Front Matter

American Economic Review, January 2019

Front Matter

American Economic Journal: Economic Policy, November 2019

Barriers to Reallocation and Economic Growth: The Effects of Firing Costs

By Toshihiko Mukoyama and Sophie Osotimehin

American Economic Journal: Macroeconomics, October 2019

We study how factors that hinder the reallocation of inputs across firms influence aggregate productivity growth. We extend Hopenhayn and Rogerson's (1993) firm-dynamics model to allow for endogenous innovation. We evaluate the effects of firing taxes on ...

Aggregate Recruiting Intensity

By Alessandro Gavazza, Simon Mongey, and Giovanni L. Violante

American Economic Review, August 2018

We develop an equilibrium model of firm dynamics with random search in the labor market where hiring firms exert recruiting effort by spending resources to fill vacancies faster. Consistent with microevidence, fast-growing firms invest more in recruiting ...

Estimating the Production Function for Human Capital: Results from a Randomized Controlled Trial in Colombia

By Orazio Attanasio, Sarah Cattan, Emla Fitzsimons, Costas Meghir, and Marta Rubio-Codina

American Economic Review, January 2020

We examine the channels through which a randomized early childhood intervention in Colombia led to significant gains in cognitive and socio-emotional skills among a sample of disadvantaged children aged 12 to 24 months at baseline. We estimate the determi...

Reducing Medical Spending of the Publicly Insured: The Case for a Cash-out Option

By Svetlana Pashchenko and Ponpoje Porapakkarm

American Economic Journal: Economic Policy, August 2019

Individuals' medical spending has both necessary and discretionary components, which are not, however, separately observable. This paper studies ways to improve upon existing public health insurance policies by using a framework where both the discretiona...

Discounting Disentangled

By Moritz A. Drupp, Mark C. Freeman, Ben Groom, and Frikk Nesje

American Economic Journal: Economic Policy, November 2018

The economic values of investing in long-term public projects are highly sensitive to the social discount rate (SDR). We surveyed over 200 experts to disentangle disagreement on the risk-free SDR into its component parts, including pure time preference, t...

A Model of Endogenous Loan Quality and the Collapse of the Shadow Banking System

By Francesco Ferrante

American Economic Journal: Macroeconomics, October 2018

I develop a macroeconomic model in which banks can affect loan quality by exerting costly screening effort. Informational frictions limit the amount of external funds that banks can raise. In this framework I consider two types of financial intermediation...

Book Reviews

Journal of Economic Literature, June 2018

Front Matter

American Economic Review, November 2018

Fiscal Centralization: Theory and Evidence from the Great Depression

By Daniele Coen-Pirani and Michael Wooley

American Economic Journal: Economic Policy, May 2018

The Great Depression produced a profound and lasting influence on the structure of US government. This paper studies theoretically and empirically the increased centralization of revenues and expenditures by the states relative to local governments during...

Corrigendum: Review of Oxford Handbook of Professional Economic Ethics by George F. Demartino and Diedre N. McCloskey, Reviewed by Anne Krueger

Journal of Economic Literature, June 2018

Front Matter

American Economic Review, July 2018

Medium- and Long-Term Educational Consequences of Alternative Conditional Cash Transfer Designs: Experimental Evidence from Colombia

By Felipe Barrera-Osorio, Leigh L. Linden, and Juan E. Saavedra

American Economic Journal: Applied Economics, July 2019

In 2005 the city of Bogota, Colombia, introduced three conditional cash transfer programs for secondary schooling, randomly assigning socioeconomically disadvantaged students to different payment structures. We show, through administrative data, that forc...

Advertising and Risk Selection in Health Insurance Markets

By Naoki Aizawa and You Suk Kim

American Economic Review, March 2018

This paper studies the impact of advertising as a channel for risk selection in Medicare Advantage. We provide evidence that insurer advertising is responsive to the gains from risk selection. Then we develop and estimate an equilibrium model of Medicare ...

Annotated Listing of New Books

Journal of Economic Literature, March 2020

Recovery from the Great Depression: The Farm Channel in Spring 1933

By Joshua K. Hausman, Paul W. Rhode, and Johannes F. Wieland

American Economic Review, February 2019

From March to July 1933, US industrial production rose 57 percent. We show that an important source of recovery was the effect of dollar devaluation on farm prices, incomes, and consumption. Devaluation immediately raised traded crop prices, and auto sale...

JEL Classification System

Journal of Economic Literature, March 2020

Front Matter

American Economic Journal: Macroeconomics, January 2019

Consumer Price Search and Platform Design in Internet Commerce

By Michael Dinerstein, Liran Einav, Jonathan Levin, and Neel Sundaresan

American Economic Review, July 2018

The platform design, the process that helps potential buyers on the internet navigate toward products they may purchase, plays a critical role in reducing search frictions and determining market outcomes. We study a key trade-off associated with two impor...