American Economic Review

1969 - 2025

Current editor(s): Esther Duflo

From American Economic Association
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Volume 70, issue 5, 1980

Inflation and the Stock Market pp. 839-47

Martin Feldstein

A Theory of Just Regulation pp. 848-62

Li Way Lee

Basic Research and Productivity Increase in Manufacturing pp. 863-73

Edwin Mansfield

Consensus Beliefs, Information Acquisition, and Market Information Efficiency pp. 874-84

Robert E Verrecchia

Unemployment Spells and Unemployment Experience pp. 885-93

George Akerlof and Brian G M Main

Community Development: The Effects of Growth and Uncertainty pp. 894-910

J Vernon Henderson

Racial Trends in Male Labor Force Participation pp. 911-20

Donald Parsons

Increasing Downside Risk pp. 921-32

C Menezes, C Geiss and John Tressler

Compensating Variation, Consumer's Surplus, and Welfare pp. 933-49

John Chipman and James C Moore

Scale Economies, Product Differentiation, and the Pattern of Trade pp. 950-59

Paul Krugman

Exchange Rates and the Current Account pp. 960-71

Rüdiger Dornbusch and Stanley Fischer

The Short-Run Relation between Growth and Inflation in Latin America: A Quasi-Rational or Consistent Expectations Approach pp. 972-89

James A Hanson

Interest Rates, Inflation Expectations, and Spurious Elements in Measured Real Income and Saving pp. 990-1004

Gregory V Jump

Two Illustrations of the Quantity Theory of Money pp. 1005-14

Robert Lucas

Reswitching, Wicksell Effects, and the Neoclassical Production Function: Note pp. 1015-17

Klaus Pertz

The Ban on Indexed Bonds, 1933-77 pp. 1018-21

J. Huston McCulloch

Inflation Uncertainty and the Phillips Curve: Some Empirical Evidence pp. 1022-27

Maurice Levi and John Makin

Pareto-Desirable Redistribution in Kind: Comment pp. 1028-31

Edgar Olsen

Pareto-Desirable Redistribution in Kind: Reply pp. 1032-36

Geoffrey Brennan and Cliff Walsh

The Pigouvian Tax Rule under Monopoly pp. 1037-41

A H Barnett

A Note on the Separability of Production and Location pp. 1042-45

Hurter, Arthur P,, Joseph S Martinich and Enrique R Venta

Unique Equilibria, Pure Profits, and Efficiency in Location Models pp. 1046-53

Dennis Capozza and Robert Van Order

Harold Hotelling and Marginal Cost Pricing pp. 1054-57

Eugene Silberberg

Uncertain Externalities, Liability Rules, and Resource Allocation: Comment pp. 1058-59

Varouj Aivazian and Jeffrey L Callen

Uncertain Externalities, Liability Rules, and Resource Allocation: Reply pp. 1060-63

Peter H Greenwood and Charles A Ingene

Minimum and Maximum Prices, Uncertainty, and the Theory of the Competitive Firm pp. 1064-68

Louis Eeckhoudt and Pierre Hansen

Estimating Demand Elasticities for Public Goods from Survey Data pp. 1069-76

Betty Blecha Gibson

The Value of a Life: New Evidence from the Marketplace pp. 1077-82

Rachel Dardis

Factor-Price Uncertainty with Variable Proportions: Note pp. 1083-88

Stylianos Perrakis

A Model of the Parallel Team Strategy in Product Development pp. 1089-97

Fred D Arditti and Haim Levy

Loschian Competition under Alternative Demand Conditions pp. 1098-1105

Bruce Benson

Volume 70, issue 4, 1980

The Slowing Down of the Engine of Growth pp. 555-64

W. Lewis

The Dynamics of Spot and Forward Prices in an Efficient Foreign Exchange Market with Rational Expectations pp. 565-83

Jerome L Stein

Experiments with a Decentralized Mechanism for Public Good Decisions pp. 584-99

Vernon L Smith

A Model of the Firm as a Stockholder-Employee Cooperative Game pp. 600-610

Masahiko Aoki

Tariffs, Nontraded Goods, and the Optimal Stabilization Policy pp. 611-25

Robert Lucas

Unemployment, the Allocation of Labor, and Optimal Government Intervention pp. 626-35

