American Economic Review

1969 - 2025

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

Martin Bronfrenbrenner

Neoclassical Theory in America: J. B. Clark and Fisher pp. 28-38

James Tobin

Early Progress in Estimating Quantitative Economic Relationships in America pp. 39-52

Carl Christ

The Expanding Domain of Economics pp. 53-68

Jack Hirshleifer

Volume 75, issue 5, 1985

New Estimates of the Value of Federal Mineral Rights and Land pp. 923-36

Boskin, Michael J, et al

The Simple Macroeconomics of Profit Sharing pp. 937-53

Martin Weitzman

OPEC Behavior: A Test of Alternative Hypotheses pp. 954-63

James M Griffin

Further Results on Inventories and Price Stickiness pp. 964-75

Richard Ashley and Daniel Orr

Costly Employment Contract Renogotiation and the Labor Mobility of Young Men pp. 976-91

John J Antel

The Demand for and Supply of Births: Fertility and Its Life Cycle Consequences pp. 992-1015

Mark Rosenzweig and T Paul Schultz

Earnings, Schooling, Ability, and Cognitive Skills pp. 1016-30

M Boissiere, John Knight and R H Sabot

The Labor Contract and True Economic Pension Liabilities pp. 1031-43

Richard A Ippolito

Rationing without Government: The West Coast Gas Famine of 1920 pp. 1044-55

Alan Olmstead and Paul Rhode

Monetary Policy Games and the Role of Private Information pp. 1056-70

Matthew Canzoneri

The Relevance of Quasi Rationality in Competitive Markets pp. 1071-82

Thomas Russell and Richard Thaler

Efficient Adaptation in Long-term Contracts: Take-or-Pay Provisions for Natural Gas pp. 1083-93

Scott Masten and Keith J Crocker

Mines and Migrants in South Africa pp. 1094-1108

Robert Lucas

Competition and Unanimity Revisited, Again pp. 1109-14

Clement G Krouse

Inflation, Real Balances, Output, and Real Stock Returns [Stock Returns, Real Activity, Inflation, and Money] pp. 1115-23

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

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

J David Ferguson and William R Hart

The Effect of Increased Longevity on Capital Accumulation pp. 1143-50

Jonathan Skinner

Purchasing Power Parity Did Not Collapse during the 1970's pp. 1151-58

Nurhan Davutyan and John Pippenger

Speeding, Coordination, and the 55 MPH Limit pp. 1159-64

Charles A Lave

Identification by Disaggregation pp. 1165-67

Matthew J Cushing and Mary G McGarvey

Race, Recent Entry, and Labor Market Participation pp. 1168-77

Eugene Silberberg

Testing Noncooperative Bargaining Theory: A Preliminary Study pp. 1178-80

K Binmore, A Shaked and J Sutton

Did the United States Transmit the Great Depression to the Rest of the World? pp. 1181-85

Gertrud M Fremling

Technology and Hedging Behavior: A Proof of Hicks' Conjecture pp. 1186-90

Maureen O'Hara

Equilibrium Price Dispersion [The Theory of Sales: A Simple Model of Equilibrium Price Dispersion with Identical Agents] pp. 1191-94

William Hallagan and Wayne Joerding

The Quality of Schooling: Comment pp. 1195-1201

Peter J Eaton

The Quality of Schooling: Reply pp. 1202-05

Jere Behrman and Nancy Birdsall

The Economics of Performing Shakespeare: Comment pp. 1206-09

Edwin G West

The Economics of Performing Shakespeare: Reply pp. 1210-12

James H Gapinski

Can Unemployment Be Involuntary? Comment [Equilibrium Unemployment as a Worker Discipline Device] pp. 1213-14

Lorne Carmichael

Can Unemployment Be Involuntary? Reply [Equilibrium Unemployemnt as a Worker Discipline Device] pp. 1215-17

Carl Shapiro and Joseph Stiglitz

Volume 75, issue 4, 1985

Animals' Choices over Uncertain Outcomes: Some Initial Experimental Results pp. 597-613

Raymond Battalio, John Kagel and Don N MacDonald

Unemployment Rate Dynamics and Persistent Unemployment under Rational Expectations pp. 614-37

Michael Darby, John C Haltiwanger and Mark W Plant

Labor and Output over the Business Cycle: Some Direct Evidence pp. 638-55

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

Christopher Pissarides

International Trade and Labor Migration pp. 691-707

Wilfred Ethier

Can Small Deviations from Rationality Make Significant Differences to Economic Equilibria? pp. 708-20

George Akerlof and Janet Yellen

Employment Tenure and Earnings Profiles in Japan and the United States pp. 721-35

