Table Of Content

CONTENTS FOR VOLUME CXVII AUTHORS ACEMOGLU, DARON, SIMON JOHNSON, AND JAMES A. ROBINSON. Reversal of For- tune: Geography and Institutions in the Making of the Modern World Income Distribution ACEMOGLU, DARON, AND JAUME VENTURA. The World Income Distribution ALESINA, ALBERTO, AND ROBERT J. BARRO. Currency Unions ANDERSON, SIWAN, AND JEAN-MARIE BALAND. The Economics of Roscas and In- trahousehold Resource Allocation ANGELETOS, GEORGE-Marios. Fiscal Policy with Noncontingent Debt and the Optimal Maturity Structure ANGRIST, JOSH. How Do Sex Ratios Affect Marriage and Labor Markets? Evi- dence from America’s Second Generation ATHEY, SUSAN. Monotone Comparative Statics under Uncertainty BAKER, GEORGE, ROBERT GIBBONS, AND KEVIN J. MurPHY. Relational Contracts and the Theory of the Firm BALAND, JEAN-MARIE, AND SIWAN ANDERSON. The Economics of Roscas and In- trahousehold Resource Allocation Barro, ROBERT J., AND ALBERTO ALESINA. Currency Unions BENABOU, ROLAND, AND JEAN TIROLE. Self-Confidence and Personal Motivation BerG, Stacy DALE, AND ALAN B. KRUEGER. Estimating the Payoff to Attending a More Selective College: An Application of Selection on Observables and Unobservables BERTRAND, MaRIANNE, AND FRANCIS KRAMARZ. Does Entry Regulation Hinder Job Creation? Evidence from the French Retail Industry BERTRAND, MARIANNE, PARAS MEHTA, AND SENDHIL MULLAINATHAN. Ferreting out Tunneling: An Application to Indian Business Groups BESLEY, TIMOTHY, AND RoBIN Burcess. The Political Economy of Government Responsiveness: Theory and Evidence from India BLANCHARD, OLIVIER, AND ROBERTO PEROTTI. An Empirical Characterization of the Dynamic Effects of Changes in Government Spending and Taxes on BRESNAHAN, TIMOTHY F., ERIK BRYNJOLFSSON, AND LORIN M. Hirt. Erratum BRESNAHAN, TIMOTHY F., ERIK BRYNJOLFSSON, AND LorRIN M. Hirt. Information Technology, Workplace Organization, and the Demand for Skilled Labor: Firm-Level Evidence BRYNJOLFSSON, ERIK, TIMOTHY F. BRESNAHAN, AND LORIN M. Hirt. Erratum BRYNJOLFSSON, ERIK, TIMOTHY F. BRESNAHAN, AND LORIN M. Hirt. Information Technology, Workplace Organization, and the Demand for Skilled Labor: Firm-Level Evidence BurGEss, RoBIN, AND TIMOTHY BESLEY. The Political Economy of Government Responsiveness: Theory and Evidence from India CAILLAUD, BERNARD, AND JEAN TIROLE. Parties as Political Intermediaries ......... CALVO, GUILLERMO A., AND CARMEN M. REINHART. Fear of Floating CHARNESS, GARY, AND MATTHEW RaBIN. Understanding Social Preferences with Simple Tests CONSTANTINIDES, GEORGE M., JOHN B. DONALDSON, AND RAJNISH MEHRA. Junior Can’t Borrow: A New Perspective on the Equity Premium Puzzle vi CONTENTS FOR VOLUME CXVII DJANKOV, SIMEON, RAFAEL LA PorTA, FLORENCIO LOPEZ-DE-SILANES, AND ANDREI SHLEIFER. The Regulation of Entry DONALDSON, JOHN B., GEORGE M. CONSTANTINIDES, AND RAJNISH MEHRA. Junior Can’t Borrow: A New Perspective on the Equity Premium Puzzle DONOHUE III, JOHN J., JAMES J. HECKMAN, AND PETRA E. Topp. The Schooling of Southern Blacks: The Roles of Legal Activism and Private Philanthropy, 1910-1960 DUBEY, PRADEEP, AND JOHN GEANAKOPLOS Stiglitz Reconsidered EDLUND, LENA, AND ROHINI PANDE. Why Have Women Become Left-Wing? The Political Gender