Donald Parsons

Fiscal Policies, Inflation, and Capital Formation pp. 636-50

Martin Feldstein

A Model of Sales pp. 651-59

Hal Varian

An Alternative Test of the Capital Asset Pricing Model pp. 660-71

Pao L Cheng and Robert R Grauer

Explaining the Relative Efficiency of Slave Agriculture in the Antebellum South: Reply pp. 672-90

Robert Fogel and Stanley L Engerman

On the Monopolistic Provision of Excludable Public Goods pp. 691-704

Dagobert Brito and William H Oakland

Taxation, Human Capital, and Uncertainty pp. 705-15

Jonathan Eaton and Harvey Rosen

Efficient Protection under Uncertainty pp. 716-31

Elhanan Helpman and Assaf Razin

Unemployment, Inflation, and Monetarism-A Further Analysis: Comment pp. 732-37

Kirker J Stephens

Unemployment, Inflation, and Monetarism-A Further Analysis: Reply pp. 738

Robert Van Order

On the "q" Theory of Investment pp. 739-43

Hiroshi Yoshikawa

Optimal Corrective Taxes or Subsidies When Revenue Raising Imposes an Excess Burden pp. 744-51

Yew-Kwang Ng

The Golden Rule with Endogenous Labor Participation Rate pp. 752-55

Larry Samuelson

Incentives and the Choice of Optimal Plans pp. 756-62

Susan I Cohen

The Forward Exchange Rate, Expectations, and the Demand for Money-The German Hyperinflation: Comment pp. 763-70

Michael K Salemi

The Forward Exchange Rate, Expectations, and the Demand for Money-The German Hyperinflation: Reply pp. 771-75

Jacob A Frenkel

Exchange Rate Dynamics, Portfolio Balance, and Relative Prices pp. 776-83

Robert Driskill

X-Inefficiency and Nonpecuniary Rewards in a Rent-Seeking Society: A Neglected Issue in the Property Rights Theory of the Firm pp. 784-92

W. Crain and Asghar Zardkoohi

Comparing Utility Functions in Efficiency Terms: Comment pp. 793-94

Dana N Stevens and James Foster

Comparing Utility Functions in Efficiency Terms: Reply pp. 795

Burton A Weisbrod

Bank Credit and the Labor-Managed Firm: Comment pp. 796-99

Frank H Stephen

Bank Credit and the Labor-Managed Firm: Reply pp. 800-804

Eirik G Furubotn

Income, Labor Supply, and Urban Residence pp. 805-11

John S Hekman

In Defense of Some "Paradoxes" of Trade Theory pp. 812-14

Horst Herberg and Murray Kemp

This Side of Paradox, or, in Defense of the Correspondence Principle: A Reply to Herberg and Kemp pp. 815-18

J. Peter Neary

Utility Function Transformations and Money Illusion: A Further Comment pp. 819-22

Peter Howitt and Don Patinkin

Utility Function Transformations and Money Illusion: Reply and Further Results pp. 823-25

Richard Dusansky

Utility Function Transformations and Money Illusion: A Further Comment pp. 826-28

Peter Howitt and Don Patinkin

On the Comparison of the Stability Implications of Marshallian and Walrasian Adjustment Schemes: Note pp. 829-33

Ian McDonald

Volume 70, issue 3, 1980

Price Expectations in the United States: 1947-75 pp. 269-77

Rodney L Jacobs and Robert Jones

Multinational Firms and the Theory of International Trade and Investment pp. 278-90

Raveendra N Batra and Rama Ramachandran

The Terms of Trade and Equilibrium Growth in the World Economy pp. 291-99

Ronald Findlay

Taxing Tar and Nicotine pp. 300-311

Jeffrey E Harris

An Almost Ideal Demand System pp. 312-26

Angus Deaton and John Muellbauer

A Structural Model of Murder Behavior and the Criminal Justice System pp. 327-41

Stephen A Hoenack and William C Weiler

Capital Contracting and the Regulated Firm pp. 342-54

H Stuart Burness, W David Montgomery and James P Quirk

Do Union Members Receive Compensating Wage Differentials? pp. 355-71

Greg Duncan and Frank P Stafford

The Marginal Utility of Income Does not Increase: Borrowing, Lending, and Friedman-Savage Gambles pp. 372-79

