sorry about the rejections :( it can be tough to take but you can always re-apply. the econ Phd field is very competitive especially if you're aiming for the top places because everyone else also applies there. this means your profile and LORs have to be above average to really give you a realistic chance of getting in. having said that, a good masters will significantly boost your chances of being accepted. LSE,Oxford, Duke, Barcelona GSE, Toronto and some of the big canadian universities offer some very good masters programmes that have consistently placed students into the top US phd programmes. you should look into these. the typical number of students admitted into a phd programme is about 10-15 whilst for masters it could be as high as 30-40 or even higher so your chances of getting accepted out of the applicant pool is quite good. some of these masters also offer generous funding. i would strongly suggest to those applicants who were not successful this cycle to look into getting a good masters degree from a reputable university first (especially poeple from less well known universities) before applying for the phd programmes at the top places.
best of luck to you! :)