The Quarterly Journal of Economics

1886 - 2025

Current editor(s): Robert J. Barro, Lawrence F. Katz, Nathan Nunn, Andrei Shleifer and Stefanie Stantcheva

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Volume 120, issue 4, 2005

A Measure of Media Bias pp. 1191-1237

Tim Groseclose and Jeffrey Milyo

A Protectionist Bias in Majoritarian Politics pp. 1239-1282

Gene M. Grossman and Elhanan Helpman

Strategic Extremism: Why Republicans and Democrats Divide on Religious Values pp. 1283-1330

Edward L. Glaeser, Giacomo Ponzetto and Jesse Shapiro

Which Countries Have State Religions? pp. 1331-1370

Robert Barro and Rachel M. McCleary

Do Lenders Favor Politically Connected Firms? Rent Provision in an Emerging Financial Market pp. 1371-1411

Asim Ijaz Khwaja and Atif Mian

The Politics of Bank Failures: Evidence from Emerging Markets pp. 1413-1444

Craig Brown and I. Serdar Dinç

The Extent of the Market and the Supply of Regulation pp. 1445-1473

Casey Mulligan and Andrei Shleifer

Rent Destruction and the Political Viability of Free Trade Agreements pp. 1475-1506

Emanuel Ornelas

The Politics of Public Provision of Education pp. 1507-1534

Gilat Levy

Majority Rules and Incentives pp. 1535-1568

Bard Harstad

Volume 120, issue 3, 2005

Dividend Taxes and Corporate Behavior: Evidence from the 2003 Dividend Tax Cut pp. 791-833

Raj Chetty and Emmanuel Saez

Do Leaders Matter? National Leadership and Growth Since World War II pp. 835-864

Benjamin Jones and Benjamin Olken

International Trade and Macroeconomic Dynamics with Heterogeneous Firms pp. 865-915

Fabio Ghironi and Marc Melitz

Social Preferences and the Response to Incentives: Evidence from Personnel Data pp. 917-962

Oriana Bandiera, Iwan Barankay and Imran Rasul

Neighbors as Negatives: Relative Earnings and Well-Being pp. 963-1002

Erzo Luttmer

Air Pollution and Infant Health: What Can We Learn from California's Recent Experience? pp. 1003-1030

Janet Currie and Matthew Neidell

The Costs of Low Birth Weight pp. 1031-1083

Douglas Almond, Kenneth Y. Chay and David S. Lee

Precautionary Savings and Self-Selection: Evidence from the German Reunification "Experiment" Abstract: We combine particular features of the German civil service with the unique event of German reunification to test the theory of precautionary savings and to quantify the importance of self-selection into occupations due to differences in risk aversion. In the presence of self-selection, failing to control for risk aversion in empirical tests of precautionary savings results in a bias that could lead to a systematic underestimation of the importance of precautionary savings. We exploit the fact that for individuals from the former German Democratic Republic (GDR) German reunification in 1990 caused an exogenous reassignment of income risks. Our findings suggest that self-selection of risk-averse individuals into low-risk occupations is economically important and decreases aggregate precautionary wealth holdings significantly pp. 1085-1120

Nicola Fuchs-Schündeln and Matthias Schündeln

Do Liquidation Values Affect Financial Contracts? Evidence from Commercial Loan Contracts and Zoning Regulation pp. 1121-1154

Efraim Benmelech, Mark J. Garmaise and Tobias J. Moskowitz

Partisan Competition, Growth, and the Franchise pp. 1155-1189

Humberto Llavador and Robert Oxoby

Volume 120, issue 2, 2005

The Gift of the Dying: The Tragedy of AIDS and the Welfare of Future African Generations pp. 423-466

Alwyn Young

Sexually Transmitted Infections, Sexual Behavior, and the HIV/AIDS Epidemic pp. 467-515

Emily Oster

The Shape of Production Functions and the Direction of Technical Change pp. 517-549

