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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. ...

www.aeaweb.org/articles?id=10.1257/aer.89.3.525

Competing for Endorsements

By Gene M. Grossman and Elhanan Helpman

American Economic Review, June 1999

Endorsements are a simple language for communication between interest group leaders and group members. The members, who share policy concerns, may not perfectly understand where their interests lie on certain issues. If their leaders cannot fully explain ...

www.aeaweb.org/articles?id=10.1257/aer.89.3.501

The Twin Crises: The Causes of Banking and Balance-of-Payments Problems

By Graciela L. Kaminsky and Carmen M. Reinhart

American Economic Review, June 1999

In the wake of the Mexican and Asian currency turmoil, the subject of financial crises have come to the forefront of academic and policy discussions. This paper analyzes the links between banking and currency crises. The authors find that problems in the ...

www.aeaweb.org/articles?id=10.1257/aer.89.3.473

A Schumpeterian Model of Protection and Relative Wages

By Elias Dinopoulos and Paul Segerstrom

American Economic Review, June 1999

This paper presents a dynamic general equilibrium model of R&D-based trade between two structurally identical countries in which both innovation and skill acquisition rates are endogenously determined. Trade liberalization increases R&D investment and the...

www.aeaweb.org/articles?id=10.1257/aer.89.3.450

Aid, Nontraded Goods, and the Transfer Paradox in Small Countries

By Makoto Yano and Jeffrey B. Nugent

American Economic Review, June 1999

This paper constructs a model of the transfer paradox for a small open economy with nontraded goods. It demonstrates that increased production of nontraded goods can change their domestic price so as to offset the otherwise beneficial effect of aid and, u...

www.aeaweb.org/articles?id=10.1257/aer.89.3.431

Voluntary Export Restraints on Automobiles: Evaluating a Trade Policy

By Steven Berry, James Levinsohn, and Ariel Pakes

American Economic Review, June 1999

The authors evaluate the voluntary export restraint that was initially placed on exports of automobiles from Japan in 1981. They evaluate the impact this policy had on U.S. consumer welfare, firm profits, and foregone tariff revenue from its initiation th...

www.aeaweb.org/articles?id=10.1257/aer.89.3.400

Does Trade Cause Growth?

By Jeffrey A. Frankel and David H. Romer

American Economic Review, June 1999

Examining the correlation between trade and income cannot identify the direction of causation between the two. Countries' geographic characteristics, however, have important effects on trade and are plausibly uncorrelated with other determinants of income...

www.aeaweb.org/articles?id=10.1257/aer.89.3.379