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How Big a Problem is Too Big to Fail? A Review of Gary Stern and Ron Feldman's Too Big to Fail: The Hazards of Bank Bailouts

By Frederic S. Mishkin

Journal of Economic Literature, December 2006

This review essay examines whether too-big-to-fail is as serious a problem as Gary Stern and Ron Feldman contend. This essay argues that Stern and Feldman overstate the importance of the too-big-to-fail problem and do not give enough credit to the FDIC...

What Does Debt Relief Do for Development? Evidence from India's Bailout for Rural Households

By Martin Kanz

òòò½Íø Journal: Applied Economics, October 2016

This paper studies the impact of debt relief, using a natural experiment arising from India's "Agricultural Debt Waiver and Debt Relief Scheme," one of the largest household-level debt relief initiatives in history. I find that debt relief has a substanti...

The Financial Education Fallacy

By Lauren E. Willis

òòò½Íø Review, May 2011

Research to date does not demonstrate a causal chain from financial education to welfare-enhancing financial behavior, in part due to biases, heuristics, and emotional influences on decisions. Yet the search for effective financial education continues. Bu...

Cultural and Institutional Bifurcation: China and Europe Compared

By Avner Greif and Guido Tabellini

òòò½Íø Review, May 2010

Micro and Macro Labor Supply Elasticities: A Reassessment of Conventional Wisdom

By Michael Keane and Richard Rogerson

Journal of Economic Literature, June 2012

The response of aggregate labor supply to various changes in the economic environment is central to many economic issues, especially the optimal design of tax policies. Conventional wisdom based on studies in the 1980s and 1990s has long held that the ana...

The Economics Major as Part of a Liberal Education: The Teagle Report: Comment

By David W. Breneman

òòò½Íø Review, May 2009

Managing Currency Pegs

By Stephanie ³§³¦³ó³¾¾±³Ù³Ù-³Ò°ù´Ç³óé and ²Ñ²¹°ù³Ùí²Ô Uribe

òòò½Íø Review, May 2012

The combination of a fixed exchange rate and downward nominal wage rigidity creates a real rigidity. In turn, this real rigidity makes the economy prone to involuntary unemployment during external crises. This paper presents a graphical analysis of alte...

The Evolution of U.S. Airline Competition

[Symposium: Airline Deregulation]

By Severin Borenstein

Journal of Economic Perspectives, Spring 1992

The next section reviews the evolution of the domestic airline industry since the late 1970s, when it was abruptly freed from most regulatory constraints on pricing, entry, and exit. (International air travel is considered here only as it relates to compe...

The Neuroeconomic Theory of Learning

By Andrew Caplin and Mark Dean

òòò½Íø Review, May 2007

The Task Force Report: The Reasoning behind the Recommendations

[Symposium: Brady Commission Report on the October 1987 Stock Market Crash]

By Bruce C. Greenwald and Jeremy Stein

Journal of Economic Perspectives, Summer 1988

This paper was prepared for the Symposium on the [October 1987] Stock Market Crash, held February 8, 1988, at Princeton University. The article provides a framework for thinking about the recommendations made by the Presidential Task Force on Market Mecha...

Tax Sensitivity and Home State Preferences in Internet Purchasing

By Glenn Ellison and Sara Fisher Ellison

òòò½Íø Journal: Economic Policy, August 2009

Data on memory modules sales are used to explore aspects of e-retail demand. Aggregate sales are examined in state-level regressions. Discrete choice techniques are used to examine (incomplete) hourly sales data from a price comparison site. We find a ...

Rising U.S. Earnings Inequality and Family Labor Supply: The Covariance Structure of Intrafamily Earnings

By Dean R. Hyslop

òòò½Íø Review, September 2001

This paper studies the labor supply contributions to individual and family earnings inequality during the period of rising wage inequality in the early 1980's. Working couples have positively correlated labor market outcomes, which are almost entirely att...

How Should Public Pension Plans Invest?

By Deborah J. Lucas and Stephen P. Zeldes

òòò½Íø Review, May 2009

Non-white Poverty and Macroeconomy: The Impact of Growth

By Gary A. Hoover, Walter Enders, and Donald G. Freeman

òòò½Íø Review, May 2008

Mobility, Targeting, and Private-School Vouchers

By Thomas J. Nechyba

òòò½Íø Review, March 2000

This paper uses general-equilibrium simulations to explore the role of residential mobility in shaping the impact of different private-school voucher policies. The simulations are derived from a three-district model of low-, middle-, and high-income schoo...

Does Competition Among Public Schools Benefit Students and Taxpayers? Reply

By Caroline M. Hoxby

òòò½Íø Review, December 2007

The Perils of Transparency in Bureaucracies

By Alessandro Gavazza and Alessandro Lizzeri

òòò½Íø Review, May 2007

Requiring a Math Skills Unit: Results of a Randomized Experiment

By Susan Pozo and Charles A. Stull

òòò½Íø Review, May 2006

Innovation Diffusion in Heterogeneous Populations: Contagion, Social Influence, and Social Learning

By H. Peyton Young

òòò½Íø Review, December 2009

New ideas, products, and practices take time to diffuse, a fact that is often attributed to some form of heterogeneity among potential adopters. This paper examines three broad classes of diffusion models — contagion, social influence, and social lea...

Sibling Rivalry in Africa

By Jonathan Morduch

òòò½Íø Review, May 2000