American Economic Review

1969 - 2025

Current editor(s): Esther Duflo

From American Economic Association
Contact information at EDIRC.
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Volume 111, issue 12, 2021

Product Innovation, Product Diversification, and Firm Growth: Evidence from Japan's Early Industrialization pp. 3795-3826

Serguey Braguinsky, Atsushi Ohyama, Tetsuji Okazaki and Chad Syverson

Tax Administration versus Tax Rates: Evidence from Corporate Taxation in Indonesia pp. 3827-71

Muhamad Basri, Mayara Felix, Rema Hanna and Benjamin A. Olken

Sectoral Media Focus and Aggregate Fluctuations pp. 3872-3922

Ryan Chahrour, Kristoffer Nimark and Stefan Pitschner

Team-Specific Human Capital and Team Performance: Evidence from Doctors pp. 3923-62

Yiqun Chen

Prep School for Poor Kids: The Long-Run Impacts of Head Start on Human Capital and Economic Self-Sufficiency pp. 3963-4001

Martha Bailey, Shuqiao Sun and Brenden Timpe

M Equilibrium: A Theory of Beliefs and Choices in Games pp. 4002-45

Jacob K. Goeree and Philippos Louis

Delegation in Veto Bargaining pp. 4046-87

Navin Kartik, Andreas Kleiner and Richard Van Weelden

Synthetic Difference-in-Differences pp. 4088-4118

Dmitry Arkhangelsky, Susan Athey, David A. Hirshberg, Guido Imbens and Stefan Wager

Volume 111, issue 11, 2021

Market Entry, Fighting Brands, and Tacit Collusion: Evidence from the French Mobile Telecommunications Market pp. 3459-99

Marc Bourreau, Yutec Sun and Frank Verboven

Bargaining under the Illusion of Transparency pp. 3500-3539

Kristóf Madarász

Naïve Learning with Uninformed Agents pp. 3540-74

Abhijit Banerjee, Emily Breza, Arun G. Chandrasekhar and Markus Mobius

Incentive Constrained Risk Sharing, Segmentation, and Asset Pricing pp. 3575-3610

Bruno Biais, Johan Hombert and Pierre-Olivier Weill

Venting Out: Exports during a Domestic Slump pp. 3611-62

Miguel Almunia, Pol Antràs, David Lopez-Rodriguez and Eduardo Morales

The Causal Interpretation of Two-Stage Least Squares with Multiple Instrumental Variables pp. 3663-98

Magne Mogstad, Alexander Torgovitsky and Christopher Walters

Constrained Pseudo-Market Equilibrium pp. 3699-3732

Federico Echenique, Antonio Miralles and Jun Zhang

Labor Supply Responses to Learning the Tax and Benefit Schedule pp. 3733-66

Andreas R. Kostøl and Andreas Myhre

The Intergenerational Effects of a Large Wealth Shock: White Southerners after the Civil War pp. 3767-94

Philipp Ager, Leah Boustan and Katherine Eriksson

Volume 111, issue 10, 2021

Jobs for Sale: Corruption and Misallocation in Hiring pp. 3093-3122

Jeffrey Weaver

Oligopolistic Price Leadership and Mergers: The United States Beer Industry pp. 3123-59

Nathan H. Miller, Gloria Sheu and Matthew C. Weinberg

Mistakes, Overconfidence, and the Effect of Sharing on Detecting Lies pp. 3160-83

Marta Serra-Garcia and Uri Gneezy

Labor Rationing pp. 3184-3224

Emily Breza, Supreet Kaur and Yogita Shamdasani

Neighborhood-Based Information Costs pp. 3225-55

Benjamin Hebert and Michael Woodford

Projection of Private Values in Auctions pp. 3256-98

Tristan Gagnon-Bartsch, Marco Pagnozzi and Antonio Rosato

From Mad Men to Maths Men: Concentration and Buyer Power in Online Advertising pp. 3299-3327

Francesco Decarolis and Gabriele Rovigatti

The Effect of High-Tech Clusters on the Productivity of Top Inventors pp. 3328-75

Enrico Moretti

Quantifying the Supply Response of Private Schools to Public Policies pp. 3376-3417

Michael Dinerstein and Troy D. Smith

Assortative Matching or Exclusionary Hiring? The Impact of Employment and Pay Policies on Racial Wage Differences in Brazil pp. 3418-57

Francois Gerard, Lorenzo Lagos, Edson Severnini and David Card

Volume 111, issue 9, 2021

Inattention and Switching Costs as Sources of Inertia in Medicare Part D pp. 2737-81

