American Economic Review

1969 - 2025

Current editor(s): Esther Duflo

From American Economic Association
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Volume 64, issue 6, 1974

Structure of the World Economy: Outline of a Simple Input-Output Formulation pp. 823-34

Wassily Leontief

All for the Best: The Federal Reseve Board's 60th Annual Report pp. 835-50

Edward Kane

On the Irrelevance of Corporate Financial Policy pp. 851-66

Joseph Stiglitz

Unemployment, Inflation, and Monetarism pp. 867-87

Jerome Stein

The Earnings and Promotion of Women Faculty pp. 888-903

George Johnson and Frank Stafford

The Expected Impact of the Wage-Price Freeze on Relative Shares pp. 904-14

Sol S Shalit and Uri Ben-Zion

Pay and Performance in Major League Baseball pp. 915-30

Gerald W Scully

Competitive Interest Payments on Bank Deposits and the Long-Run Demand for Money pp. 931-49

Benjamin Klein

The Effect of Risk on the Investment in Human Capital pp. 950-63

David Levhari and Yoram Weiss

The Measurement of Technical Change Biases with Many Factors of Production pp. 964-76

Hans Binswanger-Mkhize

Household Production Theory, Quality, and the "Hedonic Technique." pp. 977-94

John Muellbauer

Fairness and Envy pp. 995-1005

Allan M Feldman and Alan Kirman

Investment Decisions Under Uncertainty: The "Irreversibility Effect." pp. 1006-12

Claude Henry

Industrial Organization and International Trade: Some Theoretical Considerations pp. 1013-20

Lawrence White

The Economics of Environmental Preservation: Comment pp. 1021-24

Ronald G Cummings and Virgil Norton

The Economics of Environmental Preservation: Comment pp. 1025-29

A Eugene Abrassart and Dale D McFarlane

The Economics of Environmental Preservation: Further Discussion pp. 1030-39

Anthony C Fisher, John V Krutilla and Charles J Cicchetti

Gains from Trade Under Uncertainty pp. 1040-48

Raveendra N Batra and William R Russell

Technological Change, Production, and Investment in Natural Resource Industries pp. 1049-59

Gordon Rausser

Cropsharing Tenancy in Agriculture: Comment pp. 1060-66

David M Newbery

Cropsharing Tenancy in Agriculture: Rejoinder pp. 1067-69

Pranab Bardhan and T. Srinivasan

Incentive Contracts and Competitive Bidding: Comment pp. 1070-71

Colin C Blaydon and Paul W Marshall

Incentive Contracts and Competitive Bidding: Reply pp. 1072-73

David P Baron

Feige and Parkin on the Optimal Quantity of Money pp. 1074-76

Thomas Russell

Population Growth, Agricultural Capital, and the Development of a Dual Economy pp. 1077-85

Yoshio Niho

Comment on Corporate Income Taxes and the Cost of Capital: A Correction pp. 1086-87

Pao Lun Cheng

Capital and Technology Movements and Economic Welfare pp. 1088-1100

Nobuo Minabe

The Foundations of Money Illusion in a Neoclassical Micro-Monetary Model: Errata pp. 1101

Richard Dusansky and Peter J Kalman

Volume 64, issue 4, 1974

The 1974 Report of the President's Council of Economic Advisers: International Issues pp. 523-34

Anne O Krueger

The 1974 Report of the President's Council of Economic Advisers: The Control of Inflation and the Future of the International Monetary System pp. 535-43

David Laidler

The 1974 Report of the President's Council of Economic Advisers: A Critique of Past and Prospective Economic Policies pp. 544-57

Franco Modigliani

The 1974 Report of the President's Council of Economic Advisers: Energy in the Economic Report pp. 558-65

William Nordhaus

Invariant Economic Index Numbers and Canonical Duality: Survey and Synthesis pp. 566-93

