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American Economic Review

1969 - 2019

Current editor(s): Esther Duflo

From American Economic Association
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Volume 72, issue 5, 1982

Microeconomic Systems as an Experimental Science pp. 923-55 Downloads
Vernon Smith
Ambiguous Changes in Product Quality pp. 956-67 Downloads
Keith B Leffler
Property Rights and Efficiency in Mating, Racing, and Related Games pp. 968-79 Downloads
Dale Mortensen
Interest Rates, Income Taxes, and Anticipated Inflation pp. 980-91 Downloads
Joe Peek
Disequilibrium Dynamics: An Empirical Study pp. 992-1004 Downloads
Seiichi Kawasaki, John McMillan and Klaus Zimmermann
Contracting Problems and Regulation: The Case of the Fishery pp. 1005-22 Downloads
Ronald N Johnson and Gary Libecap
Information Costs and Incentives to Shirk: Disability Compensation of Air Traffic Controllers pp. 1023-37 Downloads
Michael E Staten and John Umbeck
A Market Equilibrium Theory of Job Assignment and Sequential Accumulation of Information pp. 1038-55 Downloads
Glenn MacDonald
The Adequacy of Savings pp. 1056-69 Downloads
Laurence Kotlikoff, Avia Spivak and Lawrence Summers
Minimum Wage Effects on Training on the Job pp. 1070-87 Downloads
Masanori Hashimoto
Price Dynamics Based on the Adjustment of Firms pp. 1088-96 Downloads
Hugo Sonnenschein
Equilibrium Growth of the Hierarchical Firm: Shareholder-Employee Cooperative Game Approach pp. 1097-1110 Downloads
Masahiko Aoki
A Model of Diffusion in the Production of an Innovation pp. 1111-20 Downloads
Michael Gort and Akira Konakayama
The Theory of Sales: A Simple Model of Equilibrium Price Dispersion with Identical Agents pp. 1121-30 Downloads
S Salop and Joseph Stiglitz
Economics Departmental Rankings: Research Incentives, Constraints, and Efficiency pp. 1131-41 Downloads
Philip Graves, James R Marchand and Randal Thompson
An Empirical Test of the Infant Industry Argument pp. 1142-52 Downloads
Anne O Krueger and Baran Tuncer
The Political Economy of Political Philosophy: Discretionary Spending by Senators on Staff pp. 1153-61 Downloads
James T Bennett and Thomas J DiLorenzo
Signal Extraction and Two Illustrations of the Quantity Theory [Two Illustrations of the Quantity Theory of Money] pp. 1162-68 Downloads
Terence C Mills
The Rationale of Apartheid [A Model of the Southern African-Type Economy] pp. 1169-79 Downloads
Mats Lundahl
Declining Industries and Political-Support Protectionist Motives pp. 1180-87 Downloads
Arye Hillman
The Changing Cyclical Behavior of Wages and Prices, 1890-1976: Comment pp. 1188-90 Downloads
James E Price
The Changing Cyclical Behavior of Wages and Prices, 1890-1976: Reply pp. 1191-93 Downloads
Jeffrey Sachs
An Alternative Test of the Capital Asset Pricing Model: Comment pp. 1194-95 Downloads
Stuart M Turnbull and Ralph Winter
An Alternative Test of the Capital Asset Pricing Model: Comment pp. 1196-1200 Downloads
R J Sweeney
An Alternative Test of the Capital Asset Pricing Model: Reply pp. 1201-07 Downloads
Pao L Cheng and Robert R Grauer
The Deviation of Prices from Labor Values pp. 1208-12 Downloads
Wilfried Parys

