Front Matter
(pp. i–x)
American Economic Review
ISSN 0002-8282 (Print) | ISSN 1944-7981 (Online)
Vol. 106, No. 5, May 2016
Find articles in this issue
Foreword
(pp. xi–xii)
Editors' Introduction
(p. xiii)
Restoring Rational Choice: The Challenge of Consumer Financial Regulation
(pp. 1–30)
The Phillips Curve: Back to the '60s?
(pp. 31–34)
Dealing with Long-Term Deficits
(pp. 35–38)
Monetary Policy, Financial Stability, and the Zero Lower Bound
(pp. 39–42)
How to Restore Equitable and Sustainable Economic Growth in the United States
(pp. 43–47)
Can We Restart the Recovery All Over Again?
(pp. 48–51)
A Century of Growth and Improvement
(pp. 52–56)
The Rise and Fall of American Growth: Exploring the Numbers
(pp. 57–60)
State Capacity and American Technology: Evidence from the Nineteenth Century
(pp. 61–67)
Winter Is Coming: Robert Gordon and the Future of Economic Growth
(pp. 68–71)
Perspectives on The Rise and Fall of American Growth
(pp. 72–76)
Infrastructure, Incentives, and Institutions
(pp. 77–82)
Guns, Latrines, and Land Reform: Dynamic Pigouvian Taxation
(pp. 83–88)
Appliance Ownership and Aspirations among Electric Grid and Home Solar Households in Rural Kenya
(pp. 89–94)
Firm-Level Dispersion in Productivity: Is the Devil in the Details?
(pp. 95–98)
Productivity Dispersion in Medicine and Manufacturing
(pp. 99–103)
Market Regulations, Prices, and Productivity
(pp. 104–08)
Regulation, Institutions, and Productivity: New Macroeconomic Evidence from OECD Countries
(pp. 109–13)
Crowdsourcing City Government: Using Tournaments to Improve Inspection Accuracy
(pp. 114–18)
Personalized Risk Assessments in the Criminal Justice System
(pp. 119–23)
Productivity and Selection of Human Capital with Machine Learning
(pp. 124–27)
Cities Are Physical Too: Using Computer Vision to Measure the Quality and Impact of Urban Appearance
(pp. 128–32)
The Rapid Adoption of Data-Driven Decision-Making
(pp. 133–39)
Copyright Infringement in the Market for Digital Images
(pp. 140–45)
Agglomeration of Invention in the Bay Area: Not Just ICT
(pp. 146–51)
International Data on Measuring Management Practices
(pp. 152–56)
Making Private Data Accessible in an Opaque Industry: The Experience of the Private Capital Research Institute
(pp. 157–60)
Modernizing Federal Economic Statistics
(pp. 161–64)
Battling over Jobs: Occupational Licensing in Health Care
(pp. 165–70)
Should the US Eliminate Entry Barriers to the Practice of Law? Perspectives Shaped by Industry Deregulation
(pp. 171–76)
Disruptive Change in the Taxi Business: The Case of Uber
(pp. 177–82)
Patents and Research Investments: Assessing the Empirical Evidence
(pp. 183–87)
Patent Licensing, Technology Transfer, and Innovation
(pp. 188–92)
Patent Quality and Examination in Europe
(pp. 193–97)
Patent Remedies
(pp. 198–202)
Declining Business Dynamism: What We Know and the Way Forward
(pp. 203–07)
Wage Posting and Business Cycles
(pp. 208–13)
Firm Entry and Macroeconomic Dynamics: A State-Level Analysis
(pp. 214–18)
The Role of Startups in Structural Transformation
(pp. 219–23)
Popular Attitudes toward Markets and Democracy: Russia and United States Compared 25 Years Later
(pp. 224–29)
War, Inflation, and Social Capital
(pp. 230–35)
Russia's Billionaires
(pp. 236–41)
Paid Parental Leave Laws in the United States: Does Short-Duration Leave Affect Women's Labor-Force Attachment?
(pp. 242–46)
Has the Increased Attachment of Women to the Labor Market Changed a Family's Ability to Smooth Income Shocks?
