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American Economic Review

1969 - 2018

Current editor(s): Esther Duflo

From American Economic Association
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Volume 75, issue 6, 1985

On Method in U.S. Economics a Century Earlier pp. 1-12
William Baumol
Early American Leaders-Institutional and Critical Traditions pp. 13-27 Downloads
Martin Bronfrenbrenner
Neoclassical Theory in America: J. B. Clark and Fisher pp. 28-38 Downloads
James Tobin
Early Progress in Estimating Quantitative Economic Relationships in America pp. 39-52 Downloads
Carl Christ
The Expanding Domain of Economics pp. 53-68 Downloads
Jack Hirshleifer

Volume 75, issue 5, 1985

New Estimates of the Value of Federal Mineral Rights and Land pp. 923-36 Downloads
Boskin, Michael J, et al
The Simple Macroeconomics of Profit Sharing pp. 937-53 Downloads
Martin Weitzman
OPEC Behavior: A Test of Alternative Hypotheses pp. 954-63 Downloads
James M Griffin
Further Results on Inventories and Price Stickiness pp. 964-75 Downloads
Richard Ashley and Daniel Orr
Costly Employment Contract Renogotiation and the Labor Mobility of Young Men pp. 976-91 Downloads
John J Antel
The Demand for and Supply of Births: Fertility and Its Life Cycle Consequences pp. 992-1015 Downloads
Mark Rosenzweig and T. Schultz
Earnings, Schooling, Ability, and Cognitive Skills pp. 1016-30 Downloads
M Boissiere, John Knight and R H Sabot
The Labor Contract and True Economic Pension Liabilities pp. 1031-43 Downloads
Richard A Ippolito
Rationing without Government: The West Coast Gas Famine of 1920 pp. 1044-55 Downloads
Alan Olmstead and Paul Rhode
Monetary Policy Games and the Role of Private Information pp. 1056-70 Downloads
Matthew Canzoneri
The Relevance of Quasi Rationality in Competitive Markets pp. 1071-82 Downloads
Thomas Russell and Richard Thaler
Efficient Adaptation in Long-term Contracts: Take-or-Pay Provisions for Natural Gas pp. 1083-93 Downloads
Scott Masten and Keith J Crocker
Mines and Migrants in South Africa pp. 1094-1108 Downloads
Robert Lucas
Competition and Unanimity Revisited, Again pp. 1109-14 Downloads
Clement G Krouse
Inflation, Real Balances, Output, and Real Stock Returns [Stock Returns, Real Activity, Inflation, and Money] pp. 1115-23 Downloads
Jason Benderly and Burton Zwick
The Cyclical Sensitivity of Wages [The Changing Cyclical Behavior of Wages and Prices: 1890-1976] [Cross-Country and Cross-Temporal Differences in Inflation Responsiveness] pp. 1124-32 Downloads
Anthony O'Brien
The Implications of Spillover for the Design of Monetary Policy: An Empirical Analysis of Income and Price Determination in Nonclearing Markets pp. 1133-42 Downloads
J David Ferguson and William R Hart
The Effect of Increased Longevity on Capital Accumulation pp. 1143-50 Downloads
Jonathan Skinner
Purchasing Power Parity Did Not Collapse during the 1970's pp. 1151-58 Downloads
Nurhan Davutyan and John Pippenger
Speeding, Coordination, and the 55 MPH Limit pp. 1159-64 Downloads
Charles A Lave
Identification by Disaggregation pp. 1165-67 Downloads
Matthew J Cushing and Mary G McGarvey
Race, Recent Entry, and Labor Market Participation pp. 1168-77 Downloads
Eugene Silberberg
Testing Noncooperative Bargaining Theory: A Preliminary Study pp. 1178-80 Downloads
K Binmore, A Shaked and J Sutton
Did the United States Transmit the Great Depression to the Rest of the World? pp. 1181-85 Downloads
Gertrud M Fremling
Technology and Hedging Behavior: A Proof of Hicks' Conjecture pp. 1186-90 Downloads
Maureen O'Hara
Equilibrium Price Dispersion [The Theory of Sales: A Simple Model of Equilibrium Price Dispersion with Identical Agents] pp. 1191-94 Downloads
William Hallagan and Wayne Joerding
The Quality of Schooling: Comment pp. 1195-1201 Downloads
Peter J Eaton
The Quality of Schooling: Reply pp. 1202-05 Downloads
Jere Behrman and Nancy Birdsall
The Economics of Performing Shakespeare: Comment pp. 1206-09 Downloads
Edwin G West
The Economics of Performing Shakespeare: Reply pp. 1210-12 Downloads
James H Gapinski
Can Unemployment Be Involuntary? Comment [Equilibrium Unemployment as a Worker Discipline Device] pp. 1213-14 Downloads
Lorne Carmichael
Can Unemployment Be Involuntary? Reply [Equilibrium Unemployemnt as a Worker Discipline Device] pp. 1215-17 Downloads
Carl Shapiro and Joseph Stiglitz

