Financial Innovation and Asset Price Volatility

By Felix Kubler and Karl Schmedders

American Economic Review, May 2012

We compare asset prices in an overlapping generations model for incomplete and complete markets. Individuals within a generational cohort have heterogeneous beliefs about future states of the economy and thus would like to make bets against each other. In...

Economic Insights from "Neuroeconomic" Data

By Andrew Caplin and Mark Dean

American Economic Review, May 2008

Antidumping Investigations and the Pass-Through of Antidumping Duties and Exchange Rates: Comment

By Brian D. Kelly

American Economic Review, June 2010

Blonigen and Haynes (2002) calculated that pass-through of antidumping duty estimates to U.S. pricing of 200% would be required to eliminate potential antidumping duties. However, this calculation was based on an error in interpretation of U.S. antidumpin...

The Impact of Targeting Technology on Advertising Markets and Media Competition

By Susan Athey and Joshua S. Gans

American Economic Review, May 2010

Preference Signaling in Matching Markets

By Peter Coles, Alexey Kushnir, and Muriel Niederle

American Economic Journal: Microeconomics, May 2013

Many labor markets share three stylized facts: employers cannot give full attention to all candidates, candidates are ready to provide information about their preferences for particular employers, and employers value and are prepared to act on this inf...

A Note from the President-Elect

By Zvi Griliches

Journal of Economic Perspectives, Fall 1992

A few months ago, Congress overruled the peer review process of the National Science Foundation. A congressional aide looked over the list of NSF grants, decided that 31 of them had titles unworthy of funding, and a conference committee voted on May 21 to...

Correspondence

By Paul A. Samuelson

Journal of Economic Perspectives, Fall 1992

Correspondence and response regarding: Graduated Income Taxation, Which Reduces Inequality, Leaves Pareto's Coefficient Invariant: A Pseudo-paradox That Debunks Pareto's Coefficient More on Keynes and Probability

Distinguished Fellow: In Honor of Victor Fuchs

By Joseph P. Newhouse

Journal of Economic Perspectives, Summer 1992

Victor Fuchs is a towering figure. His contributions to economics have spanned nearly 35 years. As his career has progressed, he has increasingly come to write on subjects of broad interest in a style that is accessible to noneconomists, thereby magnifyin...

Too Many Products: Decentralized Decision Making in Multinational Firms

By Catherine Thomas

American Economic Journal: Microeconomics, February 2011

I analyze country-level product ranges offered by multinational laundry detergent manufacturers in Western Europe. Observed product range variation across countries exceeds the optimal firm-level response to differences in consumer preferences and retail ...

The Case for Forecast Targeting as a Monetary Policy Strategy

[Symposium: Monetary Policy]

By Michael Woodford

Journal of Economic Perspectives, Fall 2007

At central banks around the world, including the Bank of England, Sweden's Riksbank, Norway's Norges Bank, and the Reserve Bank of New Zealand, policy is conducted on the basis of "inflation-forecast targeting": the central bank constructs quantitative pr...

Decomposition of Productivity and Unit Costs

By Carol Corrado and Lawrence Slifman

American Economic Review, May 1999

Media Markets and Localism: Does Local News en Español Boost Hispanic Voter Turnout?

By Felix Oberholzer-Gee and Joel Waldfogel

American Economic Review, December 2009

In the past decade Americans have increasingly turned their attention to nonlocal information sources, raising concerns about disengagement from local communities. Regulation sometimes seeks to curtail the integration of media markets through the promotio...

Bridging the Gap between the Public's and Economists' Views of the Economy

By Robert J. Blendon, John M. Benson, Mollyann Brodie, Richard Morin, Drew E. Altman, Daniel Gitterman, Mario Brossard, and Matt James

Journal of Economic Perspectives, Summer 1997

This paper reports the results of two parallel 1996 surveys, one of economists, one of the public. It finds that the public has a bleaker picture of what has happened economically to the average family and is more pessimistic than most economists about th...

Innovation in Space

By Klaus Desmet and Esteban Rossi-Hansberg

American Economic Review, May 2012

This paper shows how competition for land may lead firms to optimally innovate in spite of the market being perfectly competitive. When bidding for a location, firms can enhance their bid by investing in innovations that make the land more valuable. Firms...

Minutes of the Meeting of the Executive Committee: San Diego, CA, January 3, 2013

By Peter L. Rousseau

American Economic Review, May 2013

Endogenous Effective Discounting, Credit Constraints, and Wealth Inequality

By Jeremy Tobacman

American Economic Review, May 2009

Recommendations for Further Reading

By Bernard Saffran

Journal of Economic Perspectives, Spring 1993

Scale Economies and Industry Agglomeration Externalities: A Dynamic Cost Function Approach

By Catherine J. Morrison Paul and Donald S. Siegel

American Economic Review, March 1999

Scale economies and agglomeration externalities are alleged to be important determinants of economic growth. To assess these effects, the authors outline and estimate a microfoundations model based on a dynamic cost function specification. This model prov...

The Short and Long Run Benefits of Financial Integration

By Riccardo Colacito and Mariano M. Croce

American Economic Review, May 2010

Does Less Income Mean Less Representation?

By Eric Brunner, Stephen L. Ross, and Ebonya Washington

American Economic Journal: Economic Policy, May 2013

We assemble a novel dataset of matched legislative and constituent votes and demonstrate that less income does not mean less representation. We show: (i) The opinions of high- and low-income voters are highly correlated; the legislator's vote often refle...