Martin J Bailey, Mancur Olson and Paul Wonnacott

On the Method of Taxation and the Provision of Local Public Goods pp. 380-92

David A Starrett

On the Impossibility of Informationally Efficient Markets pp. 393-408

Sanford Grossman and Joseph Stiglitz

Further International Evidence of Output-Inflation Tradeoffs pp. 409-21

Richard T Froyen and Roger Waud

Global Properties of Flexible Functional Forms pp. 422-32

Douglas W Caves and Laurits R Christensen

International Impact of U.S. Money Supply: The Case of Mexico pp. 433-43

Mike Farrell

The Optimal Order for Submitting Manuscripts pp. 444-48

Sharon Oster

Consumer's Surplus in Commodity Space pp. 449-55

Alan Randall and John R Stoll

On the Effect of Rate of Return Regulation under Uncertainty pp. 456-60

Satya Das

Limits on Public Provision of Private Goods pp. 461-65

Robert J Staaf and E G West

Limits on Public Provision of Private Goods: Reply and Further Analysis pp. 466-73

Arthur Denzau and Robert J Mackay

The Interpretation of Dummy Variables in Semilogarithmic Equations pp. 474-75

Robert Halvorsen and Raymond Palmquist

Production, Information Costs, and Economic Organization: The Buyer Monitoring Case pp. 476-78

Nancy L Jacob and Alfred N Page

Paglin's Gini Measure of Inequality: A Modification pp. 479-82

John P Formby and Terry G Seaks

Conglomerate Power without Market Power: The Effects of Conglomeration on a Risk-Averse Quantity-Adjusting Firm pp. 483-87

Ralph Bradburd

A Note on the Representation of Preferences in the Lindahl-Johansen Diagram pp. 488-92

Geoffrey Philpotts

Measuring the Expected Real Rate of Interest-An Exploration of Macroeconomic Alternatives: Comment pp. 493-97

Merrick, John J,

Measuring the Expected Real Rate of Interest-An Exploration of Macroeconomic Alternatives: Reply and Further Thoughts pp. 498-500

J Walter Elliott

Excess Burden, Benefit Taxation and Efficiency in Public Expenditure pp. 501-06

Thomas S McCaleb

Optimal Public Investment and Dispersion Policy in a System of Open Cities pp. 507-14

Elhanan Helpman and David Pines

Gains from Trade under Uncertainty: Further Comment pp. 515-17

Hiroya Akiba

The Comparative Statics of the Competitive, Increasing-Cost Industry pp. 518-21

Joseph P Hughes

Tariffs vs. Quotas under Uncertainty: An Extension pp. 522-27

Lealie Young

Further Results in Input Choices under Uncertain Demand pp. 528-32

Satya Das

Volume 70, issue 2, 1980

Can Capitalism Survive?-An Old Question in a New Setting pp. 1-9

Tibor Scitovsky

Post-Keynesian Economics: A Promise That Bounced? pp. 10-14

L Tarshis

On Keynesian Economics and the Economics of the Post-Keynesians pp. 15-25

Janet Yellen

Bias in Economics Education Research from Random and Voluntary Selection into Experimental and Control Groups pp. 29-34

John Siegfried and George H Sweeney

Pooled Cross-Section, Time-Series Evaluation pp. 35-40

William Becker and Mathew J Morey

Guessing and the Error Structure of Learning Models pp. 41-46

Michael K Salemi and George Tauchen

Regulation and Technical Change: Some Largely Unexplored Influences pp. 50-54

George C Eads

What Do R & D Numbers Tell Us about Technological Change? pp. 55-61

Nestor E Terleckyj

Production Sets, Technological Knowledge, and R & D: Fragile and Overworked Constructs for Analysis of Productivity Growth? pp. 62-67

Richard Nelson

How Effective Have Fiscal Policies Been in Changing the Distribution of Income and Wealth? pp. 72-76

Mervyn A King

Income Redistribution through the Fiscal System: The Limits of Knowledge pp. 77-81