Volume 75, issue 4, 1985

Animals' Choices over Uncertain Outcomes: Some Initial Experimental Results pp. 597-613 Downloads
Raymond Battalio, John Kagel and Don N MacDonald
Unemployment Rate Dynamics and Persistent Unemployment under Rational Expectations pp. 614-37 Downloads
Michael Darby, John Haltiwanger and Mark W Plant
Labor and Output over the Business Cycle: Some Direct Evidence pp. 638-55 Downloads
Jon A Fay and James Medoff
An Economic Interpretation of the History of Congressional Voting in the Twentieth Century pp. 656-75
Sam Peltzman
Short-run Equilibrium Dynamics of Unemployment Vacancies, and Real Wages pp. 676-90 Downloads
Christopher Pissarides
International Trade and Labor Migration pp. 691-707 Downloads
Wilfred Ethier
Can Small Deviations from Rationality Make Significant Differences to Economic Equilibria? pp. 708-20 Downloads
George Akerlof and Janet Yellen
Employment Tenure and Earnings Profiles in Japan and the United States pp. 721-35 Downloads
Masanori Hashimoto and John Raisian
Notches pp. 736-47 Downloads
Alan Blinder and Harvey Rosen
Searching for Leviathan: An Empirical Study pp. 748-57 Downloads
Wallace Oates
Industry Structure with Fluctuating Demand pp. 758-67 Downloads
David Mills and Laurence Schumann
Modeling the Formation of Price Expectations: A Bayesian Approach pp. 768-76 Downloads
John Caskey
Precautionary Saving and Accidental Bequests pp. 777-91 Downloads
Andrew Abel
A Test of Dual Labor Market Theory pp. 792-805 Downloads
William T Dickens and Kevin Lang
Unbalanced Growth Revisited: Asymptotic Stagnancy and New Evidence pp. 806-17 Downloads
William Baumol, Sue Anne Batey Blackman and Edward Wolff
Labor Market Costs of Language Disparity: An Interpretation of Hispanic Earnings Differences pp. 818-27 Downloads
Walter McManus
Equilibrium Relationships between Money and Other Economic Variables pp. 828-35 Downloads
James Lothian
The Market for "Lemons" Reconsidered: A Model of the Used Car Market with Asymmetric Information pp. 836-43 Downloads
Jae-Cheol Kim
A Note on the General Validity of the Heckscher-Ohlin Theorem pp. 844-49 Downloads
Helmut Forstner
Screening vs. Rationing in Credit Markets with Imperfect Information pp. 850-55 Downloads
Helmut Bester
The Conformity of Wage-Indexation Models with "Stylized Facts." pp. 856-61 Downloads
Gary Fethke
Auctions with Contingent Payments pp. 862-65 Downloads
Robert G Hansen
Inconsistent Equilibrium Constructs: The Evenly Rotating Economy of Mises and Rothbard pp. 866-69 Downloads
Tyler Cowen and Richard Fink
Price Discrimination and Social Welfare pp. 870-75 Downloads
Hal Varian
Controlling Contradictions among Regulations: Note pp. 876-77 Downloads
Chris T Hendrickson and Francis Clay McMichael
Fair Outcome-Fair Process [Applied Fairness Theory and Rationing Policy] pp. 878-80 Downloads
Robert Piron
Another Look at Free Banking in the United States [New Evidence on the Free Banking Era] pp. 881-85 Downloads
James Kahn
New Evidence on Free Banking in the United States [New Evidence on the Free Banking Era] pp. 886-89 Downloads
Hugh Rockoff
Eqilibrium Unemployment as a Worker Discipline Device: Comment pp. 890-91 Downloads
Clive Bull
Equilibrium Unemployment as a Worker Discipline Device: Reply pp. 892-93 Downloads
Carl Shapiro and Joseph Stiglitz
Capacity, Output, and Sequential Entry: Comment pp. 894-96 Downloads
Stanley S Reynolds
Capacity, Output, and Sequential Entry: Reply pp. 897-98 Downloads
Daniel Spulber