Masanori Hashimoto and John Raisian

Notches pp. 736-47

Alan Blinder and Harvey Rosen

Searching for Leviathan: An Empirical Study pp. 748-57

Wallace Oates

Industry Structure with Fluctuating Demand pp. 758-67

David Mills and Laurence Schumann

Modeling the Formation of Price Expectations: A Bayesian Approach pp. 768-76

John Caskey

Precautionary Saving and Accidental Bequests pp. 777-91

Andrew Abel

A Test of Dual Labor Market Theory pp. 792-805

William T Dickens and Kevin Lang

Unbalanced Growth Revisited: Asymptotic Stagnancy and New Evidence pp. 806-17

William Baumol, Sue Anne Batey Blackman and Edward Wolff

Labor Market Costs of Language Disparity: An Interpretation of Hispanic Earnings Differences pp. 818-27

Walter McManus

Equilibrium Relationships between Money and Other Economic Variables pp. 828-35

James Lothian

The Market for "Lemons" Reconsidered: A Model of the Used Car Market with Asymmetric Information pp. 836-43

Jae-Cheol Kim

A Note on the General Validity of the Heckscher-Ohlin Theorem pp. 844-49

Helmut Forstner

Screening vs. Rationing in Credit Markets with Imperfect Information pp. 850-55

Helmut Bester

The Conformity of Wage-Indexation Models with "Stylized Facts." pp. 856-61

Gary Fethke

Auctions with Contingent Payments pp. 862-65

Robert G Hansen

Inconsistent Equilibrium Constructs: The Evenly Rotating Economy of Mises and Rothbard pp. 866-69

Tyler Cowen and Richard Fink

Price Discrimination and Social Welfare pp. 870-75

Hal Varian

Controlling Contradictions among Regulations: Note pp. 876-77

Chris T Hendrickson and Francis Clay McMichael

Fair Outcome-Fair Process [Applied Fairness Theory and Rationing Policy] pp. 878-80

Robert Piron

Another Look at Free Banking in the United States [New Evidence on the Free Banking Era] pp. 881-85

James Kahn

New Evidence on Free Banking in the United States [New Evidence on the Free Banking Era] pp. 886-89

Hugh Rockoff

Eqilibrium Unemployment as a Worker Discipline Device: Comment pp. 890-91

Clive Bull

Equilibrium Unemployment as a Worker Discipline Device: Reply pp. 892-93

Carl Shapiro and Joseph Stiglitz

Capacity, Output, and Sequential Entry: Comment pp. 894-96

Stanley S Reynolds

Capacity, Output, and Sequential Entry: Reply pp. 897-98

Daniel Spulber

Volume 75, issue 3, 1985

What Will Take the Con out of Econometrics? pp. 293-307

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

Charles Holt

Rational Expectations and the Limits of Rationality: An Analysis of Heterogeneity pp. 326-40

John Haltiwanger and Michael Waldman

Do Markets Differ Much? pp. 341-51

Richard Schmalensee

A Theory of Contractual Structure in Agriculture pp. 352-67

Mukesh Eswaran and Ashok Kotwal

Oil Field Unitization: Contractual Failure in the Presence of Imperfect Information pp. 368-85

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

Joshua Aizenman and Jacob A Frenkel

Network Externalities, Competition, and Compatibility pp. 424-40

Michael Katz and Carl Shapiro

Asymmetric Information and Collusive Behavior in Auction Markets pp. 441-60

Jonathan Feinstein, Michael K Block and Frederick C Nold

Unemployment Duration and Incidence: 1968-82 pp. 461-72

Hal Sider

The Advantages of Being First pp. 473-80

Amihai Glazer

Internal Migration and Urban Employment in the Third World pp. 481-94

William E Cole and Richard D Sanders

Accounting Rates of Return pp. 495-504

Gerald L Salamon

Urban Land Prices under Uncertainty pp. 505-14

Sheridan Titman

A Note on Equity and Efficiency in the Pricing of Local Telephone Services pp. 515-18

Edward Renshaw

Women, Work, and Divorce pp. 519-23

William Sander

Money, Anticipated Changes, and Policy Effectiveness pp. 524-29

Richard G Sheehan

Inflation and Reputation pp. 530-38

David Backus and Edward Driffill

The Competitive Effects of Vertical Agreements? pp. 539-46

William S Comanor and Harry Frech

Enlistments in the All-Volunteer Force: Note pp. 547-51

Charles Dale and Curtis Gilroy

Is There an Operational Interest Rate Rule? pp. 552-56

Michael Dotsey

U.S. Monetary Policy and the Exchange Rate: Comment [A Critical Appraisal of McKinnon's World Money Supply Hypothesis] pp. 557-59

