Real Exchange Rate Adjustment in and out of the Eurozone

By Martin Berka, Michael B. Devereux, and Charles Engel

American Economic Review, May 2012

It is often suggested that currency unions unduly inhibit the efficient adjustment of real exchange rates. Recently, this has been seen as a key failure of the Eurozone. This paper presents evidence that throws doubt on this conclusion. Our evidence sugge...

A Teacher Like Me: Does Race, Ethnicity, or Gender Matter?

By Thomas S. Dee

American Economic Review, May 2005

Migration, Remittances, and Male and Female Employment Patterns

By Catalina Amuedo-Dorantes and Susan Pozo

American Economic Review, May 2006

Line-Item Veto: Where Is Thy Sting?

By John R. Carter and David Schap

Journal of Economic Perspectives, Spring 1990

Proponents of giving the president the authority to use a line-item veto argue that the institutional change is needed to limit special-interest legislation and restrain spending. Opponents respond that it would grant too much added power to the president...

Matching Patterns When Group Size Exceeds Two

By Christian Ahlin

American Economic Journal: Microeconomics, February 2017

We study one-sided matching when groups with n > 2 members are being formed. Type-complementarity rules out all but the rank-ordered grouping. Type-substitutability (for example, matching to share risk) rules out much less. It requires that every two g...

Toward National Well-Being Accounts

By Daniel Kahneman, Alan B. Krueger, David Schkade, Norbert Schwarz, and Arthur Stone

American Economic Review, May 2004

Front Matter

American Economic Review, June 2011

Including: Elhanan Helpman: Distinguished Fellow: 2010

Bringing the Market inside the Firm?

By George Baker, Robert Gibbons, and Kevin J. Murphy

American Economic Review, May 2001

The Employment of Low-Skilled Immigrant Men in the United States

By Brian Duncan and Stephen J. Trejo

American Economic Review, May 2012

Using microdata from the 2000 Census, we analyze how the employment rates of foreign-born and US-born men vary with education. After a period of adjustment during the first few years upon arrival, the overall employment rate of immigrant men quickly appro...

Distinguished Lecture on Economics in Government-What We Don't Know Could Hurt Us: Some Reflections on the Measurement of Economic Activity

By Katharine G. Abraham

Journal of Economic Perspectives, Summer 2005

The routine production of U.S. economic statistics dates back to the early part of the twentieth century. But in recent decades, as services output has continued to expand a system of economic statistics that had been designed during the manufacturing era...

The Vulnerability of Minority Homeowners in the Housing Boom and Bust: Corrigendum

By Patrick Bayer, Fernando Ferreira, and Stephen L. Ross

American Economic Journal: Economic Policy, February 2017

Population Size Effects in the Structural Development of England

By Oksana M. Leukhina and Stephen J. Turnovsky

American Economic Journal: Macroeconomics, July 2016

The English structural transformation from farming to manufacturing was accompanied by rapid technological change, expansion of trade, and massive population growth. While the roles of technology and trade in this process have been investigated, the liter...

Extreme Wage Inequality: Pay at the Very Top

By Brian D. Bell and John Van Reenen

American Economic Review, May 2013

We provide new evidence on the growth in pay at the very top of the wage distribution in the United Kingdom. Sectoral decompositions show that workers in the financial sector have accounted for the majority of the gains at the top over the last decade. Ne...

Measuring Returns on Investments in Collectibles

By Benjamin J. Burton and Joyce P. Jacobsen

Journal of Economic Perspectives, Fall 1999

This paper considers the question of how to measure and interpret the financial return to investing in collectibles. We review various methodologies for creating priced indexes and then discuss studies that explicitly calculate a rate of return to some se...

Sticky Prices and Monetary Policy: Evidence from Disaggregated US Data

By Jean Boivin, Marc P. Giannoni, and Ilian Mihov

American Economic Review, March 2009

This paper shows that the recent evidence that disaggregated prices are volatile does not necessarily challenge the hypothesis of price rigidity used in a large class of macroeconomic models. We document the effect of macroeconomic and sectoral disturb...

International Unions

By Alberto Alesina, Ignazio Angeloni, and Federico Etro

American Economic Review, June 2005

We model an international union as a group of countries deciding to centralize the provision of public goods, or policies, that generate externalities across union members. The trade-off between the benefits of coordination and the loss of independent pol...

Effects of Tax Reform on Labor Supply, Investment, and Saving

[Symposium: Tax Reform Act of 1986]

By Barry Bosworth and Gary Burtless

Journal of Economic Perspectives, Winter 1992

The U.S. tax system received two major overhauls during the 1980s: the tax cuts of 1981 and the Tax Reform Act of 1986. Supporters of both reforms argued that major changes in tax policy could boost saving, investment, labor supply, and entrepreneurship. ...

The Cross-Section of Foreign Currency Risk Premia and Consumption Growth Risk: Reply

By Hanno Lustig and Adrien Verdelhan

American Economic Review, December 2011

The consumption growth beta of an investment strategy that goes long in high interest rate currencies and short in low interest rate currencies is large and significant. Consumption risk price differs significantly from zero, even after accounting for the...

Some Evolutionary Foundations for Price Level Rigidity

By Gilles Saint-Paul

American Economic Review, June 2005

This paper shows that price rigidity evolves in an economy populated by imperfectly rational agents who experiment with alternative rules of thumb. In the model, firms must set their prices in face of aggregate demand shocks. Their payoff depends on the l...

Local Responses to Federal Grants: Evidence from the Introduction of Title I in the South

By Elizabeth U. Cascio, Nora Gordon, and Sarah Reber

American Economic Journal: Economic Policy, August 2013

We analyze the effects of the introduction of Title I of the 1965 Elementary and Secondary Education Act, a large federal grants program designed to increase poor students' educational services and achievement. We focus on the South, the poorest region of...