Front Matter
(pp. i–viii)
American Economic Review
ISSN 0002-8282 (Print) | ISSN 1944-7981 (Online)
Vol. 103, No. 3, May 2013
Find articles in this issue
President's Foreword
(pp. xi–xii)
Editor's Introduction
(pp. xiii–xiv)
A Nation of Gamblers: Real Estate Speculation and American History
(pp. 1–42)
Glass-Steagall: A Requiem
(pp. 43–47)
Shifting Mandates: The Federal Reserve's First Centennial
(pp. 48–54)
The Most Dangerous Idea in Federal Reserve History: Monetary Policy Doesn't Matter
(pp. 55–60)
Not Just the Great Contraction: Friedman and Schwartz's A Monetary History of the United States 1867 to 1960
(pp. 61–65)
The Missing Transmission Mechanism in the Monetary Explanation of the Great Depression
(pp. 66–72)
Shadowy Banks and Financial Contagion during the Great Depression: A Retrospective on Friedman and Schwartz
(pp. 73–78)
Married to Intolerance: Attitudes toward Intermarriage in Germany, 1900-2006
(pp. 79–85)
The Transmission of Democracy: From the Village to the Nation-State
(pp. 86–92)
The Persistence of Inferior Cultural-Institutional Conventions
(pp. 93–98)
Cyclical Variation in Labor Hours and Productivity Using the ATUS
(pp. 99–104)
Comparisons of Weekly Hours over the Past Century and the Importance of Work-Sharing Policies in the 1930s
(pp. 105–10)
The Life-Cycle Profile of Time Spent on Job Search
(pp. 111–16)
Growth Forecast Errors and Fiscal Multipliers
(pp. 117–20)
Using State Pension Shocks to Estimate Fiscal Multipliers since the Great Recession
(pp. 121–24)
How Much Would US Style Fiscal Integration Buffer European Unemployment and Income Shocks? (A Comparative Empirical Analysis)
(pp. 125–28)
Are Government Spending Multipliers Greater during Periods of Slack? Evidence from Twentieth-Century Historical Data
(pp. 129–34)
The Mystique Surrounding the Central Bank's Balance Sheet, Applied to the European Crisis
(pp. 135–40)
Output Spillovers from Fiscal Policy
(pp. 141–46)
Forecasting the Recovery from the Great Recession: Is This Time Different?
(pp. 147–52)
Extreme Wage Inequality: Pay at the Very Top
(pp. 153–57)
Family, Education, and Sources of Wealth among the Richest Americans, 1982-2012
(pp. 158–62)
Bailouts and the Optimal Taxation of Bonus Pay
(pp. 163–67)
Income Inequality, Mobility, and Turnover at the Top in the US, 1987-2010
(pp. 168–72)
Deconstructing Income and Income Inequality Measures: A Crosswalk from Market Income to Comprehensive Income
(pp. 173–77)
Consumption and Income Inequality and the Great Recession
(pp. 178–83)
Measuring the Trends in Inequality of Individuals and Families: Income and Consumption
(pp. 184–88)
The Scale and Selectivity of Foreign-Born PhD Recipients in the US
(pp. 189–92)
Immigration and Employer Transitions for STEM Workers
(pp. 193–97)
Why Do Programmers Earn More in Houston Than Hyderabad? Evidence from Randomized Processing of US Visas
(pp. 198–202)
Pathways to Adjustment: The Case of Information Technology Workers
(pp. 203–07)
A Trapped-Factors Model of Innovation
(pp. 208–13)
Sources of Wage Inequality
(pp. 214–19)
The Geography of Trade and Technology Shocks in the United States
(pp. 220–25)
Long-Term Neighborhood Effects on Low-Income Families: Evidence from Moving to Opportunity
(pp. 226–31)
Achieving Escape Velocity: Neighborhood and School Interventions to Reduce Persistent Inequality
(pp. 232–37)
Place Based Policies with Unemployment
(pp. 238–43)
Career, Family, and the Well-Being of College-Educated Women
(pp. 244–50)
Female Labor Supply: Why Is the United States Falling Behind?
