Journal of Economic Literature

SCOPUS (1981,1984,1986,1996-2023)SSCI-ISI

  0022-0515

  2328-8175

  Mỹ

Cơ quản chủ quản:  American Economic Association , AMER ECONOMIC ASSOC

Lĩnh vực:
Economics and Econometrics

Các bài báo tiêu biểu

The New Institutional Economics: Taking Stock, Looking Ahead
Tập 38 Số 3 - Trang 595-613 - 2000
Oliver E. Williamson

This paper examines the progressive development of the new institutional economics over the past quarter century. It begins by distinguishing four levels of social analysis, with special emphasis on the institutional environment and the institutions of governance. It then turns to some of the good ideas out of which the NIE works: the description of human actors, feasibility, firms as governance structures, and operationalization. Applications, including privatization, are briefly discussed. Its empirical successes, public policy applications, and other accomplishments notwithstanding, there is a vast amount of unfinished business.

Gender Differences in Preferences
Tập 47 Số 2 - Trang 448-474 - 2009
Rachel Croson, Uri Gneezy

This paper reviews the literature on gender differences in economic experiments. In the three main sections, we identify robust differences in risk preferences, social (other-regarding) preferences, and competitive preferences. We also speculate on the source of these differences, as well as on their implications. Our hope is that this article will serve as a resource for those seeking to understand gender differences and to use as a starting point to illuminate the debate on gender-specific outcomes in the labor and goods markets.

The Science of Monetary Policy: A New Keynesian Perspective
Tập 37 Số 4 - Trang 1661-1707 - 1999
Richard H. Clarida, Jordi Galı́, Mark Gertler

The paper reviews the recent literature on monetary policy rules. We exposit the monetary policy design problem within a simple baseline theoretical framework. We then consider the implications of adding various real world complications. Among other things, we show that the optimal policy implicitly incorporates inflation targeting. We also characterize the gains from making a credible commitment to fight inflation. In contrast to conventional wisdom, we show that gains from commitment may emerge even if the central bank is not trying to inadvisedly push output above its natural level. We also consider the implications of frictions such as imperfect information.

Recent Developments in the Econometrics of Program Evaluation
Tập 47 Số 1 - Trang 5-86 - 2009
Guido W. Imbens, Jeffrey M. Wooldridge

Many empirical questions in economics and other social sciences depend on causal effects of programs or policies. In the last two decades, much research has been done on the econometric and statistical analysis of such causal effects. This recent theoretical literature has built on, and combined features of, earlier work in both the statistics and econometrics literatures. It has by now reached a level of maturity that makes it an important tool in many areas of empirical research in economics, including labor economics, public finance, development economics, industrial organization, and other areas of empirical microeconomics. In this review, we discuss some of the recent developments. We focus primarily on practical issues for empirical researchers, as well as provide a historical overview of the area and give references to more technical research.

Time Discounting and Time Preference: A Critical Review
Tập 40 Số 2 - Trang 351-401 - 2002
Shane Frederick, George Loewenstein, Ted O’Donoghue
An Essay on Fiscal Federalism
Tập 37 Số 3 - Trang 1120-1149 - 1999
Wallace E. Oates

This paper is a selective survey of fiscal federalism. It begins with a brief review and some reflections on the traditional theory of fiscal federalism: the assignment of functions to levels of government, the welfare gains from fiscal decentralization, and the use of fiscal instruments. It then explores a series of important topics that are the subject of current research: laboratory federalism, interjurisdictional competition and environmental federalism, the political economy of fiscal federalism, market-preserving federalism, and fiscal decentralization in the developing and transitional economies.

Shadow Economies: Size, Causes, and Consequences
Tập 38 Số 1 - Trang 77-114 - 2000
Friedrich Schneider, Dominik H. Enste

Using various methods, the size of the shadow economy in 76 developing, transition, and OECD countries is estimated. Average size varies from 12 percent of GDP for OECD countries, to 23 percent for transition countries and 39 percent for developing countries. Increasing taxation and social security contributions combined with rising state regulations are driving forces for the increase of the shadow economy, especially in OECD countries. According to some findings, corruption has a positive impact on the size of the shadow economy, and a growing shadow economy has a negative effect on official GDP growth.

Looking into the Black Box: A Survey of the Matching Function
Tập 39 Số 2 - Trang 390-431 - 2001
Bárbara Petrongolo, Christopher A. Pissarides

This paper surveys the microfoundations, empirical evidence, and estimation issues underlying the aggregate matching function. There is no consensus yet on microfoundations but one is emerging on estimation. An aggregate, constant returns, Cobb-Douglas matching function with hires as a function of vacancies and unemployment has been successfully estimated for several countries. Recent work has utilized disaggregated data to go beyond aggregate estimates, with many refinements and suggestions for future research. The paper discusses spatial aggregation issues, and implications of on-the-job search and of the timing of stocks and flows for estimated matching functions.

Top Incomes in the Long Run of History
Tập 49 Số 1 - Trang 3-71 - 2011
Anthony B. Atkinson, Thomas Piketty, Emmanuel Saez

A recent literature has constructed top income shares time series over the long run for more than twenty countries using income tax statistics. Top incomes represent a small share of the population but a very significant share of total income and total taxes paid. Hence, aggregate economic growth per capita and Gini inequality indexes are sensitive to excluding or including top incomes. We discuss the estimation methods and issues that arise when constructing top income share series, including income definition and comparability over time and across countries, tax avoidance, and tax evasion. We provide a summary of the key empirical findings. Most countries experience a dramatic drop in top income shares in the first part of the twentieth century in general due to shocks to top capital incomes during the wars and depression shocks. Top income shares do not recover in the immediate postwar decades. However, over the last thirty years, top income shares have increased substantially in English speaking countries and in India and China but not in continental European countries or Japan. This increase is due in part to an unprecedented surge in top wage incomes. As a result, wage income comprises a larger fraction of top incomes than in the past. Finally, we discuss the theoretical and empirical models that have been proposed to account for the facts and the main questions that remain open. (JEL D31, D63, H26, N30)

Women Empowerment and Economic Development
Tập 50 Số 4 - Trang 1051-1079 - 2012
Esther Duflo

Women empowerment and economic development are closely related: in one direction, development alone can play a major role in driving down inequality between men and women; in the other direction, empowering women may benefit development. Does this imply that pushing just one of these two levers would set a virtuous circle in motion? This paper reviews the literature on both sides of the empowerment—development nexus, and argues that the interrelationships are probably too weak to be self-sustaining, and that continuous policy commitment to equality for its own sake may be needed to bring about equality between men and women. (JEL I14, I24, I32, I38, J13, J16, O15)