The Cross Section of Foreign Currency Risk Premia and Consumption Growth Risk: Comment

By Craig Burnside

American Economic Review, December 2011

Lustig and Verdelhan (2007) argue that the excess returns to borrowing US dollars and lending in foreign currency "compensate US investors for taking on more US consumption growth risk," yet the stochastic discount factor corresponding to their benchmark ...

How Special Is the Special Relationship? Using the Impact of U.S. R&D Spillovers on U.K. Firms as a Test of Technology Sourcing

By Rachel Griffith, Rupert Harrison, and John Van Reenen

American Economic Review, December 2006

We examine the "technology sourcing" hypothesis that foreign research labs located in the U.S. tap into U.S. R&D spillovers and improve home country productivity. We show that U.K. firms that established a high proportion of inventors based in the U.S. by...

Can Tax Rebates Stimulate Consumption Spending in a Life-Cycle Model?

By Jonathan Huntley and Valentina Michelangeli

American Economic Journal: Macroeconomics, January 2014

We build a life-cycle model with earnings risk, liquidity constraints, and portfolio choice over tax-deferred and taxable assets to evaluate how household consumption changes in response to shocks to transitory anticipated income, such as the 2001 inco...

Annotated Listing of New Books

Journal of Economic Literature, December 2015

Policy Gambles

By Sumon Majumdar and Sharun W. Mukand

American Economic Review, September 2004

The New Institutional Economics: Taking Stock, Looking Ahead

By Oliver E. Williamson

Journal of Economic Literature, September 2000

This paper examines the progressive development of the new institutional economics over the past quarter century. It begins by distinguishing four levels of social analysis, with special emphasis on the institutional environment and the institutions of go...

Wage Posting and Business Cycles

By Giuseppe Moscarini and Fabien Postel-Vinay

American Economic Review, May 2016

The canonical model of job search and wage posting (Burdett and Mortensen, 1998) establishes a natural connection between the average wage growth in the economy and the pace of Employer-to-Employer (EE) transitions, predicting wage growth to be positively...

Plants and Imported Inputs: New Facts and an Interpretation

By Maurice Kugler and Eric Verhoogen

American Economic Review, May 2009

JEL Classification System

Journal of Economic Literature, September 2002

Cross-Country Differences in Intergenerational Earnings Mobility

[Symposium: Intergenerational Mobility]

By Gary Solon

Journal of Economic Perspectives, Summer 2002

International studies of the extent to which economic status is passed from one generation to the next are important for at least two reasons. First, each study of a particular country characterizes an important feature of that country's income inequality...

Political Parties and Labor-Market Outcomes: Evidence from US States

By Louis-Philippe Beland

American Economic Journal: Applied Economics, October 2015

This paper estimates the causal impact of the party allegiance (Republican or Democratic) of US governors on labor-market outcomes. I match gubernatorial elections with March Current Population Survey (CPS) data for income years 1977 to 2008. Using a regr...

Natural Gas: From Shortages to Abundance in the United States

By Paul L. Joskow

American Economic Review, May 2013

The history of natural gas wellhead and pipeline regulation, deregulation and regulatory reforms are discussed. These reforms brought natural gas shortages and pipeline inefficiencies to an end. They also created an economic platform that could support un...

Empathy or Antipathy? The Impact of Diversity

By Johanne Boisjoly, Greg J. Duncan, Michael Kremer, Dan M. Levy, and Jacque Eccles

American Economic Review, December 2006

Mixing across racial and ethnic lines could spur understanding or inflame tensions between groups. We find that white students at a large state university randomly assigned African American roommates in their first year were more likely to endorse affirma...

Relative Goods' Prices, Pure Inflation, and the Phillips Correlation

By Ricardo Reis and Mark W. Watson

American Economic Journal: Macroeconomics, July 2010

This paper uses a dynamic factor model for the quarterly changes in consumption goods' prices in the United States since 1959 to separate them into three independent components: idiosyncratic relative-price changes, a low-dimensional index of aggregate re...

Does the Market Value CEO Styles?

By Antoinette Schoar and Luo Zuo

American Economic Review, May 2016

We study how investors perceive the skill set that different types of CEOs bring into their companies. We compare CEOs who started their careers during a recession with other CEOs. We show that the announcement return around the appointment of a recession...

ABCs (and Ds) of Understanding VARs

By Jesús Fernández-Villaverde, Juan F. Rubio-Ramírez, Thomas J. Sargent, and Mark W. Watson

American Economic Review, June 2007

The dynamics of a linear (or linearized) dynamic stochastic economic model can be expressed in terms of matrices (A, B, C, D) that define a state space system for a vector of observables. An associated state space system (A,ˆB,C,ˆD) determines a vector ...

The Importance of Being Marginal: Gender Differences in Generosity

By Stefano DellaVigna, John A. List, Ulrike Malmendier, and Gautam Rao

American Economic Review, May 2013

Do men and women have different social preferences? Previous findings are contradictory. We provide a potential explanation using evidence from a field experiment. In a door-to-door solicitation, men and women are equally generous, but women become less g...

Issuer Credit Quality and the Price of Asset Backed Securities

By Oliver Faltin-Traeger, Kathleen W. Johnson, and Christopher Mayer

American Economic Review, May 2010

Estimates of Annual Consumption Expenditures and Its Major Components in the PSID in Comparison to the CE

By Patricia Andreski, Geng Li, Mehmet Zahid Samancioglu, and Robert Schoeni

American Economic Review, May 2014

Comprehensive data on consumption expenditures have historically not been collected in US longitudinal household surveys. The Panel Study of Income Dynamics (PSID) expanded its expenditure data collection in 1999 and 2005. We examine these new expenditur...

Pricing and Welfare in Health Plan Choice

By M. Kate Bundorf, Jonathan Levin, and Neale Mahoney

American Economic Review, December 2012

Premiums in health insurance markets frequently do not reflect individual differences in costs, either because consumers have private information or because prices are not risk rated. This creates inefficiencies when consumers self-select into plans. We ...