Gap and the Decline in Marriage FRANKEL, JEFFREY, AND ANDREW Rose. An Estimate of the Effect of Common Currencies on Trade and Income GALE, DOUGLAS, AND XAVIER VIVES. Dollarization, Bailouts, and the Stability of the Banking System GALOR, ODED, AND OMEK Moav. Natural Selection and the Origin of Economic GEANAKOPLOS, JOHN, AND PRADEEP DuBEY. Competitive Pooling: Rothschild- Stiglitz Reconsidered GIBBONS, ROBERT, GEORGE BAKER, AND KEVIN J. Murpuy. Relational Contracts and the Theory of the Firm GLAESER, EDWARD L., AND ANDREI SHLEIFER. Legal Origins ..................:::ccceeeeeees Gross, Davin B., AND NICHOLAS S. SOULELES. Do Liquidity Constraints and Interest Rates Matter for Consumer Behavior? Evidence from Credit Card GROSSMAN, GENE M., AND ELHANAN HELPMAN. Integration versus Outsourcing in Industry Equilibrium HECKMAN, JAMES J., JOHN J. DONOHUE III, AND PETRA E. Topp. The Schooling of Seuthern Blacks: The Roles of Legal Activism and Private Philanthropy, 1910-1960 HELPMAN, ELHANAN, AND GENE M. GROSSMAN. Integration versus Outsourcing in Industry Equilibrium Hitt, Lorin M., Timotuy F. BRESNAHAN, AND ERIK BRYNJOLFSSON. Erratum Hitt, Lorin M., Timotuy F. BRESNAHAN, AND ERIK BRYNJOLFSSON. Information Technology, Workplace Organization, and the Demand for Skilled Labor: Firm-Level Evidence 339 JEANNE, OLIVIER, AND ANDREW K. Rose. Noise Trading and Exchange Rate (NEESER EE Se POR Ene ee EP PERR RED a Re SR OR TN te Ee ee TP 537 JOHNSON, SIMON, DARON ACEMOGLU, AND JAMES A. ROBINSON. Reversal of For- tune: Geography and Institutions in the Making of the Modern World Income Distribution 1231 KRAMARZ, FRANCIS, AND MARIANNE BERTRAND. Does Entry Regulation Hinder Job Creation? Evidence from the French Retail Industry 1369 KRUEGER, ALAN B., AND Stacy BERG DALE. Estimating the Payoff to Attending a More Selective College: An Application of Selection on Observables and PION ce aac, “5 se een sulanireveviclrecnen ueubionis ubdassuads dbase tanaimarsinchiolecasiess 1491 LA Porta, RAFAEL, SIMEON DJANKOV, FLORENCIO LOPEZ-DE-SILANES, AND ANDREI SHLEIFER. The Regulation of Entry 1 LEVIN, JONATHAN. Multilateral Contracting and the Employment Relationship 1075 LOPEZ-DE-SILANES, FLORENCIO, SIMEON DJANKOV, RAFAEL LA Porta, AND ANDREI SHLEIFER. The Regulation of Entry MANKIW, N. GREGORY, AND RiIcARDO ReEIs. Sticky Information versus Sticky Prices: A Proposal to Replace the New Keynesian Phillips Curve Mauro, PAOLo, NATHAN SUSSMAN, AND YISHAY YAFEH. Emerging Market Spreads: Then versus Now CONTENTS FOR VOLUME CXVII McLakREN, JOHN. A Theory of Insidious Regionalism MEuHRA, RAJNISH, GEORGE M. CONSTANTINIDES, AND JOHN B. DONALDSON. Junior Can’t Borrow: A New Perspective on the Equity Premium Puzzle MEHTA, PARAS, MARIANNE BERTRAND, AND SENDHIL MULLAINATHAN. Ferreting out Tunneling: An Application to Indian Business Groups MILESI-FERRETTI, GIAN MARIA, ROBERTO PEROTTI, AND MASSIMO RosTaGNo. Elec- toral Systems and Public Spending Moav, OMER, AND ODED GALOR. Natural Selection and the Origin of Economic MULLAINATHAN, SENDHIL. A Memory-Based Model of Bounded Rationality MULLAINATHAN, SENDHIL, MARIANNE BERTRAND, AND PARAS MEHTA. Ferreting out Tunneling: An Application to Indian Business Groups Murpny, KEvIN