Volume 75, issue 3, 1985

What Will Take the Con out of Econometrics? pp. 293-307 Downloads
Michael McAleer, Adrian Pagan and Paul A Volker
Sensitivity Analyses Would Help pp. 308-13
Edward Leamer
An Experimental Test of the Consistent-Conjectures Hypothesis pp. 314-25 Downloads
Charles Holt
Rational Expectations and the Limits of Rationality: An Analysis of Heterogeneity pp. 326-40 Downloads
John Haltiwanger and Michael Waldman
Do Markets Differ Much? pp. 341-51 Downloads
Richard Schmalensee
A Theory of Contractual Structure in Agriculture pp. 352-67 Downloads
Mukesh Eswaran and Ashok Kotwal
Oil Field Unitization: Contractual Failure in the Presence of Imperfect Information pp. 368-85 Downloads
Steven N Wiggins and Gary Libecap
Anticipated Devaluations, Currency Flight, and Direct Trade Controls in a Monetary Economy pp. 386-401
Robert Feenstra
Optimal Wage Indexation, Foreign Exchange Intervention, and Monetary Policy pp. 402-23 Downloads
Joshua Aizenman and Jacob A Frenkel
Network Externalities, Competition, and Compatibility pp. 424-40 Downloads
Michael Katz and Carl Shapiro
Asymmetric Information and Collusive Behavior in Auction Markets pp. 441-60 Downloads
Jonathan Feinstein, Michael K Block and Frederick C Nold
Unemployment Duration and Incidence: 1968-82 pp. 461-72 Downloads
Hal Sider
The Advantages of Being First pp. 473-80 Downloads
Amihai Glazer
Internal Migration and Urban Employment in the Third World pp. 481-94 Downloads
William E Cole and Richard D Sanders
Accounting Rates of Return pp. 495-504 Downloads
Gerald L Salamon
Urban Land Prices under Uncertainty pp. 505-14 Downloads
Sheridan Titman
A Note on Equity and Efficiency in the Pricing of Local Telephone Services pp. 515-18 Downloads
Edward Renshaw
Women, Work, and Divorce pp. 519-23 Downloads
William Sander
Money, Anticipated Changes, and Policy Effectiveness pp. 524-29 Downloads
Richard Sheehan
Inflation and Reputation pp. 530-38 Downloads
David Backus and Edward Driffill
The Competitive Effects of Vertical Agreements? pp. 539-46 Downloads
William S Comanor and Harry Frech
Enlistments in the All-Volunteer Force: Note pp. 547-51 Downloads
Charles Dale and Curtis Gilroy
Is There an Operational Interest Rate Rule? pp. 552-56 Downloads
Michael Dotsey
U.S. Monetary Policy and the Exchange Rate: Comment [A Critical Appraisal of McKinnon's World Money Supply Hypothesis] pp. 557-59 Downloads
Steven Ambler and Ronald McKinnon
U.S. Monetary Policy and the Exchange Rate: Reply [A Critical Appraisal of McKinnon's World Money Supply Hypothesis] pp. 560-61 Downloads
Henry N Goldstein and Stephen E Haynes
The Money Supply Announcements Puzzle: Comment pp. 562-64 Downloads
Barry Falk and Peter Orazem
The Money Supply Announcements Puzzle: Reply pp. 565-66 Downloads
Bradford Cornell
Fisher's Paradox: Comment [Fisher's Paradox and the Theory of Interest] pp. 567-68 Downloads
Patrick Honohan
Fisher's Paradox: Reply [Fisher's Paradox and the Theory of Interest] pp. 569-70 Downloads
Jeffrey Carmichael and Peter W Stebbing
Predictable Behavior: Comment [The Origin of Predictable Behavior] pp. 571-75 Downloads
Richard Bookstaber and Joseph Langsam
Predictable Behavior: Comment [The Origin of Predictable Behavior] pp. 576-78 Downloads
Roger W Garrison
Predictable Behavior: Reply [The Origin of Predictable Behavior] pp. 579-85 Downloads
Ronald A Heiner

