Incorporating Limited Rationality into Economics

By Matthew Rabin

Journal of Economic Literature, June 2013

Harstad and Selten (this forum) raise interesting questions about the relative promise of optimization models and bounded-rationality models in making progress in economics. This article builds from their analysis by indicating the potential for using n...

What Students Learn in Economics 101: Time for a Change

By Samuel Bowles and Wendy Carlin

Journal of Economic Literature, March 2020

We make the case for a shift in what students learn in a first economics course, taking as our exemplar Paul Samuelson's paradigm-setting 1948 text. In the shadow of the Great Depression, Samuelson made Keynesian economics an essential component of what...

Reflections of a Textbook Author

By N. Gregory Mankiw

Journal of Economic Literature, March 2020

In this essay, I reflect on textbook writing after three decades of participating in the activity. I address the following questions: What perspective should textbooks take? What is the best approach to teaching microeconomics? What is the best approach t...

Sins of Omission and the Practice of Economics

By George A. Akerlof

Journal of Economic Literature, June 2020

This paper advances the proposition that economics, as a discipline, gives rewards that favor the "hard" and disfavor the "soft." Such bias leads economic research to ignore important topics and problems that are difficult to approach in a "hard" way—th...

Publishing and Promotion in Economics: The Tyranny of the Top Five

By James J. Heckman and Sidharth Moktan

Journal of Economic Literature, June 2020

This paper examines the relationship between placement of publications in top five (T5) journals and receipt of tenure in academic economics departments. Analyzing the job histories of tenure-track economists hired by the top 35 US economics departments, ...

Epidemics, Inequality, and Poverty in Preindustrial and Early Industrial Times

By Guido Alfani

Journal of Economic Literature, March 2022

Recent research has explored the distributive consequences of major historical epidemics, and the current crisis triggered by COVID-19 prompts us to look at the past for insights about how pandemics can affect inequalities in income, wealth, and health....

The 1918 Influenza Pandemic and Its Lessons for COVID-19

By Brian Beach, Karen Clay, and Martin Saavedra

Journal of Economic Literature, March 2022

This article reviews the global health and economic consequences of the 1918 influenza pandemic, with a particular focus on topics that have seen a renewed interest because of COVID-19. We begin by providing an overview of key contextual and epidemiologic...

Modern Infectious Diseases: Macroeconomic Impacts and Policy Responses

By David E. Bloom, Michael Kuhn, and Klaus Prettner

Journal of Economic Literature, March 2022

We discuss and review literature on the macroeconomic effects of epidemics and pandemics since the late twentieth century. First, we cover the role of health in driving economic growth and well-being and discuss standard frameworks for assessing the eco...

The Economic Impact of the Black Death

By Remi Jedwab, Noel D. Johnson, and Mark Koyama

Journal of Economic Literature, March 2022

The Black Death was the largest demographic shock in European history. We review the evidence for the origins, spread, and mortality of the disease. We document that it was a plausibly exogenous shock to the European economy and trace out its aggregate ...

Symposium: Race and Economic Literature—Introduction

By Trevon D. Logan and Samuel L. Myers Jr.

Journal of Economic Literature, June 2022

Stratification Economics: Core Constructs and Policy Implications

By Grieve Chelwa, Darrick Hamilton, and James Stewart

Journal of Economic Literature, June 2022

This article introduces the core constructs of stratification economics to provide a coherent explanation for the persistence of intergroup inequalities. Aligned with the critical race theory concept of "the property rights in Whiteness," stratification e...

Position and Possessions: Stratification Economics and Intergroup Inequality

By William A. Darity Jr.

Journal of Economic Literature, June 2022

This article provides an overview of the origins and development of stratification economics as a subfield that centers the importance of identity, social ranking, and relative group position. Stratification economics developed in response to explanations...

A Nation of Laws, and Race Laws

By Nina Banks and Warren C. Whatley

Journal of Economic Literature, June 2022

This article reviews the history of race laws in the United States as distinct from the rule of law, an idea found in the writing and speeches of Sadie Tanner Mossell Alexander, the first African American PhD in economics (1921). We review the race laws o...

Black Economists on Race and Policy: Contributions to Education, Poverty and Mobility, and Public Finance

By Dania V. Francis, Bradley L. Hardy, and Damon Jones

Journal of Economic Literature, June 2022

We explore the contributions of Black economists to research on major economic and social policy problems in the United States. We focus on applications in education, poverty and economic mobility, and public finance to extract common themes and patterns....

Racial Isolation and Marginalization of Economic Research on Race and Crime

By Patrick L. Mason, Samuel L. Myers Jr., and Margaret Simms

Journal of Economic Literature, June 2022

This essay examines the extent to which research on the economics of race and crime produced by Black economists or published in the flagship journal of the organization of Black economists, the Review of Black Political Economy (RBPE), is unde...

Reconceptualizing the path to universal health insurance

[Research Highlight]

June 07, 2023

Mark Shepard discusses the limitations of a “market failures” approach to achieving universal health insurance coverage in the United States.

Fiscal and Monetary Policy Interactions in a Model with Low Interest Rates

By Jianjun Miao and Dongling Su

American Economic Journal: Macroeconomics

We provide a new Keynesian model where entrepreneurs face uninsurable idiosyncratic investment risk and credit constraints. Government bonds provide liquidity services. Multiple steady states with positive values of public debt can be supported for a ...

CTREE Conference 2023

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May 31–June 2, 2023 | Portland, OR

JEL Classification System

Journal of Economic Literature, March 2002

Successfully Navigating Your PhD:

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