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

Henry N Goldstein and Stephen E Haynes

The Money Supply Announcements Puzzle: Comment pp. 562-64

Barry Falk and Peter Orazem

The Money Supply Announcements Puzzle: Reply pp. 565-66

Bradford Cornell

Fisher's Paradox: Comment [Fisher's Paradox and the Theory of Interest] pp. 567-68

Patrick Honohan

Fisher's Paradox: Reply [Fisher's Paradox and the Theory of Interest] pp. 569-70

Jeffrey Carmichael and Peter W Stebbing

Predictable Behavior: Comment [The Origin of Predictable Behavior] pp. 571-75

Richard Bookstaber and Joseph Langsam

Predictable Behavior: Comment [The Origin of Predictable Behavior] pp. 576-78

Roger W Garrison

Predictable Behavior: Reply [The Origin of Predictable Behavior] pp. 579-85

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

Timothy Bresnahan

R&D Appropriability, Opportunity, and Market Structure: New Evidence on Some Schumpeterian Hypotheses pp. 20-24

Richard C Levin, Wesley M Cohen and David C Mowery

Patent Licensing and R&D Rivalry pp. 25-30

Carl Shapiro

Nominal Wage-Price Rigidity as a Rational Expectations Equilibrium pp. 31-35

Costas Azariadis and Russell Cooper

Wage Flexibility in the United States: Lessons from the Past pp. 36-40

Daniel J B Mitchell

Profit Sharing as Macroeconomic Policy pp. 41-45

Martin Weitzman

The Regulatory Transition pp. 46-51

John R Meyer and William B Tye

"Let Them Make Toll Calls": A State Regulator's Lament pp. 52-56

Roger Noll

Intercity Transportation Route Structures under Deregulation: Some Assessments Motivated by the Airline Experience pp. 57-61

Steven A Morrison and Clifford Winston

Macroeconomic Stability and Flexible Exchange Rates pp. 62-67

John Bilson

Reflections on the Exchange Rate System pp. 68-73

J Carter Murphy

On the System in Bretton Woods pp. 74-79

John Williamson

Computer Applications in Pre-college Economics pp. 80-84

John M Sumansky

Macro Simulations for PCs in the Classroom pp. 85-90

Karl Case and Ray Fair

Cost Effectiveness of Computer-assisted Economics Instruction pp. 91-96

Darrell R Lewis, Bruce R Dalgaard and Carol M Boyer

Legislative Construction of the Monetary Control Act of 1980 pp. 97-102

Timberlake, Richard H,

Deregulation and Monetary Reform pp. 103-07

Leland B Yeager

Speculation, Deregulation, and the Interest Rates pp. 108-13

Leonard A Rapping and Lawrence B Pulley

1985 Projections of the New York Metropolitan Region Study pp. 114-19

Dick Netzer

Long-term Forecasts in International Economics pp. 120-26

William Cline

The Economic Thought of George Orwell pp. 127-32

Jennifer Roback

Hamlet without the Prince: Cambridge Macroeconomics without Money pp. 133-39

Jan Kregel

Cambridge Price Theory: Special Model or General Theory of Value? pp. 140-45

Bertram Schefold

Joan Robinson's Critique of Equilibrium: An Appraisal pp. 146-49

E Roy Weintraub

Auction Theory with Private Values pp. 150-55

Eric Maskin and Joan G Riley

Empirical Testing of Auction Theory pp. 156-59

Robert G Hansen

Experimental Development of Sealed-Bid Auction Theory: Calibrating Controls for Risk Aversion pp. 160-65

James Cox, Vernon L Smith and James Walker

Modes of Thought in Economics and Biology pp. 166-72

Paul A Samuelson

The New Economics of Labor Migration pp. 173-78

Oded Stark and David Bloom

New Evidence on the Timing and Spacing of Births pp. 179-84

James J Heckman, V Joseph Hotz and James Walker

International Debt: From Crisis to Recovery? pp. 185-90

William Cline

Latin American Debt: Lessons and Pending Issues pp. 191-95

Eduardo Wiesner

Data and Econometricians-The Uneasy Alliance pp. 196-200

Zvi Griliches

The Loss Function Has Been Mislaid: The Rhetoric of Significance Tests pp. 201-05

Deirdre McCloskey

Macroeconometric Modeling and the Theory of the Representative Agent pp. 206-10

John Geweke

An Integrated Accounting Matrix for Canada and the United States pp. 211-16

Jacob Cohen and Steven Husted

Modeling U.S.-Mexico Economic Linkages pp. 217-22

Clark W Reynolds and Robert K McCleery

New Developments in Project LINK pp. 223-27

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

David Teece

Hymer and Public Policy in LDCs pp. 239-44

Donald J Lecraw

Religion and the Earnings Function pp. 245-50

Nigel Tomes

Cultural Differences in Labor Force Participation among Married Women pp. 251-55

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

Janis Barry

Executive Compensation: Female Executives and Networking pp. 266-70

Robin L Bartlett and Timothy I Miller

Longitudinal Changes at a Large Public University: What Response to Equal Pay Legislation? pp. 271-74

