American Economic Review

1969 - 2025

Current editor(s): Esther Duflo

From American Economic Association
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Volume 69, issue 5, 1979

Short-Run Price Effects of the Corporate Income Tax and Implications for International Trade pp. 765-74

James Melvin

The Migration Decision: What Role Does Job Mobility Play? pp. 775-86

Ann P Bartel

Job Opportunities, the Offered Wage, and the Labor Supply of Married Women pp. 787-805

Masao Nakamura, Alice Nakamura and Dallas Cullen

Public Employee Market Power and the Level of Government Spending pp. 806-17

Paul Courant, Edward Gramlich and Daniel L Rubinfeld

The Monetary Approach to Official Reserves and the Foreign Exchange Rate in France, 1962-74: Some Structural Estimates pp. 818-31

Jacques Melitz and Henri Sterdyniak

Growth and the Long-Run Theory of International Capital Movements pp. 832-42

Roy J Ruffin

A Dynamic Disequilibrium Comparison of Fixed and Free Exchange-Rate Regimes pp. 843-54

Kenneth Chan

Black-White Life Cycle Earnings Differences and the Vintage Hypothesis: A Longitudinal Analysis pp. 855-67

Saul Hoffman

Efficient Wage Bargains under Uncertain Supply and Demand pp. 868-79

Robert Hall and David M Lilien

The Optimal Tradeoff between the Probability and Magnitude of Fines pp. 880-91

A. Mitchell Polinsky and Steven Shavell

Translog Flexible Functional Forms and Associated Demand Systems pp. 892-901

Peter Simmons and Daniel Weiserbs

Shadow Pricing in Distorted Economies pp. 902-14

Trent J Bertrand

A Theory of Federal Debt Management pp. 915-26

V Vance Roley

Disadvantageous Syndicates in Public Goods Economies pp. 927-33

Andrew Schotter

The Performance of Multiperiod Managerial Incentive Schemes pp. 934-40

Peter Murrell

Inside the Monetarist Black Box: Comment pp. 941-43

Francisco L Lopes

Inside the Monetarist Black Box: Reply pp. 944-46

Jerome Stein

Welfare Measures in a Multimarket Framework pp. 947-54

Richard Just and Darrell L Hueth

Inflationary Expectations and Momentary Equilibrium: Comment pp. 955

John S Pettengill

Inflationary Expectations and Momentary Equilibrium: Reply pp. 956

Lewis Johnson

Monopolistic Competition and Optimum Product Diversity: Comment pp. 957-60

John S Pettengill

Monopolistic Competition and Optimum Product Diversity: Reply pp. 961-63

Avinash Dixit and Joseph Stiglitz

On the Equivalence of Reference Price with Tariffs and Quotas pp. 964-67

Anthony Y C Koo

Turnover and Mobility among the 100 Largest Firms: An Update pp. 968-73

Robert J Stonebraker

A Simple Neutrality Result for Movements between Income and Consumption Taxes pp. 974-76

John Whalley

Substitution vs. Addiction in the True Index of Real Wages pp. 977-82

Louis Phlips and Pierre Pieraerts

Minimizing AEA Convention Transportation Costs pp. 983-88

John Siegfried and Larry Nelson

Hedging and the Competitive Firm under Price Uncertainty pp. 989-95

Duncan M Holthausen

Unanticipated Money Growth and Unemployment in the United States: Comment pp. 996-1003

David H Small

Unanticipated Money Growth and Unemployment in the United States: Reply pp. 1004-09

Robert Barro

Professorial Behavior Given a Stochastic Reward Structure pp. 1010-17

William Becker

Volume 69, issue 4, 1979

Rational Decision Making in Business Organizations pp. 493-513

Herbert Simon

The Output Distribution Frontier: Alternatives to Income Taxes and Transfers for Strong Equality Goals pp. 514-25

William Baumol and Dietrich Fischer

On Fiscal and Monetary Policies and the Government Budget Restraint pp. 526-38

Carl Christ

An Analysis of a Macro-Econometric Model with Rational Expectations in the Bond and Stock Markets pp. 539-52

