Recommendations for Further Reading

By Bernard Saffran

Journal of Economic Perspectives, Spring 2000

Evidence for Countercyclical Risk Aversion: An Experiment with Financial Professionals

By Alain Cohn, Jan Engelmann, Ernst Fehr, and Michel André Maréchal

American Economic Review, February 2015

Countercyclical risk aversion can explain major puzzles such as the high volatility of asset prices. Evidence for its existence is, however, scarce because of the host of factors that simultaneously change during financial cycles. We circumvent these p...

Report of the Director: Job Openings for Economists

By John J. Siegfried

American Economic Review, May 2013

Saving whilst Gambling: An Empirical Analysis of UK Premium Bonds

By Peter Tufano

American Economic Review, May 2008

Self-Enforcing Trade Agreements: Evidence from Time-Varying Trade Policy

By Chad P. Bown and Meredith A. Crowley

American Economic Review, April 2013

The Bagwell and Staiger (1990) theory of cooperative trade agreements predicts new tariffs (i) increase with imports, (ii) increase with the inverse of the sum of the import demand and export supply elasticities, and (iii) decrease with the variance of im...

The Rise of Female Professionals: Are Women Responding to Skill Demand?

By Sandra E. Black and Chinhui Juhn

American Economic Review, May 2000

Assessing the Property Rights and Transaction-Cost Theories of Firm Scope

By Michael D. Whinston

American Economic Review, May 2001

Consumption Inequality and Family Labor Supply

By Richard Blundell, Luigi Pistaferri, and Itay Saporta-Eksten

American Economic Review, February 2016

We examine the link between wage and consumption inequality using a life-cycle model incorporating consumption and family labor supply decisions. We derive analytical expressions for the dynamics of consumption, hours, and earnings of two earners in the p...

The Evolutionary Basis of Time Preference: Intergenerational Transfers and Sex

By Arthur J. Robson, Balazs Szentes, and Emil Iantchev

American Economic Journal: Microeconomics, November 2012

We consider the evolutionary basis of time discounting with intergenerational transfers. We show that the notion of "reproductive value" from biology provides the utility criterion for a parent to optimize the allocation of resources between transfers to...

The Economic Impacts of Climate Change: Evidence from Agricultural Output and Random Fluctuations in Weather: Comment

By Anthony C. Fisher, W. Michael Hanemann, Michael J. Roberts, and Wolfram Schlenker

American Economic Review, December 2012

In a series of studies employing a variety of approaches, we have found that the potential impact of climate change on US agriculture is likely negative. Deschênes and Greenstone (2007) report dramatically different results based on regressions of agr...

Hyperbolic Discounting and the Sustainability of Rotational Savings Arrangements

By Karna Basu

American Economic Journal: Microeconomics, November 2011

People across the developing world join rotational savings and credit associations (roscas) to fund repeated purchases of nondivisible goods. When the scope for punishment is weak, there is a natural question about why agents not defect from roscas. This ...

Behavioral Responses to Wealth Taxes: Evidence from Sweden

By David Seim

American Economic Journal: Economic Policy, November 2017

This paper provides an empirical assessment of an annual wealth tax. Using Swedish administrative data, I estimate net-of-tax-rate elasticities of taxable wealth in the range [0.09, 0.27]. Cross-checking self-reported assets against asset data unavailable...

Declining Business Dynamism: What We Know and the Way Forward

By Ryan A. Decker, John Haltiwanger, Ron S. Jarmin, and Javier Miranda

American Economic Review, May 2016

A growing body of evidence indicates that the U.S. economy has become less dynamic in recent years. This trend is evident in declining rates of gross job and worker flows as well as declining rates of entrepreneurship and young firm activity, and the tren...

Elasticity Optimism

By Jean Imbs and Isabelle Mejean

American Economic Journal: Macroeconomics, July 2015

On average, estimates of trade elasticities are smaller in aggregate data than at sector level. This is an artifact of aggregation. Estimations performed on aggregate data constrain sector elasticities to homogeneity, which creates a heterogeneity bias. T...

The Quiet Revolution That Transformed Women's Employment, Education, and Family

By Claudia Goldin

American Economic Review, May 2006

An Interview with William J. Baumol

By Alan B. Krueger

Journal of Economic Perspectives, Summer 2001

Fiscal Externalities and Optimal Unemployment Insurance

By Nicholas Lawson

American Economic Journal: Economic Policy, November 2017

A common finding of the optimal unemployment insurance (UI) literature is that the optimal replacement rate is around 50 percent; however, a key assumption is that UI is the only government spending activity. I show that optimal UI levels may be dramatica...

Relative Income, Happiness, and Utility: An Explanation for the Easterlin Paradox and Other Puzzles

By Andrew E. Clark, Paul Frijters, and Michael A. Shields

Journal of Economic Literature, March 2008

The well-known Easterlin paradox points out that average happiness has remained constant over time despite sharp rises in GNP per head. At the same time, a micro literature has typically found positive correlations between individual income and individ...

The Changing Role of Government in Financing Health Care: An International Perspective

By Mark Stabile and Sarah Thomson

Journal of Economic Literature, June 2014

This paper explores the changing role of government involvement in health care financing policy outside the United States. It provides a review of the economics literature in this area to elucidate the implications of recent policy changes on efficiency, ...

Estate Taxation with Altruism Heterogeneity

By Emmanuel Farhi and Iván Werning

American Economic Review, May 2013

We develop a theory of optimal estate taxation in a model where bequest inequality is driven by differences in parental altruism. We show that a wide range of results are possible, from positive taxes to subsidies. The results depend on redistributive obj...