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 106, issue 4, 1991

Does Compulsory School Attendance Affect Schooling and Earnings? pp. 979-1014

Joshua Angrist and Alan B. Keueger

Why Are Products Sold on Sale?: Explanations of Pricing Regularities pp. 1015-1038

B. Peter Pashigian and Brian Bowen

Loss Aversion in Riskless Choice: A Reference-Dependent Model pp. 1039-1061

Amos Tversky and Daniel Kahneman

A Stochastic Dynamic Analysis of Parental Sex Preferences and Fertility pp. 1063-1088

Siu Fai Leung

The Politics of Government Decision-Making: A Theory of Regulatory Capture pp. 1089-1127

Jean-Jacques Laffont and Jean Tirole

Testing for Contracting Effects on Employment pp. 1129-1156

Mark Bils

Recent Trends in Insured and Uninsured Unemployment: Is There an Explanation? pp. 1157-1189

Rebecca Blank and David Card

Exchange Rates and Foreign Direct Investment: An Imperfect Capital Markets Approach pp. 1191-1217

Kenneth Froot and Jeremy C. Stein

Sovereign Debt Repurchases: No Cure for Overhang pp. 1219-1235

Jeremy Bulow and Kenneth Rogoff

The Dominant-Firm Advantage in Multiproduct Industries: Evidence from the U. S. Airlines pp. 1237-1266

Severin Borenstein

Trade Inventories and (S,s) pp. 1267-1286

Patricia C. Mosser

Negotiated Trade Restrictions with Private Political Pressure pp. 1287-1307

Robert Feenstra and Tracy Lewis

Market Structure, Marketing Method, and Price Instability pp. 1309-1340

Margaret E. Slade

Employment Risk, Diversification, and Unemployment pp. 1341-1365

George R. Neumann and Robert H. Topel

The Linkage Between Speculative Attack and Target Zone Models of Exchange Rates pp. 1367-1372

Robert P. Flood and Peter Garber

A Model of Dual Labor Markets When Product Demand Is Uncertain pp. 1373-1383

James Rebitzer and Lowell Taylor

Volume 106, issue 3, 1991

Target Zones and Exchange Rate Dynamics pp. 669-682

Paul R. Krugman

State-Dependent Pricing and the Dynamics of Money and Output pp. 683-708

Andrew Caplin and John Leahy

Debt Maturity Structure and Liquidity Risk pp. 709-737

Douglas W. Diamond

Job Queues and Wages pp. 739-768

Harry J. Holzer, Lawrence Katz and Alan Krueger

An Interplant Test of the Efficiency Wage Hypothesis pp. 769-787

Peter Cappelli and Keith Chauvin

Smuggling, Camouflaging, and Market Structure pp. 789-814

Marie Thursby, Richard Jensen and Jerry Thursby

Forecasting Pre-World War I Inflation: The Fisher Effect and the Gold Standard pp. 815-836

Robert Barsky and J. Bradford De Long

Credibility and Stabilization pp. 837-850

Rüdiger Dornbusch

Aggregate Stochastic Implications of the Life Cycle Hypothesis pp. 851-867

Richard H. Clarida

Sources of Intra-Industry Wage Dispersion: How Much Do Employers Matter? pp. 869-884

Erica Groshen

Strategic Uncertainty, Equilibrium Selection, and Coordination Failure in Average Opinion Games pp. 885-910

John van Huyck, Raymond Battalio and Richard O. Beil

Should Marginal Tax Rates be Equalized Through Time? pp. 911-924

Geoffrey Kingston

Spatial Competition and the Core pp. 925-937

Jonathan Hamilton, W. Bentley Macleod and Jacques Thisse

Disability Transfers and the Work Decision of Older Men pp. 939-949

Robert Haveman, Philip de Jong and Barbara Wolfe

Incentives to Innovate in a Cournot Oligopoly pp. 951-961

Flavio Delbono and Vincenzo Denicolo'

Time Inconsistency of Protectionist Programs pp. 963-974

Aaron Tornell

The Euclidean Distance Approach to Continuous Utility Functions pp. 975-977

Ghanshyam Mehta

Volume 106, issue 2, 1991

Introduction pp. i

Robert J. Babro and Paul Romer

The Penn World Table (Mark 5): An Expanded Set of International Comparisons, 1950–1988 pp. 327-368

Robert Summers and Alan Heston

Learning by Doing and the Dynamic Effects of International Trade pp. 369-405

Alwyn Young

Economic Growth in a Cross Section of Countries pp. 407-443

Robert Barro

Equipment Investment and Economic Growth pp. 445-502

J. Bradford De Long and Lawrence H. Summers

The Allocation of Talent: Implications for Growth pp. 503-530

Kevin M. Murphy, Andrei Shleifer and Robert W. Vishny

Economic Integration and Endogenous Growth pp. 531-555

Luis Rivera-Batiz and Paul Romer

Quality Ladders and Product Cycles pp. 557-586

Gene M. Grossman and Elhanan Helpman

Human Capital, Product Quality, and Growth pp. 587-616

Nancy L. Stokey

Increasing Returns, Industrialization, and Indeterminacy of Equilibrium pp. 617-650

Kiminori Matsuyama

History versus Expectations pp. 651-667

Paul Krugman

Volume 106, issue 1, 1991

The Cyclical Behavior of Individual Production Series, 1889–1984 pp. 1-31

Christina D. Romer

Corporate Structure, Liquidity, and Investment: Evidence from Japanese Industrial Groups pp. 33-60

Takeo Hoshi, Anil Kashyap and David Scharfstein

Segregated Schools and the Mobility Hypothesis: A Model of Local Government Discrimination pp. 61-73

Robert Margo

Ownership, Agency, and Wages: An Examination of Franchising in the Fast Food Industry pp. 75-101

Alan Krueger

Externalities and Asymmetric Information pp. 103-121

Jeremy Greenwood and Randolph McAfee

A Test of the Theory of Exhaustible Resources pp. 123-140

Robert Halvorsen and Tim R. Smith

Consumer Rationality and the Status Quo pp. 141-162

Raymond S. Hartman, Michael J. Doane and Chi-Keung Woo

Equilibrium Wage Dispersion and Interindustry Wage Differentials pp. 163-179

James D. Montgomery

Persistent Wage Dispersion and Involuntary Unemployment pp. 181-202

Kevin Lang

Permanent Income, Liquidity, and Adjustments of Automobile Stocks: Evidence from Panel Data pp. 203-230

Pok-Sang Lam

The Threat of Unionization, the Use of Debt, and the Preservation of Shareholder Wealth pp. 231-254

Stephen Bronars and Donald R. Deere

Adverse Selection in Dynamic Moral Hazard pp. 255-275

Ching-to Ma

Consistent Wage Offer and Reservation Wage Distributions pp. 277-288

Michael Sattinger

The Quality of Managers in Centralized Versus Decentralized Organizations pp. 289-295

Raaj K. Sah and Joseph Stiglitz

Entry Deterrence, Divisionalization, and Investment Decisions pp. 297-307

E. C. H. Veendorp

The Enforcement of Equal Opportunity Laws Under Imperfect Information: Affirmative Action and Alternatives pp. 309-326

Shelly Lundberg