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The American Economic Review is a general-interest economics journal. The journal is published quarterly and contains articles on a broad range of topics. Established in 1911, the AER is among the nation's oldest and most respected scholarly journals in the economics profession.

Publisher: American Economic Association

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Volume 98, Number 2, May 2008

Editors' Introduction

Editors' Introduction
pp. viii-viii(1)
Authors: Johnson, William R.; Voros, Jane E.

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Foreword

Foreword
pp. ix-ix(1)
Author: Dixit, Avinash K.

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Papers: Richard T. Ely Lecture

The Economics of Climate Change
pp. 1-37(37)
Author: Stern, Nicholas

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Papers: The Impact of Hurricanes on Residents and Local Labor Markets

Returning to New Orleans after Hurricane Katrina
pp. 38-42(5)
Authors: Paxson, Christina; Rouse, Cecilia Elena

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The Effect of Hurricane Katrina on the Labor Market Outcomes of Evacuees
pp. 43-48(6)
Authors: Groen, Jeffrey A.; Polivka, Anne E.

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How Hurricanes Affect Wages and Employment in Local Labor Markets
pp. 49-53(5)
Authors: Belasen, Ariel R.; Polachek, Solomon W.

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Papers: Rare Disasters and Asset Markets

Consumption Disasters in the Twentieth Century
pp. 58-63(6)
Authors: Barro, Robert J.; Ursúa, José F.

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Disasters and Recoveries
pp. 68-73(6)
Author: Gourio, François

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Disasters and the Welfare Cost of Uncertainty
pp. 74-78(5)
Author: Martin, Ian W. R.

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Papers: US Fiscal Institutions: Reforming Tax Expenditures

How Big Are Total Individual Income Tax Expenditures, and Who Benefits from Them?
pp. 79-83(5)
Authors: Robinson, I. S.; Geissler, Christopher; Toder, Eric J.

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Using Tax Expenditures to Achieve Energy Policy Goals
pp. 90-94(5)
Author: Metcalf, Gilbert E.

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Papers: Design and Reform of Institutions in LDCs and Transition Economies

Institutions: Top Down or Bottom Up?
pp. 95-99(5)
Author: Easterly, William

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Second-Best Institutions
pp. 100-104(5)
Author: Rodrik, Dani

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The Administrative Foundations of Self-Enforcing Constitutions
pp. 105-109(5)
Authors: de Lara, Yadira González; Greif, Avner; Jha, Saumitra

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Papers: Current and Future Institutions for the World Economy

The Future of the IMF and the World Bank
pp. 110-115(6)
Author: Rajan, Raghuram G.

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Papers: Reforming Economic Institutions of the European Union

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Widening and Deepening: Reforming the European Union
pp. 133-137(5)
Authors: Mohin, Timothy J.; Burkart, Mike; Friebel, Guido; Paltseva, Elena

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Should the Euro Area be Run as a Closed Economy?
pp. 138-145(8)
Authors: Favero, Carlo; Giavazzi, Francesco

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Papers: Empirical Work on Asymmetric Information in Insurance Markets

Modeling Competition and Market Equilibrium in Insurance: Empirical Issues
pp. 146-150(5)
Authors: Robinson, I. S.; Salanié, Bernard

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Does the Secondary Life Insurance Market Threaten Dynamic Insurance?
pp. 151-156(6)
Authors: Daily, Glenn; Hendel, Igal; Lizzeri, Alessandro

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Preference Heterogeneity and Insurance Markets: Explaining a Puzzle of Insurance
pp. 157-162(6)
Authors: Cutler, David M.; Finkelstein, Amy; McGarry, Kathleen

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Papers: Neuroeconomic Models of Economic Decision-Making

The Impact of Computation Time and Experience on Decision Values
pp. 163-168(6)
Authors: Armel, K. Carrie; Rangel, Antonio

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Economic Insights from "Neuroeconomic" Data
pp. 169-174(6)
Authors: Caplin, Andrew; Dean, Mark

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Theories of the Mind
pp. 175-180(6)
Authors: Brocas, Isabelle; Carrillo, Juan D.

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Papers: Information Aggregation by Voting

Information Aggregation in Standing and Ad Hoc Committees
pp. 181-186(6)
Authors: Ali, S. Nageeb; Goeree, Jacob K.; Kartik, Navin; Palfrey, Thomas R.

