Report of the Editor: American Economic Review (with Appendix by Philip J. Glandon)

By Robert A. Moffitt

American Economic Review, May 2011

Psychologists at the Gate: A Review of Daniel Kahneman's Thinking, Fast and Slow

By Andrei Shleifer

Journal of Economic Literature, December 2012

The publication of Daniel Kahneman's book, Thinking, Fast and Slow, is a major intellectual event. The book summarizes, but also integrates, the research that Kahneman has done over the past forty years, beginning with his path-breaking work with...

Asian Growth and African Development

By Marcos de Carvalho Chamon and Michael R. Kremer

American Economic Review, May 2006

Testing for Factor Price Equality with Unobserved Differences in Factor Quality or Productivity

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

American Economic Journal: Microeconomics, May 2013

We develop a method for identifying departures from relative factor price equality that is robust to unobserved variation in factor productivity. We implement this method using data on the relative wage bills of nonproduction and production workers acros...

Information Spillovers in Asset Markets with Correlated Values

By Vladimir Asriyan, William Fuchs, and Brett Green

American Economic Review, July 2017

We study information spillovers in a dynamic setting with correlated assets owned by privately informed sellers. In the model, a trade of one asset can provide information about the value of other assets. Importantly, the information content of trading be...

Patents and Research Investments: Assessing the Empirical Evidence

By Eric Budish, Benjamin N. Roin, and Heidi Williams

American Economic Review, May 2016

A well-developed theoretical literature--dating back at least to Nordhaus (1969)--has analyzed optimal patent policy design. We re-present the core trade-off of the Nordhaus model and highlight an empirical question which emerges from the Nordhaus framewo...

A Letter to Ben Bernanke

By N. Gregory Mankiw

American Economic Review, May 2006

Some Income-Measurement Issues and Their Policy Implications

By John C. Weicher

American Economic Review, May 1999

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...

Unmeasured Investment and the Puzzling US Boom in the 1990s

By Ellen R. McGrattan and Edward C. Prescott

American Economic Journal: Macroeconomics, October 2010

For the 1990s, the basic neoclassical growth model predicts a depressed economy, when in fact the US economy boomed. We extend the base model by introducing intangible investment and non-neutral technology change with respect to producing intangible inves...

Liability for Medical Malpractice

[Symposium: The Economics of Liability]

By Patricia M. Danzon

Journal of Economic Perspectives, Summer 1991

Physicians and other medical providers are subject to a negligence rule of liability. In a simple model, with perfect information and homogeneous physicians, a negligence rule of liability with an appropriately defined due care standard should induce comp...

Trade Wars and Trade Talks with Data

By Ralph Ossa

American Economic Review, December 2014

How large are optimal tariffs? What tariffs would prevail in a worldwide trade war? How costly would a breakdown of international trade policy cooperation be? And what is the scope for future multilateral trade negotiations? I address these and other qu...

The Pay of Corporate Executives and Financial Professionals as Evidence of Rents in Top 1 Percent Incomes

[Symposium: The Top 1 Percent]

By Josh Bivens and Lawrence Mishel

Journal of Economic Perspectives, Summer 2013

The debate over the extent and causes of rising inequality of American incomes and wages has now raged for at least two decades. In this paper, we will make four arguments. First, the increase in the incomes and wages of the top 1 percent over the last ...

The Caloric Costs of Culture: Evidence from Indian Migrants

By David Atkin

American Economic Review, April 2016

Anthropologists have documented substantial and persistent differences in food preferences across social groups. My paper asks whether such food cultures can constrain caloric intake? I first document that interstate migrants within India consume fewe...

Deterrence and Geographical Externalities in Auto Theft

By Marco Gonzalez-Navarro

American Economic Journal: Applied Economics, October 2013

Understanding the degree of geographical crime displacement is crucial for the design of crime prevention policies. This paper documents changes in automobile theft risk that were generated by the plausibly exogenous introduction of Lojack, a highly ef...

The American Economic Association Dues Structure

By Richard O. Beil and David N. Laband

Journal of Economic Perspectives, Fall 1996

Because consumers have an incentive to misrepresent their incomes and accurate information about consumers' incomes is costly for sellers to obtain, income-based pricing of goods or services seems unlikely to survive for long. Indeed, income-based pricing...

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 ...

Front Matter

American Economic Journal: Microeconomics, February 2016

Front Matter

American Economic Journal: Applied Economics, October 2014

Retirement Security in an Aging Population

By James M. Poterba

American Economic Review, May 2014

Elderly individuals exhibit wide disparities in their sources of income. For those in the bottom half of the income distribution, Social Security is the most important source of support; program changes would directly affect their well-being. Income from ...