American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Editors' Introduction J. DavidBaldwin Ronald L.Oaxaca 7 7 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=1&issue_date=May 2003 10.1257/000282803321946732 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Foreword Peter A.Diamond 8 8 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=2&issue_date=May 2003 10.1257/000282803321946741 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Globalization and Its Challenges StanleyFischer 1 30 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=3&issue_date=May 2003 10.1257/000282803321946750 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article The Future of the IMF Ricardo J.Caballero 31 38 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=4&issue_date=May 2003 10.1257/000282803321946769 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article The World Bank of the Future Abhijit V.Banerjee RuiminHe 39 44 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=5&issue_date=May 2003 10.1257/000282803321946778 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article The Future of the IMF and World Bank: Panel Discussion StanleyFischer Allan H.Meltzer Jeffrey D.Sachs NicholasStern 45 50 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=6&issue_date=May 2003 10.1257/000282803321946787 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Trade Structure, Industrial Structure, and International Business Cycles MarianneBaxter Michael A.Kouparitsas 51 56 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=7&issue_date=May 2003 10.1257/000282803321946796 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article How Does Globalization Affect the Synchronization of Business Cycles? M. AyhanKose Eswar S.Prasad Marco E.Terrones 57 62 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=8&issue_date=May 2003 10.1257/000282803321946804 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Why Has the U.S. Economy Become Less Correlated with the Rest of the World? JonathanHeathcote FabrizioPerri 63 69 In this paper we do two things. First we document that over the last 40 years the U.S. business cycle has become less synchronized with the cycle in the rest of the world. Second we try to explain why this has happened. We use a general-equilibrium model as a tool to discriminate between two alternative explanations: (i) a change in the nature of real shocks, and (ii) an increase in U.S. financial integration with the rest of the world. Our results indicate that financial integration has played the major role in producing the observed changes in international co-movement. http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=9&issue_date=May 2003 10.1257/000282803321946813 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Sovereign Debt Restructuring: Messy or Messier? AnneKrueger 70 74 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=10&issue_date=May 2003 10.1257/000282803321946822 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Sovereign Debt Restructuring Randall S.Kroszner 75 79 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=11&issue_date=May 2003 10.1257/000282803321946831 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Is Aggregation a Problem for Sovereign Debt Restructuring? BarryEichengreen AshokaMody 80 84 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=12&issue_date=May 2003 10.1257/000282803321946840 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Will the Sovereign Debt Market Survive? AndreiShleifer 85 90 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=13&issue_date=May 2003 10.1257/000282803321946859 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Capital-Account Liberalization, the Cost of Capital, and Economic Growth Peter BlairHenry 91 96 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=14&issue_date=May 2003 10.1257/000282803321946868 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Equity-Market Liberalizations as Country IPO's RodolfoMartell René M.Stulz 97 101 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=15&issue_date=May 2003 10.1257/000282803321946877 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Randomized Evaluations of Educational Programs in Developing Countries: Some Lessons MichaelKremer 102 106 This paper reviews recent randomized evaluations of educational programs in developing countries, including programs to increase school participation, to provide educational inputs, and to reform education. It then extracts some lessons for education policy and for the practice and political economy of randomized evaluations. http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=16&issue_date=May 2003 10.1257/000282803321946886 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Fieldwork, Economic Theory, and Research on Institutions in Developing Countries ChristopherUdry 107 111 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=17&issue_date=May 2003 10.1257/000282803321946895 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Payoffs from Panels in Low-Income Countries: Economic Development and Economic Mobility Mark R.Rosenzweig 112 117 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=18&issue_date=May 2003 10.1257/000282803321946903 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Weak Instruments: Diagnosis and Cures in Empirical Econometrics JinyongHahn JerryHausman 118 125 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=19&issue_date=May 2003 10.1257/000282803321946912 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Sensitivity to Exogeneity Assumptions in