The Wrong Kind of Transparency

By Andrea Prat

American Economic Review, June 2005

Secrecy and Safety

By Andrew F. Daughety and Jennifer F. Reinganum

American Economic Review, September 2005

We provide a model showing that the use of confidential settlement as a strategy for a firm facing tort litigation leads to lower average safety of products sold than would occur if the firm were committed to openness. A rational risk-neutral consumer's r...

Herd Behavior in a Laboratory Financial Market

By Marco Cipriani and Antonio Guarino

American Economic Review, December 2005

We study herd behavior in a laboratory financial market. Subjects receive private information on the fundamental value of an asset and trade it in sequence with a market maker. The market maker updates the asset price according to the history of trades. T...

Crises and Capital Requirements in Banking

By Alan D. Morrison and Lucy White

American Economic Review, December 2005

We analyze a general equilibrium model in which there is both adverse selection of, and moral hazard by, banks. The regulator can screen banks prior to giving them a licence, audit them ex post to learn the success probability of their projects, and impos...

Persistent Distortionary Policies with Asymmetric Information

By Matthew F. Mitchell and Andrea Moro

American Economic Review, March 2006

Why are distortionary policies used when seemingly Pareto improvements exist? According to a standard textbook argument, a Pareto improvement can be obtained by eliminating the distortions, compensating the losers with a lump sum transfer, and redistribut...

National Treatment in the GATT

By Henrik Horn

American Economic Review, March 2006

The National Treatment (NT) clause is the first-line defense in the GATT (and in most other trade agreements) against opportunistic exploitation of the inevitable incompleteness of the agreement. This paper examines the role of NT as it applies to interna...

Social Value of Public Information: Comment: Morris and Shin (2002) Is Actually Pro-Transparency, Not Con

By Lars E. O. Svensson

American Economic Review, March 2006

Social Value of Public Information: Morris and Shin (2002) Is Actually Pro-Transparency, Not Con: Reply

By Stephen Morris, Hyun Song Shin, and Hui Tong

American Economic Review, March 2006

The Effects of Rate Regulation on Demand for Supplemental Health Insurance

By M. Kate Bundorf and Kosali I. Simon

American Economic Review, May 2006

Postsecondary Education and Increasing Wage Inequality

By Thomas Lemieux

American Economic Review, May 2006

Shades of Discrimination: Skin Tone and Wages

By Arthur H. Goldsmith, Darrick Hamilton, and William Darity Jr

American Economic Review, May 2006

Crime and Punishment: And Skin Hue Too?

By Kwabena Gyimah-Brempong and Gregory N. Price

American Economic Review, May 2006

Skin-Tone Effects among African Americans: Perceptions and Reality

By Joni Hersch

American Economic Review, May 2006

Wages and Employment in a Random Social Network with Arbitrary Degree Distribution

By Yannis M. Ioannides and Adriaan R. Soetevent

American Economic Review, May 2006

Factor Reallocation in Eastern Germany after Reunification

By Michael C. Burda

American Economic Review, May 2006

Sudden Stops and Phoenix Miracles in Emerging Markets

By Guillermo A. Calvo, Alejandro Izquierdo, and Ernesto Talvi

American Economic Review, May 2006

A Change Would Do You Good .... An Experimental Study on How to Overcome Coordination Failure in Organizations

By Jordi Brandts and David J. Cooper

American Economic Review, June 2006

We study how financial incentives can be used to overcome a history of coordination failure using controlled laboratory experiments. Subjects' payoffs depend on coordinating at high effort levels. In an initial phase, the benefits of coordination are l...

Paying Not to Go to the Gym

By Stefano DellaVigna and Ulrike Malmendier

American Economic Review, June 2006

How do consumers choose from a menu of contracts? We analyze a novel dataset from three U.S. health clubs with information on both the contractual choice and the day-to-day attendance decisions of 7,752 members over three years. The observed consumer b...

Pareto-Improving Social Security Reform when Financial Markets are Incomplete!?

By Dirk Krueger and Felix Kubler

American Economic Review, June 2006

This paper studies an overlapping generations model with stochastic production and incomplete markets to assess whether the introduction of an unfunded social security system leads to a Pareto improvement. When returns to capital and wages are imperfec...

The Determinants of Mortality

[Symposium: Disease and Development]

By David Cutler, Angus Deaton, and Adriana Lleras-Muney

Journal of Economic Perspectives, Summer 2006

The pleasures of life are worth nothing if one is not alive to experience them. Through the twentieth century in the United States and other high-income countries, growth in real incomes was accompanied by a historically unprecedented decline in mortality...