Can Affirmative Action Be Cost Effective? An Experimental Examination of Price-Preference Auctions

By Allan Corns and Andrew Schotter

American Economic Review, March 1999

Medicare Reform: Fundamental Problems, Incremental Steps

[Symposium: The Future of Medicare]

By Mark McClellan

Journal of Economic Perspectives, Spring 2000

This paper presents an overview of the Medicare reform debate. I begin by reviewing some of the features of Medicare and then turn to a discussion of reforms, both on the benefits side and on the financing side of the program. The reform proposals raise d...

Aggregation Bias in the Factor Content of Trade: Evidence from U.S. Manufacturing

By Robert C. Feenstra and Gordon H. Hanson

American Economic Review, May 2000

Biological Basics and the Economics of the Family

[Symposium: Household Economics]

By Donald Cox

Journal of Economic Perspectives, Spring 2007

Many economic models of the family are based on a generic "person 1 - person 2" household or "parent - child" family, rather than their anatomically correct counterparts: sons and daughters, fathers and mothers, and grandfathers and grandmothers. These ec...

Optimal Regional Redistribution under Asymmetric Information

By Massimo Bordignon, Paolo Manasse, and Guido Tabellini

American Economic Review, June 2001

Individual Consumption Risk and the Welfare Cost of Business Cycles

By Massimiliano De Santis

American Economic Review, September 2007

We measure the welfare gain from removing aggregate consumption fluctuations in a model where each individual faces incomplete consumption insurance. We show that, because this welfare gain is a convex function of the overall consumption risk—aggreg...

The Economics Major as Part of a Liberal Education: The Teagle Report: Comment

By George Daly

American Economic Review, May 2009

Puzzles: The Arbitrage Mirage, Wait Watchers, and More

By Barry Nalebuff

Journal of Economic Perspectives, Summer 1989

This feature begins with three puzzles motivated by the paradox of the "greener envelope," which was described in detail in the Winter 1989 issue. Following these exchange paradoxes are two longer puzzles, also with answers provided at the end. The longer...

Market Structure and Racial Earnings: Evidence from Job-Changers

By Jacqueline Agesa, Richard U. Agesa, and Gary A. Hoover

American Economic Review, May 2001

How Do Gasoline Prices Affect Fleet Fuel Economy?

By Shanjun Li, Christopher Timmins, and Roger H. von Haefen

American Economic Journal: Economic Policy, August 2009

Exploiting a rich dataset of passenger vehicle registrations in 20 US MSAs from 1997 to 2005, we examine the effects of gasoline prices on the automotive fleet's composition. We find that high gasoline prices affect fleet fuel economy through two chann...

Industrial Structure and Capital Flows

By Keyu Jin

American Economic Review, August 2012

This paper provides a new theory of international capital flows. In a framework that integrates factor-proportions-based trade and financial capital flows, a novel force emerges: capital tends to flow toward countries that become more specialized in capi...

The Impact of Family Income on Child Achievement: Evidence from the Earned Income Tax Credit: Comment

By Samuel Lundstrom

American Economic Review, February 2017

In a recent article in the American Economic Review, Dahl and Lochner (2012) use changes in the Earned Income Tax Credit to estimate the causal effect of family income on child achievement. Their instrumental variable (IV) estimates imply that a ...

Bimetallism Revisited

By Milton Friedman

Journal of Economic Perspectives, Fall 1990

Until recently, I shared what I take to be the conventional view of monetary economists about the relative merits of bimetallism and gold monometallism: namely, that bimetallism is an unstable and unsatisfactory monetary standard involving frequent shifts...

Artistic Originals as a Capital Asset

By Rachel Soloveichik

American Economic Review, May 2010

Disasters and Recoveries

By Francois Gourio

American Economic Review, May 2008

Economics of Development and the Development of Economics

By Pranab Bardhan

Journal of Economic Perspectives, Spring 1993

The purpose of this paper is to restore some historical perspective by highlighting the many contributions of development economics to the rest of economics. We will point out to the younger generations how some of the glittering ideas they currently play...

The Criminal Justice Response to Policy Interventions: Evidence from Immigration Reform

By Sarah Bohn, Matthew Freedman, and Emily Owens

American Economic Review, May 2015

Changes in the treatment of individuals by the criminal justice system following a policy intervention may bias estimates of the effects of the intervention on underlying criminal activity. We explore the importance of such changes in the context of the I...

Offshoring in a Ricardian World

By Andrés Rodríguez-Clare

American Economic Journal: Macroeconomics, April 2010

This paper proposes a Ricardian model to understand the short-run and long-run aggregate effects of increased fragmentation and offshoring on rich and poor countries. The short-run analysis shows that, when offshoring is sufficiently high, further incr...

How Costly Is Protectionism?

By Robert C. Feenstra

Journal of Economic Perspectives, Summer 1992

How costly is protectionism? This paper begins from a U.S. perspective, examining the costs to both the U.S. and other countries from U.S. protectionism. It emphasizes that substantial costs are imposed on foreign countries by U.S. protectionism. These co...

The Efficacy of Collaborative Learning Recitation Sessions on Student Outcomes

By Kim P. Huynh, David T. Jacho-Chávez, and James K. Self

American Economic Review, May 2010