Top of the Batch: Interviews and the Match

By Federico Echenique, Ruy González, Alistair J. Wilson, and Leeat Yariv

American Economic Review: Insights, June 2022

Most doctors in the National Resident Matching Program (NRMP) match with one of their most preferred internship programs. However, surveys indicate doctors' preferences are similar, suggesting a puzzle: how can so many doctors match with their top choices...

The Liquidity Sensitivity of Healthcare Consumption: Evidence from Social Security Payments

By Tal Gross, Timothy J. Layton, and Daniel Prinz

American Economic Review: Insights, June 2022

Insurance is typically viewed as a mechanism for transferring resources from good to bad states. However, insurance may also transfer resources from high-liquidity periods to low-liquidity periods. We test for this type of transfer from health insurance b...

Insurance Design and Pharmaceutical Innovation

By Leila Agha, Soomi Kim, and Danielle Li

American Economic Review: Insights, June 2022

This paper studies how insurance coverage policies impact pharmaceutical innovation. In the United States, most patients obtain prescription drugs through insurance plans administered by Pharmacy Benefit Managers (PBMs). Beginning in 2012, PBMs began refu...

Robust Predictions in Coasian Bargaining

By Heng Liu

American Economic Review: Insights, June 2022

This paper studies robust predictions when players may have additional information in an otherwise standard seller-offer bargaining with private values. Players' extra information gives rise to higher-order uncertainties about the underlying surplus. We s...

Unequal Jury Representation and Its Consequences

By Shamena Anwar, Patrick Bayer, and Randi Hjalmarsson

American Economic Review: Insights, June 2022

We analyze the extent and consequences of unequal representation on juries in Harris County, Texas. We first document that residents from predominantly White and high-income neighborhoods are substantially overrepresented on juries. Using quasirandom vari...

A Global Version of Samuelson's Dictum

By Yaqing Xiao, Hongjun Yan, and Jinfan Zhang

American Economic Review: Insights, June 2022

Samuelson's Dictum refers to the conjecture that there is more informational inefficiency at the aggregate stock market level than at the individual stock level. Our paper recasts it in a global setup: there should be more informational inefficiency at th...

The Commitment Benefit of Consols in Government Debt Management

By Davide Debortoli, Ricardo Nunes, and Pierre Yared

American Economic Review: Insights, June 2022

We consider optimal government debt maturity in a deterministic economy in which the government can issue any arbitrary debt maturity structure and in which bond prices are a function of the government's current and future primary surpluses. The governmen...

Front Matter

American Economic Review: Insights, June 2022

Satisficing: Integrating Two Traditions

By Florian M. Artinger, Gerd Gigerenzer, and Perke Jacobs

Journal of Economic Literature, June 2022

In 1955, Herbert Simon introduced the notion of satisficing: an agent satisfices by searching for an alternative that meets an aspiration level but does not optimize. We survey more than 60 years of advances in understanding satisficing in economics, psyc...

An Analysis of the Literature on International Unconventional Monetary Policy

By Saroj Bhattarai and Christopher J. Neely

Journal of Economic Literature, June 2022

This paper evaluates the literature on international unconventional monetary policies (UMPs). Introducing market segmentation, limits-to-arbitrage, and time-consistent policy in standard models permits a theoretical role for UMP. Empirical studies provide...

Front Matter

Journal of Economic Literature, June 2022

Book Reviews

Journal of Economic Literature, June 2022

Annotated Listing of New Books

Journal of Economic Literature, June 2022

JEL Classification System

Journal of Economic Literature, June 2022

Committee Spotlight: Q&A with the CSQIEP Co-Chairs M. V. Lee Badgett and Christopher Carpenter

[News]

May 17, 2022

The CSQIEP Co-Chairs M. V. Lee Badgett and Christopher Carpenter answer some questions about the committee's mission and activities.

Call for Nominations for the 2022 New Deal Book Award

[News]

June 02, 2022

The deadline for submissions is November 14, 2022.

China’s Grand Canal

[Page]

Does disruption of major trade routes fuel social unrest?

2022 NBER NSF Seminar on Bayesian Inference in Econometrics and Statistics (SBIES)

[News]

June 06, 2022

The seminar will be held online August 12-13, 2022.

The agricultural roots of economic growth

[Research Highlight]

June 10, 2022

Did agricultural diversity in mid-nineteenth-century America lead to today’s higher standards of living?

Agricultural Diversity, Structural Change, and Long-Run Development: Evidence from the United States

By Martin Fiszbein

American Economic Journal: Macroeconomics, April 2022

This paper examines the role of agricultural diversity in the process of development. Using data from US counties and exploiting climate-induced variation in agricultural production patterns, I show that mid-nineteenth-century agricultural diversity had p...