American Economic Review

1969 - 2025

Current editor(s): Esther Duflo

From American Economic Association
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Volume 82, issue 5, 1992

The Behavior of Worker Cooperatives: The Plywood Companies of the Pacific Northwest pp. 1083-105

Ben Craig and John Pencavel

Imperfect Competition and Basing-Point Pricing: Evidence from the Softwood Plywood Industry pp. 1106-19

Thomas W Gilligan

Examining Risk Preferences under High Monetary Incentives: Experimental Evidence from the People's Republic of China pp. 1120-41

Steven J Kachelmeier and Mohamed Shehata

Anatomy of an Experimental Political Stock Market pp. 1142-61

Robert Forsythe, Forrest Nelson, George R. Neumann and Jack Wright

The Effects of Logrolling on Congressional Voting pp. 1162-76

Thomas Stratmann

Is the Extended Family Altruistically Linked? Direct Tests Using Micro Data pp. 1177-98

Joseph Altonji, Fumio Hayashi and Laurence Kotlikoff

The Timing of Intergenerational Transfers, Tax Policy, and Aggregate Savings pp. 1199-220

David Altig and Steven Davis

Price Cycles and Booms: Dynamic Search Equilibrium pp. 1221-33

Chaim Fershtman and Arthur Fishman

Intertemporal Prices and the U.S. Trade Balance pp. 1234-53

Michael Burda and Stefan Gerlach

An Exploration of the Eductive Justifications of the Rational-Expectations Hypothesis pp. 1254-78

Roger Guesnerie

A Fallacy of Composition pp. 1279-92

Ricardo Caballero

Research Joint Ventures and R&D Cartels pp. 1293-306

Morton I Kamien, Eitan Muller and Israel Zang

Cooperative and Noncooperative R&D in an Oligopoly with Spillovers pp. 1307-20

Kotaro Suzumura

Incentives for Conservation and Quality-Improvement by Public Utilities pp. 1321-40

Tracy Lewis and David Sappington

Interindustry Wage Differentials: Evidence from Sweden and a Comparison with the United States pp. 1341-49

Per-Anders Edin and Johnny Zetterberg

An Experimental Test of Equilibrium Dominance in Signaling Games pp. 1350-65

Jordi Brandts and Charles Holt

An Experimental Examination of Intrinsic Values as a pp. 1366-73

Boyce, Rebecca R, et al

Theory and Misbehavior of First-Price Auctions: Comment pp. 1374-78

Daniel Friedman

Theory and Misbehavior in First-Price Auctions: Comment pp. 1379-91

John Kagel and Alvin Roth

Theory and Misbehavior of First-Price Auctions: Comment pp. 1392-412

James Cox, Vernon L Smith and James Walker

Theory and Misbehavior of First-Price Auctions: Comment pp. 1413-25

Antonio Merlo and Andrew Schotter

Theory and Misbehavior of First-Price Auctions: Reply pp. 1426-43

Glenn Harrison

Volume 82, issue 4, 1992

The Institutional Structure of Production pp. 713-19

Ronald Coase

Cooperation, Conflict, and Power in the Absence of Property Rights pp. 720-39

Stergios Skaperdas

Equilibrium Product Lines: Competing Head-to-Head May Be Less Competitive pp. 740-55

Paul Klemperer

Why Is Automobile Insurance in Philadelphia So Damn Expensive? pp. 756-72

Eric Smith and Randall Wright

The Anatomy of Industry R&D Intensity Distributions pp. 773-99

Wesley M Cohen and Steven Klepper

Deposit Insurance, Regulation, and Moral Hazard in the Thrift Industry: Evidence from the 1930's pp. 800-821

Richard Grossman

Public Expenditure under Uncertainty: The Net-Benefit Criteria pp. 822-46

Daniel A Graham

Participation in a Currency Union pp. 847-63

Alessandra Casella

International Evidence of the Historical Properties of Business Cycles pp. 864-88

David Backus and Patrick Kehoe

Macroeconomic Shocks in a Dynamized Model of the Natural Rate of Unemployment pp. 889-900

Hian Teck Hoon and Edmund Phelps

The Federal Funds Rate and the Channels of Monetary Transmission pp. 901-21

Ben Bernanke and Alan Blinder

The Construction of U.S. Consumption Data: Some Facts and Their Implications for Empirical Work pp. 922-41