(pp. 247–51)
Evolution of the Marriage Earnings Gap for Women
(pp. 252–56)
The Math Gender Gap: The Role of Culture
(pp. 257–61)
Does the Market Value CEO Styles?
(pp. 262–66)
Gender Diversity on Corporate Boards: Do Women Contribute Unique Skills?
(pp. 267–71)
Playing the Boys Game: Golf Buddies and Board Diversity
(pp. 272–76)
Women on Boards in Finance and STEM Industries
(pp. 277–81)
Childhood Environment and Gender Gaps in Adulthood
(pp. 282–88)
School Quality and the Gender Gap in Educational Achievement
(pp. 289–95)
What Explains the Gender Gap in College Track Dropout? Experimental and Administrative Evidence
(pp. 296–302)
Experimental Age Discrimination Evidence and the Heckman Critique
(pp. 303–08)
The Power of Eye Tracking in Economics Experiments
(pp. 309–13)
Determinants of Callbacks to Job Applications: An Audit Study
(pp. 314–18)
Supply and Demand for Discrimination: Strategic Revelation of Own Characteristics in a Trust Game
(pp. 319–23)
Student Loan Information Provision and Academic Choices
(pp. 324–28)
Birth Timing and Neonatal Health
(pp. 329–32)
STEM Training and Early Career Outcomes of Female and Male Graduate Students: Evidence from UMETRICS Data Linked to the 2010 Census
(pp. 333–38)
Medicare Part D and Portfolio Choice
(pp. 339–42)
Coordinated Admissions Program
(pp. 343–47)
Can Admissions Percent Plans Lead to Better Collegiate Fit for Minority Students?
(pp. 348–54)
Religious Workers' Density and the Racial Earnings Gap
(pp. 355–59)
Does the EITC Buffer against Neighborhood Transition? Evidence from Washington, DC
(pp. 360–62)
Classroom Experiments: Is More More?
(pp. 363–67)
Measuring the Effect of Blended Learning: Evidence from a Selective Liberal Arts College
(pp. 368–72)
The Impact of Challenge Quizzes on Student Knowledge
(pp. 373–77)
A Randomized Assessment of Online Learning
(pp. 378–82)
Sources of Inefficiency in Healthcare and Education
(pp. 383–87)
Interpreting Tests of School VAM Validity
(pp. 388–92)
Using Lagged Outcomes to Evaluate Bias in Value-Added Models
(pp. 393–99)
Fixed Effects, Invariance, and Spatial Variation in Intergenerational Mobility
(pp. 400–404)
Identity Economics 2016: Where Do Social Distinctions and Norms Come From?
(pp. 405–09)
Identity-Based Organizations
(pp. 410–14)
"We Thinking" and Its Consequences
(pp. 415–19)
Identity-Driven Cooperation versus Competition
(pp. 420–24)
Option Awareness: The Psychology of What We Consider
(pp. 425–29)
Beyond Beta-Delta: The Emerging Economics of Personal Plans
(pp. 430–34)
The Psychological Lives of the Poor
(pp. 435–40)
Refugees, Asylum Seekers, and Policy in OECD Countries
(pp. 441–45)
Rethinking Protection of Those Displaced by Humanitarian Crises
(pp. 446–50)
Toward an International Migration Regime
(pp. 451–55)
The Economic Impact of Syrian Refugees on Host Countries: Quasi-experimental Evidence from Turkey
(pp. 456–60)
Converging to American: Healthy Immigrant Effect in Children of Immigrants
(pp. 461–66)
Ethnic Attrition and the Observed Health of Later-Generation Mexican Americans
(pp. 467–71)
HIV/AIDS and Development: A Reappraisal of the Productivity and Factor Accumulation Effects
(pp. 472–77)
LEP Language Disability, Immigration Reform, and English-Language Acquisition
(pp. 478–83)
On the Optimal Inflation Rate
(pp. 484–89)
Sooner or Later: Timing of Monetary Policy with Heterogeneous Risk-Taking
(pp. 490–95)
Money and Asset Liquidity in Frictional Capital Markets
(pp. 496–502)
Secular Stagnation in the Open Economy
(pp. 503–07)
The Sovereign-Bank Diabolic Loop and ESBies
(pp. 508–12)
Safe Asset Scarcity and Aggregate Demand
(pp. 513–18)
What Makes US Government Bonds Safe Assets?