Volume 75, issue 2, 1985

Economics in Theory and Practice pp. 1-14
Alec Cairncross
Post-entry Competition in the Plain Paper Copier Market pp. 15-19 Downloads
Timothy Bresnahan
R&D Appropriability, Opportunity, and Market Structure: New Evidence on Some Schumpeterian Hypotheses pp. 20-24 Downloads
Richard C Levin, Wesley M Cohen and David C Mowery
Patent Licensing and R&D Rivalry pp. 25-30 Downloads
Carl Shapiro
Nominal Wage-Price Rigidity as a Rational Expectations Equilibrium pp. 31-35 Downloads
Costas Azariadis and Russell Cooper
Wage Flexibility in the United States: Lessons from the Past pp. 36-40 Downloads
Daniel J B Mitchell
Profit Sharing as Macroeconomic Policy pp. 41-45 Downloads
Martin Weitzman
The Regulatory Transition pp. 46-51 Downloads
John R Meyer and William B Tye
"Let Them Make Toll Calls": A State Regulator's Lament pp. 52-56 Downloads
Roger Noll
Intercity Transportation Route Structures under Deregulation: Some Assessments Motivated by the Airline Experience pp. 57-61 Downloads
Steven A Morrison and Clifford Winston
Macroeconomic Stability and Flexible Exchange Rates pp. 62-67 Downloads
John Bilson
Reflections on the Exchange Rate System pp. 68-73
J Carter Murphy
On the System in Bretton Woods pp. 74-79 Downloads
John Williamson
Computer Applications in Pre-college Economics pp. 80-84 Downloads
John M Sumansky
Macro Simulations for PCs in the Classroom pp. 85-90 Downloads
Karl Case and Ray Fair
Cost Effectiveness of Computer-assisted Economics Instruction pp. 91-96 Downloads
Darrell R Lewis, Bruce R Dalgaard and Carol M Boyer
Legislative Construction of the Monetary Control Act of 1980 pp. 97-102 Downloads
Timberlake, Richard H,
Deregulation and Monetary Reform pp. 103-07 Downloads
Leland B Yeager
Speculation, Deregulation, and the Interest Rates pp. 108-13 Downloads
Leonard A Rapping and Lawrence B Pulley
1985 Projections of the New York Metropolitan Region Study pp. 114-19 Downloads
Dick Netzer
Long-term Forecasts in International Economics pp. 120-26 Downloads
William Cline
The Economic Thought of George Orwell pp. 127-32 Downloads
Jennifer Roback
Hamlet without the Prince: Cambridge Macroeconomics without Money pp. 133-39 Downloads
Jan Kregel
Cambridge Price Theory: Special Model or General Theory of Value? pp. 140-45 Downloads
Bertram Schefold
Joan Robinson's Critique of Equilibrium: An Appraisal pp. 146-49 Downloads
E Roy Weintraub
Auction Theory with Private Values pp. 150-55 Downloads
Eric Maskin and Joan G Riley
Empirical Testing of Auction Theory pp. 156-59 Downloads
Robert G Hansen
Experimental Development of Sealed-Bid Auction Theory: Calibrating Controls for Risk Aversion pp. 160-65 Downloads
James Cox, Vernon Smith and James Walker
Modes of Thought in Economics and Biology pp. 166-72 Downloads
Paul Samuelson
The New Economics of Labor Migration pp. 173-78 Downloads
Oded Stark and David Bloom
New Evidence on the Timing and Spacing of Births pp. 179-84 Downloads
James Heckman, V. Joseph Hotz and James Walker
International Debt: From Crisis to Recovery? pp. 185-90 Downloads
William Cline
Latin American Debt: Lessons and Pending Issues pp. 191-95
Eduardo Wiesner
Data and Econometricians-The Uneasy Alliance pp. 196-200 Downloads
Zvi Griliches
The Loss Function Has Been Mislaid: The Rhetoric of Significance Tests pp. 201-05 Downloads
Deirdre McCloskey
Macroeconometric Modeling and the Theory of the Representative Agent pp. 206-10 Downloads
John Geweke
An Integrated Accounting Matrix for Canada and the United States pp. 211-16 Downloads
Jacob Cohen and Steven Husted