(pp. 251–56)
Shocking Labor Supply: A Reassessment of the Role of World War II on Women's Labor Supply
(pp. 257–62)
Is Ignorance Bliss? The Effect of Asymmetric Information between Spouses on Intra-household Allocations
(pp. 263–68)
Trade Liberalization and Gender Inequality
(pp. 269–73)
Sexual Violence against Women and Labor Market Outcomes
(pp. 274–78)
The Effects of School Calendar Type on Maternal Employment across Racial Groups: A Story of Child Care Availability
(pp. 279–83)
The Impact of Crime and Insecurity on Trust in Democracy and Institutions
(pp. 284–88)
Earnings Inequality and the Intersectionality of Gender and Ethnicity in Sub-Saharan Africa: The Case of Tanzanian Manufacturing
(pp. 289–92)
Access to Credit by Firms in Sub-Saharan Africa: How Relevant Is Gender?
(pp. 293–97)
Fidelity Networks and Long-Run Trends in HIV/AIDS Gender Gaps
(pp. 298–302)
The Informational Role of Voluntary Certification: Evidence from the Mexican Clean Industry Program
(pp. 303–08)
Liquidity Constraints and Deforestation: The Limitations of Payments for Ecosystem Services
(pp. 309–13)
What Does Reputation Buy? Differentiation in a Market for Third-Party Auditors
(pp. 314–19)
A Numerical Investigation of the Potential for Negative Emissions Leakage
(pp. 320–25)
Linking Numerical and Analytical Models of Carbon Leakage
(pp. 326–31)
Leakage, Welfare, and Cost-Effectiveness of Carbon Policy
(pp. 332–37)
Natural Gas: From Shortages to Abundance in the United States
(pp. 338–43)
Transportation Fuels Policy since the OPEC Embargo: Paved with Good Intentions
(pp. 344–49)
Efficient Retail Pricing in Electricity and Natural Gas Markets
(pp. 350–55)
Transaction Networks: Evidence from Mobile Money in Kenya
(pp. 356–61)
Behavioral Biases and Firm Behavior: Evidence from Kenyan Retail Shops
(pp. 362–68)
The Home Economics of E-Money: Velocity, Cash Management, and Discount Rates of M-Pesa Users
(pp. 369–74)
Informal Risk Sharing, Index Insurance, and Risk Taking in Developing Countries
(pp. 375–80)
Profitability of Fertilizer: Experimental Evidence from Female Rice Farmers in Mali
(pp. 381–86)
Deposit Collecting: Unbundling the Role of Frequency, Salience, and Habit Formation in Generating Savings
(pp. 387–92)
Benefit-Cost Analysis for Financial Regulation
(pp. 393–97)
Financial Innovation and Portfolio Risks
(pp. 398–401)
Reflections on Finance and the Good Society
(pp. 402–05)
Can Financial Engineering Cure Cancer?
(pp. 406–11)
Health Care Usage and Health Status of Immigrant Children: The Effects of Nativity versus Citizenship
(pp. 412–17)
The Effects of Job Corps Training on Wages of Adolescents and Young Adults
(pp. 418–22)
The Poverty Gap in School Spending Following the Introduction of Title I
(pp. 423–27)
Achieving the DREAM: The Effect of IRCA on Immigrant Youth Postsecondary Educational Access
(pp. 428–32)
HIV Risk and Adolescent Behaviors in Africa
(pp. 433–38)
Learning from Others' HIV Testing: Updating Beliefs and Responding to Risk
(pp. 439–44)
Do Sex Workers Respond to Disease? Evidence from the Male Market for Sex
(pp. 445–50)
Inheritances, Intergenerational Transfers, and the Accumulation of Health
(pp. 451–55)
Adult Antiretroviral Therapy and Child Health: Evidence from Scale-Up in Zambia
(pp. 456–61)
SSI for Disabled Immigrants: Why Do Ethnic Networks Matter?
