The American Economic Review

最新文章

• AGGREGATION AND SIMPLE DYNAMICS AI翻译
  作者：LEWBEL, A
  摘要：The koyck (geometric) lag or AR(1) specification is a commonly proposed behavioral model, sometimes after differencing. The distribution of koyck lag or AR(1) coefficients across agents in an economy is shown to be completely identified just from the dynamic behavior of aggregate (macroeconomic) data. Aggregate testable implications of an economy composed of agents having koyck lags or AR(l) models are provided Extensions to higher-order and time-varying lags are discussed. Aggregate U.S. cons...
• PRODUCTIVITY, RESEARCH-AND-DEVELOPMENT, AND THE DATA CONSTRAINT AI翻译
  作者：GRILICHES, Z
  作者单位：National Bureau of Economic Research
• EVOLUTION OF TIME PREFERENCE BY NATURAL-SELECTION AI翻译
  作者：ROGERS, AR
  摘要：This paper entertains the hypothesis that human time preferences are in evolutionary equilibrium (i.e. that no mutation changing time preferences could be favored by natural selection). This hypothesis implies that the marginal rate of substitution (MRS) holding Darwinian fitness constant must equal the MRS holding utility constant. Furthermore, in a market economy the latter must equal the MRS in exchange. Exploiting these principles, I find that the long-term real interest rate should equal ...
• PSYCHOLOGY AND SAVINGS POLICIES AI翻译
  作者：THALER, RH
• THE GREAT IRISH FAMINE AND POPULATION - THE LONG VIEW AI翻译
  作者：GUINNANE, TW
• EARNINGS UNCERTAINTY AND AGGREGATE WEALTH-ACCUMULATION - COMMENT AI翻译
  作者：IRVINE, I; WANG, SS
  作者单位：University of Hong Kong
• METHODOLOGICAL INDIVIDUALISM AND SOCIAL KNOWLEDGE AI翻译
  作者：ARROW, KJ
• HUMAN-CAPITAL, FAMILY-PLANNING, AND THEIR EFFECTS ON POPULATION-GROWTH AI翻译
  作者：SCHULTZ, TP
• BUSINESS AS USUAL, MARKET CRASHES, AND WISDOM AFTER THE FACT AI翻译
  作者：CAPLIN, A; LEAHY, J
  作者单位：Harvard University
  摘要：We present a three-stage model of market dynamics. In the first stage, routine behavior tends to keep information of common interest trapped in private hands. In the second stage, private information reaches a threshold that triggers some agents to alter their behavior; these actions release information to the market. The final stage involves the market's response to this news as other participants react to the initial departure from routine behavior. We present an application to industry inve...
• SYSTEMATIC-ERRORS AND THE THEORY OF NATURAL-SELECTION AI翻译
  作者：WALDMAN, M
  摘要：This paper derives two main results. First, in a world where inheritance is sexual as opposed to asexual ''second-best'' adaptations can be evolutionarily stable. That is, the adaptation selected need not be the optimal solution to the evolutionary problem at hand. Second, I apply this result to show that natural selection provides a potential explanation for why in many settings humans commit errors that are systematic in nature.