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Showing 321-340 of 13,860 items.

Earnings Inequality and Other Determinants of Wealth Inequality

By Jess Benhabib, Alberto Bisin, and Mi Luo

American Economic Review, May 2017

We study the relation between the distribution of labor earnings and the distribution of wealth. We show, theoretically as well as empirically, that while labor earnings and precautionary savings are important determinants of wealth inequality factors, th...

www.aeaweb.org/articles?id=10.1257/aer.p20171005

Large Firms and International Business Cycle Comovement

By Julian di Giovanni, Andrei A. Levchenko, and Isabelle Mejean

American Economic Review, May 2017

This paper investigates the role of the top 100 firms in France in aggregate business cycle comovement. We establish that the top 100 firms (i) are important in aggregate; (ii) exhibit stronger international linkages than the rest of the economy; and (iii...

www.aeaweb.org/articles?id=10.1257/aer.p20171006

Big Banks, Idiosyncratic Volatility, and Systemic Risk

By Ricardo T. Fernholz and Christoffer Koch

American Economic Review, May 2017

Starting in the 1990s, US bank assets grew more concentrated among a few large institutions. We explore the changing role of idiosyncratic volatility as a shaping force of the bank asset power law distribution. Our results reveal that idiosyncratic asset ...

www.aeaweb.org/articles?id=10.1257/aer.p20171007

China's Gradualistic Economic Approach and Financial Markets

By Markus K. Brunnermeier, Michael Sockin, and Wei Xiong

American Economic Review, May 2017

China's gradualistic approach allowed the government to learn how the economy reacts to small policy changes, and to adjust its reforms before implementing them in full. With fully developed financial markets, however, private actors may front-run future ...

www.aeaweb.org/articles?id=10.1257/aer.p20171035

Rents, Technical Change, and Risk Premia Accounting for Secular Trends in Interest Rates, Returns on Capital, Earning Yields, and Factor Shares

By Ricardo J. Caballero, Emmanuel Farhi, and Pierre-Olivier Gourinchas

American Economic Review, May 2017

The secular decline in safe interest rates since the early 1980s has been the subject of considerable attention. In this short paper, we argue that it is important to consider the evolution of safe real rates in conjunction with three other first-order ma...

www.aeaweb.org/articles?id=10.1257/aer.p20171036

Euro-Area Quantitative Easing and Portfolio Rebalancing

By Ralph S. J. Koijen, François Koulischer, Benoît Nguyen, and Motohiro Yogo

American Economic Review, May 2017

We use new and comprehensive data on the security holdings of euro-area investors to document facts about the ongoing quantitative easing program. The holdings of purchase-eligible government bonds have strong home bias not only for banks but also for ins...

www.aeaweb.org/articles?id=10.1257/aer.p20171037

Capitalization of School Quality in Housing Prices: Evidence from Boundary Changes in Shelby County, Tennessee

By Courtney A. Collins and Erin K. Kaplan

American Economic Review, May 2017

In 2013 Memphis City Schools and Shelby County Schools consolidated into a unified system, creating one of the largest districts in the nation. Six Memphis suburbs subsequently voted to create separate municipal districts. Many school zoning changes resul...

www.aeaweb.org/articles?id=10.1257/aer.p20171129

Teenage Motherhood and Sibling Outcomes

By Jennifer A. Heissel

American Economic Review, May 2017

Using annual longitudinal data, I show that all children in families with teen childbearing are on a downward trajectory several years before pregnancy begins. Compared to students on similar trajectories from families without teenage childbearing, siblin...

www.aeaweb.org/articles?id=10.1257/aer.p20171130

The Importance of Information Targeting for School Choice

By Kehinde F. Ajayi, Willa H. Friedman, and Adrienne M. Lucas

American Economic Review, May 2017

Although school choice programs are common, we know little about the underlying decision-making processes. In this study, we randomly assigned 900 junior high schools in Ghana, a country with universal secondary school choice, to 1 of 3 treatment arms: (1...

www.aeaweb.org/articles?id=10.1257/aer.p20171131

Trends in Economics and Other Undergraduate Majors

By Wendy A. Stock

American Economic Review, May 2017

Although economics' share of Bachelor's degrees awarded in the United States has been flat for over a decade, its share of second majors is growing. This paper documents trends and correlations in disciplines' shares of first and second majors for Bachelo...

www.aeaweb.org/articles?id=10.1257/aer.p20171067

Some Lasting Effects of Undergraduate Economics on Retirement Planning

By William Bosshardt and William B. Walstad

American Economic Review, May 2017

This study investigated the likely effects of undergraduate economics on whether a college graduate has opened a retirement account four years after graduation. Economic education is measured by the number of economics credit hours or whether a college gr...

www.aeaweb.org/articles?id=10.1257/aer.p20171068

Promoting Undergraduate Research in Economics

By Gail M. Hoyt and KimMarie McGoldrick

American Economic Review, May 2017

This paper provides a snapshot of undergraduate research at top 30 liberal arts institutions and top 30 national universities (based on U.S. News and World Report rankings, 2017). This description provides a broader perspective than exists in the literatu...

www.aeaweb.org/articles?id=10.1257/aer.p20171069

Learning Outcomes for Economists

By Sam Allgood and Amanda Bayer

American Economic Review, May 2017

Articulating thoughtful learning outcome statements for courses and majors improves teaching and learning and satisfies accreditation requirements. After reading this paper, economists will be able to construct learning outcome statements that guide and e...

www.aeaweb.org/articles?id=10.1257/aer.p20171070