Bank Integration and Transmission of Financial Shocks: Evidence from Japan

By Masami Imai and Seitaro Takarabe

American Economic Journal: Macroeconomics, January 2011

This paper investigates whether banking integration plays an important role in transmitting financial shocks across geographical boundaries by using a dataset on the branch network of nationwide city banks and prefecture-level dataset on the formation and...

Understanding Real Business Cycles

[Symposium: Real Business Cycles]

By Charles I. Plosser

Journal of Economic Perspectives, Summer 1989

This brief essay is intended to provide readers with an introduction to the real business cycle approach to business fluctuations. It discusses the basic real business cycle framework; economic growth and business cycles; real business cycles and the 1954...

Venture Capitals As Principals: Contracting, Screening, and Monitoring

By Steven N. Kaplan and Per Stromberg

American Economic Review, May 2001

Purchasing Power Parity Exchange Rates for the Global Poor

By Angus Deaton and Olivier Dupriez

American Economic Journal: Applied Economics, April 2011

The global poverty count uses a common global poverty line, often referred to as the dollar-a-day line, currently $1.25 at 2005 international prices, whose construction and application depends on purchasing power parity (PPP) exchange rates for consumptio...

Institutions, Factor Endowments, and Paths of Development in the New World

By Kenneth L. Sokoloff and Stanley L. Engerman

Journal of Economic Perspectives, Summer 2000

The explanations offered for the contrasting records of long-run growth and development among the societies of North and South America most often focus on institutions. The traditional explanations for the sources of these differences in institutions, typ...

Choice under Uncertainty: Problems Solved and Unsolved

By Mark J. Machina

Journal of Economic Perspectives, Summer 1987

Fifteen years ago, the theory of choice under uncertainty could be considered one of the "success stories" of economic analysis: it rested on solid axiomatic foundations, it had seen important breakthroughs in the analytics of risk, risk aversion, and the...

Report of the Editor: Journal of Economic Literature

By Janet Currie

American Economic Review, May 2011

Taxes, High-Income Executives, and the Perils of Revenue Estimation in the New Economy

By Austan Goolsbee

American Economic Review, May 2000

Bias in Cable News: Persuasion and Polarization

By Gregory J. Martin and Ali Yurukoglu

American Economic Review, September 2017

We measure the persuasive effects of slanted news and tastes for like-minded news, exploiting cable channel positions as exogenous shifters of cable news viewership. Channel positions do not correlate with demographics that predict viewership and voting, ...

Black-White Achievement Differences and Governmental Interventions

By Eric A. Hanushek

American Economic Review, May 2001

In Honor of Lawrence H. Summers, Winner of the John Bates Clark Medal

By James M. Poterba

Journal of Economic Perspectives, Winter 1995

This paper summarizes the research contributions of Lawrence Summers, who was awarded the 1993 John Bates Clark Medal by the American Economic Association. It focuses on research in four subfields of economics: public finance, labor economies, financial e...

Nobel Laureate: Trygve Haavelmo

By Karl Ove Moene and Asbjorn Rodseth

Journal of Economic Perspectives, Summer 1991

Trygve Haavelmo was in the United States from 1939 to 1947, and in this period he published most of his path-breaking contributions to econometrics for which the Nobel committee awarded him the prize. His list of publications after 1947 contains more than...

Why Personal Ties Cannot Be Bought

By Alessandra Casella and Nobuyuki Hanaki

American Economic Review, May 2006

Auctions in Markets: Common Outside Options and the Continuation Value Effect

By Stephan Lauermann and Gábor Virág

American Economic Journal: Microeconomics, November 2012

In this paper, we study auctions with outside options provided by future market interaction focusing on the revenue effects of some information revelation policies. We show that auctions with less information revelation may yield higher revenues. In parti...

Growth Dynamics: The Myth of Economic Recovery: Comment

By Hannes Mueller

American Economic Review, December 2012

This comment highlights different ways of coding crisis episodes in Cerra and Saxena (2008) (CS). The comment shows that the coding used for civil war implies a misrepresentation of its impact. A correct coding of civil war reveals that the average civil ...

Point Shaving: Corruption in NCAA Basketball

By Justin Wolfers

American Economic Review, May 2006

Will the Stork Return to Europe and Japan? Understanding Fertility within Developed Nations

[Symposium: Investment in Children]

By James Feyrer, Bruce Sacerdote, and Ariel Dora Stern

Journal of Economic Perspectives, Summer 2008

We seek to explain the differences in fertility rates across high-income countries by focusing on the interaction between the increasing status of women in the workforce and their status in the household, particularly with regards to child care and home p...

Claim Validation

By Nabil Al-Najjar, Luciano Pomatto, and Alvaro Sandroni

American Economic Review, November 2014

Hume (1748) challenged the idea that a general claim (e.g. "all swans are white") can be validated by empirical evidence, no matter how compelling. We examine this issue from the perspective of a tester who must accept or reject the forecasts of a potent...

Follow the Leader: Theory and Evidence on Political Participation

By Ron Shachar and Barry Nalebuff

American Economic Review, June 1999

Using state-by-state voting data for U.S. presidential elections, the authors observe that voter turnout is a positive function of predicted closeness. To explain the strategic component of political participation, they develop a follow-the-leader model. ...

Economic Measurement: Progress and Challenges

By Michael J. Boskin

American Economic Review, May 2000