American Economic Review

1969 - 2025

Current editor(s): Esther Duflo

From American Economic Association
Contact information at EDIRC.
Bibliographic data for series maintained by Michael P. Albert ().

Access Statistics for this journal.
Is something missing from the series or not right? See the RePEc data check for the archive and series.

Volume 91, issue 5, 2001

The Stock Market and Capital Accumulation pp. 1185-1202

Robert Hall

The Information-Technology Revolution and the Stock Market: Evidence pp. 1203-1220

Bart Hobijn and Boyan Jovanovic

Is the Price Level Determined by the Needs of Fiscal Solvency? pp. 1221-1238

Matthew Canzoneri, Robert Cumby and Behzad Diba

Does Money Illusion Matter? pp. 1239-1262

Ernst Fehr and Jean-Robert Tyran

Financing Investment pp. 1263-1285

João Gomes

Financial Markets and Firm Dynamics pp. 1286-1310

Thomas Cooley and Vincenzo Quadrini

Competition in Loan Contracts pp. 1311-1328

Christine A. Parlour and Uday Rajan

Why Regulate Insider Trading? Evidence from the First Great Merger Wave (1897-1903) pp. 1329-1349

Ajeyo Banerjee and Edwin Eckard

Learning from Experience and Learning from Others: An Exploration of Learning and Spillovers in Wartime Shipbuilding pp. 1350-1368

Rebecca Achee Thornton and Peter Thompson

The Colonial Origins of Comparative Development: An Empirical Investigation pp. 1369-1401

Daron Acemoglu, Simon Johnson and James Robinson

Ten Little Treasures of Game Theory and Ten Intuitive Contradictions pp. 1402-1422

Jacob Goeree and Charles Holt

An Account of Global Factor Trade pp. 1423-1453

Donald Davis and David Weinstein

Nursery Cities: Urban Diversity, Process Innovation, and the Life Cycle of Products pp. 1454-1477

Gilles Duranton and Diego Puga

Conflicts and Common Interests in Committees pp. 1478-1497

Hao Li, Sherwin Rosen and Wing Suen

Do Explicit Warnings Eliminate the Hypothetical Bias in Elicitation Procedures? Evidence from Field Auctions for Sportscards pp. 1498-1507

John List

Information Cascades: Replication and an Extension to Majority Rule and Conformity-Rewarding Institutions pp. 1508-1520

Angela A. Hung and Charles Plott

Minimax Play at Wimbledon pp. 1521-1538

Mark Walker and John Wooders

GARP for Kids: On the Development of Rational Choice Behavior pp. 1539-1545

William Harbaugh, Kate Krause and Timothy R. Berry

A Test of Game-Theoretic and Behavioral Models of Play in Exchange and Insurance Environments pp. 1546-1555

Cary Deck

Reversing the Keynesian Asymmetry pp. 1556-1563

John Bennett and Manfredi M. A. La Manna

Iceland's Natural Experiment in Supply-Side Economics pp. 1564-1579

Marco Bianchi, Bjorn R. Gudmundsson and Gylfi Zoega

International Coordination of Trade and Domestic Policies pp. 1580-1593

Josh Ederington

Monetary Policy and Market Interest Rates pp. 1594-1607

Tore Ellingsen and Ulf Söderström

Output and Welfare Effects of Inflation with Costly Price and Quantity Adjustments pp. 1608-1620

Leif Danziger

Inflation Is Always and Everywhere a Monetary Phenomenon: Richmond vs. Houston in 1864 pp. 1621-1630

Richard Burdekin and Marc D. Weidenmier

Volume 91, issue 4, 2001

Rising U.S. Earnings Inequality and Family Labor Supply: The Covariance Structure of Intrafamily Earnings pp. 755-777

Dean Hyslop

Estimating the Effect of Unearned Income on Labor Earnings, Savings, and Consumption: Evidence from a Survey of Lottery Players pp. 778-794

Guido Imbens, Donald B. Rubin and Bruce Sacerdote

Schooling and Labor Market Consequences of School Construction in Indonesia: Evidence from an Unusual Policy Experiment pp. 795-813

