The Social Experiment Market

By David Greenberg, Mark Shroder, and Matthew Onstott

Journal of Economic Perspectives, Summer 1999

In social experiments, individuals, households, or organizations are randomly assigned to two or more policy interventions. Elsewhere, we have summarized 143 experiments completed by autumn 1996. Here, we use the information we have gathered on these expe...

Are State Governments Roadblocks to Federal Stimulus? Evidence on the Flypaper Effect of Highway Grants in the 2009 Recovery Act

By Sylvain Leduc and Daniel Wilson

American Economic Journal: Economic Policy, May 2017

This paper examines how state governments adjusted spending in response to the large temporary increase in federal highway grants under the 2009 American Recovery and Reinvestment Act (ARRA). The mechanism used to apportion ARRA highway grants to states a...

The Impacts of Microcredit: Evidence from Ethiopia

By Alessandro Tarozzi, Jaikishan Desai, and Kristin Johnson

American Economic Journal: Applied Economics, January 2015

We use data from a randomized controlled trial conducted in 2003-2006 in rural Amhara and Oromiya (Ethiopia) to study the impacts of increasing access to microfinance on a number of socioeconomic outcomes, including income from agriculture, animal husband...

An Analysis of Economic Warfare

By Jeffrey Clemens

American Economic Review, May 2013

I develop a framework for assessing economic warfare, which describes efforts to undermine adversaries' sources of income. The ability to target adversarial market participants is a primary determinant of the success of such efforts, as is the elasticity ...

Minority Groups in the Economics Profession

By Susan M. Collins

Journal of Economic Perspectives, Spring 2000

The primary objective of this paper is to provide information about minorities (blacks, Hispanics and Native Americans)in economics, at various stages in the education pipeline, and in the labor market. Despite sustained increases in the numbers and perce...

Macroeconomic Consequences of Population Aging in the United States: Overview of a National Academy Report

By Ronald D. Lee

American Economic Review, May 2014

The US population will age rapidly for several decades and then more slowly, with less aging than most rich nations. Health of the elderly has greatly improved, but disability stagnated after 2000. Retirement age reversed its decline in the mid-1990s and ...

Bank Integration and Transmission of Financial Shocks: Evidence from Japan

By Masami Imai and Seitaro Takarabe

American Economic Journal: Macroeconomics, January 2011

This paper investigates whether banking integration plays an important role in transmitting financial shocks across geographical boundaries by using a dataset on the branch network of nationwide city banks and prefecture-level dataset on the formation and...

Understanding Real Business Cycles

[Symposium: Real Business Cycles]

By Charles I. Plosser

Journal of Economic Perspectives, Summer 1989

This brief essay is intended to provide readers with an introduction to the real business cycle approach to business fluctuations. It discusses the basic real business cycle framework; economic growth and business cycles; real business cycles and the 1954...

Venture Capitals As Principals: Contracting, Screening, and Monitoring

By Steven N. Kaplan and Per Stromberg

American Economic Review, May 2001

Purchasing Power Parity Exchange Rates for the Global Poor

By Angus Deaton and Olivier Dupriez

American Economic Journal: Applied Economics, April 2011

The global poverty count uses a common global poverty line, often referred to as the dollar-a-day line, currently $1.25 at 2005 international prices, whose construction and application depends on purchasing power parity (PPP) exchange rates for consumptio...

Institutions, Factor Endowments, and Paths of Development in the New World

By Kenneth L. Sokoloff and Stanley L. Engerman

Journal of Economic Perspectives, Summer 2000

The explanations offered for the contrasting records of long-run growth and development among the societies of North and South America most often focus on institutions. The traditional explanations for the sources of these differences in institutions, typ...

Choice under Uncertainty: Problems Solved and Unsolved

By Mark J. Machina

Journal of Economic Perspectives, Summer 1987

Fifteen years ago, the theory of choice under uncertainty could be considered one of the "success stories" of economic analysis: it rested on solid axiomatic foundations, it had seen important breakthroughs in the analytics of risk, risk aversion, and the...

Report of the Editor: Journal of Economic Literature

By Janet Currie

American Economic Review, May 2011

Taxes, High-Income Executives, and the Perils of Revenue Estimation in the New Economy

By Austan Goolsbee

American Economic Review, May 2000

Bias in Cable News: Persuasion and Polarization

By Gregory J. Martin and Ali Yurukoglu

American Economic Review, September 2017

We measure the persuasive effects of slanted news and tastes for like-minded news, exploiting cable channel positions as exogenous shifters of cable news viewership. Channel positions do not correlate with demographics that predict viewership and voting, ...

Black-White Achievement Differences and Governmental Interventions

By Eric A. Hanushek

American Economic Review, May 2001

In Honor of Lawrence H. Summers, Winner of the John Bates Clark Medal

By James M. Poterba

Journal of Economic Perspectives, Winter 1995

This paper summarizes the research contributions of Lawrence Summers, who was awarded the 1993 John Bates Clark Medal by the American Economic Association. It focuses on research in four subfields of economics: public finance, labor economies, financial e...

Nobel Laureate: Trygve Haavelmo

By Karl Ove Moene and Asbjorn Rodseth

Journal of Economic Perspectives, Summer 1991

Trygve Haavelmo was in the United States from 1939 to 1947, and in this period he published most of his path-breaking contributions to econometrics for which the Nobel committee awarded him the prize. His list of publications after 1947 contains more than...

Why Personal Ties Cannot Be Bought

By Alessandra Casella and Nobuyuki Hanaki

American Economic Review, May 2006

Auctions in Markets: Common Outside Options and the Continuation Value Effect

By Stephan Lauermann and Gábor Virág

American Economic Journal: Microeconomics, November 2012

In this paper, we study auctions with outside options provided by future market interaction focusing on the revenue effects of some information revelation policies. We show that auctions with less information revelation may yield higher revenues. In parti...