Program Evaluation Guildo W.Imbens 126 132 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=20&issue_date=May 2003 10.1257/000282803321946921 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Cluster-Sample Methods in Applied Econometrics Jeffrey M.Wooldridge 133 138 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=21&issue_date=May 2003 10.1257/000282803321946930 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Market Design: The Policy Uses of Theory JohnMcMillan 139 144 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=22&issue_date=May 2003 10.1257/000282803321946949 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Modern Theory of Unemployment Fluctuations: Empirics and Policy Applications Robert E.Hall 145 150 Strong and widely accepted evidence shows that the natural rate of unemployment varies over time with substantial amplitude. The frictions in the labor market that account for positive normal levels of unemployment are not simple and mechanical. Instead, as a rich modern body of theory demonstrates, the natural rate of unemployment is an equilibrium in which the volumes of job-seeking by workers and worker-seeking by employers reach a balance controlled by fundamental determinants of the relative prices of the two activities. In recessions, unemployment rises, and job vacancies fall. The natural explanation is an economywide fall in labor demand. But a compelling model that generates a fall in labor demand without a counterfactual fall in productivity has eluded theorists to date. Nonetheless, policymakers have appropriately adopted the view that the natural rate varies over time and is not a simple benchmark for setting monetary instruments. http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=23&issue_date=May 2003 10.1257/000282803321946958 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article An Examination of the Influence of Theory and Individual Theorists on Empirical Research in Microeconomics Pierre-AndréChiappori Steven D.Levitt 151 155 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=24&issue_date=May 2003 10.1257/000282803321946967 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Economic Behavior in Political Context Larry M.Bartels Henry E.Brady 156 161 Inviting political scientists to tell economists how they could do better work is an act of disciplinary generosity. The reality is that contemporary political science is a net importer of ideas and methods from other disciplines, and from none more than economics. Indeed, some of the most exciting research in political science in the past 40 years has involved the incorporation of ideas from economics. We have neither the space nor the mandate to summarize that research here, but refer interested readers to Gary J. Miller's (1997) extensive review. Our aim here is to offertwo modest case studies of specific instances of overlap between the interests and research efforts of economists and political scientists. Our first case study focuses on describing and explaining participation in the workforce, the polity, and many other social activities and organizations. Our second case study focuses on the impact of political processes and institutions on macroeconomic policies and performance. In both these instances the work of economists has been quite fruitful—but also, we think, hampered by a characteristic overreliance on standard economic models and methods. However, in both areas, recent developments may point the way toward a more constructive research style combining the theoretical and empirical rigor of economics with a broader and more eclectic approach familiar to political scientists. http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=25&issue_date=May 2003 10.1257/000282803321946976 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article A Psychological Perspective on Economics DanielKahneman 162 168 My first exposure to the psychological assumptions of economics was in a report that Bruno Frey wrote on that subject in the early 1970's. Its first or second sentence stated that the agent of economic theory is rational and selfish, and that his tastes do not change. I found this list quite startling, because I had been professionally trained as a psychologist not to believe a word of it. The gap between the assumptions of our disciplines appeared very large indeed. Has the gap been narrowed in the intervening 30 years? A search through some introductory textbooks in economics indicates that if there has been any change, it has not yet filtered down to that level: the same assumptions are still in place as the cornerstones of economic analysis. However, a behavioral approach to economics has emerged in which the assumptions are not held sacrosanct. In the following I comment selectively on the developments with regard to the three assumptions, on both sides of the disciplinary divide. http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=26&issue_date=May 2003 10.1257/000282803321946985 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article A Picture Is Worth a Thousand Symbols: A Sociologist's View of the Economic Pursuit of Truth Joel M.Podolny 169 174 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=27&issue_date=May 2003 10.1257/000282803321946994 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Libertarian Paternalism Richard H.Thaler Cass R.Sunstein 175 179 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=28&issue_date=May 2003 10.1257/000282803321947001 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Optimal Defaults James J.Choi DavidLaibson Brigitte