Correspondence

Journal of Economic Perspectives, Summer 1998

A Rehabilitation of Monetary Policy in the 1950's

By Christina D. Romer and David H. Romer

American Economic Review, May 2002

What Is Middle Class about the Middle Classes around the World?

[Symposium: Development]

By Abhijit V. Banerjee and Esther Duflo

Journal of Economic Perspectives, Spring 2008

We expect a lot from the middle classes. At least three distinct arguments about the special economic role of the middle class are traditionally made. In one, new entrepreneurs armed with a capacity and a tolerance for delayed gratification emerge from th...

The Tyranny of Budget Forecasts

By J. D. Foster and James C. Miller

Journal of Economic Perspectives, Summer 2000

The evolving federal budget process has placed increasing demands on, and given unique powers to, the economic forecasters at OMB, Treasury, CBO, and the Joint Tax Committee of Congress. On the whole, the forecasters have been highly professional in their...

The Microsoft Case: What Can a Dominant Firm Do to Defend Its Market Position?

[Symposium: The Microsoft Case]

By Benjamin Klein

Journal of Economic Perspectives, Spring 2001

This paper examines the competitive actions taken by Microsoft in its "browser war" with Netscape, most importantly Microsoft's decisions to give away Explorer free of charge, integrate Explorer into its dominant Windows operating system and pay online se...

The Perseverance of Paul Samuelson's Economics

By Mark Skousen

Journal of Economic Perspectives, Spring 1997

A reflection of the economics profession through Paul Samuelson's Economics. Samuelson offers an uneasy mix of laissez faire in micro and government interventionism in macro. In earlier editions, Keynesian thinking dominated, with an antisaving, progovern...

JEL Classification System

Journal of Economic Literature, December 2013

An Economist's Guide to U.S. v. Microsoft

[Symposium: The Microsoft Case]

By Richard J. Gilbert and Michael L. Katz

Journal of Economic Perspectives, Spring 2001

We analyze the central economic issues raised by U.S. v Microsoft. Network effects and economies of scale in applications programs created a barrier to entry for new operating system competitors, which the combination of Netscape Navigator and the Java pr...

Resisting Moral Wiggle Room: How Robust Is Reciprocal Behavior?

By Joël J. van der Weele, Julija Kulisa, Michael Kosfeld, and Guido Friebel

American Economic Journal: Microeconomics, August 2014

We provide the second mover in a trust game and a moonlighting game with an excuse for not reciprocating. While this type of manipulation has been shown to strongly reduce giving in the dictator game, we find that the availability of the excuse has no eff...

L₂-Boosting for Economic Applications

By Ye Luo and Martin Spindler

American Economic Review, May 2017

We present the L2-Boosting algorithm and two variants, namely post-Boosting and orthogonal Boosting. Building on results in Ye and Spindler (2016), we demonstrate how boosting can be used for estimation and inference of low-dimensional t...

Why Is Housing Finance Still Stuck in Such a Primitive Stage?

By Robert J. Shiller

American Economic Review, May 2014

The institutions for financing owner-occupied housing have not progressed as they should, and the financial innovation that has followed the financial crisis of 2007-2009 has not been focused on improving the risk management of individual homeowners. This...

Long Run Risks, the Macroeconomy, and Asset Prices

By Ravi Bansal, Dana Kiku, and Amir Yaron

American Economic Review, May 2010

Applicant Screening and Performance-Related Outcomes

By Fali Huang and Peter Cappelli

American Economic Review, May 2010

Elephants: Comment

By Erwin H. Bulte, Richard D. Horan, and Jason F. Shogren

American Economic Review, September 2003

Optimal Incentives for Teams: Comment

By Shingo Ishiguro

American Economic Review, December 2002

E-lections: Voting Behavior and the Internet

By Oliver Falck, Robert Gold, and Stephan Heblich

American Economic Review, July 2014

This paper analyzes the effects on voting behavior of information disseminated over the Internet. We address endogeneity in Internet availability by exploiting regional and technological peculiarities of the preexisting voice telephony network that hinder...

Front Matter

American Economic Journal: Economic Policy, February 2017

The Principal-Agent Approach to Testing Experts

By Wojciech Olszewski and Marcin Pęski

American Economic Journal: Microeconomics, May 2011

Recent literature on testing experts shows that it is often impossible to determine whether an expert knows the stochastic process that generates data. Despite this negative result, we show that there often exist contracts that allow a decision maker to a...

Do Labor Market Rigidities Have Microeconomic Effects? Evidence from within the Firm

By Francine Lafontaine and Jagadeesh Sivadasan

American Economic Journal: Applied Economics, April 2009

We exploit a unique outlet-level dataset from a multinational chain with over 2,500 outlets in 43 countries to investigate the effects of labor regulations that protect employment. The dataset contains information on output, materials, and labor costs ...

Community Structure and Market Outcomes: A Repeated Games-in-Networks Approach

By Itay P. Fainmesser

American Economic Journal: Microeconomics, February 2012

Consider a large market with asymmetric information, in which sellers have the option to "cheat" their buyers, and buyers decide whether to repurchase from different sellers. We model active trade relationships as links in a buyer-seller network and study...