American Economic Review

1969 - 2025

Current editor(s): Esther Duflo

From American Economic Association
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Volume 87, issue 6, 1997

An Outline of My Main Contributions to Economic Science pp. 3-12

Maurice Allais

Econometrics and the Welfare State pp. 13-15

Trygve Haavelmo

The Accounts of Society pp. 17-29

Richard Stone

Volume 87, issue 5, 1997

Exchange Economies and Loss Exposure: Experiments Exploring Prospect Theory and Competitive Equilibria in Market Environments pp. 801-28

Mikhail Myagkov and Charles Plott

Anomalous Behavior in Public Goods Experiments: How Much and Why? pp. 829-46

Thomas Palfrey and Jeffrey E Prisbrey

Information Cascades in the Laboratory pp. 847-62

Lisa Anderson and Charles Holt

Contagion and Bank Failures during the Great Depression: The June 1932 Chicago Banking Panic pp. 863-83

Charles Calomiris and Joseph R Mason

Interactions between the Seasonal and Business Cycles in Production and Inventories pp. 884-92

Stephen Cecchetti, Anil Kashyap and David Wilcox

Agency Costs, Net Worth, and Business Fluctuations: A Computable General Equilibrium Analysis pp. 893-910

Charles Carlstrom and Timothy Fuerst

Credibility of Optimal Monetary Delegation pp. 911-20

Henrik Jensen

The Welfare State and Competitiveness pp. 921-39

Alberto Alesina and Roberto Perotti

A Coalition-Formation Approach to Equilibrium Federations and Trading Blocs pp. 940-56

John Burbidge, James A. DePater, Gordon M. Meyers and Abhijit Sengupta

The Economics of Split-Ticket Voting in Representative Democracies pp. 957-76

Varadarajan Chari, Larry Jones and Ramon Marimon

Political Institutions and Sorting in a Tiebout Model pp. 977-92

Ken Kollman, John H Miller and Scott E Page

Evidence of Nominal Wage Stickiness from Microdata pp. 993-1008

Shulamit Kahn

Intergenerational Income Mobility in Sweden Compared to the United States pp. 1009-18

Anders Bjorklund and Markus Jantti

Is Inequality Harmful for Growth? Comment pp. 1019-32

Mark Partridge

Productivity Growth, Technical Progress, and Efficiency Change in Industrialized Countries: Comment pp. 1033-39

Subhash Ray and Evangelia Desli

Productivity Growth, Technical Progress, and Efficiency Change in Industrialized Countries: Reply pp. 1040-43

Rolf Fare, Shawna Grosskopf and Mary Norris

Volume 87, issue 4, 1997

Technology, Factor Supplies, and International Specialization: Estimating the Neoclassical Model pp. 475-94

James Harrigan

The International Transmission of Financial Shocks: The Case of Japan pp. 495-505

Joe Peek and Eric Rosengren

A Political-Economic Analysis of Free-Trade Agreements pp. 506-19

Philip Levy

An Empirical Assessment of the Proximity-Concentration Trade-off between Multinational Sales and Trade pp. 520-44

S Lael Brainard

The Decision to Export in Colombia: An Empirical Model of Entry with Sunk Costs pp. 545-64

Mark Roberts and James Tybout

Privatization in Eastern Germany: Management Selection and Economic Transition pp. 565-97

Isaac Dyck

Competition or Compensation: Supplier Incentives under the American and Japanese Subcontracting Systems pp. 598-618

Curtis Taylor and Steven N Wiggins

Demand Uncertainty and Price Maintenance: Markdowns as Destructive Competition pp. 619-41

Raymond Deneckere, Howard P Marvel and James Peck

Public Policy towards R&D in Oligopolistic Industries pp. 642-62

Dermot Leahy and J. Peter Neary

Secret Reserve Prices in a Bidding Model with a Resale Option pp. 663-84

Ignatius J Horstmann and Chantale LaCasse

Optimal Health Insurance and Provider Payment pp. 685-704

Ching-to Ma and Thomas G McGuire

The Role of the Family in Immigrants' Labor-Market Activity: An Evaluation of Alternative Explanations pp. 705-27

Michael Baker and Dwayne Benjamin

Transaction Costs and Price Volatility: Evidence from Commission Deregulation pp. 728-37

Charles Jones and Paul J Seguin

Risk Aversion and Stock Price Sensitivity to Dividends pp. 738-45

May Hagiwara and Miguel A Herce

The Cost of Price Incentives: An Empirical Analysis of Motivation Crowding-Out pp. 746-55

