American Economic Review

1969 - 2025

Current editor(s): Esther Duflo

From American Economic Association
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Volume 92, issue 5, 2002

Bones, Bombs, and Break Points: The Geography of Economic Activity pp. 1269-1289

Donald Davis and David Weinstein

Knowledge Spillovers and Inequality pp. 1290-1307

Jan Eeckhout and Boyan Jovanovic

Economic Status and Health in Childhood: The Origins of the Gradient pp. 1308-1334

Anne Case, Darren Lubotsky and Christina Paxson

Property Rights and Finance pp. 1335-1356

Simon Johnson, John McMillan and Christopher Woodruff

Airport Congestion When Carriers Have Market Power pp. 1357-1375

Jan Brueckner

Measuring Market Inefficiencies in California's Restructured Wholesale Electricity Market pp. 1376-1405

Severin Borenstein, James Bushnell and Frank A. Wolak

Transport Costs and the Geography of Arbitrage in Eighteenth-Century China pp. 1406-1419

Carol Shiue

Hazards of Expropriation: Tenure Insecurity and Investment in Rural China pp. 1420-1447

Hanan Jacoby, Guo Li and Scott Rozelle

Two-Class Voting: A Mechanism for Conflict Resolution pp. 1448-1471

Ernst Maug and Bilge Yilmaz

Racial Profiling, Fairness, and Effectiveness of Policing pp. 1472-1497

Nicola Persico

Learning-by-Doing as a Propagation Mechanism pp. 1498-1520

Yongsung Chang, João Gomes and Frank Schorfheide

Social Value of Public Information pp. 1521-1534

Stephen Morris and Hyun Song Shin

Vouchers for Private Schooling in Colombia: Evidence from a Randomized Natural Experiment pp. 1535-1558

Joshua Angrist, Eric Bettinger, Erik Bloom, Elizabeth King and Michael Kremer

Information Technology and the U.S. Productivity Revival: What Do the Industry Data Say? pp. 1559-1576

Kevin Stiroh

Choosing Wisely: A Multibidding Approach pp. 1577-1587

David Perez-Castrillo and David Wettstein

Effects of Environmental and Land Use Regulation in the Oil and Gas Industry Using the Wyoming Checkerboard as an Experimental Design pp. 1588-1593

Mitch Kunce, Shelby Gerking and William Morgan

Winning Isn't Everything: Corruption in Sumo Wrestling pp. 1594-1605

Mark Duggan and Steven Levitt

Estimating Individual Discount Rates in Denmark: A Field Experiment pp. 1606-1617

Glenn Harrison, Morten Lau and Melonie B. Williams

The Halloween Indicator, "Sell in May and Go Away": Another Puzzle pp. 1618-1635

Sven Bouman and Ben Jacobsen

Preference Reversals of a Different Kind: The "More Is Less" Phenomenon pp. 1636-1643

John List

Risk Aversion and Incentive Effects pp. 1644-1655

Charles Holt and Susan Laury

Art as an Investment and the Underperformance of Masterpieces pp. 1656-1668

Jianping Mei and Michael Moses

Improving Efficiency of On-Campus Housing: An Experimental Study pp. 1669-1686

Yan Chen and Tayfun Sönmez

One, Two, (Three), Infinity,...: Newspaper and Lab Beauty-Contest Experiments pp. 1687-1701

Antoni Bosch-Domènech, José G. Montalvo, Rosemarie Nagel and Albert Satorra

Protection for Sale: An Empirical Investigation: Comment pp. 1702-1710

Theo Eicher and Thomas Osang

Optimal Incentives for Teams: Comment pp. 1711-1711

Shingo Ishiguro

Volume 92, issue 4, 2002

Inequality Among World Citizens: 1820-1992 pp. 727-744

François Bourguignon and Christian Morrisson

The Returns to Entrepreneurial Investment: A Private Equity Premium Puzzle? pp. 745-778

