The Review of Economics and Statistics

1969 - 2025

Current editor(s): Pierre Azoulay, Olivier Coibion, Will Dobbie, Raymond Fisman, Benjamin R. Handel, Brian A. Jacob, Kareen Rozen, Xiaoxia Shi, Tavneet Suri and Yi Xu

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Volume 78, issue 4, 1996

Human Capital Pricing Equations with an Application to Estimating the Effect of Schooling Quality on Earnings pp. 562-610

James Heckman, Anne Layne-Farrar and Petra Todd

Aggregation and the Estimated Effects of School Resources pp. 611-27

Eric Hanushek, Steven Rivkin and Lori Taylor

School Expenditures and Post-schooling Earnings: Evidence from High School and Beyond pp. 628-37

Jeffrey Grogger

Do School Resources Matter Only for Older Workers? pp. 638-52

Julian R Betts

The Effect of Measured School Inputs on Academic Achievement: Evidence form the 1920s, 1930s and 1940s Birth Cohorts pp. 653-64

Susanna Loeb and John Bound

Using Siblings to Estimate the Effect of School Quality on Wages pp. 665-71

Joseph Altonji and Thomas A Dunn

College Choice and Wages: Estimates Using Data on Female Twins pp. 672-85

Jere Behrman, Mark Rosenzweig and Paul Taubman

On the Rate of Return to Schooling Quality pp. 686-91

George Johnson and Frank Stafford

The Effects of Family Characteristics on the Return to Education pp. 692-704

Joseph Altonji and Thomas A Dunn

Modeling Earnings Measurement Error: A Multiple Imputation Approach pp. 705-17

David Brownstone and Robert Valletta

Demand Estimation with Expenditure Measurement Errors on the Left and Right Hand Side pp. 718-25

Arthur Lewbel

Finding Cointegration Rank in High Dimensional Systems Using the Johansen Test: An Illustration Using Data Based Monte Carlo Simulations pp. 726-32

Mun Ho and Bent Sorensen

Degrees Matter: New Evidence on Sheepskin Effects in the Returns to Education pp. 733-40

David Jaeger and Marianne Page

Wage Declines among Older Men pp. 740-48

Richard Johnson and David Neumark

Fixes: Of the Forward Discount Puzzle pp. 748-52

Robert Flood and Andrew Rose

Volume 78, issue 3, 1996

Consumption, Import Prices, and the Demand for Imported Consumer Durables: A Structural Econometric Investigation pp. 369-74

Richard Clarida

The Risky Spread, Investment, and Monetary Policy Transmission: Evidence on the Role of Asymmetric Information pp. 375-83

Serena Ng and Huntley Schaller

Do Economies Converge? Evidence from a Panel of U.S. States pp. 384-88

Paul Evans and Georgios Karras

The Employment and Wage Effects of Oil Price Changes: A Sectoral Analysis pp. 389-400

Michael Keane and Eswar Prasad

Antitrust Settlements and Trial Outcomes pp. 401-09

Jeffrey Perloff, Daniel L Rubinfeld and Paul Ruud

Inequality in Male and Female Earnings: The Role of Hours and Wages pp. 410-20

Denise Doiron and Garry Barrett

Alternative Models of Choice under Uncertainty and Demand for Health Insurance pp. 421-27

M Susan Marquis and Martin R Holmer

Public Subsidies, Private Provision of Care and Living Arrangements of the Elderly pp. 428-40

Thomas J Hoerger, Gabriel Picone and Frank Sloan

Loss Aversion and Adaptation in the Labor Market: Empirical Indifference Functions and Labor Supply pp. 441-50

Lucia Dunn

Formation of Risk Beliefs, Joint Production and Willingness to Pay to Avoid Skin Cancer pp. 451-63

Mark Dickie and Shelby Gerking

Income Effects on the Trade Balance pp. 464-69

Yoonbai Kim

Hospital Costs and Excess Bed Capacity: A Statistical Analysis pp. 470-81

Theodore E Keeler and John Ying

Organizational Structure and Expected Output at Nuclear Power Plants pp. 482-88

Geoffrey Rothwell

The Evolution of Markets and Entry, Exit and Survival of Firms pp. 489-98

Rajshree Agarwal and Michael Gort

Efficiency of Educational Production: An Analysis of New York School Districts pp. 499-509

John Ruggiero

Section 337 and the Protection of Intellectual Property in the United States: The Complainants and the Impact pp. 510-20

John Mutti and Bernard Yeung

Trade Liberalisation and Plant Exit in New Zealand Manufacturing pp. 521-29

John Gibson and Richard Harris

"Swap" Covered Interest Parity in Long-Date Capital Markets pp. 530-38

Donna J Fletcher and Larry W Taylor

On the Estimation of Demand Systems through Consumption Efficiency pp. 539-43

Eduardo Ley and Mark Steel

Market Price and Income Elasticities of New Vehicles Demand pp. 543-47

Pat McCarthy

Does Union Membership Matter? The Effect of Establishment Union Density on the Union Wage Differential pp. 547-57

Kevin Reilly

Volume 78, issue 2, 1996

Intellectual Property Protection and U.S. Foreign Direct Investment pp. 181-86

Jeong-Yeon Lee and Edwin Mansfield

The Effects of R&D, Foreign Technology Purchase, and Domestic and International Spillovers on Productivity in Indian Firms pp. 187-99

