Discriminatory Information Disclosure

By Hao Li and Xianwen Shi

American Economic Review, November 2017

A seller designs a mechanism to sell a single object to a potential buyer whose private type is his incomplete information about his valuation. The seller can disclose additional information to the buyer about his valuation without observing its realiza...

Correspondence: Human Resources in South Korea

By Semoon Chang

Journal of Economic Perspectives, Summer 1991

Youth Smoking in the 1990's: Why Did It Rise and What Are the Long-Run Implications?

By Jonathan Gruber

American Economic Review, May 2001

Borrowing Constraints and Homeownership

By Arthur Acolin, Jesse Bricker, Paul Calem, and Susan Wachter

American Economic Review, May 2016

This paper identifies the impact of borrowing constraints on homeownership in the U.S. in the aftermath of the 2008 financial crisis. While homeownership declines and tightened credit are evident, the role the tightening of credit has had on the probabili...

Organizational Structure, Communication, and Group Ethics

By Matthew Ellman and Paul Pezanis-Christou

American Economic Review, December 2010

This paper investigates experimentally how a group's structure affects its ethical behavior towards a passive outsider. We analyze one vertical and two horizontal structures (one requiring consensus, one implementing a compromise by averaging proposals). ...

Spatial Competition and Cross-Border Shopping: Evidence from State Lotteries

By Brian Knight and Nathan Schiff

American Economic Journal: Economic Policy, November 2012

This paper investigates competition between jurisdictions in the context of cross-border shopping for state lottery tickets. Our theoretical model, in which consumers consider both travel costs and lottery payoffs, predicts that per-resident sales should ...

Organizational Culture and Performance

By Elizabeth A. Martinez, Nancy Beaulieu, Robert Gibbons, Peter Pronovost, and Thomas Wang

American Economic Review, May 2015

Organizations are all around us. Culture is trickier—to analyze and even to see. We consider both the effect of management on culture and the effect of culture on performance. We begin by describing an intervention that dramatically improved outcome...

Immigrants Equilibrate Local Labor Markets: Evidence from the Great Recession

By Brian C. Cadena and Brian K. Kovak

American Economic Journal: Applied Economics, January 2016

This paper demonstrates that low-skilled Mexican-born immigrants' location choices respond strongly to changes in local labor demand, which helps equalize spatial differences in employment outcomes for low-skilled native workers. We leverage the substanti...

Not All Oil Price Shocks Are Alike: Disentangling Demand and Supply Shocks in the Crude Oil Market

By Lutz Kilian

American Economic Review, June 2009

Shocks to the real price of oil may reflect oil supply shocks, shocks to the global demand for all industrial commodities, or demand shocks that are specific to the crude oil market. Each shock has different effects on the real price of oil and on US macr...

Bounding Revenue Comparisons across Multi-Unit Auction Formats under ε-Best Response

By James T. E. Chapman, David McAdams, and Harry J. Paarsch

American Economic Review, May 2007

The Effects of Medicare on Medical Expenditure Risk and Financial Strain

By Silvia Helena Barcellos and Mireille Jacobson

American Economic Journal: Economic Policy, November 2015

Medicare offers substantial protection from medical expenditure risk, protection that has increased in recent years. At age 65, out-of-pocket expenditures drop by 33 percent at the mean and 53 percent at the ninety-fifth percentile. Medical-related financ...

On the Efficiency of Codeshare Contracts between Airlines: Is Double Marginalization Eliminated?

By Philip G. Gayle

American Economic Journal: Microeconomics, November 2013

Previous research has suggested that codeshare agreements eliminate double marginalization that exists when unaffiliated airlines independently determine the price for different segments of an interline trip. Using a structural econometric model, this ...

Moving Pollution Trading from Air to Water: Potential, Problems, and Prognosis

[Symposium: Trading Pollution Permits]

By Karen Fisher-Vanden and Sheila Olmstead

Journal of Economic Perspectives, Winter 2013

This paper seeks to assess the current status of water quality trading and to identify possible problems and solutions. Water pollution permit trading programs have rarely been comprehensively described and analyzed in the peer-reviewed literature. Includ...

Budget Deficits and National Saving: Are Politicians Exogenous?

[Symposium: Budget Deficit]

By Edward M. Gramlich

Journal of Economic Perspectives, Spring 1989

After years of relative abstinence, the United States has experimented with persistent budget deficits on a rather massive scale in the 1980s. Economists have generally been quite critical of this fiscal policy, though there are respectable minority views...

Guns, Butter, and Openness: On the Relationship between Security and Trade

By Stergios Skaperdas and Constantinos Syropoulos

American Economic Review, May 2001

Understanding the Returns to Delayed Childbearing for Working Women

By Kasey Buckles

American Economic Review, May 2008

Infrequent Portfolio Decisions: A Solution to the Forward Discount Puzzle

By Philippe Bacchetta and Eric van Wincoop

American Economic Review, June 2010

A major puzzle in international finance is that high interest rate currencies tend to appreciate (forward discount puzzle). Motivated by the fact that only a small fraction of foreign currency holdings is actively managed, we calibrate a two-country model...

A Theory of Participation in Elections

By Timothy Feddersen and Alvaro Sandroni

American Economic Review, September 2006

We analyze a model of participation in elections in which voting is costly and no vote is pivotal. Ethical agents are motivated to participate when they determine that agents of their type are obligated to do so. Unlike previous duty-based models of parti...

Women's Wages in Women's Work: A U.S./Canada Comparison of the Roles of Unions and "Public Goods" Sector Jobs

By Michael Baker and Nicole M. Fortin

American Economic Review, May 1999

Growth Accounting with Misallocation: Or, Doing Less with More in Singapore

By John Fernald and Brent Neiman

American Economic Journal: Macroeconomics, April 2011

We show that in a two-sector economy with heterogeneous capital subsidies and monopoly power, primal and dual measures of TFP growth can diverge from each other as well as from true technology. These distortions give rise to dynamic reallocation effects t...