Bruno Frey and Felix Oberholzer-Gee

Long-Run Neutrality and Superneutrality in an ARIMA Framework: Comment pp. 756-59

Alfred A Haug and Robert Lucas

Generics and New Goods in Pharmaceutical Price Indexes: Comment pp. 760-67

Robert Feenstra

Generics and New Goods in Pharmaceutical Price Indexes: Reply pp. 768

Zvi Griliches and Iain Cockburn

Volume 87, issue 3, 1997

Equity and Time to Sale in the Real Estate Market pp. 255-69

David Genesove and Christopher Mayer

Using Electoral Cycles in Police Hiring to Estimate the Effect of Police on Crime pp. 270-90

Steven Levitt

The Effects of Human Resource Management Practices on Productivity: A Study of Steel Finishing Lines pp. 291-313

Casey Ichniowski, Kathryn Shaw and Giovanna Prennushi

Productivity under Group Incentives: An Experimental Study pp. 314-41

Haig R Nalbantian and Andrew Schotter

Long-Run Implications of Investment-Specific Technological Change pp. 342-62

Jeremy Greenwood, Zvi Hercowitz and Per Krusell

Technological Progress, Mobility, and Economic Growth pp. 363-82

Oded Galor and Daniel Tsiddon

On the Speed of Convergence in Endogenous Growth Models pp. 383-99

Salvador Ortigueira and Manuel S Santos

Size, Sunk Costs, and Judge Bowker's Objection to Free Trade pp. 400-420

John McLaren

Using International and Japanese Regional Data to Determine When the Factor Abundance Theory of Trade Works pp. 421-46

Donald Davis, David Weinstein, Scott Bradford and Kazushige Shimpo

Firm-Specific Assets and the Link between Exchange Rates and Foreign Direct Investment pp. 447-65

Bruce Blonigen

Volume 87, issue 2, 1997

Agriculture and the Wealth of Nations pp. 1-12

D. Johnson

The IMF and Russia pp. 13-16

Yegor Gaidar

Argentina's Convertibility Plan and the IMF pp. 17-22

Domingo F Cavallo and Joaquin A Cottani

Applied Economics in Action: IMF Programs pp. 23-27

Stanley Fischer

IMF Surveillance pp. 28-31

Michael Mussa

Asset Inequality Matters: An Assessment of the World Bank's Approach to Poverty Reduction pp. 32-37

Nancy Birdsall and Juan Luis Londono

Project Analysis and the World Bank pp. 38-42

Glenn Jenkins

Trade Liberalization Reforms and the World Bank pp. 43-48

Sebastian Edwards

What Do Economists Know That Policymakers Need To? pp. 49-53

James W Fox

The Evolution of Economic Policymaking in Africa pp. 54-57

Jerome M Wolgin

Speed of Policy Reform and Outcomes pp. 58-62

Samuel L Skogstad and Stephen S Everhart

Project Evaluation Training and Public Investment in Chile pp. 63-67

Ernesto R Fontaine

Highway Franchising: Pitfalls and Opportunities pp. 68-72

Eduardo Engel, Ronald Fischer and Alexander Galetovic

Trade Reform and Uniform Import Tariffs: The Chilean Experience pp. 73-77

Vittorio Corbo

The CPI Commission: Findings and Recommendations pp. 78-83

Boskin, Michael J, et al

Quality Change and New Products pp. 84-88

Robert Gordon and Zvi Griliches

Implications of Overstating Inflation for Indexing Government Programs and Understanding Economic Progress pp. 89-93

Michael J Boskin and Dale Jorgenson

The Council of Economic Advisers: From Stabilization to Resource Allocation pp. 99-102

Martin Feldstein

Presidents and Economists: The Council of Economic Advisers pp. 103-06

Roger B Porter

It Ain't the Things You Don't Know That Hurt You, It's the Things You Know That Ain't So pp. 107-08

Robert Solow

Looking out for the National Interest: The Principles of the Council of Economic Advisers pp. 109-13

Joseph Stiglitz

Consumption Taxes and Saving: The Role of Uncertainty in Tax Reform pp. 114-19

Eric M Engen and William Gale

Neglected Effects on the Uses Side: Even a Uniform Tax Would Change Relative Goods Prices pp. 120-25