C.Madrian AndrewMetrick 180 185 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=29&issue_date=May 2003 10.1257/000282803321947010 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Studying Optimal Paternalism, Illustrated by a Model of Sin Taxes TedO'Donoghue MatthewRabin 186 191 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=30&issue_date=May 2003 10.1257/000282803321947029 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Models of Thinking, Learning, and Teaching in Games ColinCamerer TeckHo KuanChong 192 195 Noncooperative game theory combines strategic thinking, best-response, and mutual consistency of beliefs and choices (equilibrium). Hundreds of experiments show that in actual behavior these three forces are limited, even when subjects are highly motivated and analytically skilled (Camerer, 2003). The challenge is to create models that are as general, precise, and parsimonious as equilibrium, but which also use cognitive details to explain experimental evidence more accurately and to predict new regularities. This paper describes three exemplar models of behavior in one-shot games (thinking), learning over time, and how repeated "partner" matching affects behavior (teaching) (see Camerer et al., 2002b). http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=31&issue_date=May 2003 10.1257/000282803321947038 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Decision Making with Naive Advice AndrewSchotter 196 201 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=32&issue_date=May 2003 10.1257/000282803321947047 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Lessons Learned: Generalizing Learning Across Games DavidCooper John H.Kagel 202 207 This paper synthesizes findings from an ongoing research program on learning in signaling games. The present paper focuses on crossgame learning (the ability of subjects to take what has been learned in one game and generalize it to related games), an issue that has been ignored in most of the learning literature. We begin by laying out the basic experimental design and recapitulating early results characterizing the learning process. We then report results from an initial experiment in which we find a surprising degree of positive cross-game learning, contrary to the predictions of commonly employed learning models and to the findings of cognitive psychologists. We next explore two features of the environment that help to explain when and why this positive transfer occurs. First, we examine the effects of abstract versus meaningful context, an issue that has been largely ignored by economists out of the belief that behavior is largely dictated by the deep mathematical structure of a game. In contrast, results from cognitive psychology suggest that behavior may well be sensitive to context employed. Our results show that the use of meaningful context serves as a catalyst for positive transfer. Second, we explore how play by two-person teams differs from play by individuals. The psychology literature is quite pessimistic about the ability of teams to beat a "truth wins" standard based on performance of individuals. But teams easily surpass this norm in our cross-game experiment. We use the dialogues between team members to gain insight into how this transfer occurs, gaining direct confirmation for hypotheses generated by econometric analysis of earlier data. http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=33&issue_date=May 2003 10.1257/000282803321947056 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Testing Political Economy Models of Reform in the Laboratory Timothy N.Cason Vai-LamMui 208 212 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=34&issue_date=May 2003 10.1257/000282803321947065 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article What Can Be Learned from Skeletons that Might Interest Economists, Historians, and Other Social Scientists? Richard H.Steckel 213 220 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=35&issue_date=May 2003 10.1257/000282803321947074 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Living Standards During the Industrial Revolution: An Economist's Guide Hans-JoachimVoth 221 226 The Industrial Revolution is a topic of renewed interest for growth economists. After the first wave of "new growth" theory that addressed the causes of sustained increases in productivity, more attention has been given to an important additional stylized fact: that rapid growth itself is new in historical terms. A radical discontinuity separates thousands of years of by and large stagnant living standards from the industrial era. Increasingly in the last few years, models have attempted to capture these long-run dynamics to try to explain how the world changed from a state where growth was fleeting and limited to one where it has become permanent and decisive. At the same time, economic historians have re-evaluated changes in living standards during the British Industrial Revolution (the canonical case). The new picture that emerges has become increasingly consistent over the last decade, and it differs drastically from earlier descriptions. This paper briefly summarizes the two literatures, contrasts the results obtained, and makes suggestions for a new set of "stylized facts" that could usefully guide future theoretical and empirical work on the Industrial Revolution. http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=36&issue_date=May 2003 10.1257/000282803321947083 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article The Rising Price of Nonmarket Goods Dora L.Costa Matthew