Volume 72, issue 4, 1982

The Decline in Black Teenage Employment: 1950-70 pp. 621-38 Downloads
John F Cogan
Applied Fairness Theory and Rationing Policy pp. 639-51 Downloads
William Baumol
Towards an Understanding of Market Processes: Individual Expectations, Learning, and Convergence to Rational Expectations Equilibrium pp. 652-68 Downloads
Roman Frydman
Welfare Measurement-A Synthesis pp. 669-82 Downloads
G W McKenzie and I F Pearce
The General Validity of the Heckscher-Ohlin Theorem pp. 683-94 Downloads
Alan Deardorff
Sharecropping and the Interlinking of Agrarian Markets pp. 695-715 Downloads
Avishay Braverman and Joseph Stiglitz
The Importance of Lifetime Jobs in the U.S. Economy pp. 716-24 Downloads
Robert Hall
Accumulation of Property by Southern Blacks before World War I pp. 725-37 Downloads
Robert Higgs
The Price of Oil and World Inflation and Recession pp. 738-51 Downloads
Michael Darby
Obsolescence of Knowledge and Career Publication Profiles: Some Evidence of Differences among Fields in Costs of Interrupted Careers pp. 752-68 Downloads
John McDowell
Inventories, Layoffs, and the Short-Run Demand for Labor pp. 769-87 Downloads
Robert Topel
Does Anticipated Aggregate Demand Policy Matter? Further Econometric Results pp. 788-802 Downloads
Frederic Mishkin
Market Opportunities, Genetic Endowments, and Intrafamily Resource Distribution: Child Survival in Rural India pp. 803-15 Downloads
Mark Rosenzweig and T. Schultz
Durability, Market Structure, and New-Used Goods Models pp. 816-24 Downloads
Stan Liebowitz
Predatory Pricing by a Quantity-Setting Multiproduct Firm pp. 825-28 Downloads
Manfred Neumann
Sex Discrimination in Faculty Salaries: Evidence from a Historically Women's University pp. 829-35 Downloads
Barry Hirsch and Karen Leppel
A Direct Test of the "Lemons" Model: The Market for Used Pickup Trucks pp. 836-40 Downloads
Eric Bond
Expected Inflation, Taxation, and Interest Rates: The Delusion of Fiscal Illusion pp. 841-45 Downloads
Michael Melvin
On the Method of Taxation and the Provision of Local Public Goods: Comment pp. 846-51 Downloads
Robin Boadway
On The Method of Taxation and the Provision of Local Public Goods: Reply pp. 852-53 Downloads
David Starrett
Inflationary Expectations, Economic Activity, Taxes, and Interest Rates: Comment pp. 854-57 Downloads
Milton Ezrati
Inflationary Expectations, Economic Activity, Taxes, and Interest Rates: Comment pp. 858-59 Downloads
J Lew Silver and James S Fackler
Inflationary Expectations, Economic Activity, Taxes, and Interest Rates: Reply pp. 860-63 Downloads
Vito Tanzi
Do Union Members Receive Compensating Wage Differentials? Comment pp. 864-67 Downloads
John Barron and Dan Black
Do Union Members Receive Compensating Wage Differentials? Reply pp. 868-72 Downloads
Greg Duncan and Frank Stafford
On the Impossibility of Informationally Efficient Markets: Comment pp. 873-74 Downloads
Richard Cothren
On the Impossibility of Informationally Efficient Markets: Reply pp. 875
Sanford Grossman and Joseph Stiglitz
The Cross- Sectional Price Equation: Comment pp. 876-83 Downloads
Dean A DeRosa and Morris Goldstein
The Cross-Sectional Price Equation: Reply pp. 884-86 Downloads
Ronald P Wilder, C Glyn Williams and Davinder Singh
On the Adequacy or Inadequacy of Keynesian Balance-of-Payments Theory: A Reply pp. 887-98 Downloads
Edward A Kuska
Are [Market] Forecasts Rational? Errata pp. 899
Frederic Mishkin