Tobias J. Moskowitz and Annette Vissing-Jorgensen

Managing Dynamic Competition pp. 779-797

Tracy Lewis and Huseyin Yildirim

Rigidity, Discretion, and the Costs of Writing Contracts pp. 798-817

Pierpaolo Battigalli and Giovanni Maggi

Contractual Structure and Wealth Accumulation pp. 818-849

Dilip Mookherjee and Debraj Ray

Monitoring, Motivation, and Management: The Determinants of Opportunistic Behavior in a Field Experiment pp. 850-873

Daniel S. Nagin, James Rebitzer, Seth Sanders and Lowell Taylor

Rating Banks: Risk and Uncertainty in an Opaque Industry pp. 874-888

Donald Morgan

How Regional Blocs Affect Excluded Countries: The Price Effects of MERCOSUR pp. 889-904

Won Chang and L. Winters

Testing Intertemporal Substitution, Implicit Contracts, and Hours Restriction Models of the Labor Market Using Micro Data pp. 905-927

John Ham and Kevin Reilly

Targeting Nominal Income Growth or Inflation? pp. 928-956

Henrik Jensen

Did the Elimination of Mandatory Retirement Affect Faculty Retirement? pp. 957-980

Orley Ashenfelter and David Card

Geography of the Family pp. 981-998

Kai Konrad, Harald Künemund, Kjell Lommerud and Julio Robledo

Longer-Term Effects of Head Start pp. 999-1012

Eliana Garces, Duncan Thomas and Janet Currie

Dynamic Inconsistencies: Counterfactual Implications of a Class of Rational-Expectations Models pp. 1013-1028

Arturo Estrella and Jeffrey Fuhrer

Terror as a Bargaining Instrument: A Case Study of Dowry Violence in Rural India pp. 1029-1043

Francis Bloch and Vijayendra Rao

Antidumping Investigations and the Pass-Through of Antidumping Duties and Exchange Rates pp. 1044-1061

Bruce Blonigen and Stephen E. Haynes

Revisiting Kindness and Confusion in Public Goods Experiments pp. 1062-1069

Daniel Houser and Robert Kurzban

Implementing the Efficient Allocation of Pollution pp. 1070-1078

John Duggan and Joanne Roberts

The Gains From Self-Ownership and the Expansion of Women's Rights pp. 1079-1092

Rick Geddes and Dean Lueck

Last-Minute Bidding and the Rules for Ending Second-Price Auctions: Evidence from eBay and Amazon Auctions on the Internet pp. 1093-1103

Alvin Roth and Axel Ockenfels

The Risk Premium for Equity: Implications for the Proposed Diversification of the Social Security Fund pp. 1104-1115

Simon Grant and John Quiggin

A New Measure of Horizontal Equity pp. 1116-1125

Alan Auerbach and Kevin Hassett

Do Corrupt Governments Receive Less Foreign Aid? pp. 1126-1137

Alberto Alesina and Beatrice Weder di Mauro

Testing Mixed-Strategy Equilibria When Players Are Heterogeneous: The Case of Penalty Kicks in Soccer pp. 1138-1151

Pierre Chiappori

International Spillovers and Water Quality in Rivers: Do Countries Free Ride? pp. 1152-1159

Hilary Sigman

Reservation Wages: An Analysis of the Effects of Reservations on Employment of American Indian Men pp. 1160-1168

Patricia B. Reagan

R&D Cooperation and Spillovers: Some Empirical Evidence from Belgium pp. 1169-1184

Bruno Cassiman and Reinhilde Veugelers

Savings and Portfolio Choice in a Two-Period Two-Asset Model pp. 1185-1191

Saku Aura, Peter Diamond and John Geanakoplos

Education, Social Cohesion, and Economic Growth pp. 1192-1204

Mark Gradstein and Moshe Justman

Malthus to Solow pp. 1205-1217

Gary Hansen and Edward Prescott

Hardnose the Dictator pp. 1218-1221

Todd Cherry, Peter Frykblom and Jason Shogren

Competitive Pressure and Labor Productivity: World Iron-Ore Markets in the 1980's pp. 1222-1235