Ray Fair

The Narrowing of Black-White Wage Differentials Is Illusory pp. 553-64

Edward Lazear

Models of the Firm and International Trade under Uncertainty pp. 565-74

David P Baron and Robert Forsythe

Multi-Intermediate-Goods Trade: The Gains and a Heckscher-Ohlin Analysis pp. 575-86

William Der

Information, Entry, and Welfare: The Case for Collusion pp. 587-94

Donald Dewey

Differential Inflationary Expectations and the Variability of the Rate of Inflation: Theory and Evidence pp. 595-609

Alex Cukierman and Paul Wachtel

On the Mark: A Theory of Floating Exchange Rates Based on Real Interest Differentials pp. 610-22

Jeffrey Frankel

Economic Theory of Choice and the Preference Reversal Phenomenon pp. 623-38

David Grether and Charles Plott

Money, Bonds, and Foreign Exchange pp. 639-49

Eugene Fama and André Farber

Testing the Demand Side of Comparative Advantage Models pp. 650-61

Yutaka Horiba

Incomplete Markets, Price Regulation, and Welfare pp. 662-69

H M Polemarchakis

The Measurement of Inequality: Comment pp. 670-72

Kenneth L Wertz

The Measurement of Inequality: Reply pp. 673-77

Morton Paglin

Monopoly Output under Alternative Spatial Pricing Techniques: Comment pp. 678-79

Song-ken Hsu

Monopoly Output under Alternative Spatial Pricing Techniques: Reply pp. 680-81

M L Greenhut and Hiroshi Ohta

Constant-Utility Index Numbers of Real Wages: Comment pp. 682-85

P J Lloyd

Constant-Utility Index Numbers of Real Wages: Reply pp. 686-87

John Pencavel

Valuing Market Benefits and Costs in Related Output and Input Markets pp. 688-96

Dennis Carlton

Uncertainty and the Bidding for Incentive Contracts pp. 697-705

Charles Holt

Price Controls and Optimal Export Policies under Alternative Market Structures pp. 706-14

Richard Just, Andrew Schmitz and David Zilberman

Factor-Market Distortions and Dynamic Optimal Intervention: Comment pp. 715-17

Edward J Ray

Factor-Market Distortions and Dynamic Optimal Intervention: Reply pp. 718-20

Harvey Lapan

The Disequilibrium Model in a Controlled Economy: Comment pp. 721-25

Barbara Katz

The Disequilibrium Model in a Controlled Economy: Comment pp. 726-32

Machiko Nissanke

The Disequilibrium Model in a Controlled Economy: Reply and Further Results pp. 733-38

David H Howard

On the Estimation of Disaggregate Welfare Losses with an Application to Price Distortions in Urban Transport pp. 739-46

Stephen Glaister

Volume 69, issue 3, 1979

Industry Performance Gradient Indexes pp. 249-60

Robert E Dansby and Robert Willig

The "Stationarity" of Shadow Prices of Factors in Project Evaluation, with and without Distortions pp. 261-73

Jagdish N Bhagwati and Henry Wan

Social Security, the Supply of Labor, and Capital Accumulation pp. 274-83

Sheng Cheng Hu

Informative Advertising and Welfare pp. 284-94

Y Kotowitz and F Mathewson

Measurement Errors and the Permanent Income Hypothesis: Evidence from Rural India pp. 295-307

Surjit Bhalla

Approximating Expected Utility by a Function of Mean and Variance pp. 308-17

H Levy and H M Markowtiz

The Emergence of Countercyclical U.S. Fertility pp. 318-28

William P Butz and Michael P Ward

The Rate of Surplus Value, the Organic Composition, and the General Rate of Profit in the U.S. Economy, 1947-67 pp. 329-41

Edward Wolff

Engineering and Econometric Interpretations of Energy-Capital Complementarity pp. 342-54