Volume 72, issue 3, 1982

Basing-Point Pricing: Competitive vs. Collusive Theories pp. 289-306 Downloads
David D Haddock
The Economic Consequences of Cognitive Dissonance pp. 307-19 Downloads
George Akerlof and William T Dickens
Currency Substitution and Instability in the World Dollar Standard pp. 320-33 Downloads
Ronald McKinnon
Inventories and Sticky Prices: More on the Microfoundations of Macroeconomics pp. 334-48 Downloads
Alan Blinder
Product Differentiation Advantages of Pioneering Brands pp. 349-65 Downloads
Richard Schmalensee
The Derived Demand for Advertising: A Theoretical and Empirical Investigation pp. 366-88 Downloads
Isaac Ehrlich and Lawrence Fisher
National and International Returns to Scale in the Modern Theory of International Trade pp. 389-405 Downloads
Wilfred Ethier
Irregular Growth Cycles pp. 406-14 Downloads
Richard H Day
Adjustment Costs, Uncertainty, and the Behavior of the Firm pp. 415-27
Robert Pindyck
The Demand for Leisure and Nonpecuniary Job Characteristics pp. 428-40 Downloads
B.K. Atrostic
Backlogs and the Value of Excess Capacity in the Steel Industry pp. 441-51 Downloads
Arthur De Vany and Gail Frey
The Political Economy of Administered Protection pp. 452-66 Downloads
Joseph Finger, H Keith Hall and Douglas Nelson
The Scheduling of Consumer Activities: Work Trips pp. 467-79 Downloads
Kenneth Small
Deficient Foresight: A Troublesome Theme in Keynesian Economics pp. 480-87 Downloads
Alan Coddington
Inferences Concerning Labor Supply Behavior Based on Limited-Duration Experiments pp. 488-97 Downloads
Gary Burtless and David Greenberg
An Empirical Investigation of the Returns to Job Search pp. 498-501 Downloads
Bob Chirinko
Inflationary Expectations: Comment pp. 502-07 Downloads
Douglas W Mitchell and Herbert E Taylor
Inflationary Expectations: Reply and Further Thoughts on Inflation Uncertainty pp. 508-12 Downloads
Alex Cukierman and Paul Wachtel
The Arrow-Lind Theorem in a Continuum Economy: Note pp. 513
Peter J W N Bird
Preemptive Patenting and the Persistence of Monopoly pp. 514-26 Downloads
Richard Gilbert and David M Newbery
Retail Bank Deposits as Quasi-Fixed Factors of Production pp. 527-36 Downloads
Mark Flannery
Dependency Rates and Aggregate Savings: A New International Cross-Section Study pp. 537-44 Downloads
Rati Ram
Monetary Policy, Homeostasis, and the Transmission Mechanism pp. 545-54 Downloads
John Pippenger
Theory of the Firm in "Short-Run" Industry Equilibrium pp. 555-62 Downloads
Ronald A Heiner
Incentives and Proxies for Indexed Bond Issues: Comment pp. 563-65 Downloads
Kelly, William A,
Incentives and Proxies for Indexed Bond Issues: Reply pp. 566-68 Downloads
J. Huston McCulloch
Economic Theory of Choice and the Preference Reversal Phenomenon: A Reexamination pp. 569-74 Downloads
Werner W Pommerehne, Friedrich Schneider and Peter Zweifel
Economic Theory of Choice and the Preference Reversal Phenomenon: Reply pp. 575
David Grether and Charles Plott
Preference Reversal: Further Evidence and Some Suggested Modifications in Experimental Design pp. 576-84 Downloads
Robert Reilly
Short-Run Price Effects of the Corporate Income Tax and Implications for International Trade: Comment pp. 585-88 Downloads
Albert A Schulman
Short-Run Price Effects of the Corporate Income Tax and Implications for International Trade: Reply pp. 589
James Melvin
The Life Cycle Hypothesis and Aggregate Household Saving [Empirical Tests of the Life Cycle Hypothesis] pp. 590-96 Downloads
Lars Soderstrom
Journals as Shared Goods: Comment pp. 597-602 Downloads
Stan Liebowitz and Stephen E Margolis
Journals as Shared Goods: Reply pp. 603-07 Downloads
J A Ordover and R D Willig

