Veterans' Labor Force Participation: What Role Does the VA's Disability Compensation Program Play?

By Courtney Coile, Mark Duggan, and Audrey Guo

American Economic Review, May 2015

We explore time trends in the labor force participation of veterans and non-veterans and investigate whether they are consistent with a rising role for the Department of Veterans Affairs' Disability Compensation (DC) program, which pays benefits to vetera...

What Do Instrumental Variable Models Deliver with Discrete Dependent Variables?

By Andrew Chesher and Adam M. Rosen

American Economic Review, May 2013

We compare nonparametric instrumental variables (IV) models with linear models and 2SLS methods when dependent variables are discrete. A 2SLS method can deliver a consistent estimator of a Local Average Treatment Effect but is not informative about other ...

Why Europe and the West? Why Not China?

[Symposium: Cultural Economics]

By David S. Landes

Journal of Economic Perspectives, Spring 2006

In the history of technological development, why didn't other regions keep up with Europe? This is an important question, as one learns almost as much from failure as from success. The one civilization that was in a position to match and even anticipate t...

The Ins and Outs of European Unemployment

By Barbara Petrongolo and Christopher A. Pissarides

American Economic Review, May 2008

Econometric Software: A User's View

By Jeffrey K. MacKie-Mason

Journal of Economic Perspectives, Fall 1992

For the social scientist, software is a tool, not an end in itself. My objective in this review is to help practicing economists decide which tool will best get the task done. To do this, I report on how seven programs performed on each of six different e...

Decentralized Organizational Learning: An Experimental Investigation

By Andreas Blume, John Duffy, and April M. Franco

American Economic Review, September 2009

We experimentally study decentralized organizational learning. Our objective is to understand how learning members of an organization cope with the confounding effects of the simultaneous learning of others. We test the predictions of a stylized, ratio...

A Reexamination of Exchange-Rate Exposure

By Kathryn M. E. Dominguez and Linda L. Tesar

American Economic Review, May 2001

Searching for a Bargain: Power of Strategic Commitment

By Selçuk Özyurt

American Economic Journal: Microeconomics, February 2015

This paper shows that in a multilateral bargaining setting where the sellers compete á la Bertrand, a range of prices that includes the monopoly price and 0 are compatible with equilibrium, even in the limit where the reputational concerns and frictions ...

Money, Sticky Wages, and the Great Depression

By Michael D. Bordo, Christopher J. Erceg, and Charles L. Evans

American Economic Review, December 2000

Do Male-Female Wage Differentials Reflect Differences in the Return to Skill? Cross-City Evidence from 1980-2000

By Paul Beaudry and Ethan Lewis

American Economic Journal: Applied Economics, April 2014

Male-female wage gaps declined significantly over the 1980s and 1990s, while returns to education increased. In this paper, we use cross-city data to explore whether, like the return to education, the change in the gender wage gap may reflect changes i...

Correspondence

By Philippe Fontaine

Journal of Economic Perspectives, Summer 1993

Correspondence and response regarding: The Lost Art of Economics

Exchange Efficiency with Weak Ownership Rights

By Oren Bar-Gill and Nicola Persico

American Economic Journal: Microeconomics, November 2016

We show that efficient exchange obtains independently of the degree to which a legal system protects the rights of owners. We study a number of different legal rules, including property rules (strong protection), liability rules (any party can take the ow...

Interest Rate Risk in Credit Markets

By Monika Piazzesi and Martin Schneider

American Economic Review, May 2010

Contracting with Repeated Moral Hazard and Private Evaluations

By William Fuchs

American Economic Review, September 2007

A repeated moral hazard setting in which the Principal privately observes the Agent's output is studied. The optimal contract for a finite horizon is characterized, and shown to require burning of resources. These are only burnt after the worst possible r...

Israel's Stabilization Program of 1985, or Some Simple Truths of Monetary Theory

By Don Patinkin

Journal of Economic Perspectives, Spring 1993

Within a period of two months, and with minimal adverse effects on employment and the real functioning of the economy, Israel's 1985 stabilization program reduced the annual rate of inflation from close to 500 percent to less than 20 percent (correspondin...

Prior User Rights

By Carl Shapiro

American Economic Review, May 2006

Optimal Proof Burdens, Deterrence, and the Chilling of Desirable Behavior

By Louis Kaplow

American Economic Review, May 2011

The optimal stringency of the burden of proof is characterized in a model in which relaxing the proof burden enhances deterrence but also chills desirable behavior. The result are strikingly different from those in prior work that uses a simpler model in ...

The Rise of Fringe Competitors in the Wake of an Emerging Middle Class: An Empirical Analysis

By Alon Eizenberg and Alberto Salvo

American Economic Journal: Applied Economics, July 2015

The "emerging middle class" is a force of economic importance in many consumer markets around the globe. A striking phenomenon in some of these markets is the growth of "generic," low-price brands. This paper examines these phenomena in Brazil's large sof...

Front Matter

American Economic Review, March 2010

Front Matter includes photograph of Angus S. Deaton as part of a series of photographs of past presidents of the Association.

Minutes of the Meeting of the Executive Committee: Chicago, IL, April 27, 2012

By John J. Siegfried

American Economic Review, May 2013