Ernst R Berndt and David O Wood

Permanent Household Income and Consumption in Urban South America pp. 355-68

Philip Musgrove

Welfare, Remarriage, and Marital Search pp. 369-79

Robert M Hutchens

Layoffs and Alternatives under Trade Unions in U.S. Manufacturing pp. 380-95

James Medoff

Testing the Theory of Social Security and Life Cycle Accumulation pp. 396-410

Laurence Kotlikoff

Job Search and Vacancy Contacts pp. 411-19

John Seater

The Arrow-Lind Theorem in a Continuum Economy pp. 420-22

Roy Gardner

On the Equivalence of Input and Output Market Marshallian Surplus Measures pp. 423-28

Stephen E Jacobsen

Inflation Expectations in the Monetarist Black Box pp. 429-34

Shlomo Maital

The Wealth-Age Relation among the Aged pp. 435-43

Thad W Mirer

The Relationship between Relative Prices and the General Price Level: A Suggested Interpretation pp. 444-47

Alex Cukierman

Exchange Market Pressure in Postwar Brazil: An Application of the Girton-Roper Monetary Model pp. 448-54

Michael Connolly and Jose Dantas da Silveira

Income and Substitution Effects in the Two-Sector Open Economy pp. 455-58

Giora Hanoch and Mordechai Fraenkel

Should Government Subsidize Risky Private Projects? Comment pp. 459-61

Marion B Stewart

Should Government Subsidize Risky Private Projects? Reply pp. 462-64

Joram Mayshar

Consumer's Surplus without Apology: Comment pp. 465-68

George W McKenzie

Consumer's Surplus without Apology: Reply pp. 469-74

Robert Willig

A Note on Optimal Taxation and Administrative Costs pp. 475-80

Shlomo Yitzhaki

Capitalization of Intrajurisdictional Differences in Local Tax Prices: Comment pp. 481-84

Dyer, James C, Iv and Michael D Maher

Capitalization of Intrajurisdictional Differences in Local Tax Prices: Reply pp. 485

Bruce W Hamilton

Volume 69, issue 2, 1979

Applications of Economics to an Imperfect World pp. 1-13

Alfred Kahn

Research on Economic Education: Is It Asking the Right Questions? pp. 14-21

Burton A Weisbrod

Research on Economic Education: How Well Is It Answering the Questions Asked? pp. 22-27

Thomas Johnson

A Confusion of Economists? pp. 28-37

Kearl, J R, et al

Who's in the Labor Force: A Simple Counting Problem? pp. 38-42

Arvil V Adams

Measuring Economic Hardship in the Labor Market pp. 43-47

Diane Werneke

Counting the Labor Force with the Current Population Survey pp. 48-53

Curtis Gilroy

Second Thoughts on Keynesian Economics pp. 54-59

Robert Barro

Evaluating the Non-Market-Clearing Approach pp. 60-63

Peter Howitt

Why Does Aggregate Employment Fluctuate? pp. 64-69

Herschel Grossman

The Productivity of Foreign Resource Inflow to the Soviet Economy pp. 70-75

Padma Desai

Some Systemic Factors Contributing to the Convertible Currency Shortages of Centrally Planned Economies pp. 76-80

Franklyn D Holzman

Temporary Taxes as Macro-Economic Stabilizers pp. 81-85

Walter Dolde

On Modeling the Effects of Government Policies pp. 86-91

Ray Fair

Equilibrium and Welfare in Unregulated Airline Markets pp. 92-95

John C Panzar

The Economic Gradient Method pp. 96-101

Robert Willig and Elizabeth Bailey

Quasi-Walrasian Theories of Unemployment pp. 102-07

Guillermo Calvo

Staggered Wage Setting in a Macro Model pp. 108-13

John Taylor

Backward and Forward Solutions for Economies with Rational Expectations pp. 114-18

Olivier Blanchard

The Potential Impact of Employment Policy on the Unemployment Rate Consistent with Nonaccelerating Inflation pp. 119-23