Don Fullerton and Diane Lim

The Long-Run Dynamics of Fundamental Tax Reform pp. 126-32

Dale Jorgenson and Peter Wilcoxen

Developing Policy Analysis of Fundamental Tax Reform pp. 133-37

Peter M Taylor

How Different Are Income and Consumption Taxes? pp. 138-42

R Glenn Hubbard

The Future of Fundamental Tax Reform pp. 143-46

Alan Auerbach

Potential Disruption from the Move to a Consumption Tax pp. 147-50

Robert E Hall

Deconstructing the Income Tax pp. 151-55

Joel Slemrod

Reconsidering the Fiscal Role of Government pp. 156-59

Richard A Musgrave

Choice, Exchange, and Public Finance pp. 160-63

Richard Wagner

Reconsidering the Fiscal Role of Government: The International Perspective pp. 164-68

Vito Tanzi and Ludger Schuknecht

Reconciling Normative and Positive Theories of Government pp. 169-72

Joseph Cordes

Levels of Economic Activity across Countries pp. 173-77

Robert E Hall and Charles Jones

I Just Ran Two Million Regressions pp. 178-83

Xavier Sala-i-Martin

Fundamental Sources of Long-Run Growth pp. 184-88

Jeffrey D Sachs and Andrew Warner

Credible Economic Liberalizations and Overborrowing pp. 189-93

Ronald McKinnon and Huw Pill

Per Capita Income Convergence and the Role of International Trade pp. 194-99

Matthew J Slaughter

International Labor Flows and National Wages pp. 200-204

Stanley L Engerman and Ronald Jones

Trade Policy, Growth, and Income Distribution pp. 205-10

Sebastian Edwards

Preferences, Domains, and Sustainability pp. 211-13

Peter Kenen

Currency Areas, Common Currencies, and EMU pp. 214-16

Robert Mundell

Political and Institutional Commitment to a Common Currency pp. 217-20

Michael Mussa

Fiscal Aspects of Monetary Integration pp. 221-23

Rüdiger Dornbusch

The Common Unresolved Problem with the EMS and EMU pp. 224-26

Dominick Salvatore

EMU as a Device for Collective Fiscal Retrenchment pp. 227-29

Ronald McKinnon

Is There a Core of Usable Macroeconomics We Should All Believe In? pp. 230-32

Robert Solow

A Core of Practical Macroeconomics pp. 233-35

John Taylor

Some Thoughts on Practical Stabilization Policy pp. 236-39

Martin Eichenbaum

Is There a Core of Practical Macroeconomics That We Should All Believe? pp. 240-43

Alan Blinder

Is There a Core of Usable Macroeconomics? pp. 244-46

Olivier Blanchard

National Voluntary Content Standards for Pre-College Economics Education pp. 247-53

John Siegfried and Bonnie T Meszaros

An Appraisal of Economics Content in the History, Social Studies, Civics, and Geography National Standards pp. 254-59

Stephen Buckles and Michael Watts

The Effect of National Standards and Curriculum-Based Exams on Achievement pp. 260-64

John H Bishop

Valuing Alternative-Fuel Vehicles in Southern California pp. 265-71

Camilla Kazimi

Federal Housing Assistance, Residential Relocation, and Educational Opportunities: Evidence from Baltimore pp. 272-77

Helen Ladd and Jens Ludwig

A Vector-Autoregression Analysis of State-Government Expenditure pp. 278-82

Therese A McCarty and Stephen J Schmidt

The Rise and Downward Trend of the Natural Rate pp. 283-89

Edmund Phelps and Gylfi Zoega

The Rise and Persistence of Rigidities pp. 290-94

Gilles Saint-Paul

Unemployment and Nonemployment pp. 295-300

Kevin Murphy and Robert Topel

Racial and Ethnic Inequality in the United States: A Secular Perspective pp. 301-05

William Darity, Jason Dietrich and David K Guilkey

The Racial Unemployment Gap in Long-Run Perspective pp. 306-10

Robert Fairlie and William A Sundstrom

Occupational Gains of Black Women since the 1964 Civil Rights Act: Long-Term or Episodic? pp. 311-14

Augustin Fosu

Recent Perspectives on African-Americans in Post-Industrial Labor Markets pp. 315-20

James B Stewart

Challenges of China's Economic System for Economic Theory pp. 321-27

Gregory Chow

Income, Growth, and Economic Freedom pp. 328-32

Stephen Easton and Michael A Walker

Trust in Large Organizations pp. 333-38

La Porta, Rafael, et al

The Reform of the Welfare State and Public Opinion pp. 339-43

János Kornai

Russian Dilemmas pp. 344-48

Axel Leijonhufvud and Christof Ruhl

Policy Performance and Output Growth in the Transition Economies pp. 349-53

Marcelo Selowsky and Ricardo Martin

The Invisible Hand and the Grabbing Hand pp. 354-58

Timothy Frye and Andrei Shleifer

Intrinsic Motivation and Extrinsic Incentives pp. 359-64

David Kreps

Social Norms and the Law: An Economic Approach pp. 365-69

Richard Posner

Incentives and Social Norms in Household Behavior pp. 370-77

Assar Lindbeck

Power of Incentives in Private versus Public Organizations pp. 378-82

Avinash Dixit

Measuring Government Performance: Lessons from a Federal Job-Training Program pp. 383-88

