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 104, issue 4, 1989

Persistent Trade Effects of Large Exchange Rate Shocks pp. 635-654

Richard Baldwin and Paul Krugman

Efficient Capital Markets, Inefficient Firms: A Model of Myopic Corporate Behavior pp. 655-669

Jeremy C. Stein

The Growth and Failure of U. S. Manufacturing Plants pp. 671-698

Timothy Dunne, Mark Roberts and Larry Samuelson

Pricing in a Customer Market pp. 699-718

Mark Bils

A Behavioral Explanation for Nominal Wage Rigidity During the Great Depression pp. 719-735

Anthony Patrick O'Brien

Monopolistic Competition as a Foundation for Keynesian Macroeconomic Models pp. 737-752

Richard Startz

An Outside Option Experiment pp. 753-770

Ken Binmore, Avner Shared and John Sutton

Strikes, Free Riders, and Social Customs pp. 771-785

Robin Naylor

An Aggregate Model of Technical Change pp. 787-821

John Conlisk

The Harm from Insider Trading and Informed Speculation pp. 823-845

Michael Manove

Seasonal Fluctuations and the Demand for Money pp. 847-861

Miquel Faig

Aspects of R&D Subsidization pp. 863-873

Richard Romano

Volume 104, issue 3, 1989

Price Flexibility, Credit Availability, and Economic Fluctuations: Evidence from the United States, 1894–1909 pp. 429-452

Charles Calomiris and R. Glenn Hubbard

Investment in Segmented Capital Markets pp. 453-462

Ijaz Nabi

Limited Rationality and Strategic Complements: The Implications for Macroeconomics pp. 463-483

John Haltiwanger and Michael Waldman

Seniority and Distribution in a Two-Worker Trade Union pp. 485-505

Peter Kuhn and Jacques Robert

Are Prices Too Sticky? pp. 507-524

Laurence Ball and David Romer

Workers' Trust Funds and the Logic of Wage Profiles pp. 525-536

George Akerlof and Lawrence Katz

Income Distribution, Market Size, and Industrialization pp. 537-564

Kevin M. Murphy, Andrei Shleifer and Robert Vishny

Efficient Wage Bargaining as a Repeated Game pp. 565-588

Maria Paz Espinosa and Changyong Rhee

Renegotiation and Information Revelation Over Time: The Case of Optimal Labor Contracts pp. 589-619

Mathias Dewatripont

Exact Aggregation and a Representative Consumer pp. 621-633

Arthur Lewbel

Volume 104, issue 2, 1989

Hysteresis, Import Penetration, and Exchange Rate Pass-Through pp. 205-228

Avinash Dixit

Repeated Insurance Contracts with Adverse Selection and Limited Commitment pp. 229-253

Arthur J. Hosios and Michael Peters

Trading Volume and Asset Liquidity pp. 255-274

Marco Pagano

Optimal Consumption with Stochastic Income: Deviations from Certainty Equivalence pp. 275-298

Stephen Zeldes

Intermediation Under Trade Restrictions pp. 299-324

G. Michael Winkler

Why a Stubborn Conservative would Run a Deficit: Policy with Time-Inconsistent Preferences pp. 325-345

Torsten Persson and Lars E. O. Svensson

Veto Threats: Rhetoric in a Bargaining Game pp. 347-369

Steven Matthews

Multiproduct Monopoly, Commodity Bundling, and Correlation of Values pp. 371-383

Randolph McAfee, John McMillan and Michael D. Whinston

An Elementary Proof of the Existence of a Competitive Equilibrium in a Special Case pp. 385-389

Rosa Barbolla and Luis Corchon

When is Inducing Self-Selection Suboptimal for a Monopolist? pp. 391-397

Stephen W. Salant

Optimal Auditing, Insurance, and Redistribution pp. 399-415

Dilip Mookherjee and Ivan Png

Simultaneous Signaling in an Oligopoly Model pp. 417-427

George Mailath

Volume 104, issue 1, 1989

Efficiency with Costly Information: A Study of Mutual Fund Performance, 1965–1984 pp. 1-23

Richard A. Ippolito

Bargaining and Strikes pp. 25-43

Oliver Hart

Service-Induced Campaign Contributions and the Electoral Equilibrium pp. 45-72

David P. Baron

The Cyclical Behavior of Strategic Inventories pp. 73-97

Julio Rotemberg and Garth Saloner

Divergent Expectations as a Cause of Disagreement in Bargaining: Evidence from a Comparison of Arbitration Schemes pp. 99-120

Henry S. Farber and Max H. Bazerman

A Theory of Wage Dispersion and Job Market Segmentation pp. 121-137

Martin Weitzman

Forward Discount Bias: Is it an Exchange Risk Premium? pp. 139-161

Kenneth Froot and Jeffrey Frankel

Can There Be Short-Period Deterministic Cycles When People Are Long Lived? pp. 163-185

S. Aiyagari

More on the Preservation of Preference Proximity and Anonymous Social Choice pp. 187-190

Shmuel Nitzan

Some Further Remarks on Preference Proximity pp. 191-193

Nick Baigent

Trade and Insurance with Imperfectly Observed Outcomes pp. 195-203

Avinash Dixit

Volume 103, issue 4, 1988

A Competitive Efficiency Wage Model with Keynesian Features pp. 609-645

Charles Kahn and Dilip Mookherjee

Appropriability and Market Structure in a Stochastic Invention Model pp. 647-671

R. Isaac and Stanley Reynolds

Second-Sourcing as a Commitment: Monopoly Incentives to Attract Competition pp. 673-694