Sharon Bernstein Megdel and Michael Ransom

Sex Role Socialization and Labor Market Outcomes pp. 275-78

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

W W Rostow

Human Fallibility and Economic Organization pp. 292-97

Raaj Kumar Sah and Joseph Stiglitz

Learning from Experience in Organizations pp. 298-302

Scott R Herriott, Daniel Levinthal and James G March

Informational Structure of the Firm pp. 303-07

Kenneth Arrow

State and Industry in France, 1750-1914 pp. 308-14

Caglar Keyder

French Industrial Policy under the Socialist Government pp. 315-19

Bela Balassa

Economic History: A Necessary Thought Not Sufficient Condition for an Economist: Maine and Texas pp. 320-23

Kenneth Arrow

Is History Stranger than Theory? The Origin of Telephone Separations pp. 324-27

Peter Temin and Geoffrey Peters

Economic History and Economics pp. 328-31

Robert Solow

Clio and the Economics of QWERTY pp. 332-37

Paul David

Portfolio Choice and the Debt-to-Income Relationship pp. 338-43

Benjamin M Friedman

Stability and Instability in the Debt-Income Relationship pp. 344-50

Robert Pollin

Private Credit Demand, Supply, and Crunches-How Different Are the 1980's? pp. 351-56

Albert M Wojnilower

Macroeconomic Analysis of Leading Interwar Authorities: Marriner S. Eccles, Chairman of the Federal Reserve Board pp. 357-62

L Dwight Israelsen

Rudolf Hilferding: The Dominion of Capitalism and the Dominion of Gold pp. 363-68

William Darity and Bobbie L Horn

Korekiyo Takahashi and Japan's Recovery from the Great Depression pp. 369-74

Dick K Nanto and Shinji Takagi

Financial Risk and the Burden of Contracts pp. 375-80

Herman B Leonard and Richard Zeckhauser

Are Individuals Bayesian Decision Makers? pp. 381-85

W Viscusi

Ambiguity and Insurance Decisions pp. 386-90

Robin M Hogarth and Howard Kunreuther

Origin of Predictable Behavior: Further Modeling and Applications pp. 391-96

Ronald A Heiner

Individual Rationality, Market Rationality, and Value Estimation pp. 397-402

Peter Knez, Vernon L Smith and Arlington Williams

Knowledge, Uncertainty, and Behavior pp. 403-08

Keith D Wilde, Allen D LeBaron and L Dwight Israelsen

The Changing Environment of Central Bank Policy pp. 409-13

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

Samuel Bowles

The Validity of Profits-Structure Studies with Particular Reference to the FTC's Line of Business Data pp. 37-67

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

Peter Howitt

The Demand for Unobservable and Other Nonpositional Goods pp. 101-16

Robert Frank

Fiscal Policy and Aggregate Demand pp. 117-27

David Aschauer

General Equilibrium Computations of the Marginal Welfare Costs of Taxes in the United States pp. 128-38

Charles Ballard, John B Shoven and John Whalley

The Use of Protection and Subsidies for Entry Promotion and Deterrence pp. 139-52

Avinash Dixit and Albert Kyle

A Framework for Evaluating the Effects of Economic Growth and Transfers on Poverty pp. 153-61

Peter Gottschalk and Sheldon Danziger

A Theory of Two-Tier Labor Markets in Agrarian Economies pp. 162-77

Mukesh Eswaran and Ashok Kotwal

The Relative Inefficiency of Quotas: The Cheese Case pp. 178-90

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

Moshe Adler

Advertising and Economic Welfare pp. 213-18

Len M Nichols

Oligopoly and the Incentive for Horizontal Merger pp. 219-27

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

Richard Manning, James Markusen and John McMillan

Excess Labor and the Business Cycle pp. 239-45

Ray Fair

Monopoly Unionism: Note pp. 246-49

Daniel Leonard

Why Everything Takes 2.71828... Times as Long as Expected pp. 250-52

Philip Musgrove

The Design of an Optimal Insurance Policy: Note pp. 253-55

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

Ronald A Heiner

Experimental Economics: Reply pp. 264-72

Vernon L Smith

Experimental Economics: Comment pp. 264

Daniel Friedman

Relative Prices, Concentration, and Money Growth: Comment pp. 273-78

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

Eric Briys and Louis Eeckhoudt

Relative Risk Aversion in Comparative Statics: Comment pp. 284-85

John D Hey

Relative Risk Aversion in Comparative Statics: Reply pp. 286-87

Eliakim Katz