E.Kahn 227 232 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=37&issue_date=May 2003 10.1257/000282803321947092 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article At What Level of Labor-Market Intermittency Are Women Penalized? Julie L.Hotchkiss M. MelindaPitts 233 237 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=38&issue_date=May 2003 10.1257/000282803321947100 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Low Take-Up in Medicaid: Does Outreach Matter and for Whom? AnnaAizer 238 241 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=39&issue_date=May 2003 10.1257/000282803321947119 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Impact of Immigration on Prenatal Care Use and Birth Weight: Evidence from California in the 1990's CatalinaAmuedo-Dorantes KusumMundra 242 246 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=40&issue_date=May 2003 10.1257/000282803321947128 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Did Expanding the EITC Promote Motherhood? ReaganBaughman StacyDickert-Conlin 247 251 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=41&issue_date=May 2003 10.1257/000282803321947137 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Price and Spouse's Coverage in Employee Demand for Health Insurance IrenaDushi MarjorieHonig 252 256 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=42&issue_date=May 2003 10.1257/000282803321947146 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Guaranteeing Individual Accounts Marie-EveLachance Olivia S.Mitchell 257 260 Global aging is prompting workers and taxpayers everywhere to recognize their vulnerability to the inherent uncertainty of unfunded social-security systems. This has generated an international wave of social-security reforms over the last two decades, prompting more than 20 countries to establish Individual Account (IA) plans. In the United States, the idea of Individual Accounts has attracted recent interest with the release of the Final Report of the President's Commission to Strengthen Social Security (CSSS): here, voluntary individual accounts were proposed as a key element of a reformed national old-age system (see Commission to Strengthen Social Security, 2001; John F. Cogan and Mitchell, 2003). Strengths of IA's include the fact that participants gain ownership in their accounts and diversify their pension investments; nevertheless, IA participants also must bear capital-market risk. Recent market volatility has reminded investors of the importance of capital-market fluctuations and their potential impact on retirement income. In response, some policymakers have suggested that "guarantees" be designed to help protect IA investments. Abroad, such guarantees have been adopted in several Latin American countries undergoing reform, and most recently, in Japan and Germany (Mitchell and Kent Smetters, 2003). Sensible public policy recommending the adoption of guarantees must identify their costs and who will pay for them. In this paper, we discuss how to evaluate such costs in the context of a social-security reform that includes IA's, along with ways to finance them. http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=43&issue_date=May 2003 10.1257/000282803321947155 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article The Interaction of Public Retirement Income Programs in the United States Elizabeth T.Powers DavidNeumark 261 265 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=44&issue_date=May 2003 10.1257/000282803321947164 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Monetary Policy Under Imperfect Capital Markets in a Small Open Economy AnitaTuladhar 266 270 Following the financial crises of the late 1990's an increasing number of emergingmarket countries have adopted a flexible exchange-rate regime and an inflation-targeting monetary-policy framework. This trend has generated a growing debate on the appropriate monetary-policy rule for "financially fragile" economies with thin and incomplete financial markets that are subject to highly volatile capital flows. Within this context, I examine the implications of alternative monetary-policy rules and the choice of instruments and targets in a small open economy with imperfect capital markets. I compare a benchmark efficient-markets model with a monetary-targeting regime and three different inflation-targeting rules: the Taylor rule, a CPI inflation-target rule, and a non-tradable inflation-target rule. Furthermore, I study how sensitive the results are to varying degrees of capital-market integration. In addressing this question of the "second best" policy, the paper resembles that of Michael Devereaux and Phillip Lane (2001), who study the role of financial accelerator effects on various monetary-policy rules. I adopt a small open-economy setup rather than a two-country framework. In contrast to most small open-economy models, however, this paper does not assume a zero current-account balance. Net foreign-asset holdings and capital flows affect real volatility through the interest-rate risk premium. Given the significant role the risk premium plays in the external borrowing costs for emerging markets, this channel may have important consequences for economic dynamics. http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=45&issue_date=May 2003 10.1257/000282803321947173 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Evaluating Alternative Approaches to Incremental Health-Insurance Expansion JonathanGruber 271 276 After a small decline, the number of uninsured persons in the United States is on the