Volume 72, issue 2, 1982

The Economists and the Problem of Monopoly pp. 1-11
George Stigler
Recent Developments in Oligopoly Theory pp. 12-17 Downloads
Avinash Dixit
Imperfect Information, Monopolistic Competition, and Public Policy pp. 18-23 Downloads
Alan Schwartz and Louis L Wilde
Antitrust and the New Industrial Economics pp. 24-28 Downloads
Richard Schmalensee
Financial Innovation-The Conflict between Micro and Macro Optimality pp. 29-34 Downloads
Thomas Mayer
The Short-Run Demand for Money: A New Look at an Old Problem pp. 35-39 Downloads
George Akerlof
On the Adequacy of Policy Instruments and Information When the Meaning of Money Is Changing pp. 40-44 Downloads
Donald D Hester
Can We Sterilize? Theory and Evidence pp. 45-50 Downloads
Maurice Obstfeld
Activist Policy in the Open Economy pp. 51-55 Downloads
Robert Flood
Stabilization Policies in the World Economy: Scope and Skepticism pp. 56-61 Downloads
Jeffrey Sachs
The Role and Responsibilities of the Economist in Government pp. 62-66 Downloads
Charles L Schultze
Government and Inflation pp. 67-71 Downloads
Richard Lipsey
The Failure of Education as an Economic Strategy pp. 72-76 Downloads
Lester Thurow
Establishing Credibility: Strategic Considerations pp. 77-80 Downloads
Thomas Schelling
Establishing Credibility: A Rational Expectations Viewpoint pp. 81-85 Downloads
John Taylor
Credibility and Demand Restraint pp. 86-89 Downloads
Val Koromzay
In Defense of the Credibility Hypothesis pp. 90-91 Downloads
William Fellner
The Prisoners' Dilemma in the Invisible Hand: An Analysis of Intrafirm Productivity pp. 92-97 Downloads
Harvey Leibenstein
The Field Network Evaluation Studies of Intergovernmental Grants: A Contrast with the Orthodox Economic Approach pp. 98-102 Downloads
V Lane Rawlins and Richard P Nathan
"Optimizing" in Households, toward a Behavioral Theory pp. 103-08 Downloads
Ruth P Mack and T James Leigland
Congress as the pp. 109-13 Downloads
Mark J Moran and Barry Weingast
An Evaluation of Economists' Influence on Electric Utility Rate Reforms pp. 114-19
Jan Paul Acton
Implementing Marketable Emissions Permits pp. 120-24 Downloads
Roger Noll
The Economics Curriculum in the United States: 1980 pp. 125-38 Downloads
John Siegfried and James Wilkinson
The Economics Major: What It Is and What It Should Be: Panel Discussion pp. 139
Robert Solow
The Economics Major: What It Is and What It Should Be: Panel Discussion pp. 139-40 Downloads
D. Johnson
The Economics Major: What It Is and What It Should Be: Panel Discussion pp. 140-41
Robert J Lampman
The Economics Major: What It Is and What It Should Be: Panel Discussion pp. 141-42
Bernard Saffron
Stagflation and the Political Economy of the Decline in Productivity pp. 143-48
Mancur Olson
Inflation and the Productivity Decline pp. 149-54 Downloads
Peter Clark
Redistribution, Growth, and Political Stability pp. 155-59 Downloads
Dennis Mueller
Obstables to Economic Parity for Women pp. 160-65 Downloads
Nancy S Barrett
Equal Credit Opportunity: Women and Mortgage Credit pp. 166-70 Downloads
Helen Ladd
The Impact of Equal Opportunity Policy on Sex Differentials in Earnings and Occupations pp. 171-75 Downloads
Andrea H Beller
The Economic Case for Limits to Government pp. 176-83 Downloads
Robert P Inman
Did Proposition 13 Slay Leviathan? pp. 184-90 Downloads
Perry Shapiro and Jon Sonstelie
Government and Health Outcomes pp. 191-95 Downloads
Michael Grossman
Government and the Regulation of Hospital Care pp. 196-201 Downloads
Frank Sloan
Government and the Financing of Health Care pp. 202-07
Gail R Wilensky
Cost Effectiveness and Cost-Benefit Analysis of Air Quality Regulations pp. 208-13 Downloads
