Dynamic Asset Pricing in a System of Local Housing Markets

By Patrick Bayer, Bryan Ellickson, and Paul B. Ellickson

American Economic Review, May 2010

How Relevant Is Malthus for Economic Development Today?

By David N. Weil and Joshua Wilde

American Economic Review, May 2009

Environmental Regulation and Labor Reallocation: Evidence from the Clean Air Act

By W. Reed Walker

American Economic Review, May 2011

This paper uses newly available data on plant level regulatory status linked to the Census Longitudinal Business Database to measure the impact of changes in county level environmental regulations on plant and sector employment levels. Estimates from a va...

Household Asset Allocation, Offspring Education, and the Sandwich Generation

By Vicki L. Bogan

American Economic Review, May 2015

This paper finds households with children and elderly dependents, the "Sandwich Generation," significantly reduce both college savings and stockholding. Having any elderly dependents decreases the probability of both stockholding and college savings by tw...

Is School Segregation Good or Bad?

By Federico Echenique, Roland G. Fryer Jr., and Alex Kaufman

American Economic Review, May 2006

A Symposium on the North American Economy

[Symposium: The North American Economy]

By J. Bradford De Long

Journal of Economic Perspectives, Winter 2001

Report of the Editor: American Economic Journal: Microeconomics

By Andrew Postlewaite

American Economic Review, May 2011

Fiscal Policy and the Great Recession in the Euro Area

By Günter Coenen, Roland Straub, and Mathias Trabandt

American Economic Review, May 2012

How much did fiscal policy contribute to euro area real GDP growth during the Great Recession? We estimate that discretionary fiscal measures have increased annualized quarterly real GDP growth during the crisis by up to 1.6 percentage points. We obtain o...

Expectation Damages, Divisible Contracts, and Bilateral Investment

By Susanne Ohlendorf

American Economic Review, September 2009

This paper examines the efficiency of expectation damages as a breach remedy in a bilateral trade setting with renegotiation and relationship-specific investment by the buyer and the seller. As demonstrated by Edlin and Reichelstein (1996), no contract th...

Bequest and Wealth Accumulation: Are Some Pieces of the Puzzle Missing?

By Denis Kessler and Andre Masson

Journal of Economic Perspectives, Summer 1989

The lively debate between Laurence J. Kotlikoff and Franco Modigliani presented in the Spring 1988 issue of this journal concerns an old question: what is the main motivation for saving and therefore for the accumulation of wealth? More specifically, what...

Doubts About the McKinnon Standard

By Rudiger Dornbusch

Journal of Economic Perspectives, Winter 1988

[This paper responds to "Monetary and Exchange Rate Policies for International Financial Stability: A Proposal," by Ronald I. McKinnon, in this same issue.] For over ten years, Ronald McKinnon has advocated a new monetary system centered on fixed exchange...

The Credit Crisis: Conjectures about Causes and Remedies

By Douglas W. Diamond and Raghuram G. Rajan

American Economic Review, May 2009

Retrospectives: Consumer Sovereignty

By Joseph Persky

Journal of Economic Perspectives, Winter 1993

The term "consumer sovereignty" is usually traced to William Harold Hutt and his 1936 book Economists and the Public: A Study of Competition and Opinion. Hutt paid only passing attention to the maximization of consumer welfare or the achievement of market...

A Comment on the Economics of Labor Adjustment: Mind the Gap: Rejoinder

By Russell Cooper and Jonathan L. Willis

American Economic Review, September 2004

Why Dowries?

By Maristella Botticini and Aloysius Siow

American Economic Review, September 2003

Understanding Ethnic Identity in Africa: Evidence from the Implicit Association Test (IAT)

By Sara Lowes, Nathan Nunn, James A. Robinson, and Jonathan Weigel

American Economic Review, May 2015

We use a variant of the Implicit Association Test (IAT) to examine individuals' implicit attitudes towards various ethnic groups. Using a population from the Democratic Republic of Congo, we find that the IAT measures show evidence of an implicit bias ...

The Market for New Ph. D. Economists in 2002

By John J. Siegfried and Wendy A. Stock

American Economic Review, May 2004

Team versus Individual Play in Finitely Repeated Prisoner Dilemma Games

By John H. Kagel and Peter McGee

American Economic Journal: Microeconomics, May 2016

In finitely repeated prisoner dilemma games, two-person teams start with significantly less cooperation than individuals, consistent with results from the psychology literature. This quickly gives way to teams cooperating more than individuals. Team di...

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...

Completing China's Move to the Market

[Symposium: China]

By Dwight H. Perkins

Journal of Economic Perspectives, Spring 1994

Beginning in late 1978, by luck as much as design, China arrived at a strategy for market-oriented economic reform that combined substantial reform with rapid growth in GDP and exports. The sequencing of reform began with the 'easy to reform' sectors, agr...