(pp. 519–23)
Crises and the Development of Economic Institutions: Some Microeconomic Evidence
(pp. 524–27)
Too Big to Fail before the Fed
(pp. 528–32)
Interbank Markets and Banking Crises: New Evidence on the Establishment and Impact of the Federal Reserve
(pp. 533–37)
Bank Leverage and Regulatory Regimes: Evidence from the Great Depression and Great Recession
(pp. 538–42)
A Simple Model of Subprime Borrowers and Credit Growth
(pp. 543–47)
Debt Constraints and the Labor Wedge
(pp. 548–53)
Anticipated Banking Panics
(pp. 554–59)
Bank Leverage and Social Welfare
(pp. 560–64)
Capital Flows: Expansionary or Contractionary?
(pp. 565–69)
The Macroprudential Role of International Reserves
(pp. 570–73)
Global Cycles: Capital Flows, Commodities, and Sovereign Defaults, 1815-2015
(pp. 574–80)
When Do Capital Inflow Surges End in Tears?
(pp. 581–85)
Information Design, Bayesian Persuasion, and Bayes Correlated Equilibrium
(pp. 586–91)
Bayesian Persuasion in Coordination Games
(pp. 592–96)
A Rothschild-Stiglitz Approach to Bayesian Persuasion
(pp. 597–601)
Shutting Down the Thermohaline Circulation
(pp. 602–06)
A Potential Disintegration of the West Antarctic Ice Sheet: Implications for Economic Analyses of Climate Policy
(pp. 607–11)
The Ecosystem Impacts of Severe Warming
(pp. 612–14)
Economic Effects of an Ocean Acidification Catastrophe
(pp. 615–19)
How Mortgage Finance Reform Could Affect Housing
(pp. 620–24)
Borrowing Constraints and Homeownership
(pp. 625–29)
A Lost Generation? Education Decisions and Employment Outcomes during the US Housing Boom-Bust Cycle of the 2000s
(pp. 630–35)
To Buy or Not to Buy: Consumer Constraints in the Housing Market
(pp. 636–40)
Estimating Top Income and Wealth Shares: Sensitivity to Data and Methods
(pp. 641–45)
Estimating the Top Tail of the Wealth Distribution
(pp. 646–50)
Heterogeneity in Returns to Wealth and the Measurement of Wealth Inequality
(pp. 651–55)
The Role of Bequests in Shaping Wealth Inequality: Evidence from Danish Wealth Records
(pp. 656–61)
Revenue and Incentive Effects of Basis Step-Up at Death: Lessons from the 2010 "Voluntary" Estate Tax Regime
(pp. 662–67)
Minutes of the Annual Business Meeting: San Francisco, CA, January 3, 2016
(p. 671)
Report of the Secretary
(pp. 672–75)
Report of the Treasurer
(pp. 676–79)
American Economic Association Universal Academic Questionnaire Summary Statistics
(pp. 680–82)
List of Online Reports
(p. 683)
Minutes of the Meeting of the Executive Committee: Chicago, IL, April 24, 2015
(pp. 685–90)
Minutes of the Meeting of the Executive Committee: San Francisco, CA, January 2, 2016
(pp. 691–99)
Report of the Editor: American Economic Review
(pp. 700–712)
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. 719–25)
Report of the Editor: American Economic Journal: Economic Policy
(pp. 726–30)
Report of the Editor: American Economic Journal: Macroeconomics
(pp. 731–35)
Report of the Editor: American Economic Journal: Microeconomics
(pp. 736–39)
Report of the Director: Job Openings for Economists
(pp. 740–42)
Report: Committee on Economic Education
(pp. 743–49)
Report: Committee on the Status of Women in the Economics Profession (CSWEP)
(pp. 750–73)
Report: Committee on the Status of Minority Groups in the Economics Profession (CSMGEP)
(pp. 774–87)
Report: American Economic Association Committee on Statistics (AEAStat)
(pp. 788–93)
Report: Committee on Government Relations
(pp. 794–96)