Modeling U.S.-Mexico Economic Linkages pp. 217-22 Downloads
Clark W Reynolds and Robert K McCleery
New Developments in Project LINK pp. 223-27 Downloads
Lawrence Klein
The Influence of Hymer's Dissertation on the Theory of Foreign Direct Investment pp. 228-32
John H Dunning and Alan Rugman
Multinational Enterprise, Internal Governance, and Industrial Organization pp. 233-38 Downloads
David Teece
Hymer and Public Policy in LDCs pp. 239-44
Donald J Lecraw
Religion and the Earnings Function pp. 245-50 Downloads
Nigel Tomes
Cultural Differences in Labor Force Participation among Married Women pp. 251-55 Downloads
Cordelia W Reimers
Peddlers Forever? Culture, Competition, and Discrimination pp. 256-61
William Darity and Rhonda M Williams
Women Production Workers: Low Pay and Hazardous Work pp. 262-65 Downloads
Janis Barry
Executive Compensation: Female Executives and Networking pp. 266-70 Downloads
Robin L Bartlett and Timothy I Miller
Longitudinal Changes at a Large Public University: What Response to Equal Pay Legislation? pp. 271-74 Downloads
Sharon Bernstein Megdel and Michael Ransom
Sex Role Socialization and Labor Market Outcomes pp. 275-78 Downloads
Mary E Corcoran and Paul Courant
Pacific Protagonist-Implications of the Rising Role of the Pacific pp. 279-84
Staffan Burenstam Linder
Is There Need for Economic Leadership? Japanese or U.S.? pp. 285-91 Downloads
W W Rostow
Human Fallibility and Economic Organization pp. 292-97 Downloads
Raaj Sah and Joseph Stiglitz
Learning from Experience in Organizations pp. 298-302 Downloads
Scott R Herriott, Daniel Levinthal and James G March
Informational Structure of the Firm pp. 303-07 Downloads
Kenneth Arrow
State and Industry in France, 1750-1914 pp. 308-14
Caglar Keyder
French Industrial Policy under the Socialist Government pp. 315-19 Downloads
Bela Balassa
Economic History: A Necessary Thought Not Sufficient Condition for an Economist: Maine and Texas pp. 320-23 Downloads
Kenneth Arrow
Is History Stranger than Theory? The Origin of Telephone Separations pp. 324-27 Downloads
Peter Temin and Geoffrey Peters
Economic History and Economics pp. 328-31 Downloads
Robert Solow
Clio and the Economics of QWERTY pp. 332-37 Downloads
Paul David
Portfolio Choice and the Debt-to-Income Relationship pp. 338-43 Downloads
Benjamin M Friedman
Stability and Instability in the Debt-Income Relationship pp. 344-50 Downloads
Robert Pollin
Private Credit Demand, Supply, and Crunches-How Different Are the 1980's? pp. 351-56 Downloads
Albert M Wojnilower
Macroeconomic Analysis of Leading Interwar Authorities: Marriner S. Eccles, Chairman of the Federal Reserve Board pp. 357-62 Downloads
L Dwight Israelsen
Rudolf Hilferding: The Dominion of Capitalism and the Dominion of Gold pp. 363-68 Downloads
William Darity and Bobbie L Horn
Korekiyo Takahashi and Japan's Recovery from the Great Depression pp. 369-74 Downloads
Dick K Nanto and Shinji Takagi
Financial Risk and the Burden of Contracts pp. 375-80 Downloads
Herman B Leonard and Richard Zeckhauser
Are Individuals Bayesian Decision Makers? pp. 381-85 Downloads
W Viscusi
Ambiguity and Insurance Decisions pp. 386-90
Robin Hogarth and Howard Kunreuther
Origin of Predictable Behavior: Further Modeling and Applications pp. 391-96 Downloads
Ronald A Heiner
Individual Rationality, Market Rationality, and Value Estimation pp. 397-402 Downloads
Peter Knez, Vernon Smith and Arlington Williams
Knowledge, Uncertainty, and Behavior pp. 403-08 Downloads
Keith D Wilde, Allen D LeBaron and L Dwight Israelsen
The Changing Environment of Central Bank Policy pp. 409-13 Downloads
Alexandre Lamfalussy

