The Political Economy of Debt Bondage

By Ulf von Lilienfeld-Toal and Dilip Mookherjee

American Economic Journal: Microeconomics, August 2010

What are the effects of restricting bonded labor clauses in tenancy or debt contracts? While such restrictions reduce agents' ability to credibly commit ex ante to repay principals in states where they default on their financial obligations, they also gen...

Meese-Rogoff Redux: Micro-Based Exchange-Rate Forecasting

By Martin D. D. Evans and Richard K. Lyons

American Economic Review, May 2005

Balance Sheets and Exchange Rate Policy

By Luis Felipe Céspedes, Roberto Chang, and Andrés Velasco

American Economic Review, September 2004

Monetary Policy and Market Interest Rates

By Tore Ellingsen and Ulf Soderstrom

American Economic Review, December 2001

Departure Times in Y-Shaped Traffic Networks with Multiple Bottlenecks

By Terry E. Daniel, Eyran J. Gisches, and Amnon Rapoport

American Economic Review, December 2009

We study the departure time decisions of commuters traversing a traffic network with the goal of arriving at a common destination at a specified time. There are costs associated with arriving either too early or too late, and with delays experienced at bo...

Technology Improves Learning in Large Principles of Economics Classes: Using Our WITS

By Sheryl B. Ball, Catherine Eckel, and Christian Rojas

American Economic Review, May 2006

The Determinants of Equilibrium Unemployment

By Eran Yashiv

American Economic Review, December 2000

The paper takes the search and matching model of the aggregate labor market to the data. It tests the model's empirical validity and employs structural estimation to generate a characterization of the optimal behavior of firms and workers. The model is ap...

Estimating the Value of a Statistical Life: The Importance of Omitted Variables and Publication Bias

By Orley Ashenfelter and Michael Greenstone

American Economic Review, May 2004

A Review of David Colander's The Making of an Economist, Redux

By Daniel S. Hamermesh

Journal of Economic Literature, June 2008

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...

How Local Are Labor Markets? Evidence from a Spatial Job Search Model

By Alan Manning and Barbara Petrongolo

American Economic Review, October 2017

This paper models the optimal search strategies of the unemployed across space to characterize local labor markets. Our methodology allows for linkages between numerous areas, while preserving tractability. We estimate that labor markets are quite local, ...

Demand Reduction in Multiunit Auctions: Evidence from a Sportscard Field Experiment

By John A. List and David Lucking-Reiley

American Economic Review, September 2000

Socioeconomic Differences in the Adoption of New Medical Technologies

By Dana Goldman and James P. Smith

American Economic Review, May 2005

AIG in Hindsight

[Symposium: The Bailouts of 2007-2009]

By Robert McDonald and Anna Paulson

Journal of Economic Perspectives, Spring 2015

The near-failure on September 16, 2008, of American International Group (AIG) was an iconic moment in the financial crisis. Two large bets on real estate made with funding vulnerable to bank-run-like dynamics pushed AIG to the brink of bankruptcy. AIG use...

Economic Catastrophe Bonds

By Joshua D. Coval, Jakub W. Jurek, and Erik Stafford

American Economic Review, June 2009

The central insight of asset pricing is that a security's value depends both on its distribution of payoffs across economic states and on state prices. In fixed income markets, many investors focus exclusively on estimates of expected payoffs, such as ...

Is Lottery Gambling Addictive?

By Jonathan Guryan and Melissa S. Kearney

American Economic Journal: Economic Policy, August 2010

We present an empirical test for the addictiveness of lottery gambling that exploits an exogenous shock to local market consumption of lottery gambling. It uses the sale of a winning jackpot ticket in a zip code as an instrument for present consumption an...

Distinguished Lecture on Economics in Government: Reflections on Managing Global Integration

By Lawrence H. Summers

Journal of Economic Perspectives, Spring 1999

On the topic of globalization and economic integration, I want to address five subjects: The first is the extent of global integration that has taken place and that lies in prospect. The second is the broad case for economic integration and why domestic a...

Domestic Institutions and the Bypass Effect of Financial Globalization

By Jiandong Ju and Shang-Jin Wei

American Economic Journal: Economic Policy, November 2010

This paper proposes a simple model to study how domestic institutions affect patterns of international capital flows. Inefficient financial system, and poor corporate governance, may be bypassed by two-way capital flows in which domestic savings leave the...

Recessions, Retirement, and Social Security

By Courtney C. Coile and Phillip B. Levine

American Economic Review, May 2011

This paper examines how labor market fluctuations around the time of retirement affect the labor force status and Social Security receipt of individuals ages 55 to 69 and the income of retirees in their 70s, using data from the March Current Population Su...

Interpreting Labor Supply Regressions in a Model of Full- and Part-Time Work

By Yongsung Chang, Sun-Bin Kim, Kyooho Kwon, and Richard Rogerson

American Economic Review, May 2011

We construct a family model of labor supply that features adjustment along both the intensive and extensive margin. Intensive margin adjsutment is restricted to two values: full-time work and part-time work. Using simulated data from the steady state of t...

Assessing the Rate of Replication in Economics

By James Berry, Lucas C. Coffman, Douglas Hanley, Rania Gihleb, and Alistair J. Wilson

American Economic Review, May 2017

We assess the rate of replication for empirical papers in the 2010 American Economic Review. Across 70 empirical papers, we find that 29 percent have 1 or more citation that partially replicates the original result. While only a minority of papers has a p...