In Honor of Nobel Laureate, Franco Modigliani

By Robert C. Merton

Journal of Economic Perspectives, Fall 1987

When Gary Becker asked me to introduce Franco Modigliani on this occasion celebrating Franco's Nobel Prize, he noted that, by tradition, the honoree does not speak. It is the introducer who speaks, devoting 30 minutes or so to the laureate's chief contrib...

Partnerships versus Corporations: Moral Hazard, Sorting, and Ownership Structure

By Ayca Kaya and Galina Vereshchagina

American Economic Review, January 2014

Team production takes advantage of technological complementarities but comes with the cost of free-ridership. When workers differ in skills, the choice of sorting pattern may be associated with a nontrivial trade-off between exploiting the technologica...

Returning to the Returns to Computer Use

By Sabrina Wulff Pabilonia and Cindy Zoghi

American Economic Review, May 2005

Recommendations for Further Reading

By Timothy Taylor

Journal of Economic Perspectives, Fall 2007

Nineteenth-Century American Feminist Economics: From Caroline Dall to Charlotte Perkins Gilman

By Robert W. Dimand

American Economic Review, May 2000

Coalition Formation in a Legislative Voting Game

By Nels Christiansen, Sotiris Georganas, and John H. Kagel

American Economic Journal: Microeconomics, February 2014

We experimentally investigate the Jackson and Moselle (2002) model where legislators bargain over policy proposals and the allocation of private goods. Key comparative static predictions of the model hold with the introduction of private goods, including...

On the Simple Economics of Advertising, Marketing, and Product Design

By Justin P. Johnson and David P. Myatt

American Economic Review, June 2006

We propose a framework for analyzing transformations of demand. Such transformations frequently stem from changes in the dispersion of consumers' valuations, which lead to rotations of the demand curve. In many settings, profits are a U-shaped function...

Report of the Committee on the Status of Women in the Economics Profession 2010

By Barbara M. Fraumeni

American Economic Review, May 2011

Bounding the Labor Supply Responses to a Randomized Welfare Experiment: A Revealed Preference Approach

By Patrick Kline and Melissa Tartari

American Economic Review, April 2016

We study the short-term impact of Connecticut's Jobs First welfare reform experiment on women's labor supply and welfare participation decisions. A nonparametric optimizing model is shown to restrict the set of counterfactual choices compatible with ea...

The Income and Tax Share of Very High-Income Households, 1960-1995

By Daniel R. Feenberg and James M. Poterba

American Economic Review, May 2000

Behavioral Equilibrium in Economies with Adverse Selection

By Ignacio Esponda

American Economic Review, September 2008

I propose a new solution concept—behavioral equilibrium—to study environments with players who are naive, in the sense that they fail to account for the informational content of other players' actions. I apply the framework to certain adver...

Search, Liquidity, and the Dynamics of House Prices and Construction: Corrigendum

By Allen Head, Huw Lloyd-Ellis, and Hongfei Sun

American Economic Review, April 2016

Antitrust Leniency with Multiproduct Colluders

By Leslie M. Marx, Claudio Mezzetti, and Robert C. Marshall

American Economic Journal: Microeconomics, August 2015

We use a global games approach to model alternative implementations of an antitrust leniency program as applied to multiproduct colluders. We derive several policy design lessons; e.g., we show that it is possible that linking leniency across products inc...

Moving Up the Energy Ladder: The Effect of an Increase in Economic Well-Being on the Fuel Consumption Choices of the Poor in India

By Rema Hanna and Paulina Oliva

American Economic Review, May 2015

Rising household wealth may potentially impact both total fuel consumption and fuel-type composition, resulting in significant health and environmental implications. Using data from a field experiment in India, we explore the effects of a transfer program...

Policy Burdens, Accountability, and the Soft Budget Constraint

By Justin Yifu Lin and Guofu Tan

American Economic Review, May 1999

Book Reviews

Journal of Economic Literature, September 2011

Sticky Wages: Evidence from Quarterly Microeconomic Data

By Hervé Le Bihan, Jérémi Montornès, and Thomas Heckel

American Economic Journal: Macroeconomics, July 2012

Using an original micro-dataset from France, we investigate nominal wage stickiness. Nominal wage changes are found to occur at a quarterly frequency of around 38 percent over our sample period, and to be to a large extent staggered across establishments,...

Who Matters in Coordination Problems?

By József Sákovics and Jakub Steiner

American Economic Review, December 2012

Agents face a coordination problem akin to the adoption of a network technology. A principal announces investment subsidies that, at minimal cost, attain a given likelihood of successful coordination. Optimal subsidies target agents who impose high ext...

Book Reviews

Journal of Economic Literature, December 2013

Financial Risk Management: When Does Independence Fail?

By Augustin Landier, David Sraer, and David Thesmar

American Economic Review, May 2009