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.
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Volume 88, issue 5, 1998
- The Value of Weather Information Services for Nineteenth-Century Great Lakes Shipping pp. 1059-76

- Erik D Craft
- The Rise and Fall of Bank Control in the United States: 1890-1939 pp. 1077-93

- Miguel Cantillo Simon
- Winners and Losers in Russia's Economic Transition pp. 1094-1116

- Elizabeth Brainerd
- Unemployment and the Social Safety Net during Transitions to a Market Economy: Evidence from the Czech and Slovak Republics pp. 1117-42

- John C Ham, Jan Svejnar and Katherine Terrell
- Federalism and the Soft Budget Constraint pp. 1143-62

- Yingyi Qian and Gérard Roland
- Interest-Group Competition and the Organization of Congress: Theory and Evidence from Financial Services' Political Action Committees pp. 1163-87

- Randall S Kroszner and Thomas Stratmann
- Toward an Economic Theory of Leadership: Leading by Example pp. 1188-1206

- Benjamin E Hermalin
- Ambiguity Aversion and Incompleteness of Contractual Form pp. 1207-31

- Sujoy Mukerji
- Anticompetitive Vertical Integration by a Dominant Firm pp. 1232-48

- Michael Riordan
- Patent Litigation as an Information-Transmission Mechanism pp. 1249-63

- Jay Choi
- The Home Market, Trade, and Industrial Structure pp. 1264-76

- Donald Davis
- Industrial Development and the Convergence Question pp. 1277-89

- Marvin Goodfriend and John McDermott
- Endogenous Growth without Scale Effects pp. 1290-1310

- Paul S Segerstrom
- The Matching Market Institution: A Laboratory Investigation pp. 1311-22

- Changhua Sun Rich and Daniel Friedman
- Experimental Evidence on the Evolution of Meaning of Messages in Sender-Receiver Games pp. 1323-40

- Blume, Andreas, et al
- Why Referees Are Not Paid (Enough) pp. 1341-49

- Maxim Engers and Joshua Gans
- The Deadweight Loss of Christmas: Comment pp. 1350-55

- John List and Jason Shogren
- The Deadweight Loss of Christmas: Reply pp. 1356-57

- Sara J Solnick and David Hemenway
- The Deadweight Loss of Christmas: Reply pp. 1358-59

- Joel Waldfogel
Volume 88, issue 4, 1998
- The Market for Sulfur Dioxide Emissions pp. 669-85

- Paul Joskow, Richard Schmalensee and Elizabeth M Bailey
- Valuing the Impact of Large-Scale Ecological Change in a Market: The Effect of Climate Change on U.S. Timber pp. 686-710

- Brent Sohngen and Robert Mendelsohn
- Layoffs, Top Executive Pay, and Firm Performance pp. 711-23

- Kevin F Hallock
- Multidimensional Uncertainty and Herd Behavior in Financial Markets pp. 724-48

- Christopher Avery and Peter Zemsky
- The Effect of Tax-Favored Retirement Accounts on Capital Accumulation pp. 749-68

- Ayse Imrohoroglu, Selahattin Imrohoroglu and Douglas H Joines
- Is There a Retirement-Savings Puzzle? pp. 769-88

- James Banks, Richard Blundell and Sarah Tanner
- Education-Finance Reform and the Distribution of Education Resources pp. 789-812

- Sheila E Murray, William Evans and Robert M Schwab
- Public Education and Income Distribution: A Dynamic Quantitative Evaluation of Education-Finance Reform pp. 813-33

- Raquel Fernandez and Richard Rogerson
- Games with Procedurally Rational Players pp. 834-47

- Martin Osborne and Ariel Rubinstein
- Predicting How People Play Games: Reinforcement Learning in Experimental Games with Unique, Mixed Strategy Equilibria pp. 848-81

- Ido Erev and Alvin Roth
- Noncooperative Bargaining, Hostages, and Optimal Asset Ownership pp. 882-901