Richard Bird

The Indirect Incidence of Government Expenditures pp. 82-87

Lester Thurow

Economic Development in Historical Perspective pp. 91-95

Lloyd G Reynolds

Comparative Indian Economic Growth: 1870 to 1970 pp. 96-101

Alan Heston and Robert Summers

Brazilian Development in Long-Term Perspective pp. 102-08

Albert Fishlow

The Welfare State in Trouble: Systemic Crisis or Growing Pains? pp. 113-16

Albert Hirschman

Accounts of the Welfare State and the New Mood pp. 117-22

Ira Katznelson

Equality, Incentives, and Economic Policy pp. 123-27

Ransford W Palmer

The Persistence of Racial Inequality in Urban Areas and Industries, 1950-70 pp. 128-31

Michael Reich

Guaranteed Employment, Work Incentives, and Welfare Reform: Insight from the Work Equity Project pp. 132-37

Stephanie Wilson, Danny Steinberg and Jane C Kulik

Rates of Return to Human Capital: A Test Using El Salvador Data pp. 138-41

Lascelles Anderson

How Interested Groups Have Responded to a Proposal for Economic Competition in Health Services pp. 142-48

Alain C Enthoven

Health Insurance and Cost-Containment Policies: The Experience Abroad pp. 149-56

Uwe E Reinhardt

Stabilization Policy and Capital Formation pp. 157-63

Robert E Hall

Issues in the Taxation of Capital Income in the United States pp. 164-70

Michael J Boskin and John B Shoven

What Is Labor Supply and Do Taxes Affect It? pp. 171-76

Harvey Rosen

Private Saving pp. 177-81

George von Furstenberg

Tax Rules and the Mismanagment of Monetary Policy pp. 182-86

Martin Feldstein

Urban Land Use and the Growth in Two-Earner Households pp. 191-97

Janice Fanning Madden

Consequences of the Rise of the Two-Earner Family: The Breakdown of the Sexual Division of Labor pp. 198-202

Julie A Matthaei

Real Income Equivalence among One-Earner and Two-Earner Families pp. 203-08

Edward Lazear and Robert T Michael

Labor Force Participation Rates of Women and the Rise of the Two-Earner Family pp. 209-12

Daniel C Quinlan and Jean A Shackelford

Investment and Growth in an Econometric Model of the United States pp. 214-19

Robert M Coen and Bert G Hickman

The Contribution of Capital to Economic Growth pp. 220-24

Edward F Denison

Total Income, Total Investment, and Growth pp. 225-31

Robert Eisner

Exchange Rates, Prices, and Money: Lessons from the 1920's pp. 235-42

Jacob A Frenkel

A Consistent Characterization of a Near-Century of Price Behavior pp. 243-49

Robert Gordon

Comparison of Interwar and Postwar Business Cycles: Monetarism Reconsidered pp. 250-57

Christopher A Sims

Capital and the Theory of Productivity Measurement pp. 260-67

Walter Diewert

Welfare Comparison under Exact Aggregation pp. 268-72

Dale Jorgenson, Lawrence J Lau and Thomas M Stoker

Group Cost-of-Living Indexes pp. 273-78

Robert Pollak

Interactions between Industrialization and Exports pp. 281-87

Hollis B Chenery

Trade Policy as an Input to Development pp. 288-92

Anne O Krueger

Government Policies and Changing Shares in World Trade pp. 293-98

Charles P Kindleberger

Regulation and the Choice of Prescription Drugs pp. 301-05

Peter Temin

The Market for Regulation: The ICC from 1887 to 1920 pp. 306-10

Thomas S Ulen

Regulation, Deregulation, and Economic Efficiency: The Case of the CAB pp. 311-15

John C Panzar

Profitability and Capital Costs for Manufacturing Corporations and All Nonfinancial Corporations pp. 320-25

