Annotated Listing of New Books

Journal of Economic Literature, June 2007

JEL Classification System

Journal of Economic Literature, March 2007

Book Reviews

Journal of Economic Literature, June 2017

Participatory Politics, Social Cooperation, and Economic Stability

By Dani Rodrik

American Economic Review, May 2000

The Best of Times, the Worst of Times: Understanding Pro-cyclical Mortality

By Ann H. Stevens, Douglas L. Miller, Marianne E. Page, and Mateusz Filipski

American Economic Journal: Economic Policy, November 2015

It is well-known that mortality rates are pro-cyclical. In this paper, we attempt to understand why. We find little evidence that cyclical changes in individuals' own employment-related behavior drives the relationship; own-group employment rates are not ...

Network Externality: An Uncommon Tragedy

[Symposium: Network Externalities]

By S. J. Liebowitz and Stephen E. Margolis

Journal of Economic Perspectives, Spring 1994

Economists have defined 'network externality' and have examined putative inframarginal market failures associated with it. This paper distinguishes between network effects and network externalities, where the latter are market failures. The authors argue ...

Policy Watch: Corporate Average Fuel Economy Standards

By Robert W. Crandall

Journal of Economic Perspectives, Spring 1992

Initially, the minimum corporate average fuel economy (CAFE) program was promoted as a policy to reduce U.S. vulnerability to oil shocks. In the past two years, however, concern about global warming has resulted in new political pressures to raise CAFE on...

Poland under "Solidarity" Rule

By Stanislaw Wellisz

Journal of Economic Perspectives, Fall 1991

The coalition cabinet in which Solidarity played a leading role, but which also included Communists and their allies, won Parliamentary approval on September 12, 1989. This coalition inherited from the Communists an economy in deep crisis: inflation was r...

Annotated Listing of New Books

Journal of Economic Literature, June 2009

How the World Achieved Consensus on Monetary Policy

[Symposium: Monetary Policy]

By Marvin Goodfriend

Journal of Economic Perspectives, Fall 2007

The worldwide progress in monetary policy is a great achievement and, especially considering the situation 30 years ago, a remarkable success story. I describe how the world achieved a working consensus on the core principles of monetary policy by the lat...

Annotated Listing of New Books

Journal of Economic Literature, March 2009

The Effects of Privatization and Ownership in Transition Economies

By Saul Estrin, Jan Hanousek, Evzen Kocenda, and Jan Svejnar

Journal of Economic Literature, September 2009

In this paper, we evaluate what we have learned to date about the effects of privatization from the experiences during the last fifteen to twenty years in the postcommunist (transition) economies and, where relevant, China. We distinguish separately th...

General Index

Journal of Economic Literature, December 2008

Probability and Uncertainty in Economic Modeling

By Itzhak Gilboa, Andrew W. Postlewaite, and David Schmeidler

Journal of Economic Perspectives, Summer 2008

Economic modeling assumes, for the most part, that agents are Bayesian, that is, that they entertain probabilistic beliefs, objective or subjective, regarding any event in question. We argue that the formation of such beliefs calls for a deeper examinatio...

The Economics of Patents: Lessons from Recent U.S. Patent Reform

By Nancy T. Gallini

Journal of Economic Perspectives, Spring 2002

U.S. patent reform over the past two decades has strengthened the legal enforcement of patent rights and has extended protection to new subject matter, such as genetically engineered life forms and business methods. This paper highlights these and other p...

Traders' Expectations in Asset Markets: Experimental Evidence

By Ernan Haruvy, Yaron Lahav, and Charles N. Noussair

American Economic Review, December 2007

We elicit traders' predictions of future price trajectories in repeated experimental markets for a 15-period-lived asset. We find that individuals' beliefs about prices are adaptive, and primarily based on past trends in the current and previous markets...

Taking the Dogma out of Econometrics: Structural Modeling and Credible Inference

[Symposium: Con out of Economics]

By Aviv Nevo and Michael D. Whinston

Journal of Economic Perspectives, Spring 2010

Without a doubt, there has been a "credibility revolution" in applied econometrics. One contributing development has been in the improvement and increased use in data analysis of "structural methods"; that is, the use of models based in economic theory. ...

Development Effects of Electrification: Evidence from the Topographic Placement of Hydropower Plants in Brazil

By Molly Lipscomb, A. Mushfiq Mobarak, and Tania Barham

American Economic Journal: Applied Economics, April 2013

We estimate the development effects of electrification across Brazil over the period 1960-2000. We simulate a time series of hypothetical electricity grids for Brazil for the period 1960-2000 that show how the grid would have evolved had infrastructure...

Classroom Games: A Market for Lemons

By Charles A. Holt and Roger Sherman

Journal of Economic Perspectives, Winter 1999

The incentives that arise in markets with asymmetric information are illustrated in the classroom exercise presented here. Student sellers choose both a quality 'grade' and a price for their products. Initially, both prices and grades for all sellers are ...

Front Matter

Journal of Economic Literature, September 2015