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Costly Expertise
pp. 187-193(7)
Authors: Robinson, I. S.; Yariv, Leeat

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Information Aggregation and Strategic Abstention in Large Laboratory Elections
pp. 194-200(7)
Authors: Battaglini, Marco; Morton, Rebecca B.; Palfrey, Thomas R.

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Papers: Work Incentives, Motivation, and Identity

Intrinsic Motivation and Incentives
pp. 201-205(5)
Author: Prendergast, Canice

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Status Incentives
pp. 206-211(6)
Authors: Besley, Timothy; Ghatak, Maitreesh

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Identity, Supervision, and Work Groups
pp. 212-217(6)
Authors: Akerlof, George A.; Kranton, Rachel E.

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Papres: Expertise and Macroeconomic Policy

Insiders versus Outsiders in Monetary Policymaking
pp. 218-223(6)
Authors: Besley, Timothy; Meads, Neil; Surico, Paolo

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Do Monetary Policy Committees Need Leaders? A Report on an Experiment
pp. 224-229(6)
Authors: Blinder, Alan S.; Morgan, John

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The FOMC versus the Staff: Where Can Monetary Policymakers Add Value?
pp. 230-235(6)
Authors: Romer, Christina D.; Romer, David H.

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Papers: Complexity and Dynamics in Macroeconomics: Alternatives to the DSGE Models

Beyond DSGE Models: Toward an Empirically Based Macroeconomics
pp. 236-240(5)
Authors: Colander, David; Howitt, Peter; Kirman, Alan; Leijonhufvud, Axel; Mehrling, Perry

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Frequency-Specific Effects of Stabilization Policies
pp. 241-245(5)
Authors: Brock, William A.; Durlauf, Steven N.; Rondina, Giacomo

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Modeling Macroeconomies as Open-Ended Dynamic Systems of Interacting Agents
pp. 246-250(5)
Authors: Winfrey Harris, Tamara; Tesfatsion, Leigh

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Allowing the Data to Speak Freely: The Macroeconometrics of the Cointegrated Vector Autoregression
pp. 251-255(5)
Authors: Hoover, Kevin D.; Johansen, Søren; Juselius, Katarina

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Papers: Labor Market Flows

The Ins and Outs of European Unemployment
pp. 256-262(7)
Authors: Petrongolo, Barbara; Pissarides, Christopher A

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The Decline of Job Loss and Why It Matters
pp. 263-267(5)
Author: Davis, Steven J.

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The Probability of Finding a Job
pp. 268-273(6)
Author: Shimer, Robert

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Papers: Price Manipulation in Financial Markets

How to Define Illegal Price Manipulation
pp. 274-279(6)
Authors: Kyle, Albert S.; Viswanathan, S.

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Microstructure Bluffing with Nested Information
pp. 280-284(5)
Authors: Robinson, I. S.; Yilmaz, Bilge

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Manipulation and Equity-Based Compensation
pp. 285-290(6)
Authors: Peng, Lin; Röell, Ailsa

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Papers: Life-Cycle Investing

Contingent Claims Analysis and Life-Cycle Finance
pp. 291-296(6)
Authors: Bodie, Zvi; Ruffino, Doriana; Treussard, Jonathan

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Optimal Life-Cycle Investing with Flexible Labor Supply: A Welfare Analysis of Life-Cycle Funds
pp. 297-303(7)
Authors: Gomes, Francisco J.; Kotlikoff, Laurence J.; Viceira, Luis M.

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Why Don't People Insure Late-Life Consumption? A Framing Explanation of the Under-Annuitization Puzzle
pp. 304-309(6)
Authors: Brown, Jeffrey R.; Kling, Jeffrey R.; Mullainathan, Sendhil; Wrobel, Marian V.