- Y. Chiu
- Incomplete Contracts and Strategic Ambiguity pp. 902-32

- B. Douglas Bernheim and Michael Whinston
- Monty Hall's Three Doors: Construction and Deconstruction of a Choice Anomaly pp. 933-46

- Daniel Friedman
- Iterated Dominance and Iterated Best Response in Experimental "p-Beauty Contests." pp. 947-69

- Teck-Hua Ho, Colin Camerer and Keith Weigelt
- Do the Rich Get Richer and the Poor Poorer? Experimental Tests of a Model of Power pp. 970-83

- Yvonne Durham, Jack Hirshleifer and Vernon L Smith
- Gains from Trade and Strategic Interaction: Equilibrium Acid Rain Abatement in the Eastern United States and Canada pp. 984-1001

- Linda Bui
- Voting for Protection: Does Direct Foreign Investment Influence Legislator Behavior? pp. 1002-14

- Bruce Blonigen and David Figlio
- Change in U.S. Tariffs: The Role of Import Prices and Commercial Policies pp. 1015-26

- Douglas Irwin
- Ex Post Liability for Harm vs. Ex Ante Safety Regulation: Substitutes or Complements? Comment pp. 1027
- Christian Ewerhart and Patrick W Schmitz
Volume 88, issue 3, 1998
- Applications of Option-Pricing Theory: Twenty-Five Years Later pp. 323-49

- Robert Merton
- Derivatives in a Dynamic Environment pp. 350-70

- Myron S Scholes
- Unraveling in Matching Markets pp. 371-87

- Hao Li and Sherwin Rosen
- Motivation and Markets pp. 388-411

- W. Bentley Macleod and James Malcomson
- The Economics of Child Labor pp. 412-27
- Kaushik Basu and Van Pham
- A Theory of Holdouts in Wage Bargaining pp. 428-49
- Wulong Gu and Peter Kuhn
- Children and Their Parents' Labor Supply: Evidence from Exogenous Variation in Family Size pp. 450-77

- Joshua Angrist and William Evans
- Does European Unemployment Prop Up American Wages? National Labor Markets and Global Trade pp. 478-94

- Donald Davis
- Growth Cycles pp. 495-515

- George Evans, Seppo Honkapohja and Paul Romer
- Financial Intermediation and Regime Switching in Business Cycles pp. 516-36

- Costas Azariadis and Bruce Smith
- Stock Markets, Banks, and Economic Growth pp. 537-58

- Ross Levine and Sara Zervos
- Financial Dependence and Growth pp. 559-86

- Raghuram Rajan and Luigi Zingales
- Unique Equilibrium in a Model of Self-Fulfilling Currency Attacks pp. 587-97

- Stephen Morris and Hyun Song Shin
- Compensating Differentials for Gender-Specific Job Injury Risks pp. 598-627

- Joni Hersch
- Divorce-Law Changes, Household Bargaining, and Married Women's Labor Supply pp. 628-42

- Jeffrey S Gray
- Caps on Political Lobbying pp. 643-51

- Yeon-Koo Che and Ian L Gale
- Is There a Free-Rider Problem in Lobbying? Endogenous Tariffs, Trigger Strategies, and the Number of Firms pp. 652-60

- Paul Pecorino
Volume 88, issue 2, 1998
- Turnpikes pp. 1-14
- Lionel McKenzie
- Common Agency Contracting and the Emergence of "Open Science" Institutions pp. 15-21

- Paul David
- Revolution from Above: The Role of the State in Creating the German Research System, 1810-1910 pp. 22-27

- Timothy Lenoir
- Academic Science and Technology in the Service of Industry: MIT Creates a "Permeable" Engineering School pp. 28-33

- Chrisotphe Lecuyer
- Federal Government Initiatives and the Foundations of the Information Technology Revolution: Lessons from History pp. 34-39

- Marjory S Blumenthal
- Micro Rules and Macro Outcomes: The Impact of Micro Structure on the Efficiency of Security Exchanges, London, New York, and Paris, 1800-1914 pp. 40-45

