Selective Trials: A Principal-Agent Approach to Randomized Controlled Experiments

By Sylvain Chassang, Gerard Padró I Miquel, and Erik Snowberg

American Economic Review, June 2012

We study the design of randomized controlled experiments when outcomes are significantly affected by experimental subjects' unobserved effort expenditure. While standard randomized controlled trials (RCTs) are internally consistent, the unobservability o...

Misallocation and the Distribution of Global Volatility

By Maya Eden

American Economic Review, February 2017

Decreasing returns at the macro level are an outcome of efficiency at the micro level. When inputs are scarce, an efficient economy carries out only the most productive projects; when inputs are abundant, the economy implements less productive projects as...

A Test of Game-Theoretic and Behavioral Models of Play in Exchange and Insurance Environments

By Cary A. Deck

American Economic Review, December 2001

Correspondence

By Hans Werner Holub

Journal of Economic Perspectives, Fall 1989

Correspondence regarding: Theory versus Empiricism in Academic Economics: Update and Comparison

Rebalancing Frequency and the Welfare Cost of Inflation

By André C. Silva

American Economic Journal: Macroeconomics, April 2012

Cash-in-advance models usually require agents to reallocate money and bonds in fixed periods. Every month or quarter, for example. I show that fixed periods underestimate the welfare cost of inflation. I use a model in which agents choose how often they e...

How Important Are Idiosyncratic Shocks? Evidence from Labor Supply

By Kjetil Storesletten, Chris I. Telmer, and Amir Yaron

American Economic Review, May 2001

Are Risk Regulators Rational? Evidence from Hazardous Waste Cleanup Decisions

By W. Kip Viscusi and James T. Hamilton

American Economic Review, September 1999

Cracks in the Glass Ceiling: Gender and Promotion in the Economics Profession

By John M. McDowell, Larry D. Singell, and James P. Ziliak

American Economic Review, May 1999

From the Desk of the Managing Editor

[Symposium: 100 Issues of JEP]

By Timothy Taylor

Journal of Economic Perspectives, Spring 2012

Editing isn't "teaching" and it isn't "research," so in the holy trinity of academic responsibilities it is apparently bunched with faculty committees, student advising, and talks to the local Kiwanis club as part of "service." Yet for many economists, ed...

Heterogeneity in the Impact of Economic Cycles and the Great Recession: Effects within and across the Income Distribution

By Marianne Bitler and Hilary Hoynes

American Economic Review, May 2015

In this paper, we examine the effects of economic cycles on low- to moderate-income families. We use variation across states and over time to estimate the effects of cycles on the distribution of income, using fine gradations of the household income-to-po...

Recommendations for Further Reading

By Timothy Taylor

Journal of Economic Perspectives, Summer 2012

The Effect of Allowing Pollution Offsets with Imperfect Enforcement

By Hilary Sigman and Howard F. Chang

American Economic Review, May 2011

Public policies for pollution control, including climate change policies, sometimes allow polluters in one sector subject to an emissions cap to offset excessive emissions with pollution abatement in another sector. The government may find it more costly ...

Recommendations for Further Reading

By Bernard Saffran

Journal of Economic Perspectives, Spring 1991

Does Competition among Public Schools Benefit Students and Taxpayers?

By Caroline M. Hoxby

American Economic Review, December 2000

Tiebout choice among districts is the most powerful market force in American public education. Naive estimates of its effects are biased by endogenous district formation. I derive instruments from the natural boundaries in a metropolitan area. My results ...

Recommendations for Further Reading

By Timothy Taylor

Journal of Economic Perspectives, Fall 2008

Meddling Through: Regulating Local Telephone Competition in the United States

[Symposium: Telecommunications Deregulation Around The World]

By Robert G. Harris and C. Jeffrey Kraft

Journal of Economic Perspectives, Fall 1997

After a brief history of telecommunication policies and the development of local competition in the United States, this paper analyzes the Telecommunications Act of 1996 and subsequent FCC and state regulatory decisions. Unfortunately, these recent policy...

The Evolution of Managerial Expertise: How Corporate Culture Can Run Amok

By Dan Bernhardt, Eric Hughson, and Edward Kutsoati

American Economic Review, March 2006

This paper investigates how noisy evaluation of worker skills affects human capital investments and hiring. Individuals distort investments toward skills that most managers can evaluate. Dynamically, when workers become managers, managerial expertise can ...

Subjective Evaluations: Discretionary Bonuses and Feedback Credibility

By William Fuchs

American Economic Journal: Microeconomics, February 2015

We provide a new rationale for the use of discretionary bonuses. In a setting with unknown match qualities between a worker and a firm and subjective evaluations by the principal, bonuses are useful in order to make the feedback from the firm to the worke...

CBO's Analysis of the Macroeconomic Effects of the President's Budget

By Benjamin R. Page

American Economic Review, May 2005

Beliefs, Doubts and Learning: Valuing Macroeconomic Risk

By Lars Peter Hansen

American Economic Review, May 2007