Jose Galdon-Sanchez and James Schmitz

Using Electoral Cycles in Police Hiring to Estimate the Effect of Police on Crime: Comment pp. 1236-1243

Justin McCrary

Using Electoral Cycles in Police Hiring to Estimate the Effects of Police on Crime: Reply pp. 1244-1250

Steven Levitt

Losing Sleep at the Market: Comment pp. 1251-1256

J. Michael Pinegar

Losing Sleep at the Market: The Daylight Saving Anomaly: Reply pp. 1257-1263

Mark Kamstra, Lisa Kramer and Maurice Levi

The Swing Voter's Curse: Comment pp. 1264-1268

Mark Fey and Jaehoon Kim

Volume 92, issue 3, 2002

Behavioral Macroeconomics and Macroeconomic Behavior pp. 411-433

George Akerlof

Signaling in Retrospect and the Informational Structure of Markets pp. 434-459

A. Spence

Information and the Change in the Paradigm in Economics pp. 460-501

Joseph Stiglitz

What Explains the Industrial Revolution in East Asia? Evidence From the Factor Markets pp. 502-526

Chang-Tai Hsieh

Technological Change, Technological Catch-up, and Capital Deepening: Relative Contributions to Growth and Convergence pp. 527-548

Subodh Kumar and R. Robert Russell

An Experimental Test of an Optimal Growth Model pp. 549-570

Vivian Lei and Charles Noussair

Fiscal Policy, Profits, and Investment pp. 571-589

Alberto Alesina, Silvia Ardagna, Roberto Perotti and Fabio Schiantarelli

Tax Reform and Automatic Stabilization pp. 590-612

Thomas Kniesner and James Ziliak

Can Expected Utility Theory Explain Gambling? pp. 613-624

Roger Hartley and Lisa Farrell

Efficiency in Auctions with Private and Common Values: An Experimental Study pp. 625-643

Theo Offerman

Reputation and Competition pp. 644-663

Johannes Hörner

Troubled Banks, Impaired Foreign Direct Investment: The Role of Relative Access to Credit pp. 664-682

Michael Klein, Joe Peek and Eric Rosengren

Litigation Costs and Returns to Experience pp. 683-705

Paul Oyer and Scott Schaefer

The Household Bankruptcy Decision pp. 706-718

Scott Fay, Erik Hurst and Michelle J. White

Volume 92, issue 2, 2002

Editors' Introduction pp. vii-vii

Robert Lucas

Foreword pp. viii-viii

Robert Lucas

Prosperity and Depression pp. 1-15

Edward Prescott

Policy-Driven Productivity in Chile and Mexico in the 1980's and 1990's pp. 16-21

Raphael Bergoeing, Patrick Kehoe, Timothy Kehoe and Raimundo Soto

Accounting for the Great Depression pp. 22-27

Patrick Kehoe and Ellen McGrattan

The U.S. and U.K. Great Depressions Through the Lens of Neoclassical Growth Theory pp. 28-32