Rakesh Basant and Brian Fikkert

An Econometric Analysis of U.S. Foreign Direct Investment pp. 200-207

Ray Barrell and Nigel Pain

Further Evidence on Japanese Direct Investment in U.S. Manufacturing pp. 208-13

Thomas A Pugel, Erik S Kragas and Yui Kimura

Japanese Firms and the Decision to Invest Abroad: Business Groups and Regional Core Networks pp. 214-20

Rene Belderbos and Leo Sleuwaegen

Platform Investments and Volatility Exchange Rates: Direct Investment in the U.S. by Japanese Electronic Companies pp. 221-31

Bruce Kogut and Sea Jin Chang

Firm Size and the Nature of Innovation within Industries: The Case of Process and Product R&D pp. 232-43

Wesley M Cohen and Steven Klepper

Aggregate Demand Shifts, Income Distribution, and the Linder Hypothesis pp. 244-50

Joseph Francois and Seth Kaplan

Estimating an Emissions Supply Function from Accelerated Vehicle Retirement Programs pp. 251-65

Anna Alberini, Winston Harrington and Virginia McConnell

Valuing the Characteristics of Natural Gas Vehicles: An Implicit Markets Approach pp. 266-76

Margaret Walls

The Welfare Effects of Disarmament on the United States under NATO and the Warsaw Pact pp. 277-85

Minora Okamura

Growth, Economies of Scale, and Targeting in Japan (1955-1990) pp. 286-95

Richard Beason and David Weinstein

Testing the Rationality of Survey Data Using the Weighted Double-Bootstrapped Method of Moments pp. 296-302

Jinook Jeong and G S Maddala

Designing VAT Systems: Some Efficiency Considerations pp. 303-08

Ali Agha and Jonathan Haughton

Production Functions with Factor-Oriented Scale Sensitivity pp. 309-20

Chu-Ping C Vijverberg and John C H Fei

Habit Formation and Intertemporal Substitution in Individual Food Consumption pp. 321-28

Narayan Y Naik and Michael J Moore

Economic Behavior under Uncertainty: A Joint Analysis of Risk Preferences and Technology pp. 329-35

Jean-Paul Chavas and Matthew Holt

Randomization as an Instrumental Variable: Notes pp. 336-41

James Heckman

The Effect of News on Bond Prices: Evidence from the United Kingdom, 1900-1920 pp. 341-44

Douglas Elmendorf, Mary L Hirschfeld and David Weil

Long-Run Money Demand in Canada: In Search of Stability pp. 345-48

Alfred Haug and Robert Lucas

A Logit Decomposition Analysis of Occupational Segregation: Results for the 1970s and 1980s pp. 348-55

William E Spriggs and Rhonda M Williams

Estimating the Correlation in Censored Probit Models pp. 356-58

J. Butler

A System of Demand Equations Satisfying Effectively Global Regularity Conditions pp. 359-64

Russel Cooper and Keith McLaren

Equivalence of the Standard and the Modified Switching Regression Models pp. 365-66

Chunrong Ai and Steven Cassou

A Note on "State Characteristics and the Location of Foreign Direct Investment within the United States." pp. 367-68

Joseph Friedman, Hung-Gay Fung, Daniel A. Gerlowski and Jonathan Silberman

Volume 78, issue 1, 1996

The Financial Accelerator and the Flight to Quality pp. 1-15

Ben Bernanke, Mark Gertler and Simon Gilchrist

The Effects of Monetary Policy Shocks: Evidence from the Flow of Funds pp. 16-34

Lawrence Christiano, Martin Eichenbaum and Charles Evans

Money, Prices, Interest Rates and the Business Cycle pp. 35-53

Robert King and Mark Watson

What Have Macroeconomists Learned about Business Cycles form the Study of Seasonal Cycles? pp. 54-66

Jeffrey Miron and J Joseph Beaulieu

Measuring Business Cycles: A Modern Perspective pp. 67-77

Francis Diebold and Glenn Rudebusch

Evidence on Macroeconomic Complementarities pp. 78-93

Russell Cooper and John Haltiwanger

A Dynamic Structural Model for Stock Return Volatility and Trading Volume pp. 94-110

William Brock and Blake Lebaron

An Analysis of the Real Interest Rate under Regime Shifts pp. 111-25

René Garcia and Pierre Perron

A Simple Time Series Test of Endogenous vs. Exogenous Growth Models: An Application to the United States pp. 126-34

Narayana Kocherlakota and Kei-Mu Yi

Productivity across Industries and Countries: Time Series Theory and Evidence pp. 135-46

Andrew Bernard and Charles Jones

Are Consumer Durables Important for Business Cycles? pp. 147-55

Marianne Baxter

Why Did the Nikkei Crash? Expanding the Scope of Expectations Data Collection pp. 156-64

Robert Shiller, Fumiko Kon-Ya and Yoshiro Tsutsui

Who Leaves? The Outmigration of the Foreign-Born pp. 165-76

George Borjas and Bernt Bratsberg

The Effect of Public Capital in State-Level Production Functions Reconsidered pp. 177-80

Teresa Garcia-Mila, Therese J McGuire and Robert Porter