American Economic Review

1969 - 2025

Current editor(s): Esther Duflo

From American Economic Association
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Volume 84, issue 5, 1994

The Economic Consequences of Unwed Motherhood: Using Twin Births as a Natural Experiment pp. 1141-56

Stephen Bronars and Jeffrey Grogger

Estimates of the Economic Returns to Schooling from a New Sample of Twins pp. 1157-73

Orley Ashenfelter and Alan Krueger

Beauty and the Labor Market pp. 1174-94

Daniel S Hamermesh and Jeff Biddle

Parental and Public Transfers to Young Women and Their Children pp. 1195-1212

Mark Rosenzweig and Kenneth I Wolpin

Generics and New Goods in Pharmaceutical Price Indexes pp. 1213-32

Zvi Griliches and Iain Cockburn

IRAs and Household Saving pp. 1233-60

William Gale and John Karl Scholz

Careers in Ongoing Hierarchies pp. 1261-77

Dominique Demougin and Aloysius Siow

A Solution to the Problem of Externalities When Agents Are Well-Informed pp. 1278-93

Hal Varian

Domestic Politics and International Conflict pp. 1294-1309

Michelle Garfinkel

Risk-Taking, Global Diversification, and Growth pp. 1310-29

Maurice Obstfeld

Benefits of Narrow Business Strategies pp. 1330-49

Julio Rotemberg and Garth Saloner

The Cleansing Effect of Recessions pp. 1350-68

Ricardo Caballero and Mohamad L Hammour

A Unified Model of Investment under Uncertainty pp. 1369-84

Andrew Abel and Janice Eberly

The Consequences of Price Instability on Search Markets: Toward Understanding the Effects of Inflation pp. 1385-96

Mariano Tommasi

Does Consumer Sentiment Forecast Household Spending? If So, Why? pp. 1397-1408

Christopher Carroll, Jeffrey Fuhrer and David Wilcox

Does World Investment Demand Determine U.S. Exports? pp. 1409-22

Andrew Warner

Differences in Relative Prices and International Differences in Growth Rates pp. 1423-36

Daniel A Nuxoll

Price Discrimination through a Distribution Channel: Theory and Evidence pp. 1437-45

Eitan Gerstner, James D Hess and Duncan M Holthausen

Why Have All the Women Gone? A Study of Exit of Women from the Science and Engineering Professions pp. 1446-62

Anne E Preston

Earnings Uncertainty and Aggregate Wealth Accumulation: Comment pp. 1463-69

Ian Irvine and Susheng Wang

Long-Run Neutrality and Superneutrality in an ARIMA Framework: Comment pp. 1470-73

John F Boschen and Christopher Otrok

Domestic Politics, Foreign Interests, and International Trade Policy: Comment pp. 1474-75

Tracy Hofer and Christopher Woodruff

Domestic Politics, Foreign Interests,, and International Trade Policy: Reply pp. 1476-78

Arye L Hillman and Heinrich Ursprung

Volume 84, issue 4, 1994

The Impact of Global Warming on Agriculture: A Ricardian Analysis pp. 753-71

Robert Mendelsohn, William Nordhaus and Daigee Shaw

Minimum Wages and Employment: A Case Study of the Fast-Food Industry in New Jersey and Pennsylvania pp. 772-93

David Card and Alan Krueger

Measuring Permanent Responses to Capital-Gains Tax Changes in Panel Data pp. 794-809

Leonard E Burman and William C Randolph

Is the Glass-Steagall Act Justified? A Study of the U.S. Experience with Universal Banking before 1933 pp. 810-32