David Wilcox

A Sensitivity Analysis of Cross-Country Growth Regressions pp. 942-63

Ross Levine and David Renelt

Growth Accounting When Technical Change Is Embodied in Capital pp. 964-80

Charles R Hulten

Stock Price Volatility: Tests Based on the Geometric Random Walk pp. 981-92

Stephen LeRoy and William R Parke

Have Postwar Economic Fluctuations Been Stabilized? pp. 993-1005

Francis Diebold and Glenn Rudebusch

The Choice of a Conservative Central Banker in a Multisector Economy pp. 1006-12

Christopher Waller

Income Tax Deductions for Losses as Insurance pp. 1013-17

Louis Kaplow

Institutional Uncertainty and Taxpayer Compliance pp. 1018-26

James Alm, Betty Jackson and Michael McKee

Medicare Physician-Payment Reform and the Resource-Based Relative Value Scale: A Re-creation of Efficient Market Prices? pp. 1027-30

James R Baumgardner

Labor-Service Tenancy Contracts in a Latin American Context pp. 1031-42

Elisabeth Sadoulet

International Macroeconomic Policy Coordination When Policymakers Do Not Agree on the True Model: Comment pp. 1043-51

Gerald Holtham and Andrew Hughes Hallett

International Macroeconomic Policy Coordination When Policymakers Do Not Agree on the True Model: Reply pp. 1052-56

Jeffrey Frankel, Scott Erwin and Katharine Rockett

Volume 82, issue 3, 1992

Changes in the Structure of Wages in the 1980's: An Evaluation of Alternative Explanations pp. 371-92

John Bound and George Johnson

Intergenerational Income Mobility in the United States pp. 393-408

Gary Solon

Regression toward Mediocrity in Economic Stature pp. 409-29

David Zimmerman

Current Real-Business-Cycle Theories and Aggregate Labor-Market Fluctuations pp. 430-50

Lawrence Christiano and Martin Eichenbaum

The Coordination Problem and Equilibrium Theories of Recessions pp. 451-71

Larry Jones and Rodolfo Manuelli

Money, Income, Prices, and Interest Rates pp. 472-92

Benjamin M Friedman and Kenneth Kuttner

Animal Spirits pp. 493-507

Peter Howitt and Randolph McAfee

Information-Aggregation Bias pp. 508-19

Marvin Goodfriend

Target Zones and Realignments pp. 520-36

Giuseppe Bertola and Ricardo Caballero

Seigniorage and Political Instability pp. 537-55

Alex Cukierman, Sebastian Edwards and Guido Tabellini

Monitoring vis-a-vis Investigation in Enforcement of Law pp. 556-65

Dilip Mookherjee and Ivan Png

Gathering Information before Signing a Contract pp. 566-78

Jacques Crémer and Fahad Khalil

Bidding Rings pp. 579-99

Randolph McAfee and John McMillan

Renegotiation-Proof Implementation and Time Preferences pp. 600-614

Ariel Rubinstein and Asher Wolinsky

On the Theory of Piecemeal Tariff Reform: The Case of Pure Imported Intermediate Inputs pp. 615-25

Ramon Lopez and Arvind Panagariya

Trade Reform, Policy Uncertainty, and the Current Account: A Non-Expected-Utility Approach pp. 626-33

Sweder van Wijnbergen

Actions versus Prospects: The Effect of Problem Representation on Regret pp. 634-49

David W Harless

Malthus's Abandonment of Agricultural Protectionism: A Discovery in the History of Economic Thought pp. 650-59

Samuel Hollander

A Tight Upper Bound on the Money Metric Utility Function pp. 660-63

Vicki Knoblauch

Further Tests of the Separation Theorem and the Capital Asset Pricing Model pp. 664-70

Yoram Kroll and Haim Levy

Unilateral Divorce and the Labor-Force Participation Rate of Married Women, Revisited pp. 671-78

Allen M Parkman

Marriage and Divorce: Comment pp. 679-85

Douglas Allen

Marriage and Divorce: Reply pp. 687-93

Elizabeth Peters

Equilibrium Vertical Foreclosure: Comment pp. 694-97

David Reiffen

Equilibrium Vertical Foreclosure: Reply pp. 698-703

Janusz A Ordover, Garth Saloner and Steven C Salop

Volume 82, issue 2, 1992

The Postsocialist Transition and the State: Reflections in the Light of Hungarian Fiscal Problems pp. 1-21

János Kornai

The Remonetization of the Commonwealth of Independent States pp. 22-26

Samantha Carrington

Communist Economic Efficiency Revisited pp. 27-30

Abram Bergson

Spontaneous Order on the Road Back from Socialism: An Asian Perspective pp. 31-36