- Lance Davis and Larry Neal
- The Peace Dividend in Historical Perspective pp. 46-50

- Hugh Rockoff
- Wages and Labor Markets before the Civil War pp. 51-56

- Robert Margo
- Representative Firm Analysis and the Character of Competition: Glimpses from the Great Depression pp. 57-61

- Daniel M G Raff
- Survival and Size Mobility among the World's Largest 100 Industrial Corporations, 1912-1995 pp. 62-65

- Leslie Hannah
- Partnerships, Corporations, and the Theory of the Firm pp. 66-71

- Naomi R Lamoreaux
- The New Institutional Economics pp. 72-74

- Ronald Coase
- The Institutions of Governance pp. 75-79

- Oliver Williamson
- Historical and Comparative Institutional Analysis pp. 80-84

- Avner Greif
- Norms and Networks in Economic and Organizational Performance pp. 85-89

- Victor Nee
- Technological Change in Heart-Disease Treatment: Does High Tech Mean Low Value? pp. 90-96

- Mark McClellan and Haruko Noguchi
- The Value of Health: 1970-1990 pp. 97-100

- David Cutler and Elizabeth Richardson
- Economic Effects of Reducing Disability pp. 101-05

- Kenneth G Manton, Eric Stallard and Larry Corder
- Measuring Prices and Quantities of Treatment for Depression pp. 106-11

- Richard G Frank, Susan H Busch and Ernst R Berndt
- Public Funds, Private Funds, and Medical Innovation: How Managed Care Affects Public Funds for Clinical Research pp. 112-16

- Judith K Hellerstein
- The Demand for Medical Care: What People Pay Does Matter pp. 117-21

- Matthew J Eichner
- Adverse Selection and Adverse Retention pp. 122-26

- Daniel Altman, David Cutler and Richard Zeckhauser
- Payment Heterogeneity, Physician Practice, and Access to Care pp. 127-31

- Sherry Glied
- What Has Increased Medical-Care Spending Bought? pp. 132-36

- David Cutler, Mark McClellan and Joseph Newhouse
- Social Security: Privatization and Progressivity pp. 137-41

- Laurence Kotlikoff, Kent A Smetters and Jan Walliser
- Perspectives on the Social Security Crisis and Proposed Solutions pp. 142-50

- Kevin Murphy and Finis Welch
- Social Security and the Real Economy: An Inquiry into Some Neglected Issues pp. 151-57

- Isaac Ehrlich and Jian-Guo Zhong
- Social Security and Retirement: An International Comparison pp. 158-63

- Jonathan Gruber and David Wise
- Social Security and Labor-Force Participation in the Netherlands pp. 164-67

- Arie Kapteyn and Klaas de Vos
- Pensions and Labor-Market Participation in the United Kingdom pp. 168-72

- Richard Blundell and Paul Johnson
- Social Security and Declining Labor-Force Participation in Germany pp. 173-78

- Axel Borsch-Supan and Reinhold Schnabel
- 401(k) Plans and Future Patterns of Retirement Saving pp. 179-84

- James Poterba, Steven Venti and David Wise
- The Cause of Wealth Dispersion at Retirement: Choice or Chance? pp. 185-91

- Steven Venti and David Wise
- Socioeconomic Status and Health pp. 192-96

- James P Smith
- Extending the Consumption-Tax Treatment of Personal Retirement Saving pp. 197-201

- John B Shoven and David Wise
- Married Women's Retirement Expectations: Do Pensions and Social Security Matter? pp. 202-06

- Marjorie Honig
- Gender Differences in the Allocation of Assets in Retirement Savings Plans pp. 207-11

- Annika E Sunden and Brian J Surette
- How Are Participanats Investing Their Accounts in Participant-Directed Individual Account Pension Plans? pp. 212-16

- Leslie Papke
- Aging in the Early 20th Century pp. 217-21

- Clayne L Pope and Larry T Wimmer
- The Rise of the Welfare State and Labor-Force Participation of Older Males: Evidence from the Pre-Social Security Era pp. 222-26

