The Limitations of Legal Institutions for Addressing Environmental Risks

[Symposium: The Economics of Liability]

By Peter S. Menell

Journal of Economic Perspectives, Summer 1991

This article assesses the major systems of environmental liability in the United States—the toxic tort system and Superfund. The discussion of each of these areas first lays out the scientific background of the environmental problems and the applica...

From Stagnation to Sustained Growth: The Role of Female Empowerment

By Claude Diebolt and Faustine Perrin

American Economic Review, May 2013

This paper explores the role of gender equality over a long-run economic and demographic development path of industrialized countries. Our unified cliometric growth model of female empowerment suggests that changes in gender relations are a key ingredient...

Defined Contribution Pension Plans: Mutual Fund Asset Allocation Changes

By Clemens Sialm, Laura Starks, and Hanjiang Zhang

American Economic Review, May 2015

In this paper we compare changes in asset allocations between mutual funds held in defined contribution pension plans and funds held by other investors. We investigate how flows into equity and fixed income mutual funds depend on macroeconomic conditions....

The Coordination Value of Monetary Exchange: Experimental Evidence

By Gabriele Camera and Marco Casari

American Economic Journal: Microeconomics, February 2014

What institutions can sustain cooperation in groups of strangers? Here we study the role of monetary systems. In an experiment, subjects sometimes needed help and sometimes could incur a cost to help an anonymous counterpart. In the absence of money, the...

Asset Fire Sales and Credit Easing

By Andrei Shleifer and Robert W. Vishny

American Economic Review, May 2010

How Do Budget Deficits and Economic Growth Affect Reelection Prospects? Evidence from a Large Panel of Countries

By Adi Brender and Allan Drazen

American Economic Review, December 2008

We test whether good economic conditions and expansionary fiscal policy help incumbents get reelected in a large panel of democracies. We find no evidence that deficits help reelection in any group of countries independent of income level, level of democr...

Trade in Intermediate Inputs and Business Cycle Comovement

By Robert C. Johnson

American Economic Journal: Macroeconomics, October 2014

Does input trade synchronize business cycles across countries? I incorporate input trade into a dynamic multisector model with many countries, calibrate the model to match bilateral input-output data, and estimate trade-comovement regressions in simula...

Dynamic Pricing of Electricity

By Paul L. Joskow and Catherine D. Wolfram

American Economic Review, May 2012

As both a regulator and an academic, Fred Kahn argued that end-use electricity consumers should face prices that reflect the time-varying marginal costs of generating electricity. This has been very slow to happen in the US, even in light of recent techno...

Measuring Unilateral Market Power in Wholesale Electricity Markets: The California Market, 1998-2000

By Frank A. Wolak

American Economic Review, May 2003

U.S. Wage-Inequality Trends and Recent Immigration

By Robert I. Lerman

American Economic Review, May 1999

A Competitive Perspective on Internet Explorer

By Steven J. Davis and Kevin M. Murphy

American Economic Review, May 2000

Feminism and Economics

By Julie A. Nelson

Journal of Economic Perspectives, Spring 1995

Recent feminist theorizing about gender and science could improve economic practice. The usual definitions of the subject matter, models, methods, and pedagogy of economics, while often perceived as value-free and impartial, contain distinct masculine bia...

Fire Sales in Finance and Macroeconomics

[Symposium: Financial Regulation after the Crisis]

By Andrei Shleifer and Robert Vishny

Journal of Economic Perspectives, Winter 2011

Analysts of the recent financial crisis often refer to the role of asset "fire sales" in depleting the balance sheets of financial institutions and aggravating the fragility of the financial system. The term "fire sale" has been around since the nineteent...

The Myth of the East Asian Miracle: The Macroeconomic Implications of Soft Budgets

By Chong-En Bai and Yijiang Wang

American Economic Review, May 1999

A Seniority Arrangement for Sovereign Debt

By Satyajit Chatterjee and Burcu Eyigungor

American Economic Review, December 2015

A sovereign's inability to commit to a course of action regarding future borrowing and default behavior makes long-term debt costly (the problem of debt dilution). One mechanism to mitigate this problem is the inclusion of a seniority clause in debt contr...

Estimates of the Size and Source of Price Declines Due to Nearby Foreclosures

By Elliot Anenberg and Edward Kung

American Economic Review, August 2014

Using new data on real estate listings, we provide new evidence that foreclosures have a causal effect on nearby house prices and disentangle the effect into two sources: competition and disamenities. We identify the causal effect by showing that sellers ...

Why do We Die? Economics, Biology and Aging

By Arthur J. Robson and Hillard S. Kaplan

American Economic Review, May 2007

Minutes of the Annual Business Meeting: San Diego, CA, January 5, 2013

By Peter L. Rousseau

American Economic Review, May 2013

Input Trade and the Location of Production

By Ronald Findlay and Ronald W. Jones

American Economic Review, May 2001

Social Distance and Other-Regarding Behavior in Dictator Games: Reply

By Elizabeth Hoffman, Kevin McCabe, and Vernon L. Smith

American Economic Review, March 1999