Florian Heiss, Daniel McFadden, Joachim Winter, Amelie Wuppermann and Bo Zhou

The Risk-Adjusted Carbon Price pp. 2782-2810

Ton van den Bremer and Frederick (Rick) van der Ploeg

Implementation by Vote-Buying Mechanisms pp. 2811-28

Jon Eguia and Dimitrios Xefteris

Mortgage Prepayment and Path-Dependent Effects of Monetary Policy pp. 2829-78

David Berger, Konstantin Milbradt, Fabrice Tourre and Joseph Vavra

Asymmetric Attention pp. 2879-2925

Alexandre N. Kohlhas and Ansgar Walther

The Effects of Parental and Sibling Incarceration: Evidence from Ohio pp. 2926-63

Samuel Norris, Matthew Pecenco and Jeffrey Weaver

From Weber to Kafka: Political Instability and the Overproduction of Laws pp. 2964-3003

Gabriele Gratton, Luigi Guiso, Claudio Michelacci and Massimo Morelli

Justified Communication Equilibrium pp. 3004-34

Daniel Clark and Drew Fudenberg

The Challenges of Universal Health Insurance in Developing Countries: Experimental Evidence from Indonesia's National Health Insurance pp. 3035-63

Abhijit Banerjee, Amy Finkelstein, Rema Hanna, Benjamin A. Olken, Arianna Ornaghi and Sudarno Sumarto

Media, Pulpit, and Populist Persuasion: Evidence from Father Coughlin pp. 3064-92

Tianyi Wang

Volume 111, issue 8, 2021

Lapse-Based Insurance pp. 2377-2416

Daniel Gottlieb and Kent Smetters

Daily Labor Supply and Adaptive Reference Points pp. 2417-43

Neil Thakral and Linh Tô

Mediation in Reputational Bargaining pp. 2444-72

Jack Fanning

What to Expect from the Lower Bound on Interest Rates: Evidence from Derivatives Prices pp. 2473-2505

Thomas M. Mertens and John Williams

The Impacts of a Multifaceted Prenatal Intervention on Human Capital Accumulation in Early Life pp. 2506-49

Pedro Carneiro, Lucy Kraftman, Giacomo Mason, Lucie Moore, Imran Rasul and Molly Scott

The Long-Run Effects of Childhood Insurance Coverage: Medicaid Implementation, Adult Health, and Labor Market Outcomes pp. 2550-93

Andrew Goodman-Bacon

Identifying Present Bias from the Timing of Choices pp. 2594-2622

Paul Heidhues and Philipp Strack

Entry-Proofness and Discriminatory Pricing under Adverse Selection pp. 2623-59

Andrea Attar, Thomas Mariotti and François Salanié

Targeting In-Kind Transfers through Market Design: A Revealed Preference Analysis of Public Housing Allocation pp. 2660-96

Daniel Waldinger

Place-Based Drivers of Mortality: Evidence from Migration pp. 2697-2735

Amy Finkelstein, Matthew Gentzkow and Heidi Williams

Volume 111, issue 7, 2021

Notching R&D Investment with Corporate Income Tax Cuts in China pp. 2065-2100

Zhao Chen, Zhikuo Liu, Juan Carlos Suárez Serrato and Daniel Yi Xu

Unwatched Pollution: The Effect of Intermittent Monitoring on Air Quality pp. 2101-26

Eric Zou

How to Avoid Black Markets for Appointments with Online Booking Systems pp. 2127-51

Rustamdjan Hakimov, C.-Philipp Heller, Dorothea Kübler and Morimitsu Kurino

Adverse and Advantageous Selection in the Laboratory pp. 2152-78

S. Nageeb Ali, Maximilian Mihm, Lucas Siga and Chloe Tergiman

Pay Me Later: Savings Constraints and the Demand for Deferred Payments pp. 2179-2212

Lasse Brune, Eric Chyn and Jason Kerwin

Recruitment, Effort, and Retention Effects of Performance Contracts for Civil Servants: Experimental Evidence from Rwandan Primary Schools pp. 2213-46

Clare Leaver, Owen Ozier, Pieter Serneels and Andrew Zeitlin

Market Fragmentation pp. 2247-74

Daniel Chen and Darrell Duffie

Security Transitions pp. 2275-2308

Thiemo Fetzer, Pedro C. L. Souza, Oliver Vanden Eynde and Austin L. Wright

The Economic Consequences of Bankruptcy Reform pp. 2309-41

Tal Gross, Raymond Kluender, Feng Liu, Matthew Notowidigdo and Jialan Wang

On Her Own Account: How Strengthening Women's Financial Control Impacts Labor Supply and Gender Norms pp. 2342-75