Ronald McKinnon

Macroeconomic Issues of Soviet Reform pp. 37-42

Stanley Fischer and Jacob Frenkel

Privatization in Russia: Some Lessons from Eastern Europe pp. 43-48

Jeffrey D Sachs

Reforming the Soviet Grain Economy: Performance, Problems, and Solutions pp. 49-54

Padma Desai

Real Exchange Rates, National Price Levels, and the Peace Dividend pp. 55-61

Jeffrey Bergstrand

Trade Conflict and Resolution Methodologies pp. 62-66

Christian E Petersen

Economic Regionalization in Western Europe: Asia-Pacific Economies (Macroeconomic Core: Microeconomic Optimization) pp. 67-73

Manoranjan Dutta

Trade Policy Options for the Asia-Pacific Region in the 1990's: The Potential of Open Regionalism pp. 74-78

Andrew Elek

Open Regionalism in the Pacific: A World of Trading Blocs? pp. 79-83

Duk-Choong Kim

Economic Geography and the Political Economy of Regionalization: The Example of Western Europe pp. 84-87

Detlef Lorenz

Fiscal Federalism and European Economic Unification pp. 88-92

Dominique Bureau and Paul Champsaur

High-Tech Competition and Industrial Restructuring in Light of the Single Market pp. 93-97

Godefroy Dang N'Guyen and Robert Owen

Regulatory Reform in the European Community pp. 98-103

Damien Neven

The Welfare and Policy Implications of the International Trade Consequences of "1992." pp. 104-08

L. Winters

Government, Trade, and Economic Integration pp. 109-14

Anne O Krueger

On Markets and Clubs: Economic and Political Integration of Regions with Unequal Productivity pp. 115-21

Alessandra Casella

Government, Trade, and Comparative Advantage pp. 122-27

Richard Clarida and Ronald Findlay

Institutions and International Trade: Lessons from the Commercial Revolution pp. 128-33

Avner Greif

Strategic Trade Policy and Mercantilist Trade Rivalries pp. 134-39

Douglas Irwin

Principal-Agent Problems in Early Trading Companies: A Tale of Two Firms pp. 140-45

Ann Carlos

The Origins of Uneven Development: The Indian Subcontinent pp. 146-50

Amitava Dutt

Slavery and Atlantic Commerce, 1650-1800 pp. 151-57

Joseph E Inikori

The Roots of Divergence: Western Economic History in Comparative Perspective pp. 158-61

Ronald Findlay

A Model of "Original Sin": Rise of the West and Lag of the Rest pp. 162-67

William Darity

External Shocks and Financial Collapse: Foreign-Loan Guarantees and Intertemporal Substitution of Investment in Texas and Chile pp. 168-73

Philip L Brock

Intertemporal Dimensions of International Economic Adjustment: Evidence from the Franco-Prussian War Indemnity pp. 174-79

Michael Gavin

Institutional and Intertemporal Influences on the Trade of Developing Countries pp. 180-85

Mark Gersovitz and Christina Paxson

Quid Pro Quo Foreign Investment pp. 186-90

Jagdish N Bhagwati, Elias Dinopoulos and Kar-yiu Wong

Optimal Income Taxation and International Personal Mobility pp. 191-96

John Wilson

Measuring International Capital Mobility: A Review pp. 197-202

Jeffrey Frankel

Is There a Consensus among Economists in the 1990's? pp. 203-09

Richard M Alston, J R Kearl and Michael B Vaughan

British Economic Opinion: Positive Science or Normative Judgment? pp. 210-15

Martin Ricketts and Edward Shoesmith

Economics and Economists: A European Perspective pp. 216-20

Bruno Frey and Reiner Eichenberger

The Shoup Tax System and the Postwar Development of the Japanese Economy pp. 221-25

Keimei Kaizuka

The Changing Japanese Economy and the Need for a Fundamental Shift in the Tax System pp. 226-30

