The Long-Term Direct and External Effects of Jewish Expulsions in Nazi Germany

By Mevlude Akbulut-Yuksel and Mutlu Yuksel

American Economic Journal: Economic Policy, August 2015

This paper examines the long-term direct and spillover effects of large-scale human capital loss caused by the persecution of Jewish professionals in Nazi Germany. Using region-by-cohort variation in the percentage of the Jewish population as a quasi-expe...

Worker Selection, Hiring, and Vacancies

By Ismail Baydur

American Economic Journal: Macroeconomics, January 2017

This paper incorporates worker selection into a random matching model with multi-worker firms. Unlike the standard Diamond-Mortensen-Pissarides (DMP) model, the extended model is compatible with cross-sectional behavior of vacancy yields, which rise with ...

Racial and Ethnic Economic Inequality: The International Record

By William Darity and Jessica Gordon Nembhard

American Economic Review, May 2000

The Real Effects of Relational Contracts

By Steven Blader, Claudine Gartenberg, Rebecca Henderson, and Andrea Prat

American Economic Review, May 2015

Does the "soft side" of management matter? Many managers assert that "firm culture" is strongly correlated with productivity, but there are few robust tests of this assertion. In a set of field experiments, we study driver productivity within a large US l...

Human Capital and China's Future Growth

[Symposium: China]

By Hongbin Li, Prashant Loyalka, Scott Rozelle, and Binzhen Wu

Journal of Economic Perspectives, Winter 2017

In this paper, we consider the sources and prospects for economic growth in China with a focus on human capital. First, we provide an overview of the role that labor has played in China's economic success. We then describe China's hukou policy, w...

Is a Uniform Social Policy Better? Fiscal Federalism and Factor Mobility

By Roberto Perotti

American Economic Review, June 2001

This paper develops a two-country model to study two questions. How do the degrees of centralization of redistribution and of factor mobility affect the productive efficiency of the economies? What degrees of centralization of redistribution and of factor...

Hedging against the Government: A Solution to the Home Asset Bias Puzzle

By Tiago C. Berriel and Saroj Bhattarai

American Economic Journal: Macroeconomics, January 2013

We explain why international nominal bonds and equity portfolios are biased domestically. In our model, holding domestic government nominal debt provides a hedge against shocks to bond returns and the impact on taxes they induce. For this result, only ...

Front Matter

American Economic Review, January 2017

Limiting Buyer Discretion: Effects on Performance and Price in Long-Term Contracts

By Lisa J. Cameron

American Economic Review, March 2000

Why Does Trend Growth Affect Equilibrium Employment? A New Explanation of an Old Puzzle

By Michael W. L. Elsby and Matthew D. Shapiro

American Economic Review, June 2012

That the employment rate appears to respond to changes in trend growth is an enduring macroeconomic puzzle. This paper shows that, in the presence of a return to experience, a slowdown in productivity growth raises reservation wages, thereby lowering aggr...

The Introduction of Markets in a Hypercentralized Economy: The Case of Romania

By Avner Ben-Ner and J. Michael Montias

Journal of Economic Perspectives, Fall 1991

This paper discusses communist Romania, the economy in the Ceausescu era, 1965-1989, the economy after the Revolution of December 22, 1989, and current problems and prospects for the Romanian economy.

Social Value and the Speed of Innovation

By Kevin M. Murphy and Robert H. Topel

American Economic Review, May 2007

The Economics Major as Part of a Liberal Education: The Teagle Report

By David Colander and KimMarie McGoldrick

American Economic Review, May 2009

Business Cycles and Gender Diversification: An Analysis of Establishment-Level Gender Dissimilarity

By Cynthia Bansak, Mary E. Graham, and Allan A. Zebedee

American Economic Review, May 2012

During recessions, the focus on male job losses may overshadow other important outcome variables. We examine the effects of economic downturns on occupational segregation by gender, using staffing data from over 6 million private-sector US establishments ...

Challenges in Constructing a Survey-Based Well-Being Index

By Daniel J. Benjamin, Kristen B. Cooper, Ori Heffetz, and Miles Kimball

American Economic Review, May 2017

How should a survey-based measure of well-being be implemented? How could it be constructed in a systematic and politically neutral way? These questions should be approached by economists with the same level of care that has been taken in the theoretical ...

The Wrong Shape of Insurance? What Cross-Sectional Distributions Tell Us about Models of Consumption Smoothing

By Tobias Broer

American Economic Journal: Macroeconomics, October 2013

This paper shows how two standard models of consumption risk-sharing—self-insurance through borrowing and saving and limited commitment to insurance contracts—replicate similarly well the standard, second-moment measures of insurance observed in US...

Incremental Universalism for the United States: The States Move First?

[Symposium: Health Care]

By Jonathan Gruber

Journal of Economic Perspectives, Fall 2008

The latest wave of health care proposals and laws in the United Sates has been marked by what I call "incremental universalism" -- that is, getting to universal health insurance coverage by filling the gaps in the existing system, rather than ripping up t...

The USSR before the Fall: How Poor and Why

[Symposium: Economic Transition in the Soviet Union and Eastern Europe]

By Abram Bergson

Journal of Economic Perspectives, Fall 1991

This essay appraises the scholarly findings on the level of consumption and output in the USSR, compared with that in the West. Such aggregative calculations are onerous for any country, and not very surprisingly have encountered particular difficulty whe...

The Estate Tax and Inter Vivos Transfers over Time

By Kathleen McGarry

American Economic Review, May 2013

The strong dislike evidenced by the American public towards the estate tax suggests that the wealthy wish to transfer resources to their heirs tax-free and would thus exploit mechanisms allowing them to reduce the tax burden whenever possible. However, I ...

The Effects of Rate Regulation on Demand for Supplemental Health Insurance

By M. Kate Bundorf and Kosali I. Simon

American Economic Review, May 2006