- Chulhee Lee
- Secular Trends in the Determinants of Disability Benefits pp. 227-31

- Sven E Wilson and Louis L Nguyen
- The Evolution of Retirement: Summary of a Research Project pp. 232-36

- Dora Costa
- Uncertain Demographic Futures and Social Security Finances pp. 237-41

- Ronald Lee and Shripad Tuljapurkar
- Demographic Analysis of Aging and Longevity pp. 242-47

- James W Vaupel
- Aging and Inequality in Income and Health pp. 248-53

- Angus Deaton and Christina Paxson
- Generations and the Distribution of Economic Well-Being: A Cross-National View pp. 254-58

- Timothy M Smeeding and Dennis H Sullivan
- Relative Cohort Size and Inequality in the United States pp. 259-64

- Diane Macunovich
- Intergenerational Transmission of Health pp. 265-70

- Dennis Ahlburg
- Transfers, Empathy Formation, and Reverse Transfers pp. 271-76

- Oded Stark and Ita Falk
- The Prestige Motive for Making Charitable Transfers pp. 277-82

- William T Harbaugh
- Tax Policy and Gifts pp. 283-88

- Louis Kaplow
- Taxes, Uncertainty, and Human Capital pp. 289-92

- Kenneth Judd
- Tax Policy and Human-Capital Formation pp. 293-97

- James J Heckman, Lance Lochner and Christopher Taber
- Does Government R&D Policy Mainly Benefit Scientists and Engineers? pp. 298-302

- Austan Goolsbee
- The Origins of State-Level Differences in the Public Provision of Higher Education: 1890-1940 pp. 303-08

- Claudia Goldin and Lawrence Katz
- How Much Does School Spending Depend on Family Income? The Historical Origins of the Current School Finance Dilemma pp. 309-14

- Caroline M Hoxby
- Demographic Change, Intergenerational Linkages, and Public Education pp. 315-20

- James Poterba
- When We Work pp. 321-25

- Daniel S Hamermesh
- Assortative Mating by Schooling and the Work Behavior of Wives and Husbands pp. 326-29

- John Pencavel
- The Unequal Work Day: A Long-Term View pp. 330-34

- Dora Costa
- Absolute versus Relative Poverty pp. 335-41

- James Foster
- Self-Reliance as a Poverty Criterion: Trends in Earnings-Capacity Poverty, 1975-1992 pp. 342-47

- Robert Haveman and Andrew Bershadker
- Alternative Historical Trends in Poverty pp. 348-51

- David M Betson and Jennifer L Warlick
- Poverty-Measurement Research Using the Consumer Expenditure Survey and the Survey of Income and Program Participation pp. 352-56

- Short, Kathleen, et al
- Race and Class in Postindustrial Employment pp. 357-62

- Gerald D Jaynes
- Quit Behavior as a Measure of Worker Opportunity: Black Workers in the Interwar Industrial North pp. 363-67

- Warren Whatley and Stan Sedo
- Assessing 50 Years of African-American Economic Status, 1940-1990 pp. 368-75

- Marcus Alexis
- Imagined Risks and Cost-Benefit Analysis pp. 376-80

- Robert Pollak
- General-Equilibrium Treatment Effects: A Study of Tuition Policy pp. 381-86

- James J Heckman, Lance Lochner and Christopher Taber
- Regulatory Discretion and the Unofficial Economy pp. 387-92

- Simon Johnson, Daniel Kaufmann and Pablo Zoido-Lobaton
- Changing Incentives of the Chinese Bureaucracy pp. 393-97

- David D Li
- Private Enforcement of Public Laws: A Theory of Legal Reform pp. 398-403

- Jonathan R Hay and Andrei Shleifer
- The 1940 System: Japan under the Wartime Economy pp. 404-16

- Yukio Noguchi
- The Incentive Structure of a "Managed Market Economy": Can It Survive the Millennium? pp. 417-21

- Koichi Hamada
- Competition, Policy Burdens, and State-Owned Enterprise Reform pp. 422-27