Paul Samuelson and S Swamy

Technological Change in the Soviet Collective Farm pp. 594-603

Raveendra N Batra

Investments in Human Capital and Growth in Personal Income 1956-1966 pp. 604-15

Thomas Johnson and Frederick J Hebein

Optimal International Borrowing and Lending pp. 616-30

James A Hanson

On Biased Technological Progress pp. 631-39

Akira Takayama

The Sizes and Types of Cities pp. 640-56

J. Vernon Henderson

Quality Competition, Industry Equilibrium, and Efficiency in the Price-Constrained Airline Market pp. 657-69

George W Douglas and Miller, James C,

Factor Proportions and Economic Rationality in Soviet International Trade 1955-1968 pp. 670-81

Steven Rosefielde

The Interaction Between Local Government and Urban Residential Location pp. 682-96

Richard E Schuler

A Note on the Elasticity of Derived Demand Under Decreasing Returns pp. 697-700

Assaf Razin

A Note on the Structure of Optimal Taxation pp. 701-06

Agnar Sandmo

The Diagrammatic Analysis of Multiple Consumption Externalities pp. 707-14

Edgar Browning

Priorities and Pollution: Comment pp. 715-17

Abba P Lerner

Priorities and Pollution: Reply pp. 718-23

Jerome Stein

An Analysis of Turning Point Forecasts: A Fairly Polite Comment pp. 724-27

Rendigs Fels and C Elton Hinshaw

An Analysis of Turning Point Forecasts: A Polite Reply pp. 728-29

Herman Stekler

Transport Costs and the Static Welfare Costs of Tariffs pp. 730-33

Waters, W G,

The Theory of the Firm in "Long-Run" Equilibrium pp. 734-41

Eugene Silberberg

Relative Efficiency in Wheat Production in the Indian Punjab pp. 742-51

Surjit S Sidhu

Redistribution and the Pareto Criterion pp. 752-57

Harold M Hochman and James D Rodgers

A Note on Welfare Surpluses and Gains From Trade in General Equilibrium pp. 758-62

James Anderson

The Coase Proposition, Information Constraints, and Long-Run Equilibrium pp. 763-72

William Schulze and Ralph d'Arge

The Process Analysis Alternative to Statistical Cost Functions: Comment pp. 773-76

James R Marsden, David E Pingry and Andrew Whinston

The Process Analysis Alternative to Statistical Cost Functions: Reply pp. 777-79

James M Griffin

Price Discrimination by Regulated Motor Carriers: Comment pp. 780-84

M L Greenhut, M J Hwang and Hiroshi Ohta

Price Discrimination by Regulated Motor Carriers: Reply pp. 785-86

Josephine E Olson

On the Durability of Capital Goods Under Imperfect Market Conditions pp. 787-96

Wolfhard Ramm

Commodity Trade and Factor Mobility pp. 797-801

Melvyn B Krauss

Choice Involving Unwanted Risky Events and Optimal Insurance: Comment pp. 802-03

David Salkever

Choice Involving Unwanted Risky Events and Optimal Insurance: Reply pp. 804

Michael Parkin and S Y Wu

The Number of Firms and Competition: Comment pp. 805

Hajime Hori

The Number of Firms and Competition: Reply pp. 806

Eugene Fama and Arthur B Laffer

Volume 64, issue 3, 1974

General Economic Equilibrium: Purpose, Analytic Techniques, Collective Choice pp. 253-72

Kenneth Arrow

Capital Importation and Sectoral Development: A Model Applied to Postwar Puerto Rico pp. 273-90

John J Mingo

The Political Economy of the Rent-Seeking Society pp. 291-303

Anne O Krueger

The Empirical Relationships Between the Dividend and Investment Decisions of Firms pp. 304-18

Eugene Fama

On the Impact of Uncertainty on the Value and Investment of the Neoclassical Firm pp. 319-36

Guy V G Stevens

Land Use and Zoning in an Urban Economy pp. 337-47

William J Stull

The Neoclassical Production Function pp. 348-58

Lowell E Gallaway and Vishwa Shukla

The Social Costs of Input-Market Distortions pp. 359-72

Daniel Wisecarver

Private Incentives and Public Information pp. 373-90

John M Marshall

Testing for the Existence of a Consistent Aggregate Index of Labor Inputs pp. 391-404

