Referee Report

Evaluation Dimensions

1. Contribution and Motivation

• What is the precise research question?
• What is the claimed contribution (new fact, new method, new model)?
• Is this question important and is the contribution non-trivial?
• How does this paper fit relative to the closest existing papers?

2. Theoretical Framework (if applicable)

• Are assumptions stated explicitly and are they economically reasonable?
• Do the main results follow logically from the setup?
• Is the model the right tool for the question, or is it over/under-powered?
• Are comparative statics correct and economically intuitive?

3. Identification and Empirical Strategy

• What is the causal claim, and what is the source of exogenous variation?
• Are the key identification assumptions stated and defended?
• Are the main threats to validity (selection, omitted variables, reverse causality, spillovers) addressed?
• Is the estimand clearly defined (ATE, LATE, ATT)? Is it the right estimand for the question?
• Are pre-trends or balance checks provided where appropriate?

4. Data and Measurement

• Is the dataset appropriate for the question?
• Are variables constructed correctly and transparently?
• Is the sample restriction justified?
• Are there missing data or attrition issues that need to be addressed?

5. Results and Robustness

• Are the main results clearly presented?
• Are the magnitudes economically significant, not just statistically significant?
• Is there adequate heterogeneity analysis?
• Do the robustness checks genuinely probe the identifying assumptions, or are they cosmetic?
• Are standard errors clustered at the appropriate level?

6. Writing and Presentation

• Is the paper well-organized and clearly written?
• Are tables and figures readable and self-contained?
• Does the introduction clearly position the paper in the literature?

Report Structure

## Summary

[2–4 sentences: what the paper does, its main finding, and your overall assessment.
Be specific — avoid generic praise or condemnation. The editor reads this first.]

## Recommendation

[One of: Accept | Minor Revisions | Major Revisions | Reject]

[1–2 sentences justifying the recommendation in terms of the most important issues.]

## Major Comments

[Numbered list. Each major comment should:]
[1. State the concern precisely]
[2. Explain why it matters for the paper's central claims]
[3. Suggest a path to resolution where possible]

1. [Title of concern]
   [Detailed explanation...]

2. [Title of concern]
   [Detailed explanation...]

## Minor Comments

[Shorter numbered list of secondary issues: robustness checks, presentation,
missing citations, table formatting, exposition, etc.]

1. ...
2. ...

## Additional Notes for the Editor (optional)

[Confidential observations not included in the author report. Use sparingly.]

Recommendation Guidelines

When in doubt, lean toward Major Revisions over Reject if the research question is interesting and the data exist to address your concerns.

Language and Tone

Be direct but constructive. Vague praise ("interesting paper") and vague criticism ("the identification is unclear") are both useless. Be specific.

Useful framing:

• "The key identification assumption is X. This requires Y. The paper does not establish Y because Z. A test that would address this is..."
• "The effect size in Table 3 (0.02 SD) is statistically significant but economically small relative to [benchmark]. The paper should discuss whether this magnitude is meaningful."
• "The model's key result (Proposition 2) relies on assumption A3. This assumption rules out [economically relevant case]. The authors should discuss whether relaxing it changes the qualitative results."

Avoid:

• Personal language ("the authors failed to...")
• Requests for citations to your own work (unless genuinely essential)
• Demanding the paper become a different paper entirely
• Generic comments that could apply to any paper

Common Issues by Paper Type

RCT papers

• Is the randomization unit appropriate given the intervention?
• Is there attrition, and is it differential?
• Are spillovers possible and tested?
• Is the LATE/ITT distinction handled correctly?
• Is external validity discussed honestly?

IV papers

• Is the first stage strong (F > 10, ideally > 20)?
• Is the exclusion restriction defended or merely asserted?
• Is monotonicity plausible?
• Is the LATE economically interpretable?

DiD / event study papers

• Are pre-trends shown and statistically tested?
• Is staggered adoption handled with appropriate estimators (Callaway-Sant'Anna, Sun-Abraham)?
• Is the parallel trends assumption plausible given the context?

Theory papers

• Are all assumptions necessary? Which are sufficient?
• Is the equilibrium unique? If not, is selection discussed?
• Do the main propositions have testable empirical implications?

Output

Produce the report in full, ready to paste into a journal submission system. Use the structure above. Be specific, be fair, be useful.