Yukio Noguchi

The Nakasone-Takeshita Tax Reform: A Critical Evaluation pp. 231-36

Tatsuo Hatta

Taxation and Housing: Old Questions, New Answers pp. 237-42

James Poterba

Work Disincentive Effects of Taxes: A Reexamination of Some Evidence pp. 243-49

Thomas MaCurdy

Do Taxes Matter? Lessons from the 1980's pp. 250-56

Joel Slemrod

An Updated Agenda for Progressive Taxation pp. 257-62

William Vickrey

On the Design and Reform of Capital-Gains Taxation pp. 263-67

Alan Auerbach

Federal Tax Policy for the 1990's: The Prospect from the Hill pp. 268-73

Joseph J Minarik

Equity Premises and the Case for Taxing Rent pp. 274-79

Mason Gaffney

Being Just While Conceptions of Justice Are Changing pp. 280-84

T Nicolaus Tideman

Choosing Metarules for Legal Change pp. 285-89

David Friedman

Who's Afraid of the Public Debt? pp. 290-94

Willem Buiter and Kenneth Kletzer

Deficits: Which, How Much, and So What? pp. 295-98

Robert Eisner

Learning from the Reagan Deficits pp. 299-304

Benjamin M Friedman

Meaningfully Defining Deficits and Debt pp. 305-10

William Vickrey

Income Distribution, Politics, and Growth pp. 311-16

Roberto Perotti

Individuals and Institutions pp. 317-22

Andrew Caplin and Barry Nalebuff

Public-Good Provision and Political Stability in Europe pp. 323-29

Jonathan Feinstein

Macroeconomic Market Incentive Plans: History and Theoretical Rationale pp. 330-34

Kenneth J Koford and Jeffrey Miller

A Real Theory of Inflation and Incentive Anti-inflation Plans pp. 335-40

David Colander

Chock-Full Employment without Increased Inflation: A Proposal for Marketable Markup Warrants pp. 341-45

William Vickrey

Liquidity Effects and the Monetary Transmission Mechanism pp. 346-53

Lawrence Christiano and Martin Eichenbaum

The Flow Approach to Labor Markets pp. 354-59

Olivier Blanchard and Peter Diamond

Beyond the Partial-Adjustment Model pp. 360-64

Ricardo Caballero and Eduardo Engel

Business Confidence and Depression Prevention: A Mesoeconomic Perspective pp. 365-71

Yew-Kwang Ng

Continuum of Equilibria and Business Cycles: A Dynamic Model of Mesoeconomics pp. 372-78

He-ling Shi

Aggregate Supply Functions in Closed and Open Economies: A Mesoeconomic Analysis pp. 379-85

Kaludura Abayasiri-Silva

Specialization and a New Approach to Economic Organization and Growth pp. 386-91

Jeff Borland and Xiaokai Yang

Specialization and Product Diversity pp. 392-98

Xiaokai Yang and He-ling Shi

Specialization, Household Production, and the Measurement of Economic Growth pp. 399-403

John Devereux and Luis Locay

Labor Specialization and Endogenous Growth pp. 404-08

Sunwoong Kim and Hamid Mohtadi

Schumpeterian Growth and International Business Cycles pp. 409-14

Leonard K Cheng and Elias Dinopoulos

Accounting for Growth with New Inputs: Theory and Evidence pp. 415-21

Robert Feenstra, James Markusen and William Zeile

GATT, Trade, and Growth pp. 422-27

Luis Rivera-Batiz and Danyang Xie

Empirical Estimation and Partitioning of X-Inefficiency: A Data-Envelopment Approach pp. 428-33

Harvey Leibenstein and Shlomo Maital

X-Efficiency and Allocative Efficiency: What Have We Learned? pp. 434-38

Roger Frantz

Ownership Structure, Institutional Organization and Measured X-Efficiency pp. 439-45

Kenneth Button and Thomas G Weyman-Jones

Rent Regulation and Housing-Market Dynamics pp. 446-51

Carol Rapaport

A Poisson Regression Model of Highway Fatalities pp. 452-56

Ron Michener and Carla Tighe

Public Choice and the Allocation of Public Goods: An Empirical Analysis of Local School Expenditures pp. 457-63

Patricia Ann Nold

Economic Incentives for Environmental Protection: Integrating Theory and Practice pp. 464-68

Robert W Hahn and Robert N Stavins

Rates of Time Preference for Saving Lives pp. 469-72

Maureen Cropper, Sema K Aydede and Paul R Portney

Environmental Valuation under Sustainable Development pp. 473-77

Richard B Howarth and Richard B Norgaard

The Toxic Intensity of Industrial Production: Global Patterns, Trends, and Trade Policy pp. 478-81

Hemamala Hettige, Robert Lucas and David Wheeler

Trip Scheduling in Urban Transportation Analysis pp. 482-86

Kenneth A Small

The Use of Straw Men in the Economic Evaluation of Rail Transport Projects pp. 487-93

John Kain

A Game-Theoretic Approach to the Analysis of Simple Congested Networks pp. 494-500