Ernst R Berndt and Laurits R Christensen

The Stochastic Structure of the Velocity of Money pp. 405-18

John P Gould and Charles Nelson

Faculty Salaries: Is There Discrimination by Sex, Race, and Discipline? pp. 419-27

Nancy M Gordon, Thomas E Morton and Ina C Braden

The Rationale of the Mean-Standard Deviation Analysis: Comment pp. 428-30

Karl Borch

The Rationale of the Mean-Standard Deviation Analysis: Comment pp. 431-33

G O Bierwag

The Rationale of the Mean-Standard Deviation Analysis: Comment pp. 434-41

Haim Levy

The Rationale of the Mean-Standard Deviation Analysis: Reply and Errata for Original Article pp. 442-50

S C Tsiang

Externalities as Commodities: Comment pp. 451-53

Dolbear, F Trenery,

Externalities as Commodities: Comment pp. 454-59

Talbot Page and John A Ferejohn

Externalities as Commodities: Reply pp. 460-61

Robert A Meyer

On Taxation and the Control of Externalities: Comment pp. 462-66

Thomas H Tietenberg

On Taxation and the Control of Externalities: Comment pp. 467-71

Earl A Thompson and Ronald Batchelder

On Taxation and the Control of Externalities: Reply pp. 472

William Baumol

Consumer Preferences and Gains from Trade pp. 473-77

Yeong-Her Yeh

A Note on the Price Adjustment Mechanism for Rental Housing pp. 478-81

Lawrence B Smith

Phase II, Cost-Push Inflation, and Relative Wages pp. 482-91

Michael L Wachter

Earnings, Employment, and Racial Discrimination: Additional Evidence pp. 492-501

B F Kiker and W Pierce Liles

On Reanalyzing the Harris-Todaro Model: Policy Rankings in the Case of Sector-Specific Sticky Wages pp. 502-08