Charles Jones

An Economic Analysis of "Acting White" pp. 551-583

David Austen-Smith and Roland G. Fryer

A Model of Add-On Pricing pp. 585-637

Glenn Ellison

Money Illusion in the Stock Market: The Modigliani-Cohn Hypothesis pp. 639-668

Randolph B. Cohen, Christopher Polk and Tuomo Vuolteenaho

The More the Merrier? The Effect of Family Size and Birth Order on Children's Education pp. 669-700

Sandra Black, Paul Devereux and Kjell G Salvanes

Competition and Innovation: an Inverted-U Relationship pp. 701-728

Philippe Aghion, Nicholas Bloom, Richard Blundell, Rachel Griffith and Peter Howitt

Ownership and Control in Outsourcing to China: Estimating the Property-Rights Theory of the Firm pp. 729-761

Robert Feenstra and Gordon Hanson

Owner-Occupied Housing as a Hedge Against Rent Risk pp. 763-789

Todd Sinai and Nicholas S. Souleles

Volume 120, issue 1, 2005

PPP Strikes Back: Aggregation And the Real Exchange Rate pp. 1-43

Jean Imbs, Haroon Mumtaz, Morten Ravn and Helene Rey

The Political Economy of Hatred pp. 45-86

Edward L. Glaeser

Neighborhood Effects on Crime for Female and Male Youth: Evidence from a Randomized Housing Voucher Experiment pp. 87-130

Jeffrey Kling, Jens Ludwig and Lawrence Katz

Profit Sharing and the Role of Professional Partnerships pp. 131-171

Jonathan Levin and Steven Tadelis

The Effect of Financial Development on Convergence: Theory and Evidence pp. 173-222

Philippe Aghion, Peter Howitt and David Mayer-Foulkes

Does Legal Enforcement Affect Financial Transactions? The Contractual Channel in Private Equity pp. 223-246

Josh Lerner and Antoinette Schoar

Why are Most Funds Open-End? Competition and the Limits of Arbitrage pp. 247-272

Jeremy C. Stein

Love and Money: A Theoretical and Empirical Analysis of Household Sorting and Inequality pp. 273-344

Raquel Fernández, Nezih Guner and John Knowles

Fiscal Shenanigans, Targeted Federal Health Care Funds, and Patient Mortality pp. 345-386

Katherine Baicker and Doug Staiger

Measuring the Effects of Monetary Policy: A Factor-Augmented Vector Autoregressive (FAVAR) Approach pp. 387-422

Ben Bernanke, Jean Boivin and Piotr Eliasz

Volume 119, issue 4, 2004

An Annual Index of U. S. Industrial Production, 1790–1915 pp. 1177-1215

Joseph H. Davis

Tender Offers and Leverage pp. 1217-1248

Holger M. Müller and Fausto Panunzi

Mothers and Sons: Preference Formation and Female Labor Force Dynamics pp. 1249-1299

Raquel Fernández, Alessandra Fogli and Claudia Olivetti

Opportunistic Political Cycles: Test in a Young Democracy Setting pp. 1301-1338

Akhmed Akhmedov and Ekaterina Zhuravskaya

The Regulation of Labor pp. 1339-1382

Juan C. Botero, Simeon Djankov, Rafael La Porta, Florencio Lopez-de-Silanes and Andrei Shleifer

Economic Impacts of New Unionization on Private Sector Employers: 1984–2001 pp. 1383-1441

John DiNardo and David S. Lee

Contractibility and Asset Ownership: On-Board Computers and Governance in U. S. Trucking pp. 1443-1479

George P. Baker and Thomas N. Hubbard

Baby Booms and Drug Busts: Trends in Youth Drug use in the United States, 1975–2000 pp. 1481-1512

Mireille Jacobson

Monetary Discretion, Pricing Complementarity, and Dynamic Multiple Equilibria pp. 1513-1553