Pascal Courty and Gerald Marschke

Assessing the Performance of Performance Standards in Public Bureaucracies pp. 389-95

James J Heckman, Carolyn Heinrich and Jeffrey Smith

Exploring the "Present through the Past": Career and Family across the Last Century pp. 396-99

Claudia Goldin

Cliometrics after Forty Years pp. 400-403

Avner Greif

The Value of Quantitative Evidence on the Effect of the Past on the Present pp. 404-08

James J Heckman

Notes on Cliometrics' Fortieth pp. 409-11

John R Meyer

Cliometrics--Forty Years Later pp. 412-14

Douglass North

Vertical Integration as a Self-Enforcing Contractual Arrangement pp. 415-20

Benjamin Klein and Kevin Murphy

Deregulation, the Evolution of Corporate Governance Structure, and Survival pp. 421-25

Stacey R Kole and Kenneth Lehn

The Firm in Economic Theory: A Quiet Revolution pp. 426-29

Harold Demsetz

Irving Fisher (1867-1947) in Retrospect: Fisher's Introductory Text pp. 430-32

James Tobin

One Little Piece of Irving Fisher pp. 433-35

Robert Solow

Irving Fisher's Self-Stabilizing Money pp. 436-38

Robert E Hall

Irving Fisher: Modern Behavioral Economist pp. 439-41

Richard Thaler

Irving Fisher and Modern Macroeconomics pp. 442-44

Robert Dimand

Irving Fisher (1867-1947) in Retrospect pp. 445-47

William Barber

The Effect of Insurance Coverage on Breast Cancer Patients' Treatment and Hospital Choices pp. 448-53

Jean M Mitchell and Jack Hadley

Women and Substance Use: Are Women Less Susceptible to Addiction? pp. 454-59

Rosalie Pacula

The Allocation of Resources in Intergenerational Households: Adult Children and Their Elderly Parents pp. 460-64

Liliana E Pezzin and Barbara Steinberg Schone

Volume 87, issue 1, 1997

Trade Policy and Economic Development: How We Learn pp. 1-22

Anne O Krueger

The Macroeconomic Effects of War Finance in the United States: World War II and the Korean War pp. 23-40

Lee Ohanian

True Measures of GDP and Convergence pp. 41-64

Steve Dowrick and John Quiggin

Replicating Ricardian Equivalence Tests with Simulated Series pp. 65-79

Emanuela Cardia

Measuring the Liquidity Effect pp. 80-97

James D Hamilton

Optimal Inflation Targets, "Conservative" Central Banks, and Linear Inflation Contracts pp. 98-114

Lars E O Svensson

Aggregate Employment Dynamics: Building from Microeconomic Evidence pp. 115-37

Ricardo Caballero, Eduardo Engel and John Haltiwanger

Capital-Account Liberalization as a Signal pp. 138-54

Leonardo Bartolini and Allan Drazen

Excess Volatility and Closed-End Funds pp. 155-69

Jeffrey Pontiff

The International Diversification Puzzle Is Worse Than You Think pp. 170-80

Marianne Baxter and Urban Jermann

An Asset Allocation Puzzle pp. 181-91

Niko Canner, N. Gregory Mankiw and David Weil

The Consumption Smoothing Benefits of Unemployment Insurance pp. 192-205

Jonathan Gruber

Welfare-Improving Health Expenditure Subsidies pp. 206-21

William Jack and Louise Sheiner

Disease Eradication: Private versus Public Vaccination pp. 222-30

Pierre Geoffard and Tomas Philipson

A Solution to the Problem of Externalities When Agents Are Well-Informed: Comment pp. 231-35

Steffen Ziss

Resolving Differences in Willingness to Pay and Willingness to Accept: Comment pp. 236-40

Gwendolyn C Morrison

Resolving Differences in Willingness to Pay and Willingness to Accept: Reply pp. 241-44

Jason Shogren and Dermot Hayes

Environmental Levies and Distortionary Taxes: Comment pp. 245-51

Don Fullerton

Environmental Levies and Distortionary Taxation: Reply pp. 252-53

Lans Bovenberg and Ruud de Mooij