Joseph Farrell and Nancy Gallini

Multiple Expectational Equilibria Under Monopolistic Competition pp. 695-713

Nobuhiro Kiyotaki

Frictional Unemployment and the Role of Industrial Diversity pp. 715-728

Curtis J. Simon

Price Setting and Competition in a Simple Duopoly Model pp. 729-739

Douglas Gale

The Relationship Between Unemployment Spells and Reservation Wages as a Test of Search Theory pp. 741-765

Stephen R. G. Jones

Infant-Industry Protection Reconsidered: The Case of Informational Barriers to Entry pp. 767-787

Gene M. Grossman and Henrik Horn

An Empirical Note on the Term Structure and Interest Rate Stabilization Policies pp. 789-792

Peter Kugler

A Note on Enforcement Uncertainty and Taxpayer Compliance pp. 793-798

Jennifer Reinganum and Louis L. Wilde

Volume 103, issue 3, 1988

Coordinating Coordination Failures in Keynesian Models pp. 441-463

Russell Cooper and Andrew John

Market Imperfections, Labor Management, and Earnings Differentials in a Developing Country: Theory and Evidence from Yugoslavia pp. 465-478

Saul Estrin, Robert Moore and Jan Svejnar

Option Valuation of Claims on Real Assets: The Case of Offshore Petroleum Leases pp. 479-508

James L. Paddock, Daniel R. Siegel and James Smith

A Theoretical Explanation of Some Stylized Facts of Economic Growth pp. 509-526

Arvind Panagariya

Complementarity and the Discount Rate for Public Investment pp. 527-541

David Burgess

Consumer's Surplus as an Exact Approximation When Prices Are Appropriately Deflated pp. 543-553

Martin Weitzman

Vertical Restraints in a Model of Vertical Differentiation pp. 555-570

Patrick Bolton and Giacomo Bonanno

Differences in Education and Earnings Across Racial and Ethnic Groups: Tastes, Discrimination, and Investments in Child Quality pp. 571-597

Barry Chiswick

Trade and Industrial Policy Under Oligopoly: Comment pp. 599-602

Wilfrid W. Csaplar and Edward Tower

Trade and Industrial Policy Under Oligopoly: Reply pp. 603-607

Jonathan Eaton and Gene M. Grossman

Volume 103, issue 2, 1988

Stability of Equilibria with Externalities pp. 261-277

Peter Howitt and Randolph McAfee

Partnerships pp. 279-297

Joseph Farrell and Suzanne Scotchmer

Is Equilibrium Indexation Efficient? pp. 299-311

Laurence Ball

Sources of Economic Fluctuations in the United States pp. 313-332

Ray C. Fair

An Intertemporal Model of Industrial Exit pp. 333-344

Murray Frank

Vertical Mergers and Market Foreclosure pp. 345-356

Michael Salinger

On the Efficiency of Competitive Markets for Operating Licenses pp. 357-385

Severin Borenstein

The Influence of Attitudes Toward Risk on the Value of Forecasting pp. 387-396

Roger Blair and Richard Romano

Optimism Invites Deception pp. 397-407

Franklin Allen and Gerald R. Faulhaber

Rational Rationing in Stackelberg Equilibria pp. 409-414

Marcel Boyer and Michel Moreaux

Short-Run Models and Long-Run Forecasts: A Note on the Permanence of Output Fluctuations pp. 415-424

Joseph Gagnon

On the Observational Equivalence of Managerial Contracts Under Conditions of Moral Hazard and Self-Selection pp. 425-428

Kathleen M. Hagerty and Daniel R. Siegel

Equilibrium Inflation as Determined by a Policy Committee pp. 429-434

Richard Cothren

Real Shocks, Efficient Risk Sharing, and the Duration of Labor Contracts pp. 435-440

Leif Danziger

Volume 103, issue 1, 1988

A Reformulation of the Economic Theory of Fertility pp. 1-25

Gary Becker and Robert Barro

Real Balances, the Exchange Rate, and Indexation: Real Variables in Disinflation pp. 27-49

Stanley Fischer

A Time Series Analysis of Representative Agent Models of Consumption and Leisure Choice Under Uncertainty pp. 51-78

Martin Eichenbaum, Lars Peter Hansen and Kenneth J. Singleton

Foreign Counterfeiting of Status Goods pp. 79-100

Gene M. Grossman and Carl Shapiro

Signaling in Credit Markets pp. 101-129

Hellmuth Milde and John G. Riley

Quality Change Under Trade Restraints in Japanese Autos pp. 131-146

Robert Feenstra

Business Cycles With Costly Search and Recruiting pp. 147-165

Peter Howitt

Efficient Regulation of Environmental Health Risks pp. 167-178

Erik Lichtenberg and David Zilberman

Group Size Effects in Public Goods Provision: The Voluntary Contributions Mechanism pp. 179-199

R. Isaac and James Walker

Can the Share Economy Conquer Stagflation? pp. 201-217

William Nordhaus

Comment on "Can the Share Economy Conquer Stagflation?" pp. 219-223

Martin Weitzman

An Empirical Estimate of Corporate Tax Refundability and Effective Tax Rates pp. 225-231

Jack Mintz

On "Small Sample" Properties of Experience Rating Insurance Contracts pp. 233-243

Samuel Gal and Michael Landsberger

Quality in Contestable Markets: A Historical Problem? pp. 245-249

Salim Rashid

Empirical Examinations of the Information Sets of Economic Agents pp. 251-259

Nils Gottfries and Torsten Persson