Harold Cole and Lee Ohanian

A Dual Liquidity Model for Emerging Markets pp. 33-37

Ricardo Caballero and Arvind Krishnamurthy

Bank Bailouts and Aggregate Liquidity pp. 38-41

Douglas Diamond and Raghuram Rajan

Domestic and International Supply of Liquidity pp. 42-45

Bengt Holmstrom and Jean Tirole

Balance-Sheet Contagion pp. 46-50

Nobuhiro Kiyotaki and John Moore

Payment Arrangements and Inflation pp. 51-57

Edward Green

Money: What's the Question and Why Should We Care About the Answer? pp. 58-61

Narayana Kocherlakota

Evil Is the Root of All Money pp. 62-66

Nobuhiro Kiyotaki and John Moore

Matching and Money pp. 67-71

P. Dean Corbae, Ted Loch Temzelides and Randall Wright

Chaotic Interest-Rate Rules pp. 72-78

Jess Benhabib, Stephanie Schmitt-Grohe and Martín Uribe

Taylor Rules in a Model that Satisfies the Natural-Rate Hypothesis pp. 79-84

Charles Carlstrom and Timothy Fuerst

The Choice of an Inflation Target Range in a Small Open Economy pp. 85-89

Christopher Erceg

The Fed and Interest Rates - A High-Frequency Identification pp. 90-95

Monika Piazzesi

The Natural Rate of Q pp. 96-101

Bill Dupor

Inflation-Targeting, Exchange-Rate Pass-Through, and Volatility pp. 102-107

Maurice Obstfeld

The Fed and the New Economy pp. 108-114

Laurence Ball and Robert R. Tchaidze

Monetary-Policy Rules and the Great Inflation pp. 115-120

Athanasios Orphanides

A Rehabilitation of Monetary Policy in the 1950's pp. 121-127

Christina Romer and David Romer

Monetary Policy, Banking Crises, and the Friedman Rule pp. 128-134

Bruce Smith

Excess Asset Returns with Limited Enforcement pp. 135-140

Costas Azariadis and Luisa Lambertini

Self-Insurance, Social Insurance, and the Optimum Quantity of Money pp. 141-147

Chris Edmond

The U.S. Technology Frontier pp. 148-152

Francesco Caselli and Wilbur Coleman

The U.S. Demographic Transition pp. 153-159

Jeremy Greenwood and Ananth Seshadri

The Role of Agriculture in Development pp. 160-164

Douglas Gollin, Stephen Parente and Richard Rogerson

Interpreting the Tariff–Growth Correlation of the Late 19th Century pp. 165-169

Douglas Irwin

The Mystery of the Excess Trade (Balances) pp. 170-174

Donald Davis and David Weinstein

Cost of Protection: Where Do We Stand? pp. 175-179

Arvind Panagariya

Trade and Poverty in the Poor Countries pp. 180-183

Jagdish Bhagwati

Firm and Product Life Cycles and Firm Survival pp. 184-190

Rajshree Agarwal and Michael Gort

The Decline of Cities and Inequality pp. 191-197

Mehmet Yorukoglu

The Q-Theory of Mergers pp. 198-204

Boyan Jovanovic and Peter Rousseau

The Economics of Copyright "Fair Use" in a Networked World pp. 205-208

Benjamin Klein, Andres V. Lerner and Kevin Murphy

The Case Against Intellectual Property pp. 209-212

Michele Boldrin and David Levine

When Should We Use Intellectual Property Rights? pp. 213-216

Paul Romer

On the Supply of Creative Work: Evidence from the Movies pp. 217-220

Kai-Lung Hui

150 Years of Patent Protection pp. 221-225

Josh Lerner

Accounting for Innovation and Measuring Innovativeness: An Illustrative Framework and an Application pp. 226-230

Jacques Mairesse and Pierre Mohnen

Technological Change, Entry, and Stock-Market Dynamics: An Analysis of Transition in a Monopolistic Industry pp. 231-235

Bipasa Datta and Huw Dixon

The Internet and International Trade in Services pp. 236-240

Caroline Freund and Diana Weinhold

Explaining Diversity: Symmetry-Breaking in Complementarity Games pp. 241-246

Kiminori Matsuyama

Spatial Agglomeration Dynamics pp. 247-252

Danny Quah

Is Equality Stable? pp. 253-259

Dilip Mookherjee and Debraj Ray

Inheritances and Wealth Inequality, 1989–1998 pp. 260-264

Edward Wolff

Simulating the Transmission of Wealth Inequality pp. 265-269

Jagadeesh Gokhale and Laurence Kotlikoff

Wealth Inequality and Altruistic Bequests pp. 270-273

John Laitner

The Importance of Bequests and Life-Cycle Saving in Capital Accumulation: A New Answer pp. 274-278