Esther Duflo

The Division of Spoils: Rent-Sharing and Discrimination in a Regulated Industry pp. 814-831

Sandra Black and Philip E. Strahan

What Accounts for the Variation in Retirement Wealth among U.S. Households? pp. 832-857

B. Douglas Bernheim, Jonathan Skinner and Steven Weinberg

Increasing Returns versus National Product Differentiation as an Explanation for the Pattern of U.S.-Canada Trade pp. 858-876

Keith Head and John Ries

Is Free Trade Good for the Environment? pp. 877-908

Werner Antweiler, Brian Copeland and M. Scott Taylor

Telecommunications Infrastructure and Economic Development: A Simultaneous Approach pp. 909-923

Lars-Hendrik Roller and Leonard Waverman

Social Culture and Economic Performance pp. 924-937

Hanming Fang

A Theory of Political Transitions pp. 938-963

Daron Acemoglu and James Robinson

Monetary Policy Rules Based on Real-Time Data pp. 964-985

Athanasios Orphanides

Testing for the Lucas Critique: A Quantitative Investigation pp. 986-1005

Jesper Lindé

Quantifying Quality Growth pp. 1006-1030

Mark Bils and Pete Klenow

World Income Components: Measuring and Exploiting Risk-Sharing Opportunities pp. 1031-1054

Stefano G. Athanasoulis and Robert Shiller

The Declining Price Anomaly in Dutch Dutch Rose Auctions pp. 1055-1062

Gerard van den Berg, Jan van Ours and Menno Pradhan

Creating Modern Art: The Changing Careers of Painters in France from Impressionism to Cubism pp. 1063-1071

David Galenson and Bruce Weinberg

The Law of One Price in Scandinavian Duty-Free Stores pp. 1072-1083

Marcus Asplund and Richard Friberg

VAT Base Broadening, Self Supply, and the Informal Sector pp. 1084-1094

John Piggott and John Whalley

Estimating the Value of Political Connections pp. 1095-1102

Raymond Fisman

The Political Geography of Tax H(e)avens and Tax Hells pp. 1103-1115

Nico A. Hansen and Anke Kessler

Individual Risk in an Investment-Based Social Security System pp. 1116-1125

Martin Feldstein and Elena Ranguelova

Longevity Expectations and Death: Can People Predict Their Own Demise? pp. 1126-1134

V. Smith, Donald H. Taylor and Frank Sloan

Technological Change, Depletion, and the U.S. Petroleum Industry pp. 1135-1148

John Cuddington and Diana L. Moss

Intertemporal Depletion of Resource Sites by Spatially Distributed Users pp. 1149-1159

Gérard Gaudet, Michel Moreaux and Stephen Salant

Comparing Apples to Oranges: Productivity Convergence and Measurement across Industries and Countries: Comment pp. 1160-1167

Anders Sørensen

Comparing Apples to Oranges: Productivity Convergence and Measurement across Industries and Countries: Reply pp. 1168-1169

Andrew Bernard and Charles Jones

An Asset Allocation Puzzle: Comment pp. 1170-1179

Isabelle Bajeux-Besnainou, James V. Jordan and Roland Portait

Incorporating Fairness into Game Theory and Economics: Comment pp. 1180-1183

William Robert Nelson

Volume 91, issue 3, 2001

Economic Choices pp. 351-378

Daniel McFadden

Rules, Communication, and Collusion: Narrative Evidence from the Sugar Institute Case pp. 379-398

David Genesove and Wallace P. Mullin

Auctions with Resale Markets: An Application to U.S. Forest Service Timber Sales pp. 399-427

Philip Haile

Vertical Integration, Market Foreclosure, and Consumer Welfare in the Cable Television Industry pp. 428-453

Tasneem Chipty

Information Gatekeepers on the Internet and the Competitiveness of Homogeneous Product Markets pp. 454-474