Lewis J Perl and Frederick C Dunbar
The Importance of Exposure in Evaluating and Designing Environmental Regulations: A Case Study pp. 214-19
Albert L Nichols
Evaluating the Costs and Benefits of Appliance Efficiency Standards pp. 220-25 Downloads
Jerry Hausman and Paul Joskow
What] Another Minimum Wage Study? pp. 226-32
Mary Eccles and Richard Freeman
Employment Statistics: The Interaction of Economics and Policy pp. 233-36 Downloads
Orley Ashenfelter and Gary Solon
The Interaction between Research and Policy: The Case of Unemployment Insurance pp. 237-41
Daniel Hamermesh
How Fast Should We Graze the Global Commons? pp. 242-46 Downloads
William Nordhaus
Risks, Costs, and Benefits of Fluorocarbon Regulation pp. 247-50
Martin J Bailey
Carbon Dioxide and Intergenerational Choice pp. 251-56 Downloads
Ralph d'Arge, William D Schulze and David Brookshire
Mitigating Strategies for Carbon Dioxide Problems pp. 257-61 Downloads
Lester Lave
Environmental Indivisibilities and Information Costs: Fanaticism, Agnosticism, and Intellectual Progress pp. 262-66 Downloads
Mancur Olson
The International Response to the Threat of Chlorofluorocarbons to Atmospheric Ozone pp. 267-72 Downloads
Thomas E Downing and Robert W Kates
Prospects for Reforming Federal Pay pp. 273-77 Downloads
Sharon P Smith
Sources of Growth in Local Government Employment: California, 1964-78 pp. 278-82 Downloads
Frank Levy, Dale Shimasaki and Bonnie Berk
Pension Wealth of Government and Private Sector Workers pp. 283-87
Joseph Quinn
Issues in Measuring the Level of Government Economic Activity pp. 288-95 Downloads
George F Break
Federal Government Deficits: Some Myths and Realities pp. 296-303 Downloads
Michael J Boskin
Labor-Market Experience of the Almost Old and the Implications for Income Support pp. 304-08 Downloads
Richard Burkhauser and John A Turner
Guns vs. Canes: The Fiscal Implications of an Aging Population pp. 309-13 Downloads
Barbara Boyle Torrey
Real Income and Wealth of the Elderly pp. 314-18 Downloads
Michael Hurd and John B Shoven
Imports and the Future of the U.S. Automobile Industry pp. 319-23 Downloads
Gomez-Ibanez, Jose A and Harrison, David,
The Cost of Automobile Safety and Emissions Regulation to the Consumer: Some Preliminary Results pp. 324-27 Downloads
Robert W Crandall, Theodore E Keeler and Lester Lave
Differentiated Regulation: The Case of Auto Emissions Standards pp. 328-31 Downloads
Howard K Gruenspecht
U.S. Automotive Emissions Controls: How Well Are They Working? pp. 332-35 Downloads
Lawrence White
American Government Expenditures: A Historical Perspective pp. 336-40 Downloads
Douglass North and John Joseph Wallis
The Welfare State and Long-Term Economic Growth: Marxian, Neoclassical, and Keynesian Approaches pp. 341-45 Downloads
Herbert Gintis and Samuel Bowles
Taxes and the Size of Government pp. 346-50 Downloads
Benjamin Ward
The Political Economy of Budget Choices: A View from Congress pp. 351-55 Downloads
Alice M Rivlin
Organizing Economic Advice to the President: A Modest Proposal pp. 356-60 Downloads
Roger B Porter
Rules, Discretion, and Reality pp. 361-66 Downloads
Stephen M Goldfeld
Institutionalizing Majority Rule: A Social Choice Theory with Policy Implications pp. 367-71 Downloads
Kenneth A Shepsle and Barry Weingast
Targeting Transfers through Restrictions on Recipients pp. 372-77 Downloads
Albert L Nichols and Richard Zeckhauser
Cracks on the Demand Side: A Year of Crisis in Theoretical Macroeconomics pp. 378-81 Downloads
Edmund Phelps
Beyond Demand and Supply Curves in Macroeconomics pp. 382-89 Downloads
Thomas Sargent
Macroeconomics of Stagflation under Flexible Exchange Rates pp. 390-95 Downloads
Pentti J K Kouri