Randall S Kroszner and Raghuram Rajan

Protection for Sale pp. 833-50

Gene Grossman and Elhanan Helpman

North-South Trade and the Global Environment pp. 851-74

Graciela Chichilnisky

Flexible Manufacturing and Market Structure pp. 875-88

B. Eaton and Nicolas Schmitt

The Intensity and Timing of Investment: The Case of Land pp. 889-904

Dennis Capozza and Yuming Li

Aggregation and Simple Dynamics pp. 905-18

Arthur Lewbel

The Existence of Pareto-Superior Price Limits pp. 919-32

Laura E Kodres and Daniel P O'Brien

Limited Market Participation and Volatility of Asset Prices pp. 933-55

Franklin Allen and Douglas Gale

A Simple Model of Educational Standards pp. 956-71

Robert M Costrell

The Firm as an Incentive System pp. 972-91

Bengt Holmstrom and Paul Milgrom

Jumping the Gun: Imperfections and Institutions Related to the Timing of Market Transactions pp. 992-1044

Alvin Roth and Xiaolin Xing

Labor-Market Dynamics When Unemployment is a Worker Discipline Device pp. 1045-59

Miles Kimball

Financial Market Imperfections, Firm Leverage, and the Cyclicality of Employment pp. 1060-74

Steven A Sharpe

Customer- and Supplier-Driven Externalities pp. 1075-84

Eric Bartelsman, Ricardo Caballero and Richard Lyons

Environmental Levies and Distortionary Taxation pp. 1085-89

Lans Bovenberg and Ruud de Mooij

An Empirical Test of the Infant Industry Argument: Comment pp. 1090-95

Ann E Harrison

An Empirical Test of the Infant Industry Argument: Reply pp. 1096

Anne O Krueger and Baran Tuncer

The Behavior of U.S. Tariff Rates: Comment pp. 1097-1103

Perry Sadorsky

Examining Risk Preferences under High Monetary Incentives: Comment pp. 1104

Guido Ortona

Examining Risk Preferences under High Monetary Incentives: Reply pp. 1105-06

Steven J Kachelmeier and Mohamed Shehata

A Note on Competitive Investment under Uncertainty: Comment pp. 1107-12

Plutarchos Sakellaris

Volume 84, issue 3, 1994

Economic Performance through Time pp. 359-68

Douglass North

Economic Growth, Population Theory, and Physiology: The Bearing of Long-Term Processes on the Making of Economic Policy pp. 369-95

Robert Fogel

An Empirical Analysis of Cigarette Addiction pp. 396-418

Gary Becker, Michael Grossman and Kevin Murphy

Rational Choice under an Imperfect Ability to Choose pp. 419-40

André de Palma, Gordon Myers and Yorgos Papageorgiou

Comparing Equilibria pp. 441-59

Paul Milgrom and John Roberts

Evolution of Time Preference by Natural Selection pp. 460-81

Alan R Rogers

Systematic Errors and the Theory of Natural Selection pp. 482-97

Michael Waldman

Coordination Economies, Advertising, and Search Behavior in Retail Markets pp. 498-517

Kyle Bagwell and Garey Ramey

Information Aggregation through Costly Political Action pp. 518-30

Susanne Lohmann

The Dynamics of Business Ethics and Economic Activity pp. 531-47

Thomas Noe and Michael J Rebello

Business as Usual, Market Crashes, and Wisdom after the Fact pp. 548-65

Andrew Caplin and John Leahy

Strategic Buyers and Exclusionary Contracts pp. 566-84

Robert Innes and Richard J Sexton

Equilibrium in Auctions with Entry pp. 585-99

Dan Levin and James Smith

Is Inequality Harmful for Growth? pp. 600-621

Torsten Persson and Guido Tabellini

The Incidence of Mandated Maternity Benefits pp. 622-41

Jonathan Gruber

The Loser's Curse pp. 642-52

Charles Holt and Roger Sherman

A Note on Sequential Auctions pp. 653-57

Dan Bernhardt and David Scoones

The Nature of Salience: An Experimental Investigation of Pure Coordination Games pp. 658-73

Judith Mehta, Chris Starmer and Robert Sugden

An Analysis of the Correlates of Discrimination Facing Young Hispanic Job-Seekers pp. 674-83

Genevieve M Kenney and Douglas A Wissoker

Highway Safety, Economic Behavior, and Driving Environment pp. 684-93

Theodore E Keeler

Workers as Creditors: Performance Bonds and Efficiency Wages pp. 694-704

Joseph Ritter and Lowell Taylor

Production, Appropriation, and Land Reform pp. 705-12

Herschel Grossman

The Empirical Nature of Taylor-Series Approximations to Expected Utility pp. 713-19