Daniel M Holland and Stewart C Myers

Rates of Return by Industrial Sector in the United States, 1948-76 pp. 326-30

Barbara M Fraumeni and Dale Jorgenson

Vignettes on the World Capital Market pp. 331-37

Arnold C Harberger

Improving Productivity Measurement pp. 340-42

Albert Rees

R & D and the Productivity Slowdown pp. 343-48

Zvi Griliches

Sectoral Productivity Slowdown pp. 349-52

M Ishaq Nadiri

Transaction Cost Determinants of "Unfair" Contractual Arrangements pp. 356-62

Benjamin Klein

Strict Liability vs. Negligence in a Market Setting pp. 363-67

A. Mitchell Polinsky

Vehicle and Nonvehicle Currencies in International Trade pp. 368-73

Stephen P Magee and Ramesh K S Rao

The Efficiency of Foreign Exchange Markets and Measures of Turbulence pp. 374-81

Jacob A Frenkel and Michael Mussa

Dollar Stabilization and American Monetary Policy pp. 382-87

Ronald McKinnon

Structural Change and Regulatory Reform in the Utilities Industries pp. 388-92

Harry M Trebing

Radio Spectrum Allocation: Role of the Market pp. 393-97

William H Melody

State Initiatives in State-Federal Relations pp. 398-402

Thomas K Standish

Population as a System in Regional Development pp. 405-09

William Alonso

Some Dynamics of Central City-Suburban Interactions pp. 410-14

Katharine Bradbury, Anthony Downs and Kenneth A Small

Neighborhood Stability in Changing Cities pp. 415-19

Michael A Stegman and David Rasmussen

Volume 70, issue 1, 1980

On Theories of Unemployment pp. 1-11

Robert Solow

Inflationary Expectations, Economic Activity, Taxes, and Interest Rates pp. 12-21

Vito Tanzi

Oligopoly and Competition in Large Markets pp. 22-31

Masahiro Okuno-Fujiwara, Andrew Postlewaite and John Roberts

Price Inflation, Portfolio Choice, and Nominal Interest Rates pp. 32-48

Benjamin M Friedman

Forecasting the Market for New Ph.D. Economists pp. 49-63

Hansen, W L, et al

The Substitution Bias of the Laspeyres Price Index: An Analysis Using Estimated Cost-of-Living Indexes pp. 64-77

Steven D Braithwait

The Changing Cyclical Behavior of Wages and Prices: 1890-1976 pp. 78-90

Jeffrey Sachs

Family Size and the Distribution of Real Per Capita Income pp. 91-107

Edward Lazear and Robert T Michael

Sources of Quality Change in Labor Input pp. 108-19

Peter T Chinloy

Efficient Foreign Exchange Markets and the Monetary Approach to Exchange-Rate Determination pp. 120-34

Douglas W Caves and Edgar Feige

Metzler on Classical Interest Theory pp. 135-48

John H Wood

Inflation Expectations and Money Growth in the United States pp. 149-61

Donald J Mullineaux

Measuring Technological Bias pp. 162-73

Rodney Stevenson

Queuing Analysis and Value of Service Pricing in the Trucking Industry: Comment pp. 174-80

Kenneth D Boyer

Competition and Value of Service Pricing in the Trucking Industry: Reply pp. 181-85

A S De Vany and T R Saving

The Quality of Education and Cohort Variation in Black-White Earnings Differentials: Comment pp. 186-91

John Akin and Irv Garfinkel

The Quality of Education and Cohort Variations in Black-White Earnings Differentials: Reply pp. 192-95

Finis Welch

The Quality of Education and Cohort Variation in Black-White Earnings Differentials: Reply pp. 196-203

Charles Link, Edward Ratledge and Kenneth Lewis

Measurement of Tax Progressivity: Comment pp. 204-07

David G Davies

Measurement of Tax Progressivity: Comment pp. 208-10

Edward C Kienzle

Measurement of Tax Progressivity: Reply pp. 211

Daniel B Suits

Price Uncertainty and the Cooperative Firm pp. 212-16

Jacob Paroush and Nava Kahana

The Ranking of Behavioral Modes of the Firm Facing Uncertain Demand pp. 217-24

Chin Lim

Many, Few, One: Social Harmony and the Shrunken Choice Set pp. 225-32

David Friedman

Distributional Neutrality and Optimal Commodity Taxation: Comment pp. 233-36

Leslie Young

Distributional Neutrality and Optimal Commodity Taxation: Reply pp. 237-41

David Wildasin

Who Benefits from Economic Development? Comment pp. 242-45

Ahluwalia, Montek S, et al

Who Benefits from Economic Development? Comment pp. 246-49

Paul Beckerman and Donald Coes

Who Benefits from Economic Development? Comment pp. 250-56

Albert Fishlow

Who Benefits from Economic Development? Reply pp. 257-62

Gary Fields