rise again, at over 41 million (Center on Budget and Policy Priorities, 2002). This increase is likely to spur efforts to cover the uninsured through legislative action. Given the failure of the most recent attempt at massive insurance expansions (David Cutler and Gruber, 2002), the likely approach is through incremental reforms. At the same time, there remains a fundamental conflict between the right and the left over the appropriate form that such incremental reforms should take. The left advocates additional expansions of the public-insurance safety net, for example, to parents of children already publicly insured. The right advocates subsidizing the purchase of private insurance through the tax code. In recent years, a number of analyses, both inside and outside of government, have studied the impact of these types of reforms (e.g., John Holahan et al., 1999; Gruber and Larry Levitt, 2000; Mark McClellan, 2000). These analyses have largely talked past each other, however, as there is little agreement on the "right" criteria on which to evaluate incremental reforms. Should we be concerned solely with the number of persons newly insured? What about the extent of displacement of other forms of insurance coverage, or "crowdout"? And what about the types of uninsured covered; should we count equally a low-cost child who is newly insured and a high-cost older person? In this paper, I lay out the issues surrounding the criteria along which alternative approaches to reform can be evaluated. I then present microsimulation estimates of the impacts of three types of reforms: tax credits for individual purchase of nongroup insurance, expansions of public insurance to children and parents, and expansion of public insurance to all adults. I use the results from these simulations to contrast these reforms using the various criteria developed here. http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=46&issue_date=May 2003 10.1257/000282803321947182 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article A New Approach to Risk-Spreading via Coverage-Expansion Subsidies JohnHolahan Len M.Nichols Linda J.Blumberg Yu-ChuShen 277 282 The persistently large number of uninsured, roughly 40 million per year since 1993, continues to elicit bipartisan policy interest. Coverage-expansion proposals without mandates, by far the most common since the defeat of the Clinton plan, must address risk-pooling realities in private markets. Insurers have strong financial incentives to segment risks and minimize pooling of heterogeneous risks, and narrow risk-pooling will diminish the adequacy of premium subsidies based on income alone, at least for higher-risk individuals. The current debate over flat tax credits and the non-group market is a case in point (Blumberg, 2001; Center for Studying Health System Change, 2002; Jack Hadley and James D. Reschovsky, 2002). We, along with nine other teams, were asked to develop a proposal that would expand coverage in a large and creative way (see Holahan et al., 2001). The proposal we developed would subsidize low-income individuals and families but also addresses the issue of inefficient and inequitable risk-pooling. http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=47&issue_date=May 2003 10.1257/000282803321947191 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Reinsuring Risk to Increase Access to Health Insurance KatherineSwartz 283 287 At least 41 million Americans are currently without health insurance in any given month (U.S. Bureau of the Census, 2002). They are uninsured for a variety of reasons, and most people who lack coverage are affected by more than one reason. Two generalizations can be made, however. First, a majority simply cannot afford to purchase health insurance unless it is heavily subsidized. Most do not have access to employer-sponsored coverage and so must purchase any insurance in the non-group (individual) health-insurance market - a market where, as I explain below, insurance is typically twice as expensive as employer-group coverage if it is not denied outright. Since about two-thirds of the uninsured have incomes below $35,000, non-group health-insurance premiums often exceed 10 percent of their incomes. The second generalization is that, to an important extent, high premiums in the non-group market and denial of coverage reflect market failure due to asymmetric information. Insurers can never know as much as an individual does about his or her health, family history of health problems, and tendency to seek medical care. Because of this asymmetry, it is impossible for an insurer to set premiums that accurately reflect the non-random portion of health-care costs for different individuals. The non-group market is the only health-insurance option for people without employersponsored coverage. Tax-related subsidies as proposed by members of Congress and the Bush administration do not address the market-failure problems and so are unlikely to make insurance much more affordable. To increase access to health insurance, risk in the non-group market needs to be shifted to a broader population base. In what follows, I first describe the three distinct health-insurance markets in which people can obtain health insurance, and the special nature of competition among insurance companies in the non-group market. Then I make the case for government to act as reinsurer and assume the risk of extremely high-cost people. Efficiency in the non-group health-insurance market would be improved if the government reinsured the market. Equity also would be increased if the government