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Stock Price Booms and Expected Capital Gains

By Klaus Adam, Albert Marcet, and Johannes Beutel

òòò½Íø Review, August 2017

Investors' subjective capital gains expectations are a key element explaining stock price fluctuations. Survey measures of these expectations display excessive optimism (pessimism) at market peaks (troughs). We formally reject the hypothesis that this is ...

Equilibrium Bids in Sponsored Search Auctions: Theory and Evidence

By Tilman µþö°ù²µ±ð°ù²õ, Ingemar Cox, Martin Pesendorfer, and Vaclav Petricek

òòò½Íø Journal: Microeconomics, November 2013

This paper presents a game theoretic analysis of the generalized second-price auction that the company Overture operated in 2004 to sell sponsored search listings on search engines. We construct a model that embodies few prior assumptions about paramet...

On the Evolution of the Firm Size Distribution: Facts and Theory

By ³¢³Üí²õ M B Cabral and ´³´Ç²õé Mata

òòò½Íø Review, September 2003

Using a comprehensive data set of Portuguese manufacturing firms, we show that the firm size distribution is significantly right-skewed, evolving over time toward a lognormal distribution. We also show that selection accounts for very little of this evolu...

Aid Effectiveness – Opening the Black Box

By ¹ó°ù²¹²Ôç´Ç¾±²õ Bourguignon and Mark Sundberg

òòò½Íø Review, May 2007

Correspondent: Keynes as a Noise Trader

By Robert Piron

Journal of Economic Perspectives, Spring 1991

Consolidation of New Democracy, Mass Attitudes, and Clientelism

By Adi Brender and Allan Drazen

òòò½Íø Review, May 2009

Group Reputations, Stereotypes, and Cooperation in a Repeated Labor Market

By Paul J. Healy

òòò½Íø Review, December 2007

Reputation effects and other-regarding preferences have both been used to predict cooperative outcomes in markets with inefficient equilibria. Existing reputation-building models require either infinite time horizons or publicly observed identities, bu...

The Flattening Firm and Product Market Competition: The Effect of Trade Liberalization on Corporate Hierarchies

By Maria Guadalupe and Julie Wulf

òòò½Íø Journal: Applied Economics, October 2010

This paper establishes a causal effect of product market competition on various characteristics of organizational design. Using a unique panel dataset on firm hierarchies of large US firms (1986-1999) and a quasi-natural experiment (trade liberalization)...

Correspondence

By Richard C. Leone, Bernard Wasow, Earl L. Grinols, David Mustard, William R. Eadington, William Walter Brown, and Christina D. Romer

Journal of Economic Perspectives, Winter 2000

Perspectives on the New Architecture for the US National Accounts

By Michael J. Boskin

òòò½Íø Review, May 2009

Social Security Financing: Facts, Fantasies, Foibles, and Follies

By Robert L. Clark

òòò½Íø Review, May 2004

Selective Trials: A Principal-Agent Approach to Randomized Controlled Experiments

By Sylvain Chassang, Gerard Padró I Miquel, and Erik Snowberg

òòò½Íø Review, June 2012

We study the design of randomized controlled experiments when outcomes are significantly affected by experimental subjects' unobserved effort expenditure. While standard randomized controlled trials (RCTs) are internally consistent, the unobservability o...

Misallocation and the Distribution of Global Volatility

By Maya Eden

òòò½Íø Review, February 2017

Decreasing returns at the macro level are an outcome of efficiency at the micro level. When inputs are scarce, an efficient economy carries out only the most productive projects; when inputs are abundant, the economy implements less productive projects as...

A Test of Game-Theoretic and Behavioral Models of Play in Exchange and Insurance Environments

By Cary A. Deck

òòò½Íø Review, December 2001

Correspondence

By Hans Werner Holub

Journal of Economic Perspectives, Fall 1989

Correspondence regarding: Theory versus Empiricism in Academic Economics: Update and Comparison

Rebalancing Frequency and the Welfare Cost of Inflation

By André C. Silva

òòò½Íø Journal: Macroeconomics, April 2012

Cash-in-advance models usually require agents to reallocate money and bonds in fixed periods. Every month or quarter, for example. I show that fixed periods underestimate the welfare cost of inflation. I use a model in which agents choose how often they e...

How Important Are Idiosyncratic Shocks? Evidence from Labor Supply

By Kjetil Storesletten, Chris I. Telmer, and Amir Yaron

òòò½Íø Review, May 2001

Are Risk Regulators Rational? Evidence from Hazardous Waste Cleanup Decisions

By W. Kip Viscusi and James T. Hamilton

òòò½Íø Review, September 1999

Cracks in the Glass Ceiling: Gender and Promotion in the Economics Profession

By John M. McDowell, Larry D. Singell, and James P. Ziliak

òòò½Íø Review, May 1999

From the Desk of the Managing Editor

[Symposium: 100 Issues of JEP]

By Timothy Taylor

Journal of Economic Perspectives, Spring 2012

Editing isn't "teaching" and it isn't "research," so in the holy trinity of academic responsibilities it is apparently bunched with faculty committees, student advising, and talks to the local Kiwanis club as part of "service." Yet for many economists, ed...