Identity in Court Decision-Making

By Ulrika Ahrsjö, Susan Niknami, and Mårten Palme

American Economic Journal: Economic Policy, November 2024

We explore the role of identity along multiple dimensions in high-stakes decision-making. Our data contain information about demographic and socioeconomic indicators for defendants and randomly assigned jurors in a Swedish court. Our results show that def...

Achieving Air Pollution Control Targets with Technology-Aided Monitoring: Better Enforcement or Localized Efforts?

By Lin Yang, Yatang Lin, Jin Wang, and Fangyuan Peng

American Economic Journal: Economic Policy, November 2024

Weak enforcement of environmental regulations remains a global issue due to inadequate monitoring and misaligned incentives. This paper examines the effects of automated monitoring on achieving air pollution control targets amidst China's war on pollution...

The School-to-Prison Pipeline: Long-Run Impacts of School Suspensions on Adult Crime

By Andrew Bacher-Hicks, Stephen B. Billings, and David J. Deming

American Economic Journal: Economic Policy, November 2024

Schools must balance student behavior management with the potential negatives of strict discipline. These policies can deter misbehavior but may stigmatize students and expose them to the criminal justice system early. We assess the impact of attending a ...

High Schools Tailored to Adults Can Help Them Complete a Traditional Diploma and Excel in the Labor Market

By Rebecca Brough, David C. Phillips, and Patrick S. Turner

American Economic Journal: Economic Policy, November 2024

Over 18 million adults in the United States lack a high school credential. While some go on to attain the GED, diplomas are potentially more valuable. A network of high schools helps adults graduate by providing tailored curricula, nonacademic coaching, o...

Education and Geographical Mobility: The Role of the Job Surplus

By Michael Amior

American Economic Journal: Economic Policy, November 2024

Better educated workers accept many more long-distance job offers, and relocate quicker following local shocks. I attribute this to a fundamental feature of their labor market experience, unrelated to geography: large returns to job match quality. If a go...

The Carrot and the Stick: Bank Bailouts and the Disciplining Role of Board Appointments

By Christian Mücke, Loriana Pelizzon, Vincenzo Pezone, and Anjan Thakor

American Economic Journal: Economic Policy, November 2024

We empirically examine the Capital Purchase Program (CPP) used by the US government to bail out distressed banks and its implications for regulatory policy. We find strong evidence that a feature of the CPP—the government's ability to appoint independen...

How Do You Say Your Name? Difficult-to-Pronounce Names and Labor Market Outcomes

By Qi Ge and Stephen Wu

American Economic Journal: Economic Policy, November 2024

We test for labor market discrimination based on an understudied characteristic: name fluency. Analysis of recent economics PhD job candidates indicates that name difficulty is negatively related to the probability of landing an academic or tenure-track p...

Price Sensitivity and Information Barriers to the Take-up of Naloxone

By Mireille Jacobson and David Powell

American Economic Journal: Economic Policy, November 2024

We conducted a field experiment that randomized advertisements, advertisement content, and prices across 2,204 counties in the United States to study the impacts on online purchases of naloxone, an opioid overdose reversal drug. Advertising increased webs...

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Front Matter

Journal of Economic Perspectives, Fall 2024

Alexander Hamilton's Report on Manufactures and Industrial Policy

[Symposium: Industrial Policy]

By Richard Sylla

Journal of Economic Perspectives, Fall 2024

Hamilton's 1791 state paper on manufactures is a forward-looking argument for US industrialization supported by public policies designed to encourage it. Conventional wisdom circa 1790, along with static considerations of comparative advantage indicated t...

Evaluating Behavioral Incentive Compatibility: Insights from Experiments

[Symposium: Behavioral Incentive Compatibility]

By David Danz, Lise Vesterlund, and Alistair J. Wilson

Journal of Economic Perspectives, Fall 2024

Incentive compatibility is core to mechanism design. The success of auctions, matching algorithms, and voting systems all hinge on the ability to select incentives that make it in the individual's interest to reveal their type. But how do we test whether ...

Behavioral Incentive Compatibility and Empirically Informed Welfare Analysis: An Introductory Guide

[Symposium: Behavioral Incentive Compatibility]

By Alex Rees-Jones

Journal of Economic Perspectives, Fall 2024

A growing body of research conducts welfare analysis that assumes behavioral incentive compatibility—that is, that behavior is governed by pursuit of incentives conditional on modeled imperfections in decision-making. In this article, I present several ...

Designing Simple Mechanisms

[Symposium: Behavioral Incentive Compatibility]

By Shengwu Li

Journal of Economic Perspectives, Fall 2024

It matters whether real-world mechanisms are simple. If participants cannot see that a mechanism is incentive-compatible, they may refuse to participate or may behave in ways that undermine the mechanism. There are several ways to formalize what it means ...

The Problem of Good Conduct among Financial Advisers

By Mark Egan, Gregor Matvos, and Amit Seru

Journal of Economic Perspectives, Fall 2024

Households in the United States often rely on financial advisers for investment and savings decisions, yet there is a widespread perception that many advisers are dishonest. This distrust is not unwarranted: approximately one in fifteen advisers has a his...

Retrospectives: Friedman and Schwartz, Disaggregated

By Jennifer Burns

Journal of Economic Perspectives, Fall 2024

What was the contribution of Anna Schwartz to the landmark book she co-authored with Milton Friedman, A Monetary History of the United States, 1867–1960? A close examination of archival evidence suggests three primary contributions Schwartz mad...

The Political Economy of Industrial Policy

[Symposium: Industrial Policy]

By Réka Juhász and Nathan Lane

Journal of Economic Perspectives, Fall 2024

We examine the ways in which political realities shape industrial policy through the lens of modern political economy. We consider two broad "governance constraints": (1) the political forces that shape how industrial policy is chosen and (2) the ways in ...

Export-Led Industrial Policy for Developing Countries: Is There a Way to Pick Winners?

[Symposium: Industrial Policy]

By Tristan Reed

Journal of Economic Perspectives, Fall 2024

Industrial policy prioritizes growth in specific sectors. Yet there is little agreement about how to target sectors in practice, and many argue that governments cannot pick winners. This essay observes that governments can and do identify tradable sectors...