The American Economic Review

最新文章

• Racial profiling as a public policy question: Efficiency, equity, and ambiguity AI翻译
  作者：Durlauf, SN
  作者单位：University of Wisconsin System; University of Wisconsin Madison
• William D. Nordhaus AI翻译
  作者：[Anonymous]
• Precautionary saving and consumption fluctuations AI翻译
  作者：Parker, JA; Preston, B
  作者单位：Princeton University; Princeton University; Columbia University
  摘要：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 preferences for consumption, and incomplete markets for consumption insurance. Using household-level data, we implement this decomposition for the average growth rate of consumption expenditures on nondurable goods in the United States from 1982 to...
• Understanding European real exchange rates AI翻译
  作者：Crucini, MJ; Telmer, CI; Zachariadis, M
  作者单位：Vanderbilt University; Carnegie Mellon University; Pompeu Fabra University; University of Cyprus; Louisiana State University System; Louisiana State University
  摘要：We study good-by-good deviations from the Law-of-One-Price (LOP)for over 1,800 retail goods and services between all European Union (EU) countries for the years 1975, 1980, 1985, and 1990. We find that for each of these years, after we control for differences in income and value-added tax (VAT) rates, there are roughly as many overpriced goods as there are underpriced goods between any two EU countries. We also find that good-by-good measures of cross-sectional price dispersion are negatively ...
• The role of dynamic scoring in the federal budget process: Closing the gap between theory and practice AI翻译
  作者：Altshuler, R; Bull, N; Diamond, J; Dowd, T; Moomau, P
  作者单位：Rice University
• Meetings with costly participation: Comment AI翻译
  作者：De Sinopoli, F; Iannantuoni, G
  作者单位：Universidad Carlos III de Madrid; University of Cambridge
• Long-term contracting with Markovian consumers AI翻译
  作者：Battaglini, M
  作者单位：Princeton University
  摘要：To study how a firm can capitalize on a long-term customer relationship, we characterize the optimal contract between a monopolist and a consumer whose preferences follow a Markov process. The optimal contract is nonstationary and has infinite memory, but is described by a simple state variable. Under general conditions, supply converges to the efficient level for any degree of persistence of the types and along any history, though convergence is history-dependent. In contrast, as with constan...
• Why have housing prices gone up? AI翻译
  作者：Glaeser, EL; Gyourko, J; Saks, RE
  作者单位：Harvard University; National Bureau of Economic Research; University of Pennsylvania
• The cyclical behavior of equilibrium unemployment and vacancies AI翻译
  作者：Shimer, R
  作者单位：University of Chicago
  摘要：This paper argues that the textbook search and matching model cannot generate the observed business-cycle-frequency fluctuations in unemployment and job vacancies in response to shocks of a plausible magnitude. In the United States, the standard deviation of the vacancy-unemployment ratio is almost 20 times as large as the standard deviation of average labor productivity, while the search model predicts that the two variables should have nearly the same volatility. A 'shock that changes averag...
• Neuroeconomic foundations of trust and social preferences: Initial evidence AI翻译
  作者：Fehr, E; Fischbacher, U; Kosfeld, M
  作者单位：University of Zurich