蝌蚪网

Entrepreneurship as Experimentation

[Symposium: Entrepreneurship]

By William R. Kerr, Ramana Nanda, and Matthew Rhodes-Kropf

Journal of Economic Perspectives, Summer 2014

Entrepreneurship research is on the rise but many questions about the fundamental nature of entrepreneurship still exist. We argue that entrepreneurship is about experimentation; the probabilities of success are low, extremely skewed, and unknowable until...

Liquidity, Monetary Policy, and the Financial Crisis: A New Monetarist Approach

By Stephen D. Williamson

蝌蚪网 Review, October 2012

A model of public and private liquidity integrates financial intermediation theory with a New Monetarist monetary framework. Non-passive fiscal policy and costs of operating a currency system imply that an optimal policy deviates from the Friedman rule. ...

Anomalies: Parimutuel Betting Markets: Racetracks and Lotteries

By Richard H. Thaler and William T. Ziemba

Journal of Economic Perspectives, Spring 1988

Economists have given great attention to stock markets in their efforts to test the concepts of market efficiency and rationality. Yet wagering markets are, in one key respect, better suited for testing market efficiency and rationality. The advantage of ...

Life Expectancy and Old Age Savings

By Mariacristina De Nardi, Eric French, and John Bailey Jones

蝌蚪网 Review, May 2009

Income Inequality and Progressive Income Taxation in China and India, 1986-2015

By Thomas Piketty and Nancy Qian

蝌蚪网 Journal: Applied Economics, April 2009

This paper evaluates income tax reforms in China and India. The combination of fast income growth and under-indexed tax schedule in China implies the fraction of the Chinese population subject to income tax has increased from less than 0.1 percent in 1...

The Case for Trade Liberalization in Developing Countries

[Symposium: Trade Liberalization and Development]

By Rudiger Dornbusch

Journal of Economic Perspectives, Winter 1992

This paper reviews the actual situation of protection in developing countries, and then discusses the prospective gains from liberalization. Three experiences with liberalization, from three different parts of the world, are sketched: Turkey, Korea, and M...

Estimating the Deterrent Effect of Incarceration Using Sentencing Enhancements

By David S. Abrams

蝌蚪网 Journal: Applied Economics, October 2012

Increasing criminal sanctions may reduce crime through two primary mechanisms: deterrence and incapacitation. Disentangling their effects is crucial for optimal policy setting. I use sentence enhancements due to the introduction of state add-on gun laws...

Rethinking Social Insurance

By Martin Feldstein

蝌蚪网 Review, March 2005

How the Second-Order Free Rider Problem Is Solved in a Small-Scale Society

By Sarah Mathew

蝌蚪网 Review, May 2017

Moralistic punishment enables human cooperation, but an outstanding question is why people voluntarily sanction when they can obtain the benefits of punishment without being enforcers themselves. To address how decentralized societies solve this second-or...

Precautionary Saving and Consumption Fluctuations

By Jonathan A. Parker and Bruce Preston

蝌蚪网 Review, September 2005

This paper uses the consumption Euler equation to derive a decomposition of consumption growth into four sources. These four sources are new information, and three sources of predictable consumption growth: intertemporal substitution, changes in the prefe...

Matching and Money

By Dean Corbae, Ted Temzelides, and Randall Wright

蝌蚪网 Review, May 2002

Chaotic Interest-Rate Rules

By Jess Benhabib, Stephanie 厂肠丑尘颈迟迟-骋谤辞丑茅, and 惭补谤迟铆苍 Uribe

蝌蚪网 Review, May 2002

Taylor Rules in a Model that Satisfies the Natural-Rate Hypothesis

By Charles T. Carlstrom and Timothy S. Fuerst

蝌蚪网 Review, May 2002

The Choice of an Inflation Target Range in a Small Open Economy

By Christopher J. Erceg

蝌蚪网 Review, May 2002

Guess Who's Been Coming to Dinner? Trends in Interracial Marriage over the 20th Century

[Symposium: Household Economics]

By Roland G. Fryer Jr.

Journal of Economic Perspectives, Spring 2007

This paper studies marriages across black, white, and Asian racial lines. Marrying across racial lines is a rare event, even today. Interracial marriages account for approximately 1 percent of white marriages, 5 percent of black marriages, and 14 percent ...

The Natural Rate of Q

By Bill Dupor

蝌蚪网 Review, May 2002

The Fed and the New Economy

By Laurence Ball and Robert R. Tchaidze

蝌蚪网 Review, May 2002

Monetary-Policy Rules and the Great Inflation

By Athanasios Orphanides

蝌蚪网 Review, May 2002

Monetary Policy, Banking Crises, and the Friedman Rule

By Bruce D. Smith

蝌蚪网 Review, May 2002

Excess Asset Returns with Limited Enforcement

By Costas Azariadis and Luisa Lambertini

蝌蚪网 Review, May 2002