André de Palma

Testing for Price Anomalies in Real-Estate Auctions pp. 501-05

Orley Ashenfelter and David Genesove

Joint Bidding in Federal OCS Auctions pp. 506-11

Kenneth Hendricks and Robert Porter

Updating the Reserve Price in Common-Value Auctions pp. 512-18

Randolph McAfee and Daniel Vincent

The End of a Riveting Experience: Occupational Shifts at Ford after World War II pp. 519-25

Sherrie A Kossoudji and Laura J Dresser

Gender Differences in Wage Growth and Job Mobility pp. 526-32

Pamela J Loprest

The Gender Earnings Gap: Learning from International Comparisons pp. 533-38

Francine Blau and Lawrence Kahn

The Fall in Private Pension Coverage in the United States pp. 539-45

David Bloom and Richard Freeman

Rising Inequality? Changes in the Distribution of Income and Consumption in the 1980's pp. 546-51

David Cutler and Lawrence Katz

Changing Inequality of Wealth pp. 552-58

Edward Wolff

Balancing the Economics Curriculum: Content, Method, and Pedagogy pp. 559-64

Robin L Bartlett and Susan F Feiner

Evaluating Undergraduate Courses on Women in the Economy pp. 565-69

Cecilia A Conrad

Feminist Pedagogy: A Means for Bringing Critical Thinking and Creativity to the Economics Classroom pp. 570-76

Jean Shackelford

Volume 82, issue 1, 1992

Some Economics of Global Warming pp. 1-14

Thomas C Schelling

Using Weather Variability to Estimate the Response of Savings to Transitory Income in Thailand pp. 15-33

Christina Paxson

Rural Reforms and Agricultural Growth in China pp. 34-51

Justin Lin

Poverty and Landownership pp. 52-64

Karl Ove Moene

Domino Dumping, I: Competitive Exporters pp. 65-83

James Anderson

Strategic Commercial Policy Revisited: A Supply-Function Equilibrium Model pp. 84-99

Didier Laussel

Strikes and Holdouts in Wage Bargaining: Theory and Data pp. 100-121

Peter Cramton and Joseph Tracy

Changes in the Cyclical Sensitivity of Wages in the United States, 1891-1987 pp. 122-40

Steven Allen

Prices during the Great Depression: Was the Deflation of 1930-1932 Really Unanticipated? pp. 141-56

Stephen Cecchetti

Was the Deflation during the Great Depression Anticipated? Evidence from the Commodity Futures Market pp. 157-78

James D Hamilton

Optimal Inflation Tax under Precommitment: Theory and Evidence pp. 179-94

Guillermo Calvo and Leonardo Leiderman

On the Prevalence of Labor Contracts with Fixed Duration pp. 195-206

Leif Danziger

Expectation Calculation and Macroeconomic Dynamics pp. 207-24

George Evans and Garey Ramey

Causation, Spending, and Taxes: Sand in the Sandbox or Tax Collector for the Welfare State? pp. 225-48

Kevin D Hoover and Steven M Sheffrin

Workfare versus Welfare Incentive Arguments for Work Requirements in Poverty-Alleviation Programs pp. 249-61

Timothy Besley and Stephen Coate

Convergence of the South and Non-South Income Distributions, 1969-1979 pp. 262-72

John A Bishop, John P Formby and Paul D Thistle

Optimal Commitment in Monetary Policy: Credibility versus Flexibility pp. 273-86

Susanne Lohmann

Search Technology, Staggered Price-Setting, and Price Dispersion pp. 287-98

Arthur Fishman

Private-Sector Training and the Earnings of Young Workers pp. 299-312

Lisa Lynch

Unemployment Duration: Compositional Effects and Cyclical Variability pp. 313-21

Michael Baker

The Importance of Lifetime Jobs in the U.S. Economy, Revisited pp. 322-35

Manuelita Ureta

Employment Tenure and Earnings Profiles in Japan and the United States: Comment pp. 336-45

Robert L Clark and Naohiro Ogawa

Employment Tenure and Earnings Profiles in Japan and the United States: Reply pp. 346-54

Masanori Hashimoto and John Raisian

Fairness as a Constraint on Profit Seeking: Comment pp. 355-58

Raymond F Gorman and James B Kehr

Strategic Behavior in Contests: Comment pp. 359-62

Kyung Baik and Jason Shogren

Real Effects of Academic Research: Comment pp. 363-67

Zoltan Acs, David Audretsch and Maryann P Feldman

The Origin of Predictable Behavior: Comment pp. 368

Ciaran Driver

Erratum: Standards versus Standards: The Effects of Different Pollution Restrictions pp. 369

Gloria E Helfand