Housing Market Spillovers: Evidence from an Estimated DSGE Model

By Matteo Iacoviello and Stefano Neri

American Economic Journal: Macroeconomics, April 2010

We study sources and consequences of fluctuations in the US housing market. Slow technological progress in the housing sector explains the upward trend in real housing prices of the last 40 years. Over the business cycle, housing demand and housing tec...

International Productivity Comparisons Built from the Firm Level

By Martin Neil Baily and Robert M. Solow

Journal of Economic Perspectives, Summer 2001

International productivity comparisons can be built up with micro and macro data. Studies of firms or groups of firms producing similar outputs reveal the deeper causes of differences in productivity across countries. The studies find that such difference...

Report of the Editor: American Economic Journal: Macroeconomics

By Richard Rogerson

American Economic Review, May 2016

Social Security

By Peter Diamond

American Economic Review, March 2004

The Impact of Temporary Protected Status on Immigrants' Labor Market Outcomes

By Pia M. Orrenius and Madeline Zavodny

American Economic Review, May 2015

The United States currently provides Temporary Protected Status (TPS) to more than 300,000 immigrants. TPS is typically granted if dangerous conditions prevail in migrants' home countries. Individuals with TPS are allowed to stay and work in the United St...

The Demand for Medical Male Circumcision

By Jobiba Chinkhumba, Susan Godlonton, and Rebecca Thornton

American Economic Journal: Applied Economics, April 2014

This paper measures the demand for adult medical male circumcision using an experiment that randomly offered varying-priced subsidies and comprehensive information to 1,600 uncircumcised men in urban Malawi. We find low demand for male circumcision: on...

Dynamic Implications of Subjective Expectations: Evidence from Adult Smokers

By Yang Wang

American Economic Journal: Applied Economics, January 2014

We set up a dynamic discrete choice model with subjective expectations data to explain adult smokers' find important differences between subjective survival probabilities and those estimated using observed mortality data. Subjectively, individuals att...

Behavioral Economics Comes of Age: A Review Essay on Advances in Behavioral Economics

By Wolfgang Pesendorfer

Journal of Economic Literature, September 2006

Advances in Behavioral Economics contains influential second-generation contributions to behavioral economics. Building on the seminal work by Kahnemann, Strotz, Thaler, Tversky, and others, these contributions have established behavioral economi...

Market Exposure and Endogenous Firm Volatility over the Business Cycle

By Ryan A. Decker, Pablo N. D'Erasmo, and Hernan Moscoso Boedo

American Economic Journal: Macroeconomics, January 2016

We propose a theory of endogenous firm-level risk over the business cycle based on endogenous market exposure. Firms that reach a larger number of markets diversify market-specific demand shocks at a cost. The model is driven only by total factor producti...

Offshoring and Volatility: Evidence from Mexico's Maquiladora Industry

By Paul R. Bergin, Robert C. Feenstra, and Gordon H. Hanson

American Economic Review, September 2009

This paper studies the second-moment properties of offshoring, the arrangement whereby firms carry out particular stages of production abroad. It documents a new empirical regularity: maquiladora industries in Mexico that are associated with US offshoring...

Restructuring Research: Communication Costs and the Democratization of University Innovation

By Ajay Agrawal and Avi Goldfarb

American Economic Review, September 2008

We report evidence that Bitnet adoption facilitated increased research collaboration between US universities. However, not all institutions benefited equally. Using panel data from seven top engineering journals, Bitnet connection records, and institution...

Sraffa, Wittgenstein, and Gramsci

By Amartya Sen

Journal of Economic Literature, December 2003

Two distinct but interrelated issues are investigated here. The first concerns Sraffa's critical role in contemporary philosophy through his pivotal influence on Wittgenstein. The intellectual origins of this profound influence can be traced to the philos...

Guilt in Games

By Pierpaolo Battigalli and Martin Dufwenberg

American Economic Review, May 2007

Deconstructing the Energy-Efficiency Gap: Conceptual Frameworks and Evidence

By Todd Gerarden, Richard G. Newell, and Robert N. Stavins

American Economic Review, May 2015

Energy-efficient technologies offer considerable promise for reducing the financial costs and environmental damages associated with energy use, but these technologies appear not to be adopted to the degree that appears justified, even on a purely private ...

Beaches, Sunshine, and Public Sector Pay: Theory and Evidence on Amenities and Rent Extraction by Government Workers

By Jan K. Brueckner and David Neumark

American Economic Journal: Economic Policy, May 2014

Rent extraction by public sector workers may be limited by the ability of taxpayers to vote with their feet. But rent extraction may be higher in regions where high amenities mute the migration response. This paper develops a theoretical model that pre...

Adverse Selection and Auction Design for Internet Display Advertising

By Nick Arnosti, Marissa Beck, and Paul Milgrom

American Economic Review, October 2016

We model an online display advertising environment in which "performance" advertisers can measure the value of individual impressions, whereas "brand" advertisers cannot. If advertiser values for ad opportunities are positively correlated, second-price au...

The Choice between Market Failures and Corruption

By Daron Acemoglu and Thierry Verdier

American Economic Review, March 2000

Because government intervention transfers resources from one party to another, it creates room for corruption. As corruption often undermines the purpose of the intervention, governments will try to prevent it. They may create rents for bureaucrats, induc...

Bargaining with Arrival of New Traders

By William Fuchs and Andrzej Skrzypacz

American Economic Review, June 2010

We study dynamic bargaining with asymmetric information and arrival of exogenous events, which represent arrival of traders or information. We characterize the unique limit of stationary equilibria with frequent offers. The possibility of arrivals change...

Data Watch: Tort-uring the Data

By Eric Helland, Jonathan Klick, and Alexander Tabarrok

Journal of Economic Perspectives, Spring 2005

This article discusses data available for researchers interested in the U.S. civil justice system and illustrates the uses of the various datasets with some interesting findings. Our focus is on torts, defined as an injury to person or property that is no...

Modeling Bond Yields in Finance and Macroeconomics

By Francis X. Diebold, Monika Piazzesi, and Glenn D. Rudebusch

American Economic Review, May 2005