Correspondence: The One Percent: Robert Solow, N. Gregory Mankiw, Richard V. Burkhauser, and Jeff Larrimore

Journal of Economic Perspectives, Winter 2014

Forty Years of Public Economics: A Personal Perspective

By Jacques H. Dreze

Journal of Economic Perspectives, Spring 1995

This paper presents a personal perspective on the field of public economics with emphasis on the interplay of theory and applications. In the early 1950s, theoretical developments grew out of practical applications. Yet, few economists succeed in creative...

What Inventory Behavior Tells Us about Business Cycles

By Mark Bils and James A. Kahn

American Economic Review, June 2000

The countercyclical pattern of inventory-sales ratios is a striking feature of inventory behavior. In a model where inventories are productive for sales, both the markup of price over marginal cost and expected changes in marginal cost are key determinant...

Report of the Editor: American Economic Review

American Economic Review, May 2015

Markets and Diversity

By Sherwin Rosen

American Economic Review, March 2002

Heterogeneous Scarring Effects of Full-Year Nonemployment

By Fatih Guvenen, Fatih Karahan, Serdar Ozkan, and Jae Song

American Economic Review, May 2017

Drawing on administrative data from the Social Security Administration, we find that individuals that go through a long period of non-employment suffer large and long-term earnings losses (around 35-40 percent) compared to individuals with similar age and...

The Purchasing Power Parity Debate

By Alan M. Taylor and Mark P. Taylor

Journal of Economic Perspectives, Fall 2004

Originally propounded by the sixteenth-century scholars of the University of Salamanca, the concept of purchasing power parity (PPP) was revived in the interwar period in the context of the debate concerning the appropriate level at which to reestablish i...

Cycling to School: Increasing Secondary School Enrollment for Girls in India

By Karthik Muralidharan and Nishith Prakash

American Economic Journal: Applied Economics, July 2017

We study the impact of an innovative program in the Indian state of Bihar that aimed to reduce the gender gap in secondary school enrollment by providing girls who continued to secondary school with a bicycle that would improve access to school. Using d...

I Take Care of My Own: A Field Study on How Leadership Handles Conflict between Individual and Collective Incentives

By Romain Gauriot and Lionel Page

American Economic Review, May 2015

In most collective actions, individuals' incentives are not perfectly aligned with the goals of the group/team they are part of. We investigate how individual specific incentives affect both individuals and team leaders' strategies in a natural setting. W...

Teaching Students and Teaching Each Other: The Importance of Peer Learning for Teachers

By C. Kirabo Jackson and Elias Bruegmann

American Economic Journal: Applied Economics, October 2009

Using longitudinal elementary school teacher and student data, we document that students have larger test score gains when their teachers experience improvements in the observable characteristics of their colleagues. Using within-school and within-teac...

Physician Payment Reform and Hospital Referrals

By Kate Ho and Ariel Pakes

American Economic Review, May 2014

Commercial health insurers in California use provider capitation payments to different extents. These are similar to arrangements introduced by the recent health reforms to give physicians incentives to control costs. In a previous paper we showed that pa...

Was the New Deal Contractionary?

By Gauti B. Eggertsson

American Economic Review, February 2012

Can government policies that increase the monopoly power of firms and the militancy of unions increase output? This paper shows that the answer is yes under certain "emergency" conditions. These emergency conditions—zero interest rates and deflation...

Punishment and Deterrence: Evidence from Drunk Driving

By Benjamin Hansen

American Economic Review, April 2015

I test the effect of harsher punishments and sanctions on driving under the influence (DUI). In this setting, punishments are determined by strict rules on blood alcohol content (BAC) and previous offenses. Regression discontinuity derived estimates sugge...

Pharmaceuticals and the Developing World

[Symposium: Pharmaceuticals]

By Michael Kremer

Journal of Economic Perspectives, Fall 2002

Pharmaceuticals have greatly improved health in developing countries, but many people in developing countries do not obtain even inexpensive pharmaceuticals and little pharmaceutical R&D is oriented toward products needed by developing countries, such as ...

Is the Price Level Determined by the Needs of Fiscal Solvency?

By Matthew B. Canzoneri, Robert E. Cumby, and Behzad T. Diba

American Economic Review, December 2001

The fiscal theory of price determination suggests that if primary surpluses evolve independently of government debt, the equilibrium price level "jumps" to assure fiscal solvency. In this non-Ricardian regime, fiscal policy--not monetary policy--provides ...

The Wage Effects of Offshoring: Evidence from Danish Matched Worker-Firm Data

By David Hummels, Rasmus Jørgensen, Jakob Munch, and Chong Xiang

American Economic Review, June 2014

We employ data that match the population of Danish workers to the universe of private-sector Danish firms, with product-level trade flows by origin- and destination-countries. We document new stylized facts about offshoring and instrument for offshoring...

Proofs and Prototypes for Sale: The Licensing of University Inventions

By Richard Jensen and Marie Thursby

American Economic Review, March 2001

Proponents of the Bayh-Dole Act argue that industrial use of federally funded research would be reduced without university patent licensing. Our survey of U.S. universities supports this view, emphasizing the embryonic state of most technologies licensed ...

Retrospectives: Do Productive Recessions Show the Recuperative Powers of Capitalism? Schumpeter's Analysis of the Cleansing Effect

By Muriel Dal Pont Legrand and Harald Hagemann

Journal of Economic Perspectives, Winter 2017

Schumpeter has often been interpreted as a "liquidationist," someone who is convinced that economic crises are necessary and unavoidable, and thus that government nonintervention is a sound policy in such crises. The first two sections of this paper dis...

Psychology and the Market

By Edward L. Glaeser

American Economic Review, May 2004

Firm Size Distortions and the Productivity Distribution: Evidence from France

By Luis Garicano, Claire Lelarge, and John Van Reenen

American Economic Review, November 2016

We show how size-contingent laws can be used to identify the equilibrium and welfare effects of labor regulation. Our framework incorporates such regulations into the Lucas (1978) model and applies it to France where many labor laws start to bind on firms...