Front Matter
(pp. i–viii)
American Economic Review
ISSN 0002-8282 (Print) | ISSN 1944-7981 (Online)
Vol. 104, No. 5, May 2014
Find articles in this issue
President's Foreword
(pp. xi–xii)
Editor's Introduction
(p. xiii)
Retirement Security in an Aging Population
(pp. 1–30)
Inflation Persistence, the NAIRU, and the Great Recession
(pp. 31–36)
The Natural Rate of Interest and Its Usefulness for Monetary Policy
(pp. 37–43)
The Future of US Economic Growth
(pp. 44–49)
Recovery from Financial Crises: Evidence from 100 Episodes
(pp. 50–55)
Why Has US Policy Uncertainty Risen since 1960?
(pp. 56–60)
The Role of Policy in the Great Recession and the Weak Recovery
(pp. 61–66)
Housing Assignment with Restrictions: Theory and Evidence from Stanford University's Campus
(pp. 67–72)
Why Is Housing Finance Still Stuck in Such a Primitive Stage?
(pp. 73–76)
The Mortgage Mess, the Press, and the Politics of Inattention
(pp. 77–81)
Mandated Risk Retention in Mortgage Securitization: An Economist's View
(pp. 82–87)
Is It Too Late to Bail Out the Troubled Countries in the Eurozone?
(pp. 88–93)
Renegotiation Policies in Sovereign Defaults
(pp. 94–100)
Sovereign Debt Booms in Monetary Unions
(pp. 101–06)
The Distribution of Wealth and the MPC: Implications of New European Data
(pp. 107–11)
Measuring How Fiscal Shocks Affect Durable Spending in Recessions and Expansions
(pp. 112–15)
A Tale of Two Stimulus Payments: 2001 versus 2008
(pp. 116–21)
Consumption Inequality over the Last Half Century: Some Evidence Using the New PSID Consumption Measure
(pp. 122–26)
Health, Human Capital, and Life Cycle Labor Supply
(pp. 127–31)
Estimates of Annual Consumption Expenditures and Its Major Components in the PSID in Comparison to the CE
(pp. 132–35)
The Intergenerational Correlation of Consumption Expenditures
(pp. 136–40)
Is the United States Still a Land of Opportunity? Recent Trends in Intergenerational Mobility
(pp. 141–47)
How Risky Are Recessions for Top Earners?
(pp. 148–53)
Year-End Tax Planning of Top Management: Evidence from High-Frequency Payroll Data
(pp. 154–58)
Macro-perspective on Asset Grants Programs: Occupational and Wealth Mobility
(pp. 159–64)
Agricultural Productivity Differences across Countries
(pp. 165–70)
The Aggregate Impact of Household Saving and Borrowing Constraints: Designing a Field Experiment in Uganda
(pp. 171–76)
A Reassessment of Real Business Cycle Theory
(pp. 177–82)
Can Intangible Capital Explain Cyclical Movements in the Labor Wedge?
(pp. 183–88)
The Value and Ownership of Intangible Capital
(pp. 189–94)
Weak Identification in Maximum Likelihood: A Question of Information
(pp. 195–99)
Physician Payment Reform and Hospital Referrals
(pp. 200–205)
Estimation of an Education Production Function under Random Assignment with Selection
(pp. 206–11)
Treatment Effects and Informative Missingness with an Application to Bank Recapitalization Programs
(pp. 212–17)
The Determinants of the Macroeconomic Implications of Aging
(pp. 218–23)
Aging in Europe: Reforms, International Diversification, and Behavioral Reactions
(pp. 224–29)
The Growing Gap in Life Expectancy: Using the Future Elderly Model to Estimate Implications for Social Security and Medicare
(pp. 230–33)
Macroeconomic Consequences of Population Aging in the United States: Overview of a National Academy Report
(pp. 234–39)
Disparities in Wealth Accumulation and Loss from the Great Recession and Beyond
(pp. 240–44)
Gender and Business Outcomes of Black and Hispanic New Entrepreneurs in the United States
(pp. 245–49)
Does the US Labor Market Reward International Experience?
(pp. 250–54)
Entrepreneurial Innovation: Killer Apps in the iPhone Ecosystem
(pp. 255–59)
Learning from the Doers: Developing Country Lessons for Advanced Economy Growth
(pp. 260–65)
Forty Years of Leverage: What Have We Learned about Sovereign Debt?
(pp. 266–71)
Demand and Defective Growth Patterns: The Role of the Tradable and Non-tradable Sectors in an Open Economy
(pp. 272–77)
Rainfall Forecasts, Weather, and Wages over the Agricultural Production Cycle
(pp. 278–83)
Dynamics of Demand for Index Insurance: Evidence from a Long-Run Field Experiment
(pp. 284–90)
Bundling Health Insurance and Microfinance in India: There Cannot Be Adverse Selection If There Is No Demand
(pp. 291–97)
Together at Last: Trade Costs, Demand Structure, and Welfare
(pp. 298–303)
Monopolistic Competition and Optimum Product Selection
(pp. 304–09)
Welfare and Trade without Pareto
(pp. 310–16)
Missing Gains from Trade?
