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...

Flexible Estimation of Treatment Effect Parameters

By Thomas MaCurdy, Xiaohong Chen, and Han Hong

American Economic Review, May 2011

A variety of identification strategies have a common cell structure, in which the observed heterogeneity of the regression defines a partition of the sample into cells. Typically in the presence of exogenous covariates that define the cell structure, iden...

Technology Adoption with Exit in Imperfectly Informed Equity Markets

By Katrin Tinn

American Economic Review, June 2010

This paper focuses on the importance of equity markets in facilitating the exit of entrepreneurs investing in technology. Entrepreneurs' willingness to invest and aggregate output is affected in two opposite ways. First, uncertainty about equity price or...

Intrafirm Trade and Product Contractibility

By Andrew B. Bernard, J. Bradford Jensen, Stephen J. Redding, and Peter K. Schott

American Economic Review, May 2010

How Retirement Saving Programs Increase Saving

[Symposium: Government Incentives for Saving]

By James M. Poterba, Steven F. Venti, and David A. Wise

Journal of Economic Perspectives, Fall 1996

This paper summarizes the authors work on the effect of IRA and 401(k) contributions on net personal saving. They consider many different nonparametric approaches to controlling for heterogeneity in individual saving behavior and conclude that the weight ...

Optimal Pension Systems with Simple Instruments

By Mikhail Golosov, Ali Shourideh, Maxim Troshkin, and Aleh Tsyvinski

American Economic Review, May 2013

We analyze optimal pension systems relying on simple policy instruments in a lifecycle environment which admits endogenous decisions of how much to work as well as when to retire. The optimality in this context means the highest welfare that can be achie...

Credit Rationing?

By Dan Bernhardt

American Economic Review, March 2000

Generational Accounting in Europe

By Bernd Raffelhuschen

American Economic Review, May 1999

Sharing Ambiguity

By Larry G. Epstein

American Economic Review, May 2001