(pp. 462–66)
Boys' Cognitive Skill Formation and Physical Growth: Long-Term Experimental Evidence on Critical Ages for Early Childhood Interventions
(pp. 467–71)
Incentive Effects of Inheritances and Optimal Estate Taxation
(pp. 472–77)
The Estate Tax and Inter Vivos Transfers over Time
(pp. 478–83)
Income and Substitution Effects of Estate Taxation
(pp. 484–88)
Estate Taxation with Altruism Heterogeneity
(pp. 489–95)
Optimal Progressive Labor Income Taxation and Education Subsidies When Education Decisions and Intergenerational Transfers Are Endogenous
(pp. 496–501)
Optimal Pension Systems with Simple Instruments
(pp. 502–07)
Some Basic Economics of National Security
(pp. 508–11)
Modest, Secure, and Informed: Successful Development in Conflict Zones
(pp. 512–17)
Insurgent Compensation: Evidence from Iraq
(pp. 518–22)
An Analysis of Economic Warfare
(pp. 523–27)
Genetic Diversity and the Origins of Cultural Fragmentation
(pp. 528–33)
Social Organizations, Violence, and Modern Growth
(pp. 534–38)
Not the Opium of the People: Income and Secularization in a Panel of Prussian Counties
(pp. 539–44)
From Stagnation to Sustained Growth: The Role of Female Empowerment
(pp. 545–49)
Nonparametric Instrumental Variables Estimation
(pp. 550–56)
What Do Instrumental Variable Models Deliver with Discrete Dependent Variables?
(pp. 557–62)
Control Functions and Simultaneous Equations Methods
(pp. 563–69)
What Goes Up Must Come Down? Experimental Evidence on Intuitive Forecasting
(pp. 570–74)
Estimating the Effect of Salience in Wholesale and Retail Car Markets
(pp. 575–79)
Distinguishing Probability Weighting from Risk Misperceptions in Field Data
(pp. 580–85)
The Importance of Being Marginal: Gender Differences in Generosity
(pp. 586–90)
Two Happiness Puzzles
(pp. 591–97)
Subjective Well-Being and Income: Is There Any Evidence of Satiation?
(pp. 598–604)
Aggregating Local Preferences to Guide Marginal Policy Adjustments
(pp. 605–10)
The Psychology of Tail Events: Progress and Challenges
(pp. 611–16)
An Approach to Incorporating Psychology into Economics
(pp. 617–22)
Salience and Asset Prices
(pp. 623–28)
Views among Economists: Professional Consensus or Point-Counterpoint?
(pp. 629–35)
Economic Experts versus Average Americans
(pp. 636–42)
Course Requirements for Bachelor's Degrees in Economics
(pp. 643–47)
One Essay on Dissertation Formats in Economics
(pp. 648–53)
How Economists Allocate Time to Teaching and Research
(pp. 654–58)
Economic Understanding in US High School Courses
(pp. 659–63)
Minutes of the Annual Business Meeting: San Diego, CA, January 5, 2013
(pp. 667–68)
Report of the Secretary
(pp. 669–72)
Report of the Treasurer
(pp. 673–77)
American Economic Association Universal Academic Questionnaire Summary Statistics
(pp. 678–82)
List of Online Reports
(p. 683)
Minutes of the Meeting of the Executive Committee: Chicago, IL, April 27, 2012
(pp. 685–91)
Minutes of the Meeting of the Executive Committee: San Diego, CA, January 3, 2013
(pp. 692–700)
Report of the Editor: American Economic Review
(pp. 701–12)
Report of the Editor: Journal of Economic Literature
(pp. 713–15)
Report of the Editor: Journal of Economic Perspectives
(pp. 716–18)
Report of the Editor: American Economic Journal: Applied Economics
(pp. 719–22)
Report of the Editor: American Economic Journal: Economic Policy
(pp. 723–26)
Report of the Editor: American Economic Journal: Macroeconomics
(pp. 727–31)
Report of the Editor: American Economic Journal: Microeconomics
(pp. 732–34)
Report of the Director: Job Openings for Economists
(pp. 735–37)
Report: Committee on Economic Education
(pp. 738–43)
Report: Committee on the Status of Women in the Economics Profession
(pp. 744–55)
Report: Committee on the Status of Minority Groups in the Economics Profession
(pp. 756–66)
Report: American Economic Association Committee on Statistics
(pp. 767–68)
Report: Committee on Government Relations
(pp. 769–71)
Report: Ad Hoc Committee on Criterion for the John Bates Clark Medal
(pp. 772–73)
Report: Ad Hoc Search Committee for the Editor of the American Economic Journal: Economic Policy
(p. 774)
Report: Ad Hoc Search Committee for the Editor of the Journal of Economic Literature
(p. 775)