Erica Field, Rohini Pande, Natalia Rigol, Simone Schaner and Charity Moore

Volume 111, issue 6, 2021

Closing the Gap: The Effect of Reducing Complexity and Uncertainty in College Pricing on the Choices of Low-Income Students pp. 1721-56

Susan Dynarski, Libassi Cj, Katherine Michelmore and Stephanie Owen

The Selection of Talent: Experimental and Structural Evidence from Ethiopia pp. 1757-1806

Girum Abebe, A. Stefano Caria and Esteban Ortiz-Ospina

Types of Contact: A Field Experiment on Collaborative and Adversarial Caste Integration pp. 1807-44

Matt Lowe

Feedbacks: Financial Markets and Economic Activity pp. 1845-79

Markus Brunnermeier, Darius Palia, Karthik A. Sastry and Christopher Sims

Can Policy Change Culture? Government Pension Plans and Traditional Kinship Practices pp. 1880-1917

Natalie Bau

Can Network Theory-Based Targeting Increase Technology Adoption? pp. 1918-43

Lori Beaman, Ariel BenYishay, Jeremy Magruder and Ahmed Mobarak

Digitization and Pre-purchase Information: The Causal and Welfare Impacts of Reviews and Crowd Ratings pp. 1944-71

Imke Reimers and Joel Waldfogel

Discrete Choice under Risk with Limited Consideration pp. 1972-2006

Levon Barseghyan, Francesca Molinari and Matthew Thirkettle

Digital Dystopia pp. 2007-48

Jean Tirole

Volume 111, issue 5, 2021

Auction Research Evolving: Theorems and Market Designs pp. 1383-1405

Paul Milgrom

A Few Bad Apples? Racial Bias in Policing pp. 1406-41

Felipe Goncalves and Steven Mello

How Research Affects Policy: Experimental Evidence from 2,150 Brazilian Municipalities pp. 1442-80

Jonas Hjort, Diana Moreira, Gautam Rao and Juan Francisco Santini

Five Facts about Beliefs and Portfolios pp. 1481-1522

Stefano Giglio, Matteo Maggiori, Johannes Stroebel and Stephen Utkus

Dynastic Human Capital, Inequality, and Intergenerational Mobility pp. 1523-48

Adrian Adermon, Mikael Lindahl and Mårten Palme

The Role of Behavioral Frictions in Health Insurance Marketplace Enrollment and Risk: Evidence from a Field Experiment pp. 1549-74

Richard Domurat, Isaac Menashe and Wesley Yin

An Experiment in Candidate Selection pp. 1575-1612

Katherine Casey, Abou Bakarr Kamara and Niccoló F. Meriggi

Stock Market Wealth and the Real Economy: A Local Labor Market Approach pp. 1613-57

Gabriel Chodorow-Reich, Plamen T. Nenov and Alp Simsek

Efficiency and Equity Impacts of Energy Subsidies pp. 1658-88

Robert W. Hahn and Robert Metcalfe

Cross-Region Transfer Multipliers in a Monetary Union: Evidence from Social Security and Stimulus Payments pp. 1689-1719

Steven Pennings

Volume 111, issue 4, 2021

Behavioral Constraints on the Design of Subgame-Perfect Implementation Mechanisms pp. 1055-91

Ernst Fehr, Michael Powell and Tom Wilkening

The Macroeconomic Effects of Oil Supply News: Evidence from OPEC Announcements pp. 1092-1125

Diego Känzig

Reference Points for Retirement Behavior: Evidence from German Pension Discontinuities pp. 1126-65

Arthur Seibold

Myopia and Anchoring pp. 1166-1200

George-Marios Angeletos and Zhen Huo

Parental Resources and College Attendance: Evidence from Lottery Wins pp. 1201-40

George Bulman, Robert Fairlie, Sarena Goodman and Adam Isen

Impacts of Performance Pay for Hospitals: The Readmissions Reduction Program pp. 1241-83

Atul Gupta

The Legacy of Colonial Medicine in Central Africa pp. 1284-1314

Sara Lowes and Eduardo Montero

Risk-Based Selection in Unemployment Insurance: Evidence and Implications pp. 1315-55

Camille Landais, Arash Nekoei, Peter Nilsson, David Seim and Johannes Spinnewijn

When Does Regulation Distort Costs? Lessons from Fuel Procurement in US Electricity Generation: Comment pp. 1356-72