Jagdish N Bhagwati and T. Srinivasan

The Nature of Quantities in Market Disequilibrium pp. 509-14

Herschel Grossman

The Nature of Quantities in Market Disequilibrium: Comment pp. 515-17

E C H Veendorp

Volume 64, issue 2, 1974

The Economics of Resources or the Resources of Economics pp. 1-14

Robert Solow

The Economics of the Steady State pp. 15-21

Herman Daly

Resources as a Constraint on Growth pp. 22-26

William Nordhaus

A Growth Model with Population Endogenous pp. 27-32

Richard F Kosobud and William D O'Neill

Resource and Amenity Implications of Population Changes pp. 33-38

Ronald G Ridker

The Role of Population in Models of Economic Growth pp. 39-44

Allen C Kelley

The Impact of Population Growth on Employment pp. 45-50

Alan Sweezy and Aaron Owens

The Political Economy of World Petroleum pp. 51-57

James W McKie

Politics, Economics, and World Oil pp. 58-67

M A Adelman

Three Lessons pp. 68-70

Paul W McCracken

A Strange Expansion pp. 71-74

William J Fellner

Lessons from the Current Economic Expansion pp. 75-77

Paul Samuelson

A Plethora of Lessons from the Recent Expansion pp. 78-81

Otto Eckstein

The Legacy of Phase II Price Controls pp. 82-87

Robert F Lanzillotti and Blaine Roberts

Wages and the Pay Board pp. 88-92

Daniel J B Mitchell and Arnold R Weber

The Inflation Problem During Phase III pp. 93-99

Barry Bosworth

Price Controls in 1973: Strategies and Problems pp. 100-04

Mary T Hamilton

Alternatives to Monetary Policy pp. 105-11

James S Duesenberry

Alternative Monetary-Fiscal Policies and Sectoral Credit Flows pp. 112-20

Andrew F Brimmer

The Clouded Crystal Ball pp. 121-24

Robert L Heilbroner

Some Conjectures on Policy Problems of the 1970's pp. 125-28

Kermit Gordon

Economists as Servants of Power pp. 129-32

Samuel Bowles

Some Secular Changes in Business Cycles pp. 133-37

Geoffrey H Moore

Policy Issues in the International Economy of the 1970's pp. 138-40

Hendrik Houthakker

Some Reasons for the Maximin Criterion pp. 141-46

John Rawls

Achieving the Just Polity pp. 147-52

Dennis Mueller

Political Constraints on Contractual Redistribution pp. 153-57

James Buchanan and Winston C Bush

Concepts of Distributional Equity: Discussion pp. 158-61

Alvin K Klevorick

The Concentration of Personal Wealth, 1922-1969 pp. 162-67

James D Smith and Stephen D Franklin

Who Paid the Taxes in 1966? pp. 168-74

Benjamin A Okner and Joseph A Pechman

Income Conditioning in a System of Transfer Programs pp. 175-80

Barry L Friedman and Leonard J Hausman

Sorting Out the Social Grant Programs: An Economist's Criteria pp. 181-89

Charles L Schultze

Cash Versus In-Kind Transfers pp. 190-95

Lester Thurow

Earnings Capacity and the Target Efficiency of Alternative Transfer Programs pp. 196-204

Irwin Garfinkel and Robert Haveman

Conflicting Objectives in Income Maintenance Programs pp. 205-11

Robert Lerman and Alair A Townsend

A New View of Property Tax Incidence pp. 212-21

Henry Aaron

Is a Property Tax on Housing Regressive? pp. 222-29

Richard A Musgrave

The Property Tax: Progressive or Regressive? Discussion pp. 230-31

Harvey E Brazer

The Property Tax: Progressive or Regressive? Discussion pp. 231-32

Dick Netzer

The Administered-Price Thesis Denied: Note pp. 232-34

J Fred Weston, Steven Lustgarten and Nanci Grottke

The Property Tax: Progressive or Regressive? Discussion pp. 232-33

Ann F Friedlander

The Property Tax: Progressive or Regressive? Discussion pp. 233-34

Earl R Rolph

The Property Tax: Progressive or Regressive? Discussion pp. 234-35

George E Peterson

Recent Trends and Long-Run Prospects for Female Earnings pp. 236-42

Victor Fuchs

Education and Home Production pp. 243-50

Arleen Leibowitz

The Effects of Government Expenditures and Taxes on Female Labor pp. 251-56

Michael J Boskin

The Elasticity of Substitution and Cyclical Behavior of Productivity, Wages, and Labor's Share pp. 257-63

Thomas Sargent and Neil Wallace

A Disequilibrium Model of Demand for Factors of Production pp. 264-70

Sherwin Rosen and M Ishaq Nadiri

Multinational Corporations and the International Adjustment Process pp. 271-75

Gary Hufbauer

Competition Policy Toward Multinational Corporations pp. 276-82

Raymond Vernon

Problems and Policies Affecting Labor's Interests pp. 283-88

George H Hildebrand

Prospects and Policy for U.S.-Soviet Trade pp. 289-93

Gregory Grossman

Sino-American Trade Prospects and Policy pp. 294-99

Alexander Eckstein and Bruce Reynolds

Prospects for U.S.-East European Trade pp. 300-06

Alan A Brown, Paul Marer and Egon Neuberger

Capital Controversies: Ancient and Modern pp. 307-16

John Hicks

On the Relevance of the New Economics of the Family pp. 317-19

Gary Becker

Economic Theory and Its Discontents pp. 320-22

Vernon Smith

The State of Theory pp. 323-24

Harry G Johnson

Is the Theory of Competitive Equilibrium With It? pp. 325-29

Tjalling Koopmans

On Stabilization Policy: Goals and Models pp. 330-37

Thomas Muench and Neil Wallace

On Optimal Taxation with Costly Administration pp. 338-45

Walter P Heller and Karl Shell

How Can Experiments Be More Useful? pp. 346-54

Alice Rivlin

The Use of Surveys for Policy Research pp. 355-64

F. Juster

Airline Capacity Limitation Controls: Public Vice or Public Virtue? pp. 365-71

George C Eads

Amtrak in Perspective: Where Goest the Pointless Arrow? pp. 372-77

Edwin P Patton

The Wheel: Should We Reinvent It? pp. 378-83

Hugh S Norton

The Market for Goods and the Market for Ideas pp. 384-91

Ronald Coase

Regulation and Diversity in Communications Media pp. 392-99

William F Baxter

The Economics of the First Amendment: Discussion pp. 400-02

Bruce Owen

Developing Independent Problem-Solving Ability in Elementary Economics pp. 403-07

