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Showing 3,701-3,720 of 16,566 items.

Rational Exuberance

By Stephen F. Le Roy

Journal of Economic Literature, September 2004

This article reviews the theory of speculative bubbles. Bubbles are a promising candidate as an explanation for the stock price run-up and collapse of the 1990s in the United States. The theory considers both irrational and rational bubbles, with emphasis...

www.aeaweb.org/articles?id=10.1257/0022051042177711

Field Experiments

By Glenn W. Harrison and John A. List

Journal of Economic Literature, December 2004

Experimental economists are leaving the reservation. They are recruiting subjects in the field rather than in the classroom, using field goods rather than induced valuations, and using field context rather than abstract terminology in instructions. We arg...

www.aeaweb.org/articles?id=10.1257/0022051043004577

Heterogeneity and Aggregation

By Richard Blundell and Thomas M. Stoker

Journal of Economic Literature, June 2005

This survey covers recent solutions to aggregation problems in three application areas, consumer demand analysis, consumption growth and wealth, and labor participation and wages. Each area involves treatment of heterogeneity and nonlinearity at the indiv...

www.aeaweb.org/articles?id=10.1257/0022051054661486

The Political Resource Curse

By Fernanda Brollo, Tommaso Nannicini, Roberto Perotti, and Guido Tabellini

American Economic Review, August 2013

This paper studies the effect of additional government revenues on political corruption and on the quality of politicians, both with theory and data. The theory is based on a political agency model with career concerns and endogenous entry of candidate...

www.aeaweb.org/articles?id=10.1257/aer.103.5.1759

How Sovereign Is Sovereign Credit Risk?

By Francis A. Longstaff, Jun Pan, Lasse H. Pedersen, and Kenneth J. Singleton

American Economic Journal: Macroeconomics, April 2011

We study the nature of sovereign credit risk using an extensive set of sovereign CDS data. We find that the majority of sovereign credit risk can be linked to global factors. A single principal component accounts for 64 percent of the variation in soverei...

www.aeaweb.org/articles?id=10.1257/mac.3.2.75

Economics in the Laboratory

By Vernon L. Smith

Journal of Economic Perspectives, Winter 1994

The questions addressed in this paper include: What is a laboratory experiment? What are the reasons why economists conduct such experiments? What have we learned? Among the many findings of experiments are included: institutions (the rules of exchange) m...

www.aeaweb.org/articles?id=10.1257/jep.8.1.113

Friends in High Places

By Lauren Cohen and Christopher J. Malloy

American Economic Journal: Economic Policy, August 2014

We demonstrate that personal connections amongst US politicians have a significant impact on Senate voting behavior. Networks based on alumni connections between politicians are consistent predictors of voting behavior. We estimate sharp measures that con...

www.aeaweb.org/articles?id=10.1257/pol.6.3.63