Robert G. King and Alexander Wolman

Bank Integration and State Business Cycles pp. 1555-1584

Donald P. Morgan, Bertrand Rime and Philip E. Strahan

Volume 119, issue 3, 2004

The Causes and Consequences of Distinctively Black Names pp. 767-805

Roland G. Fryer and Steven Levitt

Do Voters Affect or Elect Policies? Evidence from the U. S. House pp. 807-859

David S. Lee, Enrico Moretti and Matthew J. Butler

A Cognitive Hierarchy Model of Games pp. 861-898

Colin Camerer, Teck Ho and Juin-Kuan Chong

Measuring Factor Adjustment Costs pp. 899-927

Robert Hall

Does Local Financial Development Matter? pp. 929-969

Luigi Guiso, Paola Sapienza and Luigi Zingales

Getting Closer or Drifting Apart? pp. 971-1009

Tanya Rosenblat and Markus M. Mobius

Choosing How to Choose: Self-Stable Majority Rules and Constitutions pp. 1011-1048

Salvador Barberà and Matthew Jackson

Market Size in Innovation: Theory and Evidence from the Pharmaceutical Industry pp. 1049-1090

Daron Acemoglu and Joshua Linn

Booms, Busts, and Babies' Health pp. 1091-1130

Rajeev Dehejia and Adriana Lleras-Muney

Investor Protection, Optimal Incentives, and Economic Growth pp. 1131-1175

Rui Castro, Gian Luca Clementi and Glenn MacDonald

Volume 119, issue 2, 2004

Contract Design and Self-Control: Theory and Evidence pp. 353-402

Stefano DellaVigna and Ulrike Malmendier

Product Differentiation, Search Costs, and Competition in the Mutual Fund Industry: A Case Study of S&P 500 Index Funds pp. 403-456

Ali Hortacsu and Chad Syverson

Kidney Exchange pp. 457-488

Alvin Roth, Tayfun Sönmez and Utku Unver

Immigrating to Opportunity: Estimating the Effect of School Quality Using a Natural Experiment on Ethiopians in Israel pp. 489-526

Eric Gould, Victor Lavy and M. Daniele Paserman

Static and Dynamic Effects of Health Policy: Evidence from the Vaccine Industry pp. 527-564

Amy Finkelstein

Endogenous Political Institutions pp. 565-611

Philippe Aghion, Alberto Alesina and Francesco Trebbi

Trade and Productivity pp. 613-646

Francisco Alcalá and Antonio Ciccone

Across-Product Versus Within-Product Specialization in International Trade pp. 647-678

Peter K. Schott

Local Capture: Evidence from a Central Government Transfer Program in Uganda pp. 679-705

Ritva Reinikka and Jakob Svensson

Why did the Elites Extend the Suffrage? Democracy and the Scope of Government, with an Application to Britain's "Age of Reform" pp. 707-765

Alessandro Lizzeri and Nicola Persico

Volume 119, issue 1, 2004

The Modern History of Exchange Rate Arrangements: A Reinterpretation pp. 1-48

Carmen Reinhart and Kenneth Rogoff

The Nature and Extent of Discrimination in the Marketplace: Evidence from the Field pp. 49-89

John List

Can Labor Regulation Hinder Economic Performance? Evidence from India pp. 91-134

Timothy Besley and Robin Burgess

Liquidity and Financial Market Runs pp. 135-158

Antonio E. Bernardo and Ivo Welch

Bundling as an Entry Barrier pp. 159-187

Barry Nalebuff

Radio's Impact on Public Spending pp. 189-221

David Strömberg

Waiting to Persuade pp. 223-248

Muhamet Yildiz

How Much Should We Trust Differences-In-Differences Estimates? pp. 249-275

Marianne Bertrand, Esther Duflo and Sendhil Mullainathan

The Fiscal Myth of the Price Level pp. 277-300

Dirk Niepelt

The Effect of Fixed Exchange Rates on Monetary Policy pp. 301-352

Jay Shambaugh