Jean-Frédéric Morin

Mario Morroni

Milton Mueller

Bernardo Mueller

Robert Mullings

Kevin Mumford

Michael Munger

Ryan Murphy

Jonathan Murphy

Peter Murrell

Jennifer Murtazashvili

Ilia Murtazashvili

Samuel Mutarindwa

Félix-Fernando Muñoz

Pierre-Guillaume Méon

Cephas Naanwaab

Masaki Nakabayashi

Karthikeya Naraparaju

Georg Naufal

Cecilia Navarra

Rishika Nayyar

Hermann Ndoya

Gideon Ndubuisi

Ioana Negru

Alexander Nepp

Bach Nguyen

Francesco Nicoli

Dennis Niemann

Marina Nistotskaya

Miguel Nkegbe

Mikayla Novak

Jeffrey Nugent

Kristina Nyström

Franklin Obeng-Odoom

Oyedele Ogundana

James Okrah

Anthony Orji

Angela Orlandi

Wafa Orman

Magdalena Osińska

Idrissa Ouedraogo

Lia Pacelli

Alexandre Padilla

Ugo Pagano

Martin Paldam

Ali Palida

Pablo Paniagua

Pier Paolo Creanza

Theofanis Papageorgiou

George Papagiannitsis

Silvia Pasqua

Yves Patrice Etogo Nyaga

James Payne

Matteo Pazzona

João Pedro Bastos

Linan Peng

Mark Pennington

Matias Petersen

Enrico Petracca

Tobias Pfutze

Dawid Piatek

Filomena Pietrovito

Antonello Podda

Marta Podemska-Mikluch

Petrus Potgieter

Benjamin Powell

Jaideep Prabhu

Maarten Prak

Jens Prüfer

Katerina Psarikidou

Michael Quinn

André Quintas

Robbert Rademakers

Lukman Raimi

Raul Ramos

Paul Ramos

Tiziano Rassolini

Johanna Rath

Veeshan Rayamajhee

Emmanuel Raynaud

Blaž Remic

Sander Renes

Anastasia Ri

Roberto Ricciuti

Auke Rijpma

Mario Rizzo

Gegory Robson

Martin Rode

Zachary Rodriguez

Andrés Rodríguez-Pose

Matteo Roggero

Davide Romelli

Vidal Romero

Lucas Ronconi

Jonathan Rose

Federica Rossi

Sergio Rossi

Bo Rothstein

Elodie Rouviere

Nazzareno Ruggiero

Petrik Runst

Carlo Russo

Jamel Saadaoui

Fabio Sabatini

Andrea Saenz de Viteri

Hiro Saito

Alexander Salter

Todd Sandler

Alvaro Sandroni

Provash Sarker

Loic Sauvee

Antonio Savoia

Malcolm Sawyer

Francesco Scervini

David Schaps

Annemiek Schilpzand

Edella Schlager

Paula Schnaider

Geoff Schneider

Christian Schubert

Henning Schwardt

Valentin Seidler

Kunal Sen

Kadambari Shah

Sina Shahab

Shishir Shakya

Chandan Sharma

Rod Sheaff

Jacob Sherkow

Nilesh Shinde

Mary Shirley

Anja Shortland

Magdalene Silberberger

Hilary Silver

Nikhilesh Sinha

Chaitali Sinha

Aleksandar Slaev

Daniel Smith

Hillel Soifer

John Solow

Konstantin Sonin

David Soto-Oñate

J.C. Spender

Antoon Spithoven

Heath Spong

Rok Spruk

Godfreyb Ssekajja

David Stadelmann

Douglas Stevens

Adam Stivers

Jan-Willem Stoelhorst

Virgil Store

Virgil Storr

Jan-Egbert Sturm

Robert Sugden

Simon Sun

Vlad Surdea

Adam Swisher

Clément Séhier

Bedassa Tadesse

Julia Talbot-Jones

Rong Tan

Martine Tania Azoa Balengla

Danko Tarabar

Iván Tartaruga

Alex Taylor

Megan Teague

Sharon Tennyson

Nyima Tenzing

Eytan Tepper

Siri Terjesen

Alessio Terzi

Shova Thapa Karki

Matthias Thiemann

Cameron Tilley

Edward Timmons

Ermanno Tortia

Alex Trew

Francesca Trivellato

Noah Trudeau

Annie Tubadji

Meg Tuszynski

Akther Uddin

Ugbede Umoru

Andrea Vaccaro

Maria-Cruz Valiente

Bas van Bavel

Bram van Besouw

Tom van der Meer

Hester van Herk

Matthijs van Veelen

Bruno Varella Miranda

Massiliano Vatiero

Arild Vatn

Jeroen Veldman

Aashish Velkar

Vanessa Villanueva Collao

Vlado Vivoda

Stefan Voigt

Vyacheslav Volchik

Nadia von Jacobi

Jack Vromen

Mohamed Wael Ben Khaled

Fabian Wahl

Michael Wahman

Jeremy Wallace

William Waller

John Wallis

Aidan Walsh

Maochuan Wang

Rongyu Wang

Yi-ting Wang

Simone Wegge

Weixian Wei

Justus Wesseler

Larry White

Christopher Whitehead

Glen Whitman

Philipp Wichardt

Martha Wilfahrt

Eric Wilhelm

Martin Williams

Travis Wiseman

Ulrich Witt

Patrick Wolf

Garrett Wood

Robert Wright

Katherine Wright

Tim Wunder

Michael Wyrwich

Haoyang Xiong

Chenggang Xu

Tobignaré Yabre

Makio Yamada

Luciana Yeung

Dongwoo Yoo

Masahiko Yoshii

Hui Yuan

Johannes Zahner

Yanlong Zhang

Xioabin Zhang

Chi Zhang

Hongjun Zhao

Yang Zhou

Gundula Zoch

Abdallah Zouache

Jaco Zuijderduijn

Joachim Zweynert

Todd Zywicki