acted as reinsurer because more uninsured people would have access to insurance. Finally, I describe precedents for this role for government in other markets, and why tax-related subsidies will not succeed in increasing health-insurance coverage unless the risks of extremely high costs are shifted to the government. http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=48&issue_date=May 2003 10.1257/000282803321947209 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Why Did the Welfare Rolls Fall During the 1990's? The Importance of Entry JeffreyGrogger Steven J.Haider JacobKlerman 288 292 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=49&issue_date=May 2003 10.1257/000282803321947218 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Some Evidence on Race, Welfare Reform, and Household Income Marianne P.Bitler Jonah B.Gelbach Hilary W.Hoynes 293 298 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=50&issue_date=May 2003 10.1257/000282803321947227 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article How Welfare Policies Affect Child and Adolescent Achievement ElizabethClark-Kauffman Greg J.Duncan PamelaMorris 299 303 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=51&issue_date=May 2003 10.1257/000282803321947236 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Changes in the Distribution of Children's Family Income over the 1990's Rebecca M.Blank Robert F.Schoeni 304 308 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=52&issue_date=May 2003 10.1257/000282803321947245 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article The Gender Gap in Wages, circa 2000 JuneO'Neill 309 314 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=53&issue_date=May 2003 10.1257/000282803321947254 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Assimilation across the Latino Generations James P.Smith 315 319 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=54&issue_date=May 2003 10.1257/000282803321947263 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Catching Up: Wages of Black Men FinisWelch 320 325 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=55&issue_date=May 2003 10.1257/000282803321947272 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article The Economics of Reparations WilliamDarityJr DaniaFrank 326 329 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=56&issue_date=May 2003 10.1257/000282803321947281 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article The Political Economy of Antiracism Initiatives in the Post-Durban Round Samuel L.MyersJr. Lajune ThomasLange BruceCorrie 330 333 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=57&issue_date=May 2003 10.1257/000282803321947290 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Racial Stigma: Toward a New Paradigm for Discrimination Theory Glenn C.Loury 334 337 This essay examines interconnections between "race" and economic inequality in the United States, focusing on the case of African-Americans. I will argue that it is crucially important to distinguish between racial discrimination and racial stigma in the study of this problem. Racial discrimination has to do with how blacks are treated, while racial stigma is concerned with how black people are perceived. My view is that what I call reward bias (unfair treatment of persons in formal economic transactions based on racial identity) is now a less significant barrier to the full participation by African-Americans in U.S. society than is what I will call development bias (blocked access to resources critical for personal development but available only via non-market-mediated social transactions). By making these points in the specific cultural and historical context of the black experience in U.S. society, I hope to contribute to a deeper conceptualization of the worldwide problem of race and economic marginality. http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=58&issue_date=May 2003 10.1257/000282803321947308 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Rethinking Economic Discrimination JomoK.S. 338 342 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=59&issue_date=May 2003 10.1257/000282803321947317 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Social Security and Individual Accounts as Elements of Overall Risk-Sharing Robert J.Shiller 343 347 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=60&issue_date=May 2003 10.1257/000282803321947326 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Comparing the Risks of Social Security with and without Individual Accounts SitaNataraj John B.Shoven 348 353 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=61&issue_date=May 2003 10.1257/000282803321947335 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article What Do We Know About the Risk of Individual Account Pensions? Evidence from Industrial Countries GaryBurtless 354 359 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=62&issue_date=May 2003 10.1257/000282803321947344 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Inter-asset Differences in Effective Estate-Tax Burdens James M.Poterba Scott J.Weisbenner 360 365 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=63&issue_date=May 2003 10.1257/000282803321947353 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Charitable Bequests and Taxes on Inheritances and Estates: Aggregate Evidence from across States and Time Jon M.Bakija William G.Gale Joel B.Slemrod 366 370 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=64&issue_date=May 2003 10.1257/000282803321947362 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Thanatology