Walter Hlawitschka

New Evidence on the Relation between Inflation and Price Dispersion pp. 720-31

Marshall Reinsdorf

Sources of Variation in Real Tariff Rates: The United States, 1900-1940 pp. 732-43

Mario Crucini

Volume 84, issue 2, 1994

Methodological Individualism and Social Knowledge pp. 1-9

Kenneth Arrow

Time-Series Evidence on the pp. 10-16

George Borjas and Valerie Ramey

Regional Labor Markets and the Determinants of Wage Inequality pp. 17-22

Robert Topel

Rising Wage Inequality and the U.S. Gender Gap pp. 23-28

Francine Blau and Lawrence Kahn

Changing Wage Structure and Black-White Wage Differentials pp. 29-33

David Card and Thomas Lemieux

The Dynamics of Poverty Spells: Updating Bane and Ellwood pp. 34-37

Ann Huff Stevens

Welfare Dependence: Concepts, Measures, and Trends pp. 38-42

Peter Gottschalk and Robert Moffitt

Has the Decline in Benefits Shortened Welfare Spells? pp. 43-48

Hilary Hoynes and Thomas MaCurdy

Short-Term Recidivism among Public-Assistance Recipients pp. 49-53

Rebecca Blank and Patricia Ruggles

Low-Wage Employment Subsidies versus the Welfare State pp. 54-58

Edmund Phelps

Wage Distribution and Unemployment: The French Experience pp. 59-64

Jean-Paul Fitoussi

Converting Unemployment Benefits into Employment Subsidies pp. 65-70

Dennis J Snower

The Welfare State and the Employment Problem pp. 71-75

Assar Lindbeck

Curing Child Poverty in the United States pp. 76-80

Barbara Bergmann

The Child-Support Revolution pp. 81-85

Irwin Garfinkel

Children as Public Goods pp. 86-90

Nancy Folbre

The Economic Status of African-American Women: Special Session in Honor of Phyllis A. Wallace: Introduction pp. 91-92

Bernard E Anderson

Tilting against the Wind: Reflections on the Life and Work of Phyllis Ann Wallace pp. 93-97

Julianne Malveaux

Litigation of Employment Discrimination under Title VII: The Case of African-American Women pp. 98-102

Charles L Betsey

The Reliance of African-American Women on Government and Third-Sector Employment pp. 103-07

Lynn C Burbridge

Changes in Wage-and-Salary Returns to Skill and the Recent Rise in Female Self-Employment pp. 108-13

Theresa J Devine

A Child-Support Assurance Program: How Much Will It Reduce Child Poverty, and at What Cost? pp. 114-19

Elaine Sorensen and Sandra Clark

Housework, Wages, and the Division of Housework Time for Employed Spouses pp. 120-25

Joni Hersch and Leslie Stratton

I, Thou, and Them: Capabilities, Altruism, and Norms in the Economics of Marriage pp. 126-31

Julie Nelson

Noncooperative Bargaining Models of Marriage pp. 132-37

Shelly Lundberg and Robert Pollak

The Creation of Domestic Currencies pp. 138-42

Viviana A Zelizer

Rethinking Economics through a Feminist Lens pp. 143-47

Myra H Strober

For Better or Worse: The Roles of Power in Models of Distribution within Marriage pp. 148-52

Robert Pollak

Feminist Thought and Economics: Or, What Do the Visigoths Know? pp. 153-58

Diana L Strassmann

When Can Government Subsidize Research Joint Ventures? Politics, Economics, and Limits to Technology Policy pp. 159-63

Linda Cohen

The Political Economy of Insider-Trading Laws pp. 164-68

Carla Tighe and Ron Michener

Does Electoral Uncertainty Cause Economic Fluctuations? pp. 169-73

Michelle Garfinkel and Amihai Glazer

Expanding the Life-Cycle Model: Precautionary Saving and Public Policy pp. 174-79