George Johnson and Arthur Blakemore

Selective Employment Subsidies: Can Okun's Law be Repealed? pp. 124-30

John Bishop and Robert Haveman

Retirement Policies, Employment, and Unemployment pp. 131-36

Ronald Ehrenberg

The Market for Ph.D. Economists: The Academic Sector pp. 137-42

Charles E Scott

Stocks and Flows of Academic Economists pp. 143-47

Barbara B Reagan

Mobility in the Labor Market for Academic Economists pp. 148-53

David E Ault, Gilbert L Rutman and Thomas Stevenson

The Cartelization of World Commodity Markets pp. 154-58

Robert Pindyck

National and International Policies toward Food Security and Price Stabilization pp. 159-63

David Bigman and Shlomo Reutlinger

Measuring the Impact of Primary Commodity Fluctuations on Economic Development: Coffee and Brazil pp. 164-68

F. Gerard Adams, Jere Behrman and Romualdo A Roldan

Robust Stabilization Policies for International Commodity Agreements pp. 169-72

Bruce Gardner

The New Jobs Tax Credit: An Evaluation of the 1977-78 Wage Subsidy Program pp. 173-79

Jeffrey Perloff and Michael L Wachter

Stimulating the Macro Economy through State and Local Governments pp. 180-85

Edward Gramlich

Economic Development and the Theory of International Trade pp. 186-90

Ronald Findlay

Efficiency of LDC Trading Patterns: The Case of Iran pp. 191-95

Hossein Askari, John T Cummings and Gunter Richter

Trade and Employment: Chile in the 1960's pp. 196-201

Vittorio Corbo and Patricio Meller

The Role of a Tax-Based Incomes Policy pp. 202-06

Laurence Seidman

Comparing TIP to Wage Subsidies pp. 207-11

Donald Nichols

Implementation and Design of Tax-Based Incomes Policies pp. 212-15

Richard E Slitor

Welfare Comparisons and Equivalence Scales pp. 216-21

Robert Pollak and Terence J Wales

Comparing Households with Different Structures: The Problem of Equity pp. 222-26

Marilyn E Manser

The Social Security Benefit Structure: Equity Considerations of the Family as Its Basis pp. 227-31

Carol T F Bennett

Financial Policies in Open Economies pp. 232-39

Dale Henderson

The Current State of the Policy-Ineffectiveness Debate pp. 240-45

Bennett McCallum

A Case for Monetary Reform pp. 246-50

James L Pierce

The Economics of the Oceans: Environment, Issues, and Economic Analysis pp. 251-55

Maurice Wilkinson

The Economics of Marine Fisheries Management in the Era of Extended Jurisdiction: The Canadian Perspective pp. 256-60

Parzival Copes

The Economics of the Eastern Bloc Ocean Policy pp. 261-65

Vladimir Kaczynski

Marine Resources: The Economics of U.S. Ocean Policy pp. 266-71

James A Crutchfield

The Outlook for Social Security pp. 272-74

A Haeworth Robertson

Disability Insurance pp. 275-78

Paul N Van de Water

Medicare: Its Financing and Future pp. 279-83

Uwe E Reinhardt

Social Security Financing and Retirement Behavior pp. 284-87

Anthony J Pellechio

Alternative Economic Policies for the Revitalization of U.S. Central Cities pp. 288-92

Cleveland A Chandler and Wilfred L David

Hospital Production--Can Costs be Contained? pp. 293-97

Charles E Anderson

Housing Segregation and Black Employment: Another Look at the Ghetto Disperal Strategy pp. 298-302

Myers, Samuel L, and Kenneth E Phillips

Noncooperative Equilibrium and Market Signalling pp. 303-07

John Riley

Equilibrium and Agency--Inadmissible Agents in the Public Agency Problem pp. 308-12

