The Realization Effect: Risk-Taking after Realized versus Paper Losses

By Alex Imas

American Economic Review, August 2016

Understanding how prior outcomes affect risk attitudes is critical for the study of choice under uncertainty. A large literature documents the significant influence of prior losses on risk attitudes. The findings appear contradictory: some studies find gr...

Female Hires and the Success of Start-Up Firms

By Andrea Weber and Christine Zulehner

American Economic Review, May 2010

Discounting State and Local Pension Liabilities

By Jeffrey R. Brown and David W. Wilcox

American Economic Review, May 2009

Pitfalls of a Minimax Approach to Model Uncertainty

By Christopher A. Sims

American Economic Review, May 2001

Experimental Evidence on the Effects of Home Computers on Academic Achievement among Schoolchildren

By Robert W. Fairlie and Jonathan Robinson

American Economic Journal: Applied Economics, July 2013

Computers are an important part of modern education, yet many schoolchildren lack access to a computer at home. We test whether this impedes educational achievement by conducting the largest-ever field experiment that randomly provides free home comput...

Recommendations for Further Reading

By Timothy Taylor

Journal of Economic Perspectives, Winter 2009

Testing for a Reference Consumer in International Comparisons of Living Standards

By Ian Crawford and J. Peter Neary

American Economic Review, September 2008

Do Individual Retirement Accounts Increase Savings?

By Jane G. Gravelle

Journal of Economic Perspectives, Spring 1991

Do IRAs increase savings or are they merely a windfall for otherwise well-off taxpayers? A major objective of universal IRAs was to encourage saving for retirement. A spirited debate has ensued over the use of IRA tax deductions as a means of promoting pr...

Religious Workers' Density and the Racial Earnings Gap

By Fernando Lozano and Jessica Shiwen Cheng

American Economic Review, May 2016

We explore differences between Black and White Non-Hispanic workers in the relationship between childhood exposure to religious workers and a worker's labor market outcomes thirty years later. We identify this relationship by exploiting two sources of var...

Report of the Editor: American Economic Review (with Appendix by Philip J. Glandon)

By Robert A. Moffitt

American Economic Review, May 2011

Psychologists at the Gate: A Review of Daniel Kahneman's Thinking, Fast and Slow

By Andrei Shleifer

Journal of Economic Literature, December 2012

The publication of Daniel Kahneman's book, Thinking, Fast and Slow, is a major intellectual event. The book summarizes, but also integrates, the research that Kahneman has done over the past forty years, beginning with his path-breaking work with...

Asian Growth and African Development

By Marcos de Carvalho Chamon and Michael R. Kremer

American Economic Review, May 2006

Testing for Factor Price Equality with Unobserved Differences in Factor Quality or Productivity

By Andrew B. Bernard, Stephen J. Redding, and Peter K. Schott

American Economic Journal: Microeconomics, May 2013

We develop a method for identifying departures from relative factor price equality that is robust to unobserved variation in factor productivity. We implement this method using data on the relative wage bills of nonproduction and production workers acros...

Information Spillovers in Asset Markets with Correlated Values

By Vladimir Asriyan, William Fuchs, and Brett Green

American Economic Review, July 2017

We study information spillovers in a dynamic setting with correlated assets owned by privately informed sellers. In the model, a trade of one asset can provide information about the value of other assets. Importantly, the information content of trading be...

Patents and Research Investments: Assessing the Empirical Evidence

By Eric Budish, Benjamin N. Roin, and Heidi Williams

American Economic Review, May 2016

A well-developed theoretical literature--dating back at least to Nordhaus (1969)--has analyzed optimal patent policy design. We re-present the core trade-off of the Nordhaus model and highlight an empirical question which emerges from the Nordhaus framewo...

A Letter to Ben Bernanke

By N. Gregory Mankiw

American Economic Review, May 2006

Some Income-Measurement Issues and Their Policy Implications

By John C. Weicher

American Economic Review, May 1999

Trends in Economics and Other Undergraduate Majors

By Wendy A. Stock

American Economic Review, May 2017

Although economics' share of Bachelor's degrees awarded in the United States has been flat for over a decade, its share of second majors is growing. This paper documents trends and correlations in disciplines' shares of first and second majors for Bachelo...

Unmeasured Investment and the Puzzling US Boom in the 1990s

By Ellen R. McGrattan and Edward C. Prescott

American Economic Journal: Macroeconomics, October 2010

For the 1990s, the basic neoclassical growth model predicts a depressed economy, when in fact the US economy boomed. We extend the base model by introducing intangible investment and non-neutral technology change with respect to producing intangible inves...

Liability for Medical Malpractice

[Symposium: The Economics of Liability]

By Patricia M. Danzon

Journal of Economic Perspectives, Summer 1991

Physicians and other medical providers are subject to a negligence rule of liability. In a simple model, with perfect information and homogeneous physicians, a negligence rule of liability with an appropriately defined due care standard should induce comp...