American Economic Association Nashville, TN 0022-8282 Journal of Economic Literature http://www.aeaweb.org/journal.html 46 2 June 2008 http://www.aeaweb.org/articles/issue_detail.php?journal=JEL&volume=46&issue=2&issue_date=June 2008 Articles The Economic Consequences of Legal Origins RafaelLa PortaDartmouth College FlorencioLopez-de-SilanesEDHEC Graduate School of Management AndreiShleiferHarvard U 285 332 In the last decade, economists have produced a considerable body of research suggesting that the historical origin of a country's laws is highly correlated with a broad range of its legal rules and regulations, as well as with economic outcomes. We summarize this evidence and attempt a unified interpretation. We also address several objections to the empirical claim that legal origins matter. Finally, we assess the implications of this research for economic reform. http://www.aeaweb.org/articles/article_detail.php?journal=JEL&volume=46&issue=2&article=1&issue_date=June 2008 10.1257/jel.46.2.285 American Economic Association Nashville, TN 0022-8282 Journal of Economic Literature http://www.aeaweb.org/journal.html 46 2 June 2008 http://www.aeaweb.org/articles/issue_detail.php?journal=JEL&volume=46&issue=2&issue_date=June 2008 Articles Transfers in Cash and In-Kind: Theory Meets the Data JanetCurrieColumbia U FirouzGahvariU IL 333 83 We review theoretical explanations for in-kind transfers in light of the limited empirical evidence. After reviewing the traditional paternalistic arguments, we consider explanations based on imperfect information and self-targeting. We then discuss the large literature on in-kind programs as a way of improving the efficiency of the tax system and a range of other possible explanations, including the "Samaritan's Dilemma," pecuniary effects, credit constraints, asymmetric information amongst agents, and political economy considerations. Our reading of the evidence suggests that paternalism and interdependent preferences are leading overall explanations for the existence of in-kind transfer programs but that some of the other arguments may apply to specific cases. Political economy considerations must also be part of the story. http://www.aeaweb.org/articles/article_detail.php?journal=JEL&volume=46&issue=2&article=2&issue_date=June 2008 10.1257/jel.46.2.333 American Economic Association Nashville, TN 0022-8282 Journal of Economic Literature http://www.aeaweb.org/journal.html 46 2 June 2008 http://www.aeaweb.org/articles/issue_detail.php?journal=JEL&volume=46&issue=2&issue_date=June 2008 Articles Is the U.S. Labor Market Really That Exceptional? A Review of Richard Freeman StephenNickellNuffield College, Oxford U 384 95 America Works is a splendid book and Richard Freeman is to be congratulated on producing a work that sets out what is right and what is wrong with the U.S. labor market while being a joy to read. While I am generally sympathetic to both the analysis and the conclusions, there are a number of points of disagreement that I highlight in this review. In particular, I would add to his policy recommendations by taking a gamble and enacting a law that entitled all employees in the United States to four weeks paid holiday per year in addition to public holidays. This may transform summertime in the United States. http://www.aeaweb.org/articles/article_detail.php?journal=JEL&volume=46&issue=2&article=3&issue_date=June 2008 10.1257/jel.46.2.384 American Economic Association Nashville, TN 0022-8282 Journal of Economic Literature http://www.aeaweb.org/journal.html 46 2 June 2008 http://www.aeaweb.org/articles/issue_detail.php?journal=JEL&volume=46&issue=2&issue_date=June 2008 Articles The Enigma of India KaushikBasuCornell U 396 406 India's high growth over the last fifteen years has inspired several recent books and papers to examine the growth's source and sustainability--the two-volume study by Arvind Virmani being a case in point. This paper evaluates these recent works. It is argued that the cause of the take-off does not fit into any easy ideological category as suggested by Virmani. The current high growth has been achieved in several steps, with distinct factors of propulsion behind each step. There is reason to expect the growth to be sustainable, although destabilizing political tensions will arise from the increasing inequality. The paper also evaluates how India's growth relates to the global economy. http://www.aeaweb.org/articles/article_detail.php?journal=JEL&volume=46&issue=2&article=4&issue_date=June 2008 10.1257/jel.46.2.396 American Economic Association Nashville, TN 0022-8282 Journal of Economic Literature http://www.aeaweb.org/journal.html 46 2 June 2008 http://www.aeaweb.org/articles/issue_detail.php?journal=JEL&volume=46&issue=2&issue_date=June 2008 Articles A Review of David Colander Daniel S.HamermeshU TX 407 11 David Colander's update/reworking of his 1987 volume draws conclusions about graduate study in economics from interviews with students in selected leading U.S. programs. Although not formally statistical, the interviews support the conclusion that most of the core of graduate instruction (except macro) is handled very well. Colander's concern about the lack of attention to training teachers is well founded. His conclusion that fewer idiots savants are being trained than in the 1980s is overly optimistic, and his worry about stresses that graduate students express is misplaced. http://www.aeaweb.org/articles/article_detail.php?journal=JEL&volume=46&issue=2&article=5&issue_date=June 2008 10.1257/jel.46.2.407 American Economic Association Nashville, TN 0022-8282 Journal of Economic Literature http://www.aeaweb.org/journal.html 46 2 June 2008 http://www.aeaweb.org/articles/issue_detail.php?journal=JEL&volume=46&issue=2&issue_date=June 2008 Articles Book Reviews 412 50 http://www.aeaweb.org/articles/article_detail.php?journal=JEL&volume=46&issue=2&article=6&issue_date=June 2008 10.1257/jel.46.2.412 American Economic Association Nashville, TN 0022-8282 Journal of Economic Literature http://www.aeaweb.org/journal.html 46 2 June 2008 http://www.aeaweb.org/articles/issue_detail.php?journal=JEL&volume=46&issue=2&issue_date=June 2008 Articles Annotated Listing of New Books 451 554 http://www.aeaweb.org/articles/article_detail.php?journal=JEL&volume=46&issue=2&article=7&issue_date=June 2008 10.1257/jel.46.2.451 American Economic Association Nashville, TN 0022-8282 Journal of Economic Literature http://www.aeaweb.org/journal.html 46 2 June 2008 http://www.aeaweb.org/articles/issue_detail.php?journal=JEL&volume=46&issue=2&issue_date=June 2008 Articles JEL Classifications 555 567 http://www.aeaweb.org/articles/article_detail.php?journal=JEL&volume=46&issue=2&article=8&issue_date=June 2008 10.1257/jel.46.2.555