R Glenn Hubbard, Jonathan Skinner and Stephen Zeldes

Targeted Retirement Saving and the Net Worth of Elderly Americans pp. 180-85

James Poterba, Steven Venti and David Wise

Psychology and Savings Policies pp. 186-92

Richard Thaler

Achievement Differences on Multiple-Choice and Essay Tests in Economics pp. 193-96

William B Walstad and William Becker

Graphs and Learning in Principles of Economics pp. 197-200

Elchanan Cohn and Sharon Cohn

The Lake Wobegon Effect in Student Self-Reported Data pp. 201-05

Nan L Maxwell and Jane S Lopus

Does More Calculus Improve Student Learning in Intermediate Micro and Macro Economic Theory? pp. 206-10

J. Butler, T Aldrich Finegan and John Siegfried

Poverty, Incentives, and Development pp. 211-15

Abhijit Banerjee and Andrew Newman

Poverty and Illness in Low-Income Rural Areas pp. 216-20

Andrew Foster

Poverty and Vulnerability pp. 221-25

Jonathan Morduch

Choosing a Welfare Indicator pp. 226-31

Sudhir Anand and Christopher J Harris

Human Development: Means and Ends pp. 232-37

Paul Streeten

Human Development: A New Paradigm or Reinvention of the Wheel? pp. 238-43

T N Srinivasan

Poverty, Human Development, and Growth: An Emerging Consensus? pp. 244-49

Harsha Aturupane, Paul Glewwe and Paul Isenman

The Interaction of Population Growth and Environmental Quality pp. 250-54

Maureen Cropper and Charles Griffiths

Human Capital, Family Planning, and Their Effects on Population Growth pp. 255-60

T Paul Schultz

Population, Poverty, and Policies pp. 261-65

Charles Timmer

Chinese Institutional Innovation and Privatization from Below pp. 266-70

Barry Naughton

Chinese Industrial Reform: Accomplishments, Prospects, and Implications pp. 271-75

Thomas Rawski

Social Security in Present-Day China and Its Reform pp. 276-80

Athar Hussain

Chinese Rural Poverty: Marginalized or Dispersed? pp. 281-84

Carl Riskin

On Economic Reform, Poverty, and Nutrition in Africa pp. 285-90

David E Sahn

Economic Reform and Social Welfare: The Case of Nutrition in Sri Lanka pp. 291-96

S R Osmani

Poverty, Food Consumption, and Nutrition during the Transition to the Market Economy in Eastern Europe pp. 297-302

Giovanni Cornia

The Great Irish Famine and Population: The Long View pp. 303-08

Timothy Guinnane

The Economic Impact of the Famine in the Short and Long Run pp. 309-13

Kevin O'Rourke

Invisible-Hand Explanations pp. 314-18

Robert Nozick

Adam Smith and the Invisible Hand pp. 319-22

Emma Rothschild

Visible and Invisible Governance pp. 323-26

Oliver Williamson

Better than Rational: Evolutionary Psychology and the Invisible Hand pp. 327-32

Leda Cosmides and John Tooby

The Invisible Hand and Externalities pp. 333-37

Eric Maskin

Direct Democracy: Politico-economic Lessons from Swiss Experience pp. 338-42

Bruno Frey

The On-and-Off Connection between Political and Economic Progress pp. 343-48

Albert Hirschman

Capacities and Limits of Democracy pp. 349-52

Nicolaus Tideman

When Inequalities Diverge pp. 353-58

Michael C Wolfson

Measuring Social Welfare with and without Poverty Lines pp. 359-64

Martin Ravallion

Normative Measurement: Is Theory Relevant? pp. 365-70

James Foster

International Comparisons of Poverty pp. 371-74

McKinley Blackburn

Bosses of Different Stripes: A Cross-National Perspective on Monitoring and Supervision pp. 375-79

