How Economists Allocate Time to Teaching and Research

By Sam Allgood and William B. Walstad

American Economic Review, May 2013

This study investigates three questions: (i) are there differences in teaching and research behavior between economists and other professors; (ii) do economists in the top 100 research departments allocate time differently than faculty in other discipline...

When Do More Patents Reduce R&D?

By Robert M. Hunt

American Economic Review, May 2006

Charity Care, Risk Pooling, and the Decline in Private Health Insurance

By Michael Chernew, David Cutler, and Patricia Seliger Keenan

American Economic Review, May 2005

Financial Networks

By Douglas M. Gale and Shachar Kariv

American Economic Review, May 2007

Violence and Risk Preference: Experimental Evidence from Afghanistan

By Michael Callen, Mohammad Isaqzadeh, James D. Long, and Charles Sprenger

American Economic Review, January 2014

We investigate the relationship between violence and economic risk preferences in Afghanistan combining: (i) a two-part experimental procedure identifying risk preferences, violations of Expected Utility, and specific preferences for certainty; (ii) co...

What Goes Up Must Come Down? Experimental Evidence on Intuitive Forecasting

By John Beshears, James J. Choi, Andreas Fuster, David Laibson, and Brigitte C. Madrian

American Economic Review, May 2013

Do laboratory subjects correctly perceive the dynamics of a mean-reverting time series? In our experiment, subjects receive historical data and make forecasts at different horizons. The time series process that we use features short-run momentum and long-...

The Exchange Rate Response to Monetary Policy Innovations

By Viktoria Hnatkovska, Amartya Lahiri, and Carlos A. Vegh

American Economic Journal: Macroeconomics, April 2016

We present a new data fact: in response to a monetary tightening, the domestic currency tends to appreciate in developed countries but depreciate in developing countries. A model is developed to rationalize this contrasting pattern. It has three key chann...

Thar She Blows: Can Bubbles Be Rekindled with Experienced Subjects?

By Reshmaan N. Hussam, David Porter, and Vernon L. Smith

American Economic Review, June 2008

We report 28 new experiment sessions consisting of up to three experience levels to examine the robustness of learning and "error" elimination among participants in a laboratory asset market and its effect on price bubbles. Our answer to the title ques...

Quantitative Aggregate Economics

By Finn E. Kydland

American Economic Review, December 2006

On the Need for an International Lender of Last Resort

By Stanley Fischer

Journal of Economic Perspectives, Fall 1999

Is there a useful function for an international lender of last resort (ILLR)--defined as crisis lender and crisis manager? Yes for international capital flows are excessively volatile and contagious, and because an ILLR can help mitigate the effects of th...

Can Asia Overcome the IMF Stigma?

By Takatoshi Ito

American Economic Review, May 2012

Asian countries still have the IMF stigma, which originates from the experiences of the Asian crisis of 1997-98. The feeling of being unfairly treated grew even stronger afterward. The Asian countries built large foreign reserves, carried out structural r...

The Case for a New Fiscal Constitution

[Symposium: Bias in the Budget]

By William A. Niskanen

Journal of Economic Perspectives, Spring 1992

For the first 140 years of U.S. history, the federal budget was effectively constrained by two fiscal rules: the formal limits within the Constitution on the enumerated spending powers and an informal rule that the government could borrow only during rece...

Systemic Illiquidity in the Federal Funds Market

By Adam B. Ashcraft and Darrell Duffie

American Economic Review, May 2007

Individual Risk in an Investment-Based Social Security System

By Martin Feldstein and Elena Ranguelova

American Economic Review, September 2001

War, Inflation, and Social Capital

By Sergei Guriev and Nikita Melnikov

American Economic Review, May 2016

We use weekly data from 79 Russian regions to measure the impact of economic shocks and proximity to war in Ukraine on social capital in Russian regions. We proxy social capital by the relative intensity of internet searches for the most salient dimension...

The Anatomy of a Credit Crisis: The Boom and Bust in Farm Land Prices in the United States in the 1920s

By Raghuram Rajan and Rodney Ramcharan

American Economic Review, April 2015

Does credit availability exacerbate asset price inflation? Are there long run consequences? During the farm land price boom and bust before the Great Depression, we find that credit availability directly inflated land prices. Credit also amplified the rel...

The Shaping of Higher Education: The Formative Years in the United States, 1890 to 1940

[Symposium: The Economics of Higher Education]

By Claudia Goldin and Lawrence F. Katz

Journal of Economic Perspectives, Winter 1999

The authors trace the origins of the key features of U.S. higher education today--the coexistence of small liberal arts colleges and large research universities; the substantial share of enrollment in the public sector; and varying levels of support provi...

Community Size and Network Closure

By Hunt Allcott, Dean Karlan, Markus M. Möbius, Tanya S. Rosenblat, and Adam Szeidl

American Economic Review, May 2007

Does Teaching Enhance Research in Economics?

By William E. Becker and Peter E. Kennedy

American Economic Review, May 2005

Crises and the Development of Economic Institutions: Some Microeconomic Evidence

By Raghuram Rajan and Rodney Ramcharan

American Economic Review, May 2016

This paper studies the long run effects of financial crises using new bank and town level data from around the Great Depression. We find evidence that banking markets became much more concentrated in areas that experienced a greater initial collapse in th...