and Economics: The Behavioral Economics of Death JoelSlemrod 371 375 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=65&issue_date=May 2003 10.1257/000282803321947371 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Consumption Risk and Expected Stock Returns Jonathan A.Parker 376 382 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=66&issue_date=May 2003 10.1257/000282803321947380 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Stock-Market Participation, Intertemporal Substitution, and Risk-Aversion AnnetteVissing-Jørgensen Orazio P.Attanasio 383 391 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=67&issue_date=May 2003 10.1257/000282803321947399 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Average Debt and Equity Returns: Puzzling? Ellen R.McGrattan Edward C.Prescott 392 397 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=68&issue_date=May 2003 10.1257/000282803321947407 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Employer Stock and 401(k) Plans James M.Poterba 398 404 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=69&issue_date=May 2003 10.1257/000282803321947416 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Accounting for Employee Stock Options WayneGuay S. P.Kothari RichardSloan 405 409 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=70&issue_date=May 2003 10.1257/000282803321947425 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Accounting in Partnerships StevenHuddart Pierre JinghongLiang 410 414 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=71&issue_date=May 2003 10.1257/000282803321947434 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article The Impact of Bankruptcy on Airline Service Levels SeverinBorenstein Nancy L.Rose 415 419 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=72&issue_date=May 2003 10.1257/000282803321947443 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Integration and Independent Innovation on a Network JosephFarrell 420 424 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=73&issue_date=May 2003 10.1257/000282803321947452 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Measuring Unilateral Market Power in Wholesale Electricity Markets: The California Market, 1998–2000 Frank A.Wolak 425 430 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=74&issue_date=May 2003 10.1257/000282803321947461 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article The Effects of Environmental Regulation on Technology Diffusion: The Case of Chlorine Manufacturing Lori D.Snyder Nolan H.Miller Robert N.Stavins 431 435 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=75&issue_date=May 2003 10.1257/000282803321947470 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article How Effective Is Green Regulatory Threat? WernerAntweiler 436 441 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=76&issue_date=May 2003 10.1257/000282803321947489 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Estimating Regulation-Induced Substitution: The Effect of the Clean Air Act on Water and Ground Pollution MichaelGreenstone 442 448 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=77&issue_date=May 2003 10.1257/000282803321947498 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article The Instructional Use and Teaching Preparation of Graduate Students in U.S. Ph.D.-Granting Economics Departments William B.Walstad William E.Becker 449 454 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=78&issue_date=May 2003 10.1257/000282803321947506 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article A Model Teacher-Education Program for Economics Michael K.Salemi 455 459 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=79&issue_date=May 2003 10.1257/000282803321947515 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Regional Workshops to Improve the Teaching Skills of Economics Faculty Rae Jean B.Goodman MarkMaier Robert L.Moore 460 462 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=80&issue_date=May 2003 10.1257/000282803321947524 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Minutes of the Annual Meeting Washington, DC January 4, 2003 465 466 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=81&issue_date=May 2003 10.1257/000282803321947533 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Minutes of the Executive Committee Meetings 467 478 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=82&issue_date=May 2003 10.1257/000282803321947542 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Report of the Secretary for 2002 479 481 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=83&issue_date=May 2003 10.1257/000282803321947551 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Report of the Treasurer 482 485 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=84&issue_date=May 2003 10.1257/000282803321947560 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Report of the Finance Committee 486 486 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=85&issue_date=May 2003 10.1257/000282803321947579 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Report of the Editor 487 498 http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=93&issue=2&article=86&issue_date=May 2003 10.1257/000282803321947588 American Economic Association Nashville, TN 0002-8282 American Economic Review http://www.aeaweb.org/aer/ 93 2 May 2003 http://www.aeaweb.org/articles/issue_detail.php?journal=AER&volume=93&issue=2&issue_date=May 2003 Journal Article Journal of Economic Literature 499 501 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