Volume 72, issue 1, 1982

Contestable Markets: An Uprising in the Theory of Industry Structure pp. 1-15
William Baumol
The Theory of Trade in Middle Products pp. 16-31 Downloads
Kalyan K Sanyal and Ronald W Jones
Capital Fixity, Innovations, and Long-Term Contracting: An Intertemporal Economic Theory of Regulation pp. 32-46 Downloads
Robert Ekelund and Richard S Higgins
Barriers to Entry pp. 47-57 Downloads
Harold Demsetz
Competitive Market Institutions: Double Auctions vs. Sealed Bid-Offer Auctions pp. 58-77 Downloads
Smith, Vernon L, et al
Efficient Rules in Highway Safety and Sports Activity pp. 78-90 Downloads
Donald Wittman
An Economic Model of the Brain Drain pp. 91-100 Downloads
Viem Kwok and Hayne Leland
Social Insurance and Consumption: An Empirical Inquiry pp. 101-13 Downloads
Daniel Hamermesh
The Schumpeterian Tradeoff Revisited pp. 114-32
Richard Nelson and Sidney Winter
Veteran Status as a Screening Device pp. 133-42 Downloads
Dennis De Tray
Inflation Expectations and the Demand for Housing pp. 143-53
Robert M Schwab
Inflation, Housing Costs, and the Consumer Price Index pp. 154-64 Downloads
Ann Dougherty and Robert Van Order
Valuing Public Goods: A Comparison of Survey and Hedonic Approaches pp. 165-77 Downloads
Brookshire, David S, et al
Stochastic Dominance, Mean Variance, and Gini's Mean Difference pp. 178-85 Downloads
Shlomo Yitzhaki
Inventory Investment and the Theory of the Firm pp. 186-93 Downloads
Lanny Arvan and Leon N Moses
On Capturing Oil Rents with a National Excise Tax pp. 194-201 Downloads
Ted Bergstrom
On Barro's Theorem of Debt Neutrality: The Irrelevance of Net Wealth pp. 202-13
Jeffrey Carmichael
The Theory of Real Wage Indices pp. 214-25
David Cleeton
The Golden Rule Again: Comment [The Golden Rule with Endogenous Participation Rate] pp. 226-27
Kanhaya L Gupta and Shabany-Ghazvini, M
The Golden Rule Again: Reply [The Golden Rule with Endogenous Participation Rate] pp. 228
Larry Samuelson
The Educational Process and Student Achievement Given Uncertainty in Measurement pp. 229-36 Downloads
William Becker
Inflation and the Stock Market: Comment pp. 237-42
Irwin Friend and Joel Hasbrouck
Inflation and the Stock Market: Reply pp. 243-46 Downloads
Martin Feldstein
The Output Distribution Frontier: A Comment and Further Consideration [The Output Distribution Frontier: Alternatives to Income Taxes and Transfers for Strong Equality Goals] pp. 247-55
Hamlen, William A,
Welfare and Collusion: Comment [Information, Entry, and Welfare: The Case for Collusion] pp. 256-58 Downloads
Kari Bullock and Sumner La Croix
Welfare and Collusion: Comment [Information, Entry, and Welfare: The Case for Collusion] pp. 259-64 Downloads
Oliver Grawe and Thomas Overstreet
Welfare and Collusion: Comment [Information, Entry, and Welfare: The Case for Collusion] pp. 265-67 Downloads
Koller, Roland H,
Welfare and Collusion: Comment [Information, Entry, and Welfare: The Case for Collusion] pp. 268-71 Downloads
Don E Waldman
Welfare and Collusion: Comment [Information, Entry, and Welfare: The Case for Collusion] pp. 272-75 Downloads
Philip L Williams
Welfare and Collusion: Reply [Information, Entry, and Welfare: The Case for Collusion] pp. 276-81 Downloads
Donald Dewey
A Theory and Test of Credit Rationing: Some Further Results: Errata pp. 282
Enrique R Arzac, Robert A Schwartz and David K Whitcomb
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