J., GEORGE BAKER, AND ROBERT GIBBONS. Relational Contracts and the Theory of the Firm OBSTFELD, MAURICE, AND KENNETH RocorrF. Global hnplications of Self-Oriented NN I SO aoc 5 icicinarmasnbsenatnnsaciuipsnnibicnnenaneeuteeseiionanipnibadanene PANDE, ROHINI, AND LENA EDLUND. Why Have Women Become Left-Wing? The Political Gender Gap and the Decline in Marriage PEROTTI, ROBERTO, AND OLIVIER BLANCHARD. An Empirical Characterization of the Dynamic Effects of Changes in Government Spending and Taxes on PEROTTI, ROBERTO, GIAN MARIA MILESI-FERRETTI, AND MASSIMO ROSTAGNO. Elec- toral Systems and Public Spending RABIN, MATTHEW. Inference by Believers in the Law of Small Numbers RABIN, MATTHEW, AND GARY CHARNESS. Understanding Social Preferences with I SINE copicinichco sis conissscsnachcnnscthontoiehueken dnsaenaebcvakintasaeonstniaabaninioiaithapiniubainntion REINHART, CARMEN M., AND GUILLERMO A. CALVO. Fear of Floating Reis, RIcARDO, AND N. GREGORY MANkIW. Sticky Information versus Sticky Prices: A Proposal to Replace the New Keynesian Phillips Curve RoBINSON, JAMES A., DARON ACEMOGLU, AND SIMON JOHNSON. Reversal of For- tune: Geography and Institutions in the Making of the Modern World Income Distribution RoGorFr, KENNETH, AND MAURICE OBSTFELD. Global Implications of Self-Oriented DRE TE NI in cseeisvsssanossessnnninnisehbabscencicenasonsriiesinennvohizassionsinanninesine RosE, ANDREW, AND JEFFREY FRANKEL. An Estimate of the Effect of Common Currencies on Trade and Income Rose, ANDREW K., AND OLIVIER JEANNE. Noise Trading and Exchange Rate RosTAGNO, Massimo, GIAN MariA MILESI-FERRETTI, AND ROBERTO PEROTTI. Elec- toral Systems and Public Spending SAEZ, EMMANUEL. Optimal Income Transfer Programs: Intensive versus Exten- sive Labor Supply Responses SHLEIFER, ANDREI, SIMEON DJANKOV, RAFAEL LA PorTA, AND FLORENCIO LOPEz- DE-SILANES. The Regulation of Entry ...................:ccccccssseeceeesesseceeeeeeeseeeeeseeeeees SHLEIFER, ANDREI, AND EDWARD L. GLAESER. Legal Origins SOULELES, NICHOLAS S., AND Davip B. Gross. Do Liquidity Constraints and Interest Rates Matter for Consumer Behavior? Evidence from Credit Card SussMAN, NATHAN, PAOLO MAURO, AND YISHAY YAFEH. Emerging Market Spreads: Then versus Now TIROLE, JEAN, AND ROLAND BENABOU. Self-Confidence and Personal Motivation TIROLE, JEAN, AND BERNARD CAILLAUD. Parties as Political Intermediaries ......... Topp, Petra E., JOHN J. DONOHUE III, AND JAMES J. HECKMAN. The Schooling of Southern Blacks: The Roles of Legal Activism and Private Philanthropy, 1910-1960 Vili CONTENTS FOR VOLUME CXVII VENTURA, JAUME, AND DARON ACEMOGLU. The World Income Distribution VIOLANTE, GIOVANNI L. Technological Acceleration, Skill Transferability, and the Rise in Residual Inequality Vives, XAVIER, AND DOUGLAS GALE. Dollarization, Bailouts, and the Stability of the Banking System YAFEH, YISHAY, PAOLO MAURO, AND NATHAN SUSSMAN. Emerging Market Spreads: Then versus Now TITLES Competitive Pooling: Rothschild-Stiglitz Reconsidered. Pradeep Dubey and TIN ts ns ses vada soc usnhich Voddp sham hen Roaunbnnennbniindcspasavsneseawcaskesmnsaienaih Currency Unions. Alberto Alesina and Robert J. Barro Do Liquidity Constraints and Interest Rates Matter for Consumer