Hungary: In Transition to a Market Economy

By Paul G. Hare

Journal of Economic Perspectives, Fall 1991

Hungary began its transition to a market economy as long ago as 1968 with the adoption of the New Economic Mechanism, when detailed central planning was abandoned and the economy was regulated by means of financial and economic levers. However, after a pe...

Why Is the Teen Birth Rate in the United States So High and Why Does It Matter?

By Melissa S. Kearney and Phillip B. Levine

Journal of Economic Perspectives, Spring 2012

Why is the rate of teen childbearing is so unusually high in the United States as a whole, and in some U.S. states in particular? U.S. teens are two and a half times as likely to give birth as compared to teens in Canada, around four times as likely as te...

Product Creation and Destruction: Evidence and Price Implications

By Christian Broda and David E. Weinstein

American Economic Review, June 2010

This paper describes the extent of product creation and destruction in a large sector of the US economy. We find four times more entry and exit in product markets than is found in labor markets because most product turnover happens within firms. Net produ...

The Macrodynamics of Sorting between Workers and Firms

By Jeremy Lise and Jean-Marc Robin

American Economic Review, April 2017

We develop an equilibrium model of on-the-job search with ex ante heterogeneous workers and firms, aggregate uncertainty, and vacancy creation. The model produces rich dynamics in which the distributions of unemployed workers, vacancies, and worker-firm m...

The Rise of the Service Economy

By Francisco J. Buera and Joseph P. Kaboski

American Economic Review, October 2012

This paper analyzes the role of specialized high-skilled labor in the disproportionate growth of the service sector. Empirically, the importance of skill-intensive services has risen during a period of increasing relative wages and quantities of high-skil...

Optimal Mirrleesean Taxation in a Ben-Porath Economy

By Marek Kapička

American Economic Journal: Macroeconomics, April 2015

I characterize optimal taxes in a life-cycle economy where ability and human capital are unobservable. I show that unobservable human capital effectively makes preferences over labor nonseparable across age. I generalize the static optimal tax formulas to...

Two Happiness Puzzles

By Angus Deaton and Arthur A. Stone

American Economic Review, May 2013

We consider two happiness puzzles. First, many studies show that only relative income matters for well-being. Yet the Gallup data for the United States and from the rest of the world show no such result, at least for life evaluation. There may be relative...

Inside China's Cities: Institutional Barriers and Opportunities for Urban Migrants

By Feng Wang and Xuejin Zuo

American Economic Review, May 1999

Market Failure and Government Failure

[Symposium: The State and Economic Development]

By Mrinal Datta-Chaudhuri

Journal of Economic Perspectives, Summer 1990

For several decades a debate has been raging in development economics on the relative virtues of the free market as opposed to state intervention, with neither side convincing the other. While this sterile debate continues, experiences accumulated from re...

Information, Direct Access to Farmers, and Rural Market Performance in Central India

By Aparajita Goyal

American Economic Journal: Applied Economics, July 2010

This paper estimates the impact of a change in procurement strategy of a private buyer in the central Indian state of Madhya Pradesh. Beginning in October 2000, Internet kiosks and warehouses were established that provide wholesale price information and ...

Manipulation of Procurement Contracts: Evidence from the Introduction of Discretionary Thresholds

By Ján Palguta and Filip Pertold

American Economic Journal: Economic Policy, May 2017

We present evidence of how policies that create opportunities to avoid open competition in procurement lead to the manipulation of procurement values. We exploit a policy reform in which public bodies were given the autonomy to preselect potential contrac...

The Impact of Individual Teachers on Student Achievement: Evidence from Panel Data

By Jonah E. Rockoff

American Economic Review, May 2004

Front Matter

American Economic Journal: Microeconomics, February 2017

Correction and Update: The Economic Effects of Climate Change

By Richard S. J. Tol

Journal of Economic Perspectives, Spring 2014

Gremlins intervened in the preparation of my paper "The Economic Effects of Climate Change" published in the Spring 2009 issue of this journal. In Table 1 of that paper, titled "Estimates of the Welfare Impact of Climate Change," minus signs were dropped ...

Correction: Governance and Growth in Sub-Saharan Africa

By Benno J. Ndulu and Stephen A. O'Connell

Journal of Economic Perspectives, Summer 2000

Estimation of an Education Production Function under Random Assignment with Selection

By Eleanor Jawon Choi, Hyungsik Roger Moon, and Geert Ridder

American Economic Review, May 2014

This paper estimates an education production function using data on the College Scholastic Ability Test score and high school characteristics from Seoul, Korea, where, on entering high school, students are randomly assigned to schools within each school d...

Retrospectives: The Cyclical Behavior of Labor Productivity and the Emergence of the Labor Hoarding Concept

By Jeff E. Biddle

Journal of Economic Perspectives, Spring 2014

The concept of "labor hoarding," at least in its modern form, was first fully articulated in the early 1960s by Arthur Okun (1963). By the end of the 20th century, the concept of "labor hoarding" had become an accepted part of economists' explanations of ...

Notes

Journal of Economic Perspectives, Summer 2000

Recommendations for Further Reading

Journal of Economic Perspectives, Summer 1998

Recommendations for Further Reading

By Bernard Saffran

Journal of Economic Perspectives, Summer 2000