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 109, issue 4, 1994

The Firm as a Communication Network pp. 809-839

Patrick Bolton and Mathias Dewatripont

A Theory of Debt Based on the Inalienability of Human Capital pp. 841-879

Oliver Hart and John Moore

The Internal Economics of the Firm: Evidence from Personnel Data pp. 881-919

George Baker, Michael Gibbs and Bengt Holmstrom

The Wage Policy of a Firm pp. 921-955

George Baker, Michael Gibbs and Bengt Holmstrom

Efficient and Inefficient Sales of Corporate Control pp. 957-993

Lucian Arye Bebchuk

Politicians and Firms pp. 995-1025

Andrei Shleifer and Robert W. Vishny

A Theory of Debt and Equity: Diversity of Securities and Manager-Shareholder Congruence pp. 1027-1054

Mathias Dewatripont and Jean Tirole

Short-Term versus Long-Term Interests: Capital Structure with Multiple Investors pp. 1055-1084

Erik Berglof and Ernst-Ludwig von Thadden

Incomplete Written Contracts: Undescribable States of Nature pp. 1085-1124

Luca Anderlini and Leonardo Felli

Subjective Performance Measures in Optimal Incentive Contracts pp. 1125-1156

George Baker, Robert Gibbons and Kevin J. Murphy

The Dynamics of Learning with Team Production: Implications for Task Assignment pp. 1157-1184

Margaret Meyer

The Management of Innovation pp. 1185-1209

Philippe Aghion and Jean Tirole

Internal versus External Capital Markets pp. 1211-1230

Robert H. Gertner, David S. Scharfstein and Jeremy C. Stein

Volume 109, issue 3, 1994

The Effect of Sibling Sex Composition on Women's Education and Earnings pp. 531-563

Kristin Butcher and Anne Case

Credit Conditions and the Cyclical Behavior of Inventories pp. 565-592

Anil Kashyap, Owen A. Lamont and Jeremy C. Stein

Output Fluctuations at the Plant Level pp. 593-624

Timothy Bresnahan and Valerie Ramey

Anatomy of Financial Distress: An Examination of Junk-Bond Issuers pp. 625-658

Paul Asquith, Robert Gertner and David Scharfstein

Uninsured Idiosyncratic Risk and Aggregate Saving pp. 659-684

S. Aiyagari

Are There Cultural Effects on Saving? Some Cross-Sectional Evidence pp. 685-699

Christopher Carroll, Byung-Kun Rhee and Changyong Rhee

Tax Incentives and the Decision to Purchase Health Insurance: Evidence from the Self-Employed pp. 701-733

Jonathan Gruber and James Poterba

Credibility of Policies Versus Credibility of Policymakers pp. 735-754

Allan Drazen and Paul Masson

North-South Trade and the Environment pp. 755-787

Brian Copeland and M. Scott Taylor

Reassessing the Social Returns to Equipment Investment pp. 789-802

Alan Auerbach, Kevin A. Hassett and Stephen D. Oliner

Equipment Investment and Economic Growth: Reply pp. 803-807

J. Bradford De Long and Lawrence H. Summers

Volume 109, issue 2, 1994

Monetary Policy, Business Cycles, and the Behavior of Small Manufacturing Firms pp. 309-340

Mark Gertler and Simon Gilchrist

Living by the "Golden Rule": Multimarket Contact in the U. S. Airline Industry pp. 341-366

William Evans and Ioannis Kessides

Changes in the Demand for Skilled Labor within U. S. Manufacturing: Evidence from the Annual Survey of Manufactures pp. 367-397

Eli Berman, John Bound and Zvi Griliches

Why Bank Credit Policies Fluctuate: A Theory and Some Evidence pp. 399-441

Raghuram Rajan

Small Deviations from Maximizing Behavior in a Simple Dynamic Model pp. 443-464

Asher Wolinsky

Distributive Politics and Economic Growth pp. 465-490

Alberto Alesina and Dani Rodrik

Thy Neighbor's Keeper: The Design of a Credit Cooperative with Theory and a Test pp. 491-515

Abhijit Banerjee, Timothy Besley and Timothy Guinnane

An Indicator of Future Inflation Extracted from the Steepness of the Interest Rate Yield Curve Along Its Entire Length pp. 517-530

Jeffrey Frankel and Cara S. Lown

Volume 109, issue 1, 1994

Measuring the Cyclicality of Real Wages: How Important is Composition Bias? pp. 1-25

Gary Solon, Robert Barsky and Jonathan Parker

Employment-Based Health Insurance and Job Mobility: Is there Evidence of Job-Lock? pp. 27-54

Brigitte Madrian

The Saving of the Elderly in Micro and Macro Data pp. 55-81

David Weil

Saving, Growth, and Liquidity Constraints pp. 83-109

Tullio Jappelli and Marco Pagano

How does Future Income Affect Current Consumption? pp. 111-147

Christopher Carroll

Fiscal Paradise: Foreign Tax Havens and American Business pp. 149-182

James R. Hines and Eric M. Rice

Autonomy and Incentives in Chinese State Enterprises pp. 183-209

Theodore Groves, Yongmiao Hong, John McMillan and Barry Naughton

Litigation Settlement and Collusion pp. 211-239

Robert C. Marshall, Michael J. Meurer and Jean-Francois Richard

Permanent and Transitory Components of GNP and Stock Prices pp. 241-265

John Cochrane

The Effects of Labor Unions on Employment, Wages, and Days of Operation: Coal Mining in West Virginia pp. 267-298