- Justin Lin, Fang Cai and Zhou Li
- China's State Enterprises: Public Goods, Externalities, and Coase pp. 428-32
- Gary Jefferson
- Village Leaders and Land-Rights Formation in China pp. 433-38

- Scott Rozelle and Guo Li
- The Double Drain with a Cross-Border Twist: More on the Relationship between Banking and Currency Crises pp. 439-43

- Victoria Miller
- Financial Crises in Asia and Latin America: Then and Now pp. 444-48

- Graciela Kaminsky and Carmen Reinhart
- On the Importance of the Precautionary Saving Motive pp. 449-53

- Annamaria Lusardi
- Risk, Entrepreneurship, and Human-Capital Accumulation pp. 454-57

- Murat Iyigun and Ann Owen
- Who Owns Guns? Criminals, Victims, and the Culture of Violence pp. 458-62

- Edward Glaeser and Spencer Glendon
- Guns, Violence, and the Efficiency of Illegal Markets pp. 463-67

- John Donohue and Steven Levitt
- Lives Saved or Lives Lost? The Effects of Concealed-Handgun Laws on Crime pp. 468-74

- Hashem Dezhbakhsh and Paul Rubin
- Criminal Deterrence, Geographic Spillovers, and the Right to Carry Concealed Handguns pp. 475-79

- Stephen Bronars and Lott, John R,
- Engaging Students in Quantitative Analysis with Short Case Examples from the Academic and Popular Press pp. 480-86

- William Becker
- Teaching Undergraduate Econometrics: A Suggestion for Fundamental Change pp. 487-91

- Peter Kennedy
Volume 88, issue 1, 1998
- A Vision of the Growth Process pp. 1-32
- Arnold C Harberger
- Competition between Private and Public Schools, Vouchers, and Peer-Group Effects pp. 33-62

- Dennis Epple and Richard Romano
- The Social Selection of Flexible and Rigid Agents pp. 63-82

- Harrington, Joseph E,
- Optimal Income Taxation: An Example with a U-Shaped Pattern of Optimal Marginal Tax Rates pp. 83-95

- Peter Diamond
- Endogenously Chosen Boards of Directors and Their Monitoring of the CEO pp. 96-118

- Benjamin E Hermalin and Michael Weisbach
- The Simple Economics of Easter Island: A Ricardo-Malthus Model of Renewable Resource Use pp. 119-38

- James Brander and M. Scott Taylor
- Sources of Inefficiency in a Representative Democracy: A Dynamic Analysis pp. 139-56

- Timothy Besley and Stephen Coate
- Altruists, Egoists, and Hooligans in a Local Interaction Model pp. 157-79

- Ilan Eshel, Larry Samuelson and Avner Shaked
- When Does It Take a Nixon to Go to China? pp. 180-97

- Alex Cukierman and Mariano Tommasi
- What Price Coordination? The Efficiency-Enhancing Effect of Auctioning the Right to Play pp. 198-225

- Vincent Crawford and Bruno Broseta
- The International Ramifications of Tax Reforms: Supply-Side Economics in a Global Economy pp. 226-45

- Enrique Mendoza and Linda Tesar
- Currencies and the Allocation of Risk: The Welfare Effects of a Monetary Union pp. 246-59

- Pablo Neumeyer
- The Ultimate Externality pp. 260-65

- Jon D Harford
- The Impact of Educational Standards on the Level and Distribution of Earnings pp. 266-75

- Julian R Betts
- Competition over More Than One Prize pp. 276-89

- Derek J Clark and Christian Riis
- Intellectual Human Capital and the Birth of U.S. Biotechnology Enterprises pp. 290-306

- Lynne Zucker, Michael Darby and Marilynn B Brewer
- Sunk Costs and Firm Value Variability: Theory and Evidence pp. 307-13

- Val Lambson and Farrell E Jensen
- Measuring Consumer Surplus with Unknown Hicksian Demands pp. 314-22

- Ian Irvine and William A Sims
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