Jin Soo Han, Jean-François Houde, Arthur A. van Benthem and Jose Miguel Abito

When Does Regulation Distort Costs? Lessons from Fuel Procurement in US Electricity Generation: Reply pp. 1373-81

Steve Cicala

Volume 111, issue 3, 2021

Rank Uncertainty in Organizations pp. 757-86

Marina Halac, Elliot Lipnowski and Daniel Rappoport

What Motivates Paternalism? An Experimental Study pp. 787-830

Sandro Ambuehl, B. Douglas Bernheim and Axel Ockenfels

Social Media, News Consumption, and Polarization: Evidence from a Field Experiment pp. 831-70

Ro'ee Levy

Knowledge Spillovers and Corporate Investment in Scientific Research pp. 871-98

Ashish Arora, Sharon Belenzon and Lia Sheer

Job Displacement Insurance and (the Lack of) Consumption-Smoothing pp. 899-942

Francois Gerard and Joana Naritomi

The Efficiency of Race-Neutral Alternatives to Race-Based Affirmative Action: Evidence from Chicago's Exam Schools pp. 943-75

Glenn Ellison and Parag Pathak

The Abolition of Immigration Restrictions and the Performance of Firms and Workers: Evidence from Switzerland pp. 976-1012

Andreas Beerli, Jan Ruffner, Michael Siegenthaler and Giovanni Peri

The Financial Transmission of Housing Booms: Evidence from Spain pp. 1013-53

Alberto Martin, Enrique Moral-Benito and Tom Schmitz

Volume 111, issue 2, 2021

Employer Consolidation and Wages: Evidence from Hospitals pp. 397-427

Elena Prager and Matt Schmitt

Aggregate Nominal Wage Adjustments: New Evidence from Administrative Payroll Data pp. 428-71

John Grigsby, Erik Hurst and Ahu Yildirmaz

Leadership in Social Movements: Evidence from the "Forty-Eighters" in the Civil War pp. 472-505

Christian Dippel and Stephan Heblich

Intertemporal Labor Supply Substitution? Evidence from the Swiss Income Tax Holidays pp. 506-46

Isabel Martínez, Emmanuel Saez and Michael Siegenthaler

The Nature of Firm Growth pp. 547-79

Vincent Sterk, Petr Sedlacek and Benjamin Pugsley

Intergenerational Mobility of Immigrants in the United States over Two Centuries pp. 580-608

Ran Abramitzky, Leah Boustan, Elisa Jacome and Santiago Perez

Speculative Fever: Investor Contagion in the Housing Bubble pp. 609-51

Patrick Bayer, Kyle Mangum and James W. Roberts

Exchange Rates and Prices: Evidence from the 2015 Swiss Franc Appreciation pp. 652-86

Raphael Auer, Ariel Burstein and Sarah Lein

Testing the Waters: Behavior across Participant Pools pp. 687-719

Erik Snowberg and Leeat Yariv

A Theory of Chosen Preferences pp. 720-54

B. Douglas Bernheim, Luca Braghieri, Alejandro Martínez-Marquina and David Zuckerman

What Makes a Rule Complex? Erratum pp. 755-

Ryan Oprea

Volume 111, issue 1, 2021

Going Negative at the Zero Lower Bound: The Effects of Negative Nominal Interest Rates pp. 1-40

Mauricio Ulate

Mobilizing the Masses for Genocide pp. 41-72

Thorsten Rogall

Equilibrium Technology Diffusion, Trade, and Growth pp. 73-128

Jesse Perla, Christopher Tonetti and Michael Waugh

The Distributional Consequences of Public School Choice pp. 129-52

Christopher Avery and Parag Pathak

Politically Feasible Reforms of Nonlinear Tax Systems pp. 153-91

Felix J. Bierbrauer, Pierre Boyer and Andreas Peichl

Asymmetric Consumption Smoothing pp. 192-230

Brian Baugh, Itzhak Ben-David, Hoonsuk Park and Jonathan Parker

Lack of Selection and Limits to Delegation: Firm Dynamics in Developing Countries pp. 231-75

Ufuk Akcigit, Harun Alp and Michael Peters

Using Models to Persuade pp. 276-323

Joshua Schwartzstein and Adi Sunderam

Job Seekers' Perceptions and Employment Prospects: Heterogeneity, Duration Dependence, and Bias pp. 324-63

Andreas Mueller, Johannes Spinnewijn and Giorgio Topa

Lumpy Investment, Business Cycles, and Stimulus Policy pp. 364-96

Thomas Winberry