(pp. 317–21)
The Impact of Medicaid on Labor Market Activity and Program Participation: Evidence from the Oregon Health Insurance Experiment
(pp. 322–28)
Disability Insurance and Health Insurance Reform: Evidence from Massachusetts
(pp. 329–35)
The Accelerated Benefits Demonstration: Impacts on the Employment of Disability Insurance Beneficiaries
(pp. 336–41)
Unilateral Divorce, the Decreasing Gender Gap, and Married Women's Labor Force Participation
(pp. 342–47)
Marry Your Like: Assortative Mating and Income Inequality
(pp. 348–53)
Labor Supply and Household Dynamics
(pp. 354–59)
The Myth of Immigrant Women as Secondary Workers: Evidence from Canada
(pp. 360–64)
All for One? Family Size and Children's Educational Distribution under Credit Constraints
(pp. 365–69)
Are Female Supervisors More Female-Friendly?
(pp. 370–75)
Race and Marriage in the Labor Market: A Discrimination Correspondence Study in a Developing Country
(pp. 376–80)
The Declining Fortunes of the Young since 2000
(pp. 381–86)
Trends in Earnings Differentials across College Majors and the Changing Task Composition of Jobs
(pp. 387–93)
Return of the Solow Paradox? IT, Productivity, and Employment in US Manufacturing
(pp. 394–99)
Ability-Tracking, Instructional Time, and Better Pedagogy: The Effect of Double-Dose Algebra on Student Achievement
(pp. 400–405)
Using School Choice Lotteries to Test Measures of School Effectiveness
(pp. 406–11)
Gender and Race Heterogeneity: The Impact of Students with Limited English on Native Students' Performance
(pp. 412–17)
Implementation Details for Frequent Batch Auctions: Slowing Down Markets to the Blink of an Eye
(pp. 418–24)
Getting More Organs for Transplantation
(pp. 425–30)
Mechanism Design in Large Games: Incentives and Privacy
(pp. 431–35)
Investment Incentives in Labor Market Matching
(pp. 436–41)
The VCG Auction in Theory and Practice
(pp. 442–45)
Market Design and the Evolution of the Combinatorial Clock Auction
(pp. 446–51)
The Continuous Combinatorial Auction Architecture
(pp. 452–56)
Costly Persuasion
(pp. 457–62)
How Sharing Information Can Garble Experts' Advice
(pp. 463–68)
Interim Bayesian Persuasion: First Steps
(pp. 469–74)
Mobile Computing: The Next Platform Rivalry
(pp. 475–80)
Trading Dollars for Dollars: The Price of Attention Online and Offline
(pp. 481–88)
Growth, Adoption, and Use of Mobile E-Commerce
(pp. 489–94)
Stochastic Choice: An Optimizing Neuroeconomic Model
(pp. 495–500)
Benefits of Neuroeconomic Modeling: New Policy Interventions and Predictors of Preference
(pp. 501–06)
Rational Attention and Adaptive Coding: A Puzzle and a Solution
(pp. 507–13)
(Dis)organization and Success in an Economics MOOC
(pp. 514–18)
The Industrial Organization of Online Education
(pp. 519–22)
Equalizing Superstars: The Internet and the Democratization of Education
(pp. 523–27)
The Economics of Online Postsecondary Education: MOOCs, Nonselective Education, and Highly Selective Education
(pp. 528–33)
Discounting and Growth
(pp. 534–37)
Declining Discount Rates
(pp. 538–43)
Fat Tails and the Social Cost of Carbon
(pp. 544–46)
On Not Revisiting Official Discount Rates: Institutional Inertia and the Social Cost of Carbon
(pp. 547–51)
Selected International Aspects of Carbon Taxation
(pp. 552–56)
The Costs and Consequences of Clean Air Act Regulation of CO2 from Power Plants
(pp. 557–62)
Tax Policy Issues in Designing a Carbon Tax
(pp. 563–68)
How Effective Are US Renewable Energy Subsidies in Cutting Greenhouse Gases?
(pp. 569–74)
Powering Up China: Income Distributions and Residential Electricity Consumption
(pp. 575–80)
The Economic Cost of Global Fuel Subsidies
(pp. 581–85)
Why Are Power Plants in India Less Efficient Than Power Plants in the United States?
(pp. 586–90)
Minutes of the Annual Business Meeting: Philadelphia, PA, January 4, 2014
(pp. 593–94)
Report of the Secretary
(pp. 595–98)
Report of the Treasurer
(pp. 599–602)
American Economic Association Universal Academic Questionnaire Summary Statistics
(pp. 603–07)
List of Online Reports
(p. 608)
Minutes of the Meeting of the Executive Committee: Chicago, IL, April 12, 2013
(pp. 609–613)
Minutes of the Meeting of the Executive Committee: Philadelphia, PA, January 2, 2014
(pp. 614–620)
Report of the Editor: American Economic Review
(pp. 621–631)
Report of the Editor: Journal of Economic Literature
(pp. 632–634)
Report of the Editor: Journal of Economic Perspectives
(pp. 635–637)
Report of The Editor: American Economic Journal: Applied Economics
(pp. 638–644)
Report of the Editor: American Economic Journal: Economic Policy
(pp. 645–648)
Report of the Editor: Macroeconomics
(pp. 649–653)
Report of the Editor: Microeconomics
(pp. 654–656)
Report of the Director: Job Openings for Economists
(pp. 657–659)
Report: Committee on Economic Education
(pp. 660–663)
Report: Committee on the Status of Women in the Economics Profession (CSWEP)
(pp. 664–681)
Report: Committee on the Status of Minority Groups in the Economics Profession (CSMGEP)
(pp. 682–696)
Report: American Economic Association Committee on Statistics (AEAStat)
(p. 697)
Report: Committee on Government Relations
(pp. 698–701)
Report: Ad Hoc Search Committee for the Editor of the Journal of Economic Perspectives
(p. 702)
Report: Ad Hoc Search Committee for the Editor of the American Economic Journal: Macroeconomics
(p. 703)