David M Gordon

Supervision, Discretion, and Work Organization pp. 380-84

Paul Osterman

The Formulation of Rational Choice pp. 385-90

Amartya Sen

The Traveler's Dilemma: Paradoxes of Rationality in Game Theory pp. 391-95

Kaushik Basu

Preference, Belief, and Welfare pp. 396-400

Daniel Hausman and Michael McPherson

Rationality as Self-Interest versus Rationality as Present Aims pp. 401-05

Vivian Walsh

Inductive Reasoning and Bounded Rationality pp. 406-11

W Brian Arthur

Complex Landscapes in Economic Geography pp. 412-16

Paul Krugman

Self-Organized Criticality and Economic Fluctuations pp. 417-21

Jose A Scheinkman and Michael Woodford

Trade-Off Theory pp. 422-26

Donald E Campbell and Jerry S Kelly

Social Diversity, Arbitrage, and Gains from Trade: A Unified Perspective on Resource Allocation pp. 427-34

Graciela Chichilnisky

Rights, Welfarism, and Social Choice pp. 435-39

Prasanta K Pattanaik and Kotaro Suzumura

Information and Intergroup Transfers pp. 440-47

Charles Blackorby and David Donaldson

Social-Choice Mediators pp. 448-53

Gilbert Laffond, Jean-François Laslier and Michel Le Breton

Can a Ranking of Opportunity Sets Attach an Intrinsic Importance to Freedom of Choice? pp. 454-58

Nicolas Gravel

Volume 84, issue 1, 1994

Productivity, R&D, and the Data Constraint pp. 1-23

Zvi Griliches

Business-Cycle Durations and Postwar Stabilization of the U.S. Economy pp. 24-46

Mark Watson

Money and Growth: An Alternative Approach pp. 47-65

Peter Ireland

Productivity Growth, Technical Progress, and Efficiency Change in Industrialized Countries pp. 66-83

Rolf Fare, Shawna Grosskopf, Mary Norris and Zhongyang Zhang

Dynamics of the Trade Balance and the Terms of Trade: The J-Curve? pp. 84-103

David Backus, Patrick Kehoe and Finn Kydland

Barter and Monetary Exchange under Private Information pp. 104-23

Stephen Williamson and Randall Wright

Unemployment and Vacancies with Sectoral Shifts pp. 124-44

Arthur J Hosios

A Theory of Shortage in Socialist Economies Based on the "Soft Budget Constraint." pp. 145-56

Yingyi Qian

New Product Varieties and the Measurement of International Prices pp. 157-77

Robert Feenstra

Equal Division, Efficiency, and the Sovereign Supply of Labor pp. 178-89

Laurence Kranich

Expropriation and Inventions: Appropriable Rents in the Absence of Property Rights pp. 190-209

James Anton and Dennis A Yao

Opportunism in Multilateral Vertical Contracting: Nondiscrimination, Exclusivity, and Uniformity pp. 210-30

Randolph McAfee and Marius Schwartz

The Effect of Taxes on Labor Supply in the Underground Economy pp. 231-54

Thomas Lemieux, Bernard Fortin and Pierre Frechette

Resolving Differences in Willingness to Pay and Willingness to Accept pp. 255-70

Jason Shogren, Seung Y. Shin, Dermot Hayes and James B. Kliebenstein

Was the Crash of 1929 Expected? pp. 271-81

Peter Rappoport and Eugene White

Credible Disinflation with Staggered Price-Setting pp. 282-89

Laurence Ball

On Inflation and Output with Costly Price Changes: A Simple Unifying Result pp. 290-97

Roland Benabou and Jerzy Konieczny

Cointegration, Aggregate Consumption, and the Demand for Imports: A Structural Econometric Investigation pp. 298-308

Richard Clarida

The Debt Burden and Debt Maturity pp. 309-19

Alessandro Missale and Olivier Blanchard

Debt Maturity and the Deadweight Cost of Leverage: Optimally Financing Banking Firms pp. 320-31

Mark Flannery

International Comparisons of Living Standards and Tastes: A Revealed-Preference Analysis pp. 332-41

Steve Dowrick and John Quiggin

The Misperception of Walras pp. 342-52

Beat Bürgenmeier

Does the Human-Capital/Educational-Sorting Debate Matter for Development Policy? pp. 353-58

Kevin Lang