Rendigs Fels

Computer-Aided Instruction for Large Elementary Courses pp. 408-13

Bernard H Booms and D Lynne Kaltreider

Introducing Freshmen to the Social System pp. 414-19

Kenneth E Boulding and Elise Boulding

The Investment Income Formula of the American Economic Association pp. 420-26

Donald Nichols

What Is Permanent Endowment Income? pp. 427-32

James Tobin

A Plan for the Definition of Endowment Income pp. 433-37

James M Litvack, Burton G Malkiel and Richard E Quandt

Endowment Income, Capital Gains and Inflation Accounting: Discussion pp. 438-41

Robert Eisner

Endowment Income, Capital Gains and Inflation Accounting: Discussion pp. 441-42

Stanley Black

Volume 64, issue 1, 1974

Limited Knowledge and Economic Analysis pp. 1-10

Kenneth Arrow

Myopic Optimizing and Rules of Thumb in a Micro-Model of Industrial Growth pp. 11-23

Richard H Day, Samuel A Morley and Kenneth R Smith

International Capital Movements and the Patterns of Economic Growth pp. 24-36

Yusuke Onitsuka

The Demand and Supply of Durable Goods and Durability pp. 37-55

Richard W Parks

Competitive Price Adjustments: An Empirical Study pp. 56-65

Bennett McCallum

An Economic Model of Production and Investment for Petroleum Reservoirs pp. 66-79

Robert G Kuller and Ronald G Cummings

Can Equalization of Opportunity Reduce Social Mobility? pp. 80-90

John Conlisk

Toward a Theory of Multiple Customs Unions pp. 91-101

Sukesh K Ghosh

The Dynamics of Inflation in Latin America, 1950-1969 pp. 102-14

Robert C Vogel

The Foundations of Money Illusion in a Neoclassical Micro-Monetary Model pp. 115-22

Richard Dusansky and Peter J Kalman

Accounting for the Growth of Output pp. 123-35

Spencer Star

The Stability Properties of Optimal Economic Policies pp. 136-48

Stephen J Turnovsky

Product Liability: The Case of an Asset with Random Life pp. 149-61

John P Brown

Capital Markets and the Dynamics of Growth pp. 162-69

Mathew Shane

Labor Supply Under Uncertainty and the Rate of Unemployment pp. 170-75

Michael J Hartley and Nagesh S Revankar

Default Risk, Homemade Leverage, and the Modigliani-Miller Theorem pp. 176-82

David P Baron

Patent Life and R & D Rivalry pp. 183-87

Morton I Kamien and Nancy L Schwartz

Life Cycle Consumption and Labor Supply: An Explanation of the Relationship Between Income and Consumption Over the Life Cycle pp. 188-94

James Heckman

Money Illusion and the Aggregate Consumption Function: Note pp. 195-99

George D Craig

Semivariance and Stochastic Dominance: A Comparison pp. 200-04

R Burr Porter

The Precautionary Demand for Reserves pp. 205-10

Ernst Baltensperger

Risk Premiums and the Life Cycle Hypothesis pp. 211-16

Roger J Bowden

Private and Social Rates of Return to Education of Academicians: Note pp. 217-19

Lorenzo Figa-Talamanca

Private and Social Rates of Return to Education of Academicians: Note pp. 220-24

John A Tomaske

Housing Market Discrimination, Homeownership, and Savings Behavior: Comment pp. 225-29

John McDonald

Housing Market Discrimination, Homeownership, and Savings Behavior: Reply pp. 230-31

John Kain and John Quigley

Job Quitting and Frictional Unemployment pp. 235-39

J Peter Mattila

Soviet Postwar Economic Growth and Capital-Labor Substitution: Comment pp. 240-42

Krishna Kumar and Ephraim Asher

Soviet Postwar Economic Growth and Capital-Labor Substitution: Reply pp. 243

Martin Weitzman