Recommendations for Further Reading

By Timothy Taylor

Journal of Economic Perspectives, Summer 2018

Book Reviews

Journal of Economic Literature, December 2019

A Quantitative Theory of Information, Worker Flows, and Wage Dispersion

By Amanda M. Michaud

American Economic Journal: Macroeconomics, April 2018

Employer learning provides a link between wage and employment dynamics. Workers who are selectively terminated when their low productivity is revealed subsequently earn lower wages. If learning is asymmetric across employers, randomly separated high-produ...

JEL Classification System

Journal of Economic Literature, June 2019

JEL Classification System

Journal of Economic Literature, December 2019

Selling to Advised Buyers

By Andrey Malenko and Anton Tsoy

American Economic Review, April 2019

In many cases, buyers are not informed about their valuations and rely on experts, who are informed but biased for overbidding. We study auction design when selling to such "advised buyers." We show that a canonical dynamic auction, the English auction, h...

Riddles and Models: A Review Essay on Michel De Vroey's A History of Macroeconomics from Keynes to Lucas and Beyond

By Costas Azariadis

Journal of Economic Literature, December 2018

This essay reviews Michel De Vroey's important new book on the history of macroeconomics, which extends to business cycles an earlier book by the same author on the history of involuntary unemployment. The review also offers a broader nontechnical surve...

Disguising Lies—Image Concerns and Partial Lying in Cheating Games

By Kiryl Khalmetski and Dirk Sliwka

American Economic Journal: Microeconomics, November 2019

We study equilibrium reporting behavior in cheating games when agents have a fixed cost of lying and image concerns not to be perceived as a liar. We show that equilibria naturally arise in which agents with low costs of lying randomize among a set of the...

Sand Castles before the Tide? Affordable Housing in Expensive Cities

[Symposium: Housing]

By Gabriel Metcalf

Journal of Economic Perspectives, Winter 2018

This article focuses on cities with unprecedented economic success and a seemingly permanent crisis of affordable housing. In the expensive cities, policymakers expend great amounts of energy trying to bring down housing costs with subsidies for afforda...

Front Matter

American Economic Review, April 2019

Energy Cost Pass-Through in US Manufacturing: Estimates and Implications for Carbon Taxes

By Sharat Ganapati, Joseph S. Shapiro, and Reed Walker

American Economic Journal: Applied Economics, April 2020

We study how changes in energy input costs for US manufacturers affect the relative welfare of manufacturing producers and consumers (i.e., incidence). We also develop a methodology to estimate the incidence of input taxes that accounts for incomplete pas...

Public Debt and Low Interest Rates

By Olivier Blanchard

American Economic Review, April 2019

This lecture focuses on the costs of public debt when safe interest rates are low. I develop four main arguments. First, I show that the current US situation, in which safe interest rates are expected to remain below growth rates for a long time, is mor...

Annotated Listing of New Books

Journal of Economic Literature, March 2019

Adverse Selection in ACA Exchange Markets: Evidence from Colorado

By Matthew Panhans

American Economic Journal: Applied Economics, April 2019

This study tests for adverse selection in the Affordable Care Act (ACA) health insurance exchanges established in 2014 and quantifies the welfare consequences. Using a new statewide dataset of medical claims from Colorado, I use plausibly exogenous premiu...

Estimating Group Effects Using Averages of Observables to Control for Sorting on Unobservables: School and Neighborhood Effects

By Joseph G. Altonji and Richard K. Mansfield

American Economic Review, October 2018

We consider the classic problem of estimating group treatment effects when individuals sort based on observed and unobserved characteristics. Using a standard choice model, we show that controlling for group averages of observed individual characteristics...

Minutes of the Meeting of the Executive Committee: Philadelphia, PA, January 4, 2018

By Peter L. Rousseau

AEA Papers and Proceedings, May 2018

Front Matter

American Economic Review, April 2020

Quality Overprovision in Cable Television Markets

By Gregory S. Crawford, Oleksandr Shcherbakov, and Matthew Shum

American Economic Review, March 2019

We measure the welfare distortions from endogenous quality choice in imperfectly competitive markets. For US cable television markets between 1997–2006, prices are 33 percent to 74 percent higher and qualities 23 percent to 55 percent higher than social...

Uninsured Unemployment Risk and Optimal Monetary Policy in a Zero-Liquidity Economy

By Edouard Challe

American Economic Journal: Macroeconomics, April 2020

I study optimal monetary policy in a sticky-price economy wherein households precautionary-save against uninsured, endogenous unemployment risk. In this economy greater unemployment risk raises desired savings, causing aggregate demand to fall and feed ...

JEL Classification System

Journal of Economic Literature, March 2019