Michael Baye and John Morgan

Costly Predation and the Distribution of Competence pp. 475-484

John Conlisk

A Theory of Buyer-Seller Networks pp. 485-508

Rachel Kranton and Deborah F. Minehart

The Value of Information in Efficient Risk-Sharing Arrangements pp. 509-524

Edward Schlee

Optimal Incentives for Teams pp. 525-541

Yeon-Koo Che and Seung-Weon Yoo

The Optimal Allocation of Prizes in Contests pp. 542-558

Benny Moldovanu and Aner Sela

Competition and Custom in Economic Contracts: A Case Study of Illinois Agriculture pp. 559-573

H. Young and Mary Burke

Simulating Fundamental Tax Reform in the United States pp. 574-595

David Altig

Is a Uniform Social Policy Better? Fiscal Federalism and Factor Mobility pp. 596-610

Roberto Perotti

Demand Systems with and without Errors pp. 611-618

Arthur Lewbel

Using Engel's Law to Estimate CPI Bias pp. 619-630

Bruce W. Hamilton

Does Buffer-Stock Saving Explain the Smoothness and Excess Sensitivity of Consumption? pp. 631-647

Sydney Ludvigson and Alexander Michaelides

Monetary Instability, the Predictability of Prices, and the Allocation of Investment: An Empirical Investigation Using U.K. Panel Data pp. 648-662

Paul Beaudry, Mustafa Caglayan and Fabio Schiantarelli

Business Fixed Investment and "Bubbles": The Japanese Case pp. 663-680

Bob Chirinko and Huntley Schaller

The Response of Expenditures to Anticipated Income Changes: Panel Data Estimates pp. 681-692

Martin Browning and M. Dolores Collado

Estimating the Knowledge-Capital Model of the Multinational Enterprise pp. 693-708

David L. Carr, James Markusen and Keith Maskus

Optimal Regional Redistribution under Asymmetric Information pp. 709-723

Massimo Bordignon, Paolo Manasse and Guido Tabellini

How Liable Should a Lender Be? The Case of Judgment-Proof Firms and Environmental Risk: Comment pp. 724-730

Tracy Lewis and David Sappington

How Liable Should a Lender Be? The Case of Judgment-Proof Firms and Environmental Risk: Comment pp. 731-738

Dieter Balkenborg

How Liable Should a Lender Be? The Case of Judgment-Proof Firms and Environmental Risk: Reply pp. 739-745

Rohan Pitchford

Volume 91, issue 2, 2001

Struggling to Understand the Stock Market pp. 1-11

Robert Hall

Human Capital and Growth pp. 12-17

Robert Barro

The Legacy of U.S. Educational Leadership: Notes on Distribution and Economic Growth in the 20th Century pp. 18-23

Lawrence Katz and Claudia Goldin

Black-White Achievement Differences and Governmental Interventions pp. 24-28

Eric Hanushek

Input Trade and the Location of Production pp. 29-33

Ronald Jones and Ronald Findlay

Why Did Productivity Fall So Much during the Great Depression? pp. 34-38

Lee Ohanian

Market Trade in Patents and the Rise of a Class of Specialized Inventors in the 19th-Century United States pp. 39-44

Kenneth Sokoloff and Naomi R. Lamoreaux

Sharing Ambiguity pp. 45-50

Larry Epstein

Pitfalls of a Minimax Approach to Model Uncertainty pp. 51-54

Christopher Sims

Minimax Estimation and Forecasting in a Stationary Autoregression Model pp. 55-59

Gary Chamberlain

Robust Control and Model Uncertainty pp. 60-66

Thomas Sargent and Lars Hansen

Do People Mean What They Say? Implications for Subjective Survey Data pp. 67-72

Sendhil Mullainathan and Marianne Bertrand

In Search of Homo Economicus: Behavioral Experiments in 15 Small-Scale Societies pp. 73-78

Joseph Henrich

Growing Up in the Projects: The Economic Lives of a Cohort of Men Who Came of Age in Chicago Public Housing pp. 79-84

Sudhir Alladi Venkatesh and Steven Levitt

Youth Smoking in the 1990's: Why Did It Rise and What Are the Long-Run Implications? pp. 85-90