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Papers: Assets and Credit among Low-Income Households

Mortgages, Risk, and Homeownership among Low- and Moderate-Income Families
pp. 310-314(5)
Authors: Bostic, Raphael W.; Lee, Kwan Ok

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Rates for Vehicle Loans: Race and Loan Source
pp. 315-320(6)
Authors: Charles, Kerwin Kofi; Hurst, Erik; Stephens, Melvin

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Papers: New Perspectives on Financial Globalization

The Drivers of Financial Globalization
pp. 327-332(6)
Authors: Lane, Philip R.; Milesi-Ferretti, Gian Maria

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Home Bias at the Fund Level
pp. 333-338(6)
Authors: Hau, Harald; Rey, Hélène

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Is the 2007 US Sub-Prime Financial Crisis So Different? An International Historical Comparison
pp. 339-344(6)
Authors: Reinhart, Carmen M.; Rogoff, Kenneth S.

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Papers: Applications of Recent Methodology in Project Evaluation

Using Selection on Observed Variables to Assess Bias from Unobservables when Evaluating Swan-Ganz Catheterization
pp. 345-350(6)
Authors: Altonji, Joseph G.; Elder, Todd E.; Taber, Christopher R.

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Treatment Effect Bounds under Monotonicity Assumptions: An Application to Swan-Ganz Catheterization
pp. 351-356(6)
Authors: Bhattacharya, Jay; Shaikh, Azeem M.; Vytlacil, Edward

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Estimating Average Treatment Effects with Continuous and Discrete Covariates: The Case of Swan-Ganz Catheterization
pp. 357-362(6)
Authors: Li, Qi; Racine, Jeffrey S.; Wooldridge, Jeffrey M.

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Papers: Gender Differences in Careers, Education, and Games

Transitions: Career and Family Life Cycles of the Educational Elite
pp. 363-369(7)
Authors: Goldin, Claudia; Katz, Lawrence F.

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Exploring the Impact of Financial Incentives on Stereotype Threat: Evidence from a Pilot Study
pp. 370-375(6)
Authors: Fryer, Roland G.; Levitt, Steven D.; List, John A.

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Do Women Supply More Public Goods than Men? Preliminary Experimental Evidence from Matrilineal and Patriarchal Societies
pp. 376-381(6)
Authors: Robinson, I. S.; Bulte, Erwin; Gneezy, Uri; List, John A.

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Papers: Macroeconomic Factors Impacting Poverty and Income Distribution among African Americans

The Changing Incidence and Severity of Poverty Spells among Female-Headed Families
pp. 387-391(5)
Authors: Card, David; Blank, Rebecca M.

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Poverty Volatility and Macroeconomic Quiescence
pp. 392-397(6)
Author: Jefferson, Philip N.

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Non-White Poverty and Macroeconomy: The Impact of Growth
pp. 398-402(5)
Authors: Hoover, Gary A.; Enders, Walter; Freeman, Donald G.

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Papers: Women, Finances, and Children

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Planning and Financial Literacy: How Do Women Fare?
pp. 413-417(5)
Authors: Lusardi, Annamaria; Mitchell, Olivia S.

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Who Chooses Annuities? An Experimental Investigation of the Role of Gender, Framing, and Defaults
pp. 418-422(5)
Authors: Thomas, David R.; Anderson, Lisa R.; Gerlach, Jeffrey R.; Szykman, Lisa R.

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Papers: Sources of International Price Stickiness

A Structural Approach to Explaining Incomplete Exchange-Rate Pass-Through and Pricing-to-Market
pp. 423-429(7)
Authors: Goldberg, Pinelopi Koujianou; Hellerstein, Rebecca

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Pass-Through in Retail and Wholesale
pp. 430-437(8)
Author: Nakamura, Emi

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Welfare Costs of Inflation in a Menu Cost Model
pp. 438-443(6)
Authors: Robinson, I. S.; Hellwig, Christian

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Papers: Firm Heterogeneity and International Trade

Endogenous Variety and the Gains from Trade
pp. 444-450(7)
Authors: Arkolakis, Costas; Demidova, Svetlana; Klenow, Peter J.; Rodríguez-Clare, Andrés

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R&D Investments, Exporting, and the Evolution of Firm Productivity
pp. 451-456(6)
Authors: Aw, Bee Yan; Roberts, Mark J.; Xu, Daniel Yi

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Firm-Level Heterogeneous Productivity and Demand Shocks: Evidence from Bangladesh
pp. 457-462(6)
Authors: Kee, Hiau Looi; Krishna, Kala

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Papers: Height, Health and Economic Development

Height, Health, and Cognitive Function at Older Ages
pp. 463-467(5)
Authors: Case, Anne; Paxson, Christina

