Preemption Games: Theory and Experiment

By Steven T. Anderson, Daniel Friedman, and Ryan Oprea

American Economic Review, September 2010

Several impatient investors with private costs Ci face an indivisible irreversible investment opportunity whose value V is governed by geometric Brownian motion. The first investor i to seize the opportunity receives ...

Teaching Statistics and Econometrics to Undergraduates

By William E. Becker and William H. Greene

Journal of Economic Perspectives, Fall 2001

Traditionally econometrics and economics statistics have been taught in the theory and proof, chalk and talk mode commonly found in the teaching of mathematics. We advance the use of computer technology in the teaching of quantitative methods to get stude...

Quantile Regression

[Symposium: Econometric Tools]

By Roger Koenker and Kevin F. Hallock

Journal of Economic Perspectives, Fall 2001

Quantile regression, as introduced by Koenker and Bassett (1978), may be viewed as an extension of classical least squares estimation of conditional mean models to the estimation of an ensemble of models for several conditional quantile functions. The cen...

Intertemporal Depletion of Resource Sites by Spatially Distributed Users

By Gerard Gaudet, Michel Moreaux, and Stephen W. Salant

American Economic Review, September 2001

Recommendations for Further Reading

By Timothy Taylor

Journal of Economic Perspectives, Summer 2009

The Surprisingly Swift Decline of US Manufacturing Employment

By Justin R. Pierce and Peter K. Schott

American Economic Review, July 2016

This paper links the sharp drop in US manufacturing employment after 2000 to a change in US trade policy that eliminated potential tariff increases on Chinese imports. Industries more exposed to the change experience greater employment loss, increased imp...

Decoupling and Recoupling

By Anton Korinek, Agustin Roitman, and Carlos A. Végh

American Economic Review, May 2010

Do Output Contractions Cause Investment in Fiscal Capacity?

By Christian Gillitzer

American Economic Journal: Economic Policy, May 2017

This paper shows that an economic slump can induce a government to invest in fiscal capacity. Large negative income shocks stress the revenue-raising capability of narrow tax bases, making an increase in tax base breadth desirable relative to its fixed im...

Front Matter

American Economic Journal: Macroeconomics, January 2017

Coarse Competitive Equilibrium and Extreme Prices

By Faruk Gul, Wolfgang Pesendorfer, and Tomasz Strzalecki

American Economic Review, January 2017

We introduce a notion of coarse competitive equilibrium, to study agents' inability to tailor their consumption to prices. Our goal is to incorporate limited cognitive ability (in particular limited attention, memory, and complexity) into the analysis of ...

Rules and Authorities in International Monetary Arrangements: The Role of the Central Bank

By Robert Z. Aliber

American Economic Review, May 2000

Risk, Delay, and Convex Self-Control Costs

By Drew Fudenberg and David K. Levine

American Economic Journal: Microeconomics, August 2011

We develop a dual-self model of self-control that is compatible with modern dynamic macroeconomic theory and evidence. We show that a convex cost of self-control explains a wide range of behavioral anomalies concerning risk, including the Allais paradox,...

Intermediation Reduces Punishment (and Reward)

By Lucas C. Coffman

American Economic Journal: Microeconomics, November 2011

This paper shows moral decision making is not well predicted by the overall fairness of an act but rather by the fairness of the consequences that follow directly. In laboratory experiments, third-party punishment for keeping money from a poorer player de...

Law, Coercion, and Expression: A Review Essay on Frederick Schauer's The Force of Law and Richard McAdams's The Expressive Powers of Law

By Eric Rasmusen

Journal of Economic Literature, September 2017

What is law and why do people obey it? This question from jurisprudence has recently been tackled using the tools of economics. The field of law and economics has long studied how fines and imprisonment affect behavior. Nobody believes, however, that all ...

The Medium-Term Impact of Medicare Part D on Pharmaceutical Prices

By Mark G. Duggan and Fiona Scott Morton

American Economic Review, May 2011

Medicare Part D began coverage of prescription drugs in 2006. Using data from the first year of the program we found that Part D reduced pharmaceutical prices for Medicare recipients, with these effects driven by enrollees previously without drug coverage...

Can Mobile Phones Improve Learning? Evidence from a Field Experiment in Niger

By Jenny C. Aker, Christopher Ksoll, and Travis J. Lybbert

American Economic Journal: Applied Economics, October 2012

The returns to educational investments hinge on whether such investments can improve the quality and persistence of educational gains. We report the results from a randomized evaluation of an adult education program in Niger, in which some students learne...

The Winner's Curse and Public Information in Common Value Auctions: Comment

By James C. Cox, Samuel H. Dinkin, and Vernon L. Smith

American Economic Review, March 1999

The Real Effects of Monetary Shocks in Sticky Price Models: A Sufficient Statistic Approach

By Fernando Alvarez, Hervé Le Bihan, and Francesco Lippi

American Economic Review, October 2016

We prove that the ratio of kurtosis to the frequency of price changes is a sufficient statistic for the real effects of monetary shocks, measured by the cumulated output response following the shock. The sufficient statistic result holds in a large class ...

Reviews of the 2006 Economic Report of the President

By Alan Auerbach, Rebecca Blank, Martin Feldstein, Michael Katz, and Kenneth Rogoff

Journal of Economic Literature, September 2006

The Journal of Economic Literature regularly reviews books of interest to the economics profession. The 2006 Economic Report of the President (ERP) falls under that purview. In the reviews that follow, Martin Feldstein reviews the overview c...

Mechanism Design in Large Games: Incentives and Privacy

By Michael Kearns, Mallesh M. Pai, Aaron Roth, and Jonathan Ullman

American Economic Review, May 2014

We study the design of mechanisms satisfying a novel desideratum: privacy. This requires the mechanism not reveal "much" about any agent's type to other agents. We propose the notion of joint differential privacy: a variant of differential privacy used in...