Stephen Ross

Equilibrium and Adverse Selection pp. 313-17

Charles A Wilson

Stability of the Demand Function for Money: An Unresolved Issue pp. 318-23

Thomas Cargill and Robert A Meyer

Structural and Technological Change in Money Demand pp. 324-29

Charles Lieberman

Some Clues in the Case of the Missing Money pp. 330-34

Gillian Garcia and Simon Pak

Strategic Entry Deterrence pp. 335-38

Steven C Salop

Equilibrium in Product Markets with Imperfect Information pp. 339-45

Joseph Stiglitz

Multiproduct Technology and Market Structure pp. 346-51

Robert Willig

The Performance of Government in Energy Regulations pp. 352-56

Walter J Mead

The Role of the Government in Subsidizing Solar Energy pp. 357-61

Michael D Yokell

Another Look at Energy Conservation pp. 362-68

Lee Schipper

Energy Substitution and National Energy Policy pp. 369-71

Savas Ozatalay, Stephen Grubaugh and Long, Thomas Veach,

Volume 69, issue 1, 1979

Economics among the Sciences pp. 1-13

Tjalling Koopmans

Fertility, Women's Wage Rates, and Labor Supply pp. 14-24

Belton Fleisher and Rhodes, George F,

Appropriative Water Rights and the Efficient Allocation of Resources pp. 25-37

H Stuart Burness and James P Quirk

Optimal Pricing with Intermodal Competition pp. 38-49

Ronald R Braeutigam

On the Information Content of Prices pp. 50-59

Kenneth Garbade, Jay L Pomrenze and William L Silber

An Essay on Monopoly Power and Stable Price Policy pp. 60-72

S Y Wu

Labor Supply Functions in a Poor Agrarian Economy pp. 73-83

Pranab Bardhan

The Design of an Optimal Insurance Policy pp. 84-96

Artur Raviv

Income Redistribution: A Probabilistic Approach pp. 97-105

Michael Intriligator

A Theoretical Foundation for the Gravity Equation pp. 106-16

James Anderson

A Model of the Natural Rate of Unemployment pp. 117-25

Steven C Salop

On the "Importance" of Productivity Change pp. 126-36

Charles R Hulten

Vertical Integration of Successive Oligopolists pp. 137-41

M L Greenhut and Hiroshi Ohta

Charitable Contributions: New Evidence on Household Behavior pp. 142-51

William S Reece

Optimal Financing of the Government's Budget: Taxes, Bonds, or Money? pp. 152-60

Elhanan Helpman and Efraim Sadka

Alternative Theories of Pricing, Distribution, Saving, and Investment pp. 161-65

Hans Brems

The North-South Differential and the Migration of Heterogeneous Labor pp. 166-75

Don Bellante

Short- and Long-Run Effects of Monetary and Fiscal Policies under Flexible Exchange Rates and Perfect Capital Mobility pp. 176-82

Carlos Rodríguez

Hedonic Theory and the Demand for Cable Television pp. 183-89

Bryan Ellickson

On Regulation and Uncertainty: Comment pp. 190-94

Nicholas Rau

On Regulation and Uncertainty: Reply pp. 195-99

Yoram C Peles and Jerome Stein

The Supply of Storage: Stein vs. Snape pp. 200-202

Barry A Goss

Labor Supply under Uncertainty: Note pp. 203-05

Gideon Yaniv

Explaining the Relative Efficiency of Slave Agriculture in the Antebellum South: A Reply to Fogel-Engerman pp. 206-07

Thomas L Haskell

The Relative Efficiency of Slave Agriculture: A Comment pp. 208-12

Donald F Schaefer and Mark D Schmitz

Explaining the Relative Efficiency of Slave Agriculture in the Antebellum South: Comment pp. 213-18

Paul David and Peter Temin

The Efficiency of Slavery: Another Interpretation pp. 219-26

Gavin Wright

Monopoly and the Rate of Extraction of Exhaustible Resources: Note pp. 227-30

Tracy Lewis, Steven Matthews and H Stuart Burness

Monopoly and the Rate of Extraction of Exhaustible Resources: Note pp. 231-33

Gordon Tullock

Monopoly and Crude Oil Extraction pp. 234-39

John J Soladay

Constant-Utility Index Numbers of Real Wages: Revised Estimates pp. 240-43

John Pencavel