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Stable and Strategy-Proof Matching with Flexible Allotments

By John William Hatfield, Scott Duke Kominers, and Alexander Westkamp

òòò½Íø Review, May 2017

We introduce a framework of matching with flexible allotments that can be used to model firms with cross-division hiring restrictions. Our framework also allows us to nest some prior models of matching with distributional constraints. Building upon our re...

Village and Larger Economies: The Theory and Measurement of the Townsend Thai Project

By Robert M. Townsend

Journal of Economic Perspectives, Fall 2016

I have spent close to 20 years cataloging transactions between households in Thai villages, along with a research team. Just this past summer, we documented a number of ways in which even relatively poor villages have money markets not dissimilar in some ...

The Role of Multilateral Institutions in International Trade Cooperation

By Giovanni Maggi

òòò½Íø Review, March 1999

The World Trade Organization (WFO) lacks the power to directly enforce agreements. It is, therefore, important to understand what role the WTO can play to facilitate international cooperation and whether a multilateral institution can offer distinct advan...

Endogenous Appropriability

By Joshua S. Gans and Scott Stern

òòò½Íø Review, May 2017

Most approaches to entrepreneurship assume that entrepreneurial control over their inventions is critical for success and, in turn, for incentives. Such control is usually supported by regulations that protect intellectual property including patents, copy...

Disagreement and the Stock Market

[Symposium: Behavioral Finance]

By Harrison Hong and Jeremy C. Stein

Journal of Economic Perspectives, Spring 2007

A large catalog of variables with no apparent connection to risk has been shown to forecast stock returns, both in the time series and the cross-section. For instance, we see medium-term momentum and post-earnings drift in returns — the tendency for sto...

Measuring the Impacts of Teachers II: Teacher Value-Added and Student Outcomes in Adulthood

By Raj Chetty, John N. Friedman, and Jonah E. Rockoff

òòò½Íø Review, September 2014

Are teachers' impacts on students' test scores ("value-added") a good measure of their quality? This question has sparked debate partly because of a lack of evidence on whether high value-added (VA) teachers improve students' long-term outcomes. Using sch...

Free Labour for Costly òòò½Íø?

By Theodore C. Bergstrom

Journal of Economic Perspectives, Fall 2001

Efficient Entry in Competing Auctions

By James Albrecht, Pieter A. Gautier, and Susan Vroman

òòò½Íø Review, October 2014

In this paper, we demonstrate the efficiency of seller entry in a model of competing auctions in which we allow for both buyer and seller heterogeneity. This generalizes existing efficiency results in the competitive search literature by simultaneously ...

Sorting through Search and Matching Models in Economics

By Hector Chade, Jan Eeckhout, and Lones Smith

Journal of Economic Literature, June 2017

Toward understanding assortative matching, this is a self-contained introduction to research on search and matching. We first explore the nontransferable and perfectly transferable utility matching paradigms, and then a unifying imperfectly transferable u...

Inflation Expectations, Learning, and Supermarket Prices: Evidence from Survey Experiments

By Alberto Cavallo, Guillermo Cruces, and Ricardo Perez-Truglia

òòò½Íø Journal: Macroeconomics, July 2017

Information frictions play a central role in the formation of household inflation expectations, but there is no consensus about their origins. We address this question with novel evidence from survey experiments. We document two main findings. First, indi...

The Math Gender Gap: The Role of Culture

By Natalia Nollenberger, ±·Ãº°ù¾±²¹ ¸é´Ç»å°ùí²µ³Ü±ð³ú-±Ê±ô²¹²Ô²¹²õ, and Almudena Sevilla

òòò½Íø Review, May 2016

This paper investigates the effect of gender-related culture on the math gender gap by analysing math test scores of second-generation immigrants, who are all exposed to a common set of host country laws and institutions. We find that immigrant girls whos...

Information Gatekeepers on the Internet and the Competitiveness of Homogeneous Product Markets

By Michael R. Baye and John Morgan

òòò½Íø Review, June 2001

We examine the equilibrium interaction between a market for price information (controlled by a gatekeeper) and the homogenous product market it serves. The gatekeeper charges fees to firms that advertise prices on its Internet site and to consumers who ac...

Is There a Trade-Off between Inflation and Output Stabilization?

By Alejandro Justiniano, Giorgio E. Primiceri, and Andrea Tambalotti

òòò½Íø Journal: Macroeconomics, April 2013

We find that the answer is no in an estimated DSGE model of the US economy in which exogenous movements in workers' market power are not a major driver of observed economic fluctuations. If they are, the tension between the conflicting stabilization ob...

Limited Insurance within the Household: Evidence from a Field Experiment in Kenya

By Jonathan Robinson

òòò½Íø Journal: Applied Economics, October 2012

In developing countries, unexpected income shocks are common but informal insurance is typically incomplete. An important question is therefore whether risk-sharing within the household is effective. This paper presents results from a field experiment wit...

Policy Watch: The Marriage Penalty

By James Alm, Stacy Dickert-Conlin, and Leslie A. Whittington

Journal of Economic Perspectives, Summer 1999

Many government programs have implicit penalties or subsidies for marriage. For example, many couples pay higher income taxes when married than their combined tax liabilities as single filers, while many other couples receive a marriage subsidy because th...

Replication and Economics Journal Policies

By Jan H. ±áö´Ú´Ú±ô±ð°ù

òòò½Íø Review, May 2017

Economics journals with reproducibility policies are cited more often than others. For the minority of journals with a mandatory and enforced policy, this is significant when controlling for time and journal effects. To cope with the large variety of soft...

Notes

Journal of Economic Perspectives, Spring 1992

Poverty, Political Freedom, and the Roots of Terrorism

By Alberto Abadie

òòò½Íø Review, May 2006

The Pluralism of Fairness Ideals: An Experimental Approach

By Alexander W. Cappelen, Astri Drange Hole, Erik Ø ³§Ã¸°ù±ð²Ô²õ±ð²Ô, and Bertil Tungodden

òòò½Íø Review, June 2007

A core question in the contemporary debate on distributive justice is how to understand fairness in situations involving production. Important theories of distributive justice, such as strict egalitarianism, liberal egalitarianism, and libertarianism, ...

Who Is (More) Rational?

By Syngjoo Choi, Shachar Kariv, Wieland ²Ñü±ô±ô±ð°ù, and Dan Silverman

òòò½Íø Review, June 2014

Revealed preference theory offers a criterion for decision-making quality: if decisions are high quality then there exists a utility function the choices maximize. We conduct a large-scale experiment to test for consistency with utility maximization. Cons...