Karen E. Dynan, Jonathan Skinner and Stephen Zeldes

The Behavioral and Distributional Implications of Aid for College pp. 279-285

Susan Dynarski

Semiparametric Reduced-Form Estimation of Tuition Subsidies pp. 286-292

Hidehiko Ichimura and Christopher Taber

Financial Aid, Borrowing Constraints, and College Attendance: Evidence from Structural Estimates pp. 293-297

Michael Keane

A Multinomial-Choice Model of Neighborhood Effects pp. 298-303

William Brock and Steven Durlauf

Identifying Hedonic Models pp. 304-309

Ivar Ekeland, James Heckman and Lars Nesheim

On the Demographic Composition of Colleges and Universities in Market Equilibrium pp. 310-314

Dennis Epple, Richard Romano and Holger Sieg

Asymmetric Information in Community Banking and Its Relationship to Credit-Market Discrimination pp. 315-319

Christopher Henderson

A Dream Deferred or Realized: The Impact of Public Policy on Fostering Black Homeownership in New York City Throughout the 1990's pp. 320-324

Lance Freeman and Darrick Hamilton

Cooperatives and Wealth Accumulation: Preliminary Analysis pp. 325-329

Jessica Gordon Nembhard

Wealth: Asset-Accumulation Differences by Race–SCF Data, 1995 and 1998 pp. 330-334

Ronald L. Straight

A Foundation for Behavioral Economics pp. 335-338

Jessica L. Cohen and William T. Dickens

IQ and Income Inequality in a Sample of Sibling Pairs from Advantaged Family Backgrounds pp. 339-343

Charles Murray

The Nature and Nurture of Economic Outcomes pp. 344-348

Bruce Sacerdote

Wage Gains Associated with Height as a Form of Health Human Capital pp. 349-353

T. Schultz

The Motherhood Wage Penalty: Which Mothers Pay It and Why? pp. 354-358

Deborah J. Anderson, Melissa Binder and Kate Krause

Children and Household Income Packages: A Cross-National Analysis pp. 359-362

Erin Todd and Dennis Sullivan

Child Abuse and Abortion Availability pp. 363-367

Marianne Bitler and Madeline Zavodny

All in the Family: A Simultaneous Model of Parenting Style and Child Conduct pp. 368-372

Peter Burton, Shelley Phipps and Lori Curtis

Labor Supply at the Extensive and Intensive Margins: The EITC, Welfare, and Hours Worked pp. 373-379

Bruce Meyer

Welfare, Employment, and Income: Evidence on the Effects of Benefit Reductions from California pp. 380-384

V. Joseph Hotz, Charles H. Mullin and John Scholz

The Behavioral Effects of Welfare Time Limits pp. 385-389

Jeffrey Grogger

The Wage Gap and Public Support for Social Security pp. 390-395

Assaf Razin, Efraim Sadka and Phillip Swagel

Pension Reforms and the Opinions of European Citizens pp. 396-401

Tito Boeri, Axel Boersch-Supan and Guido Tabellini

Asset-Market Effects of the Baby Boom and Social-Security Reform pp. 402-406

Robin Brooks

Intergenerational Risk-Sharing via Social Security when Financial Markets Are Incomplete pp. 407-410

Dirk Krueger and Felix Kubler

Taxation of Financial Services under a VAT pp. 411-416

Alan Auerbach and Roger Gordon

Capital-Income Taxation with Imperfect Competition pp. 417-421

Kenneth Judd

Exchange-Traded Funds: A New Investment Option for Taxable Investors pp. 422-427

James Poterba and John B. Shoven

Modern Evidence on the Firm pp. 428-432

Scott Masten

Complexity, Flexibility, and the Make-or-Buy Decision pp. 433-437

Steven Tadelis

The Lens of Contract: Private Ordering pp. 438-443

Oliver Williamson

Can Web Courses Replace the Classroom in Principles of Microeconomics? pp. 444-448

