Individual versus Parental Consent in Marriage: Implications for Intra-Household Resource Allocation and Growth

By Lena Edlund and Nils-Petter Lagerlöf

American Economic Review, May 2006

Distinguishing Income from Substitution Effects in Disability Insurance

By David H. Autor and Mark G. Duggan

American Economic Review, May 2007

Skewed Bidding in Pay-per-Action Auctions for Online Advertising

By Nikhil Agarwal, Susan Athey, and David Yang

American Economic Review, May 2009

The Role of Preferences and Opportunity Costs in Determining the Time Allocated to Housework

By Leslie S. Stratton

American Economic Review, May 2012

Research on intrahousehold time allocations has assumed that housework is a necessary evil and focused exclusively on the causal role of opportunity costs. In fact, agents likely act to maximize happiness, and preferences regarding even mundane household ...

Optimal Adoption of Complementary Technologies

By Boyan Jovanovic and Dmitriy Stolyarov

American Economic Review, March 2000

When a production process requires two extremely complementary inputs, conventional wisdom holds that a firm would always upgrade them simultaneously. We show, however, that if upgrading each input involves a fixed cost, the firm may upgrade them at diffe...

On the Workability of Market Socialism

By Pranab Bardhan and John E. Roemer

Journal of Economic Perspectives, Spring 1994

Contrary to the claim of Andrei Shleifer and Robert W. Vishny (1994), it is conceivable under market socialism to take firms out of the orbit of state control and that a less narrow theory of the state than theirs allows the possibility of democratic soci...

Family, Education, and Sources of Wealth among the Richest Americans, 1982-2012

By Steven N. Kaplan and Joshua D. Rauh

American Economic Review, May 2013

We examine characteristics of the 400 wealthiest individuals in the United States over the past three decades as tabulated by Forbes Magazine, and analyze which theories of increasing inequality are most consistent with these data. The people of the Forbe...

Voluntary Contributions and Collective Redistribution

By Andrzej Baranski

American Economic Journal: Microeconomics, November 2016

I study a multilateral bargaining game in which committee members invest in a common project prior to redistributing the total value of production. The game corresponds to a Baron and Ferejohn (1989) legislative bargaining model preceded by a production s...

Simple Cost-Sharing Contracts

By Leon Yang Chu and David E. M. Sappington

American Economic Review, March 2007

We extend William Rogerson's (2003) intriguing analysis of simple procurement contracts to settings where the supplier’s innate production cost is not necessarily distributed uniformly. Although the simple contract that Rogerson analyzes performs remark...

Investing in Skill and Searching for Coworkers: Endogenous Participation in a Matching Market

By Chris Bidner, Guillaume Roger, and Jessica Moses

American Economic Journal: Microeconomics, February 2016

We demonstrate how search frictions have important yet subtle implications for participation in a skilled labor market by studying a model in which agents invest in skill prior to searching for coworkers. Search frictions induce the existence of acceptanc...

Welfare Costs of Inflation in a Menu Cost Model

By Ariel Burstein and Christian Hellwig

American Economic Review, May 2008

Ethnicity and Development in Africa: A Reappraisal

By Robert H. Bates

American Economic Review, May 2000

Peers at Work

By Alexandre Mas and Enrico Moretti

American Economic Review, March 2009

We study peer effects in the workplace. Specifically, we investigate whether, how, and why the productivity of a worker depends on the productivity of coworkers in the same team. Using high-frequency data on worker productivity from a large supermarket...

Assignment of Arrival Slots

By James Schummer and Rakesh V. Vohra

American Economic Journal: Microeconomics, May 2013

Industry participants agree that, when inclement weather forces the FAA to reassign airport landing slots, incentives and property rights should be respected. We show that the FAA's Compression algorithm is incentive compatible, but fails to guarantee ...

Converting Resources from Military to Non-military Uses

By Jurgen Brauer and John Tepper Marlin

Journal of Economic Perspectives, Fall 1992

As a proportion of gross national product, U.S. military spending has declined steadily since the mid-1980s. The end of the Cold War has given rise to calls for even more cuts in military spending. In early 1992, President George Bush proposed to reduce m...

Conflicts of Interest and Steering in Residential Brokerage

By Panle Jia Barwick, Parag A. Pathak, and Maisy Wong

American Economic Journal: Applied Economics, July 2017

This paper documents uniformity in real estate commission rates offered to buyers' agents using 653,475 residential listings in eastern Massachusetts from 1998–2011. Properties listed with lower commission rates experience less favorable transaction...

Leaving Poverty Behind? The Effects of Generous Income Support Paired with Activation

By Simen Markussen and Knut Røed

American Economic Journal: Economic Policy, February 2016

We evaluate a comprehensive activation program in Norway targeted at hard-to-employ social assistance claimants with reduced work capacity. The program offers a combination of tailored rehabilitation, training, and job practice, and a generous, stable, an...

The Contribution of the Minimum Wage to US Wage Inequality over Three Decades: A Reassessment

By David H. Autor, Alan Manning, and Christopher L. Smith

American Economic Journal: Applied Economics, January 2016

We reassess the effect of minimum wages on US earnings inequality using additional decades of data and an IV strategy that addresses potential biases in prior work. We find that the minimum wage reduces inequality in the lower tail of the wage distributio...

International Credit Flows and Pecuniary Externalities

By Markus K. Brunnermeier and Yuliy Sannikov

American Economic Journal: Macroeconomics, January 2015

This paper develops a dynamic two-country neoclassical stochastic growth model with incomplete markets. Short-term credit flows can be excessive and reverse suddenly. The equilibrium outcome is constrained inefficient due to pecuniary externalities. First...

Made in America? The New World, the Old, and the Industrial Revolution

By Gregory Clark, Kevin H. O'Rourke, and Alan M. Taylor

American Economic Review, May 2008