Optimal Intermediary Rents

By Josef Schroth

American Economic Journal: Macroeconomics, January 2016

This paper studies a dynamic production economy with financial intermediation. It is assumed that claims held on intermediaries cannot be fully enforced such that intermediation is subject to intermediary equity requirements. It is shown that competitive ...

Behind the GATE Experiment: Evidence on Effects of and Rationales for Subsidized Entrepreneurship Training

By Robert W. Fairlie, Dean Karlan, and Jonathan Zinman

American Economic Journal: Economic Policy, May 2015

Theories of market failures and targeting motivate the promotion of entrepreneurship training programs and generate testable predictions regarding heterogeneous treatment effects from such programs. Using a large randomized evaluation in the United States...

Minutes of the Annual Business Meeting: Philadelphia, PA, January 4, 2014

By Peter L. Rousseau

American Economic Review, May 2014

Subjective Well-Being and Income: Is There Any Evidence of Satiation?

By Betsey Stevenson and Justin Wolfers

American Economic Review, May 2013

Many scholars have argued that once "basic needs" have been met, further rises in income are not associated with further increases in subjective well-being. We assess the validity of this claim in comparisons of both rich and poor countries, and also of r...

Recommendations for Further Reading

By Bernard Saffran

Journal of Economic Perspectives, Spring 1988

Seeking the Roots of Entrepreneurship: Insights from Behavioral Economics

[Symposium: Entrepreneurship]

By Thomas Astebro, Holger Herz, Ramana Nanda, and Roberto A. Weber

Journal of Economic Perspectives, Summer 2014

There is a growing body of evidence that many entrepreneurs seem to enter and persist in entrepreneurship despite earning low risk-adjusted returns. This has lead to attempts to provide explanations—using both standard economic theory and behavioral...

Policy Watch: Government Analysis of the Benefits and Costs of Regulation

By Robert W. Hahn

Journal of Economic Perspectives, Fall 1998

Recently, Congress has shown a greater interest in assessing the economic impact of regulation. This interest was driven in part by estimates that federal regulation costs several hundred billion dollars annually. In 1996, Congress required the director o...

Modernizing China's Growth Paradigm

By Eswar S. Prasad and Raghuram G. Rajan

American Economic Review, May 2006

Trade and Carbon Taxes

By Joshua Elliott, Ian Foster, Samuel Kortum, Todd Munson, Fernando Pérez Cervantes, and David Weisbach

American Economic Review, May 2010

The Market Evaluation of Criminality: Evidence from the Auction of British Convict Labor in America, 1767-1775

By Farley Grubb

American Economic Review, March 2001

Land and Racial Wealth Inequality

By Melinda C. Miller

American Economic Review, May 2011

Could racial wealth inequality have been reduced if freed slaves had been granted land following the Civil War? This paper exploits a plausibly exogenous variation in policies of the Cherokee Nation and southern United States to identify the impact of fre...

Recommendations for Further Reading

By Bernard Saffran

Journal of Economic Perspectives, Fall 1994

Retrospectives: Animal Spirits

By Roger Koppl

Journal of Economic Perspectives, Summer 1991

John Maynard Keynes argued that when the conditions for rational action are not present, people are driven by "animal spirits." This article briefly considers Keynes' argument, and the history of the term.

Eight Reasons Why Real versus Nominal Interest Rates Is the Most Important Concept in Macroeconomics Principles Courses

By Peter E. Kennedy

American Economic Review, May 2000

Did Medicare Induce Pharmaceutical Innovation?

By Daron Acemoglu, David Cutler, Amy Finkelstein, and Joshua Linn

American Economic Review, May 2006

The Lack of an Empirical Rationale for a Revival of Discretionary Fiscal Policy

By John B. Taylor

American Economic Review, May 2009

International Data on Measuring Management Practices

By Nicholas Bloom, Renata Lemos, Raffaella Sadun, Daniela Scur, and John Van Reenen

American Economic Review, May 2016

We examine methods used to survey firms on their management and organizational practices. We contrast the strengths and weaknesses of "open ended questions" (like the World Management Survey) with "closed questions" (like the MOPS). For this type of data,...

Wages and Employment in a Random Social Network with Arbitrary Degree Distribution

By Yannis M. Ioannides and Adriaan R. Soetevent

American Economic Review, May 2006

Have Gender Gaps in Insurance Coverage and Access to Care Narrowed under Health Reform? Findings from Massachusetts

By Sharon K. Long, Karen Stockley, and Shanna Shulman

American Economic Review, May 2011

Under its health reform legislation, Massachusetts has achieved near universal insurance coverage, along with significant gains in health care access and affordability. This paper examines the impacts of health reform in Massachusetts on differences in co...

Tax Competition When Governments Lack Commitment: Excess Capacity as a Countervailing Threat

By Eckhard Janeba

American Economic Review, December 2000