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Height and Economic Development in Italy, 1730–1980
pp. 475-481(7)
Author: Peracchi, Franco

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Papers: Psychology and Development: Theory and Experimental Evidence

How High Are Rates of Return to Fertilizer? Evidence from Field Experiments in Kenya
pp. 482-488(7)
Authors: Duflo, Esther; Kremer, Michael; Robinson, Jonathan

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Limited Attention and Income Distribution
pp. 489-493(5)
Authors: Banerjee, Abhijit V.; Mullainathan, Sendhil

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Spite and Development
pp. 494-499(6)
Authors: Fehr, Ernst; Hoff, Karla; Kshetramade, Mayuresh

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Papers: New Research in Development Economics: Marriage, Motherhood, and Conflict

Motherhood and Female Labor Force Participation: Evidence from Infertility Shocks
pp. 500-504(5)
Authors: Agüero, Jorge M.; Marks, Mindy S.

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Segregation, Rent Control, and Riots: The Economics of Religious Conflict in an Indian City
pp. 505-510(6)
Authors: Field, Erica; Levinson, Matthew; Pande, Rohini; Visaria, Sujata

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Stress and Birth Weight: Evidence from Terrorist Attacks
pp. 511-515(5)
Author: Camacho, Adriana

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Prostitutes and Brides?
pp. 516-522(7)
Authors: Arunachalam, Raj; Shah, Manisha

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Papers: New Comparative Economic History

Made in America? The New World, the Old, and the Industrial Revolution
pp. 523-528(6)
Authors: Levenson, Alec; O'Rourke, Kevin H.; Taylor, Alan M.

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Trade Costs, 1870–2000
pp. 529-534(6)
Authors: Jacks, David S.; Meissner, Christopher M.; Novy, Dennis

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A Century of Global Equity Market Correlations
pp. 535-540(6)
Authors: Quinn, Dennis P.; Voth, Hans-Joachim

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Papers: Assessment of Economics in US High Schools and Undergraduate Programs

The National Assessment of Educational Progress in Economics: Findings for General Economics
pp. 541-546(6)
Authors: Walstad, William B.; Buckles, Stephen

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The Test of Understanding of College Economics
pp. 547-551(5)
Authors: Walstad, William B.; Rebeck, Ken

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Assessment Practices and Trends in Undergraduate Economics Courses
pp. 552-556(5)
Authors: Schaur, Georg; Watts, Michael; Becker, William E.

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Proceedings

Susan C. Athey
pp. 559-560(2)
Author: Medalist, John Bates Clark

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Minutes of the Annual Meeting New Orleans, LA January 5, 2008
pp. 561-562(2)
Author: Siegfried, John J.

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Minutes of the Executive Committee Meetings
pp. 563-572(10)
Author: Siegfried, John J.

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Report of the Secretary for 2007
pp. 573-576(4)
Author: Siegfried, John J.

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Report of the Treasurer
pp. 577-580(4)
Author: Siegfried, John J.

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Report of the Editor: American Economic Review
pp. 581-590(10)
Author: Moffitt, Robert A.

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Report of the Editor: Journal of Economic Literature
pp. 591-593(3)
Author: Gordon, Roger

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Report of the Editor: Journal of Economic Perspectives
pp. 594-595(2)
Author: Shleifer, Andrei

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Report of the Editor: American Economic Journal: Economic Policy
pp. 599-600(2)
Author: Auerbach, Alan J.

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Report of the Editor: American Economic Journal: Macroeconomics
pp. 601-602(2)
Author: Blanchard, Olivier

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Report of the Editor: American Economic Journal: Microeconomics
pp. 603-604(2)
Author: Postlewaite, Andrew

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Report of the Director: Job Openings for Economists
pp. 605-607(3)
Author: Siegfried, John J.

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Report of the Committee on Economic Education
pp. 608-610(3)
Author: Watts, Michael

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Report of the Committee on Economic Statistics
pp. 628-628(1)
Author: Abraham, Katharine

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American Economic Association Universal Academic Questionnaire Summary Statistics
pp. 630-633(4)
Authors: Scott, Charles E.; Siegfried, John J.

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Information on the Association
pp. 634-634(1)
Author: Siegfried, John

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