Volume 75, issue 1, 1985

Microeconomic Efficiency and Nominal Wage Stickiness pp. 1-15
Charles L Schultze
The Production Process in a Competitive Economy: Walrasian, Neo-Hobbesian, and Marxian Models pp. 16-36 Downloads
Samuel Bowles
The Validity of Profits-Structure Studies with Particular Reference to the FTC's Line of Business Data pp. 37-67 Downloads
George J Benston
Do Large Deficits Produce High Interest Rates? pp. 68-87
Paul Evans
Transaction Costs in the Theory of Unemployment pp. 88-100 Downloads
Peter Howitt
The Demand for Unobservable and Other Nonpositional Goods pp. 101-16 Downloads
Robert Frank
Fiscal Policy and Aggregate Demand pp. 117-27 Downloads
David Aschauer
General Equilibrium Computations of the Marginal Welfare Costs of Taxes in the United States pp. 128-38 Downloads
Charles Ballard, John B Shoven and John Whalley
The Use of Protection and Subsidies for Entry Promotion and Deterrence pp. 139-52 Downloads
Avinash Dixit and Albert Kyle
A Framework for Evaluating the Effects of Economic Growth and Transfers on Poverty pp. 153-61 Downloads
Peter Gottschalk and Sheldon Danziger
A Theory of Two-Tier Labor Markets in Agrarian Economies pp. 162-77 Downloads
Mukesh Eswaran and Ashok Kotwal
The Relative Inefficiency of Quotas: The Cheese Case pp. 178-90 Downloads
James Anderson
Testing for the Effectiveness of Wage-Price Controls: An Application to the Carter Program pp. 191-207
John B Hagens and R Robert Russell
Stardom and Talent pp. 208-12 Downloads
Moshe Adler
Advertising and Economic Welfare pp. 213-18 Downloads
Len M Nichols
Oligopoly and the Incentive for Horizontal Merger pp. 219-27 Downloads
Martin K Perry and Robert Porter
Military Enlistments: What Can We Learn from Geographic Variation? pp. 228-34
Charles Brown
Paying for Public Inputs pp. 235-38 Downloads
Richard Manning, James Markusen and John McMillan
Excess Labor and the Business Cycle pp. 239-45
Ray Fair
Monopoly Unionism: Note pp. 246-49 Downloads
Daniel Leonard
Why Everything Takes 2.71828... Times as Long as Expected pp. 250-52 Downloads
Philip Musgrove
The Design of an Optimal Insurance Policy: Note pp. 253-55 Downloads
George Blazenko
A Further Comment on Preemptive Patenting and the Persistence of Monopoly pp. 256-58
Jonathan Cave
A Curse on Several Houses pp. 259
Boris P Pesek
Experimental Economics: Comment pp. 260-63 Downloads
Ronald A Heiner
Experimental Economics: Reply pp. 264-72 Downloads
Vernon Smith
Experimental Economics: Comment pp. 264
Daniel Friedman
Relative Prices, Concentration, and Money Growth: Comment pp. 273-78 Downloads
Daniel Richards
Relative Prices, Concentration, and Money Growth: Reply pp. 279-80
Henry Chappell and John Addison
Relative Risk Aversion in Comparative Statics: Comment pp. 281-83 Downloads
Eric Briys and Louis Eeckhoudt
Relative Risk Aversion in Comparative Statics: Comment pp. 284-85 Downloads
John Hey
Relative Risk Aversion in Comparative Statics: Reply pp. 286-87 Downloads
Eliakim Katz
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