William M. Boal and John Pencavel

The Stability of Economic Integration and Endogenous Growth pp. 299-305

Michael Devereux and Beverly Lapham

Economic Integration and Endogenous Growth: An Addendum pp. 307-308

Luis Rivera-Batiz and Paul Romer

Volume 108, issue 4, 1993

Openness and Inflation: Theory and Evidence pp. 869-903

David Romer

Trading Volume and Serial Correlation in Stock Returns pp. 905-939

John Campbell, Sanford Grossman and Jiang Wang

A Simple Theory of Advertising as a Good or Bad pp. 941-964

Gary Becker and Kevin M. Murphy

Secondary Market Prices and Mexico's Brady Deal pp. 965-982

Stijn Claessens and Sweder van Wijnbergen

The Effects of Product Market Competition on Collective Bargaining Agreements: The Case of Foreign Competition in Canada pp. 983-1014

John Abowd and Thomas Lemieux

Linear Adjustment Costs and Seasonal Labor Demand: Evidence from Retail Trade Firms pp. 1015-1042

Patricia Anderson

Automobiles and the National Industrial Recovery Act: Evidence on Industry Complementarities pp. 1043-1071

Russell Cooper and John Haltiwanger

The Comovement of Stock Prices pp. 1073-1104

Robert Pindyck and Julio Rotemberg

Investment in Competitive Equilibrium: The Optimality of Myopic Behavior pp. 1105-1133

John Leahy

How Learning in Financial Markets Generates Excess Volatility and Predictability in Stock Prices pp. 1135-1145

Allan G. Timmermann

Volume 108, issue 3, 1993

The O-Ring Theory of Economic Development pp. 551-575

Michael Kremer

Geographic Localization of Knowledge Spillovers as Evidenced by Patent Citations pp. 577-598

Adam Jaffe, Manuel Trajtenberg and Rebecca Henderson

Corruption pp. 599-617

Andrei Shleifer and Robert W. Vishny

Workings of a City: Location, Education, and Production pp. 619-652

Roland Benabou

Equalizing Exchange: Trade Liberalization and Income Convergence pp. 653-679

Dan Ben-David

Population Growth and Technological Change: One Million B.C. to 1990 pp. 681-716

Michael Kremer

Finance and Growth: Schumpeter Might Be Right pp. 717-737

Robert G. King and Ross Levine

Transitional Dynamics in Two-Sector Models of Endogenous Growth pp. 739-773

Casey Mulligan and Xavier Sala-i-Martin

Substitution and Complementarity in Endogenous Innovation pp. 775-807

Alwyn Young

Capital Formation and Economic Growth in China pp. 809-842

Gregory C. Chow

Does History Matter Only When It Matters Little? The Case of City-Industry Location pp. 843-867

James Rauch

Volume 108, issue 2, 1993

Why Does the Stock Market Fluctuate? pp. 291-311

Robert Barsky and J. Bradford De Long

The Evolution of Buyout Pricing and Financial Structure in the 1980s pp. 313-357

Steven Kaplan and Jeremy C. Stein

Microeconomic Adjustment Hazards and Aggregate Dynamics pp. 359-383

Ricardo Caballero and Eduardo Engel

Taxation and the Structure of Labor Markets: The Case of Corporatism pp. 385-411

Lawrence Summers, Jonathan Gruber and Rodrigo Vergara

The Carnegie Conjecture: Some Empirical Evidence pp. 413-435

Douglas Holtz-Eakin, David Joulfaian and Harvey S. Rosen

Does Fairness Prevent Market Clearing? An Experimental Investigation pp. 437-459

Ernst Fehr, Georg Kirchsteiger and Arno Riedl

Selection in the Market for Slaves: New Orleans, 1830–1860 pp. 461-473

Jonathan Pritchett and Richard M. Chamberlain

Empirical Evidence on Nominal Wage and Price Flexibility pp. 475-491

Timothy Cogley

On Generalized Revealed Preference Analysis pp. 493-506

Jean-Paul Chavas and Thomas L. Cox

Game Shows and Economic Behavior: Risk-Taking on "Card Sharks" pp. 507-521

Robert Gertner

The Role of Promotion in Inducing Specific Human Capital Acquisition pp. 523-534

Canice Prendergast

History Versus Expectations: A Comment pp. 535-542

Kyoji Fukao and Roland Benabou

On Seigniorage, Operating Rules, and Dual Equilibria pp. 543-550

Kiseok Lee and Ronald Ratti

Volume 108, issue 1, 1993

Do Supply Curves Slope Up? pp. 1-32

John Shea

How Computers Have Changed the Wage Structure: Evidence from Microdata, 1984–1989 pp. 33-60

Alan Krueger

Vertical Control and Price Versus Nonprice Competition pp. 61-76

Ralph Winter

Financial Market Imperfections and Business Cycles pp. 77-114

Bruce C. Greenwald and Joseph Stiglitz

The Stock Market, Profit, and Investment pp. 115-136

Olivier Blanchard, Changyong Rhee and Lawrence Summers

Ants, Rationality, and Recruitment pp. 137-156

Alan Kirman

What to Preserve? An Application of Diversity Theory to Crane Conservation pp. 157-183

Martin Weitzman

Partisan Monetary Policies: Presidential Influence Through the Power of Appointment pp. 185-218

Henry Chappell, Thomas M. Havrilesky and Rob Roy McGregor

Sectoral Shifts and Cyclical Unemployment Reconsidered pp. 219-243

S. Lael Brainard and David M. Cutler

Noncooperative Foundations of the Area Monotonic Solution pp. 245-258

Nejat Anbarci

Dyke Maintenance and Other Stories: Some Neglected Types of Public Goods pp. 259-271

Richard Cornes

A New Perspective on Planned Obsolescence pp. 273-283

Michael Waldman

On Strategic Control pp. 285-290

Graciela Chichilnisky