Byron W. Brown and Carl Liedholm

Microeconomic Principles Teaching Tricks pp. 449-453

Daniel Hamermesh

Reconsidering Crucial Concepts in Micro Principles pp. 454-458

Karl Case

The Economic Naturalist: Teaching Introductory Students How to Speak Economics pp. 459-462

Robert Frank

Use It or Lose It: Teaching Literacy in the Economics Principles Course pp. 463-472

W. Lee Hansen, Michael K. Salemi and John Siegfried

Volume 92, issue 1, 2002

Markets and Diversity pp. 1-15

Sherwin Rosen

Racial Integration as an Innovation: Empirical Evidence from Sports Leagues pp. 16-26

Brian L. Goff, Robert McCormick and Robert Tollison

The Impact of Economic Conditions on Participation in Disability Programs: Evidence from the Coal Boom and Bust pp. 27-50

Dan Black, Kermit Daniel and Seth Sanders

Insuring Consumption Against Illness pp. 51-70

Paul Gertler and Jonathan Gruber

Endogenous Federal Grants and Crowd-out of State Government Spending: Theory and Evidence from the Federal Highway Aid Program pp. 71-92

Brian Knight

Increasing Returns and All That: A View from Trade pp. 93-119

Werner Antweiler and Daniel Trefler

Geographic Localization of International Technology Diffusion pp. 120-142

Wolfgang Keller

When Do Research Consortia Work Well and Why? Evidence from Japanese Panel Data pp. 143-159

Lee Branstetter and Mariko Sakakibara

Induced Innovation and Energy Prices pp. 160-180

David Popp

Plant-Level Irreversible Investment and Equilibrium Business Cycles pp. 181-197

Marcelo Veracierto

How Important Is Human Capital for Development? Evidence from Immigrant Earnings pp. 198-219

Lutz Hendricks

Sources of U.S. Economic Growth in a World of Ideas pp. 220-239

Charles Jones

Machiavellian Privatization pp. 240-258

Bruno Biais and Enrico Perotti

Journal Pricing and Mergers: A Portfolio Approach pp. 259-269

Mark J. McCabe

Do Women Pay More for New Vehicles? Evidence from Transaction Price Data pp. 270-279

David Harless and George Hoffer

Did Community Rating Induce an Adverse Selection Death Spiral? Evidence from New York, Pennsylvania, and Connecticut pp. 280-294

Thomas Buchmueller and John DiNardo

The Rise in Old-Age Longevity and the Market for Long-Term Care pp. 295-306

Darius Lakdawalla and Tomas Philipson

Public Schooling for Young Children and Maternal Labor Supply pp. 307-322

Jonah Gelbach

Does Increasing Women's Schooling Raise the Schooling of the Next Generation? pp. 323-334

Jere Behrman and Mark Rosenzweig

Intergenerational Income Mobility Among Daughters pp. 335-344

Laura Chadwick and Gary Solon

Owner-Occupied Housing and the Composition of the Household Portfolio pp. 345-362

Marjorie Flavin and Takashi Yamashita

Does Federalism Lead to Excessively High Taxes? pp. 363-370

Michael Keen and Christos Kotsogiannis

Charitable Giving, Income, and Taxes: An Analysis of Panel Data pp. 371-382

Gerald E. Auten, Holger Sieg and Charles Clotfelter

A Century of Missing Trade? pp. 383-393

Antoni Estevadeordal and Alan Taylor

The Case of the Missing Trade and Other Mysteries: Comment pp. 394-404

Patrick J. Conway

The Case of the Missing Trade and Other Mysteries: Reply pp. 405-410

Daniel Trefler