Jonathan Gruber

Behavior Policies and Teen Traffic Safety pp. 91-96

William Evans and Thomas Dee

Going to College to Avoid the Draft: The Unintended Legacy of the Vietnam War pp. 97-102

Thomas Lemieux and David Card

Designing Programs for Heterogeneous Populations: The Value of Covariate Information pp. 103-106

Charles Manski

Policy-Relevant Treatment Effects pp. 107-111

Edward Vytlacil and James Heckman

Reconciling Conflicting Evidence on the Performance of Propensity-Score Matching Methods pp. 112-118

Petra Todd and Jeffrey Smith

Propensity-Score Matching with Instrumental Variables pp. 119-124

Christopher Taber and Hidehiko Ichimura

Interactions between Unmarried Fathers and Their Children: The Role of Paternity Establishment and Child-Support Policies pp. 125-129

Elizabeth Peters and Laura M. Argys

The Effect of Child-Support Policies on Visitations and Transfers pp. 130-134

Rocio Ribero and Daniela Del Boca

New Estimates of the Impact of Child Disability on Maternal Employment pp. 135-139

Elizabeth Powers

Signals of Child Achievement as Determinants of Child Support pp. 140-144

Alison Aughinbaugh

The Importance of Noncognitive Skills: Lessons from the GED Testing Program pp. 145-149

Yona Rubinstein and James Heckman

As Ye Sweep, So Shall Ye Reap pp. 150-154

Greg Duncan, Rachel Dunifon and Jeanne Brooks-Gunn

Incentive-Enhancing Preferences: Personality, Behavior, and Earnings pp. 155-158

Herbert Gintis, Samuel Bowles and Melissa Osborne Groves

Understanding, Speaking, Reading, Writing, and Earnings in the Immigrant Labor Market pp. 159-163

Richard A. Fry, Anthony P. Carnevale and B. Lindsay Lowell

Black-White Earnings Differentials: Privatization versus Deregulation pp. 164-168

Wayne K. Talley and James Peoples

Market Structure and Racial Earnings: Evidence from Job-Changers pp. 169-173

Richard U. Agesa, Jacqueline Agesa and Gary Hoover

Racial Differences in Transportation Access to Employment in Chicago and Los Angeles, 1980 and 1990 pp. 174-177

Samuel L. Myers, Chanjin Chung and Lisa Saunders

Annual Income and Identity Formation among Persons of Mexican Descent pp. 178-183

Patrick Mason

Assessing the Property Rights and Transaction-Cost Theories of Firm Scope pp. 184-188

Michael Whinston

Empirical Strategies in Contract Economics: Information and the Boundary of the Firm pp. 189-194

George Baker and Thomas N. Hubbard

Do Firm Boundaries Matter? pp. 195-199

Sendhil Mullainathan and David Scharfstein

Organizational Design: Decision Rights and Incentive Contracts pp. 200-205

Susan Athey and John Roberts

The Influence of the Financial Revolution on the Nature of Firms pp. 206-211

Raghuram Rajan and Luigi Zingales

Bringing the Market inside the Firm? pp. 212-218

George Baker, Robert Gibbons and Kevin Murphy

Interest Rates and Inflation pp. 219-225

Fernando Alvarez, Robert Lucas and Warren Weber

NAIRU Uncertainty and Nonlinear Policy Rules pp. 226-231

Laurence H. Meyer, Eric Swanson and Volker Wieland

The Taylor Rule and Optimal Monetary Policy pp. 232-237

Michael Woodford

Fewer Monies, Better Monies pp. 238-242

Rüdiger Dornbusch

Why Not a Global Currency? pp. 243-247

Kenneth Rogoff

Optimal Monetary Policy in Open versus Closed Economies: An Integrated Approach pp. 248-252

Richard Clarida, Jordi Galí and Mark Gertler

Should Central Banks Respond to Movements in Asset Prices? pp. 253-257

Ben Bernanke and Mark Gertler

Should Monetary Policy Respond Strongly to Output Gaps? pp. 258-262

Bennett McCallum

The Role of the Exchange Rate in Monetary-Policy Rules pp. 263-267

John Taylor

Price and Quality of Desktop and Mobile Personal Computers: A Quarter-Century Historical Overview pp. 268-273

Ernst R. Berndt and Neal J. Rappaport

The Acceleration of Variety Growth pp. 274-280

Mark Bils and Pete Klenow

Productivity Change in Health Care pp. 281-286

David Cutler and Mark McClellan

Internet Peering pp. 287-291

Jean-Jacques Laffont

Advances in Routing Technologies and Internet Peering Agreements pp. 292-296

Stanley Besen

Access Pricing, Bypass, and Universal Service pp. 297-301

Mark Armstrong

Cable Modems and DSL: Broadband Internet Access for Residential Customers pp. 302-307

Jerry Hausman, J. Gregory Sidak and HalJ. Singer

Do We Have a New E-conomy? pp. 308-312

MartinNeil Baily and Robert Lawrence

Projecting the Economic Impact of the Internet pp. 313-317

Robert Litan and Alice Rivlin

E-Commerce: Measurement and Measurement Issues pp. 318-322

Barbara M. Fraumeni

Schooling Data, Technological Diffusion, and the Neoclassical Model pp. 323-327

Angel de La Fuente and Rafael Domenech

Cross-Country Technology Diffusion: The Case of Computers pp. 328-335

Francesco Caselli and Wilbur Coleman

Why Wait? A Century of Life before IPO pp. 336-341

Boyan Jovanovic and Peter Rousseau

Appeasement: Can It Work? pp. 342-346

Jack Hirshleifer

The Creation of Effective Property Rights pp. 347-352

Herschel Grossman

Guns, Butter, and Openness: On the Relationship between Security and Trade pp. 353-357

Stergios Skaperdas and Constantinos Syropoulos

Commercial Policy in a "Fragmented" World pp. 358-362

Eric Bond

The Role of International Fragmentation in the Development Process pp. 363-366

Ronald Jones and Sugata Marjit

Trade and Exposure pp. 367-370

Kathryn Dominguez and Linda Tesar

International Trade and Business Cycles: Is Vertical Specialization the Missing Link? pp. 371-375

Ayhan Kose and Kei-Mu Yi

Coping with Terms-of-Trade Shocks: Pegs versus Floats pp. 376-380

Christian Broda

Dollarization pp. 381-385

Alberto Alesina and Robert Barro

National Money as a Barrier to International Trade: The Real Case for Currency Union pp. 386-390

Andrew Rose and Eric van Wincoop

Exchange-Rate Hedging: Financial versus Operational Strategies pp. 391-395

George Allayannis, Jane Ihrig and James P. Weston

A Reexamination of Exchange-Rate Exposure pp. 396-399

Kathryn Dominguez and Linda Tesar

Gender Differences in the Labor-Market Effects of the Dollar pp. 400-405

Linda Goldberg and Joseph Tracy

The Empirical Importance of Precautionary Saving pp. 406-412

Pierre-Olivier Gourinchas and Jonathan Parker

How Important Are Idiosyncratic Shocks? Evidence from Labor Supply pp. 413-417

Kjetil Storesletten, Chris Telmer and Amir Yaron

Interest Elasticity in a Life-Cycle Model with Precautionary Savings pp. 418-421

Marco Cagetti

Banks and Liquidity pp. 422-425

Douglas Diamond and Raghuram Rajan

Venture Capitals As Principals: Contracting, Screening, and Monitoring pp. 426-430

Steven Kaplan and Per Stromberg

A Reason for Quantity Regulation pp. 431-435

Edward Glaeser and Andrei Shleifer

Financial Intermediation without Exclusivity pp. 436-439

Tano Santos and Jose Scheinkman

Research in Economic Education: Five New Initiatives pp. 440-445

Michael K. Salemi

Teaching Economics at the Start of the 21st Century: Still Chalk-and-Talk pp. 446-451

William Becker and Michael Watts

Assessing the Economic Understanding of U.S. High School Students pp. 452-457

William B. Walstad and Ken Rebeck

Minutes of the Annual Meeting pp. 461-462

John Siegfried

Minutes of the Executive Committee Meetings pp. 462-471

John Siegfried

Report of the Secretary for 2000 pp. 472-474

John Siegfried

Report of the Treasurer for the Year Ending December 31, 2000 pp. 475-475

John Siegfried

Report of the Finance Committee pp. 476-476

John Siegfried

Report of the Editor: American Economic Review pp. 477-485

Orley Ashenfelter

Report of the Editor: Journal of Economic Literature pp. 486-488

John McMillan

Report of the Editor: Journal of Economic Perspectives pp. 489-491

Alan Krueger

Report of the Director: Job Openings for Economists pp. 492-494

John Siegfried

Report of the Committee on Economic Education pp. 495-496

William B. Walstad

Report of the Committee on the Status of Minority Groups in the Economics Profession pp. 497-501

William Darity and Cecilia A. Conrad

Report of the Committee on the Status of Women in the Economics Profession pp. 502-507

Beth Allen

Report of the Search Committee for the Editor of the AER pp. 508-508

John Taylor

American Economic Association Universal Academic Questionnaire Summary Statistics pp. 509-511

Charles E. Scott and John Siegfried

Volume 91, issue 1, 2001

Information Technology and the U.S. Economy pp. 1-32

Dale Jorgenson

The Personal Discount Rate: Evidence from Military Downsizing Programs pp. 33-53

Saul Pleeter and John Warner

Dividends and Expropriation pp. 54-78

Larry Lang, Mara Faccio and Leslie Young

Naive Diversification Strategies in Defined Contribution Saving Plans pp. 79-98

Richard Thaler and Shlomo Benartzi

Who Should Buy Long-Term Bonds? pp. 99-127

Luis Viceira and John Campbell

The Effects of Investing Social Security Funds in the Stock Market When Fixed Costs Prevent Some Households from Holding Stocks pp. 128-148

Andrew Abel

Habit Persistence, Asset Returns, and the Business Cycle pp. 149-166

Lawrence Christiano, Michele Boldrin and Jonas Fisher

Monetary Policy and Multiple Equilibria pp. 167-186

Stephanie Schmitt-Grohe, Jess Benhabib and Martín Uribe

What Hides Behind an Unemployment Rate: Comparing Portuguese and U.S. Labor Markets pp. 187-207

Pedro Portugal and Olivier Blanchard

Local Discouragement and Global Collapse: A Theory of Coordination Avalanches pp. 208-224

Curtis Taylor and Thomas Jeitschko

The Provision of Public Goods under Alternative Electoral Incentives pp. 225-239

Nicola Persico and Alessandro Lizzeri

Proofs and Prototypes for Sale: The Licensing of University Inventions pp. 240-259

Marie Thursby and Richard Jensen

Gamma Discounting pp. 260-271

Martin Weitzman

Race, Roosevelt, and Wartime Production: Fair Employment in World War II Labor Markets pp. 272-286

William Collins

Tallest in the World: Native Americans of the Great Plains in the Nineteenth Century pp. 287-294

Joseph M. Prince and Richard Steckel

The Market Evaluation of Criminality: Evidence from the Auction of British Convict Labor in America, 1767-1775 pp. 295-304

Farley Grubb

Household Debt and the Tax Reform Act of 1986 pp. 305-319

Dean M. Maki

State-Owned and Privately Owned Firms: An Empirical Analysis of Profitability, Leverage, and Labor Intensity pp. 320-334

Paul Malatesta and Kathryn Dewenter

Preferences over Inflation and Unemployment: Evidence from Surveys of Happiness pp. 335-341

Robert MacCulloch, Rafael Di Tella and Andrew Oswald

Firm-Specific Human Capital as a Shared Investment: Comment pp. 342-347

Hessel Oosterbeek and Edwin Leuven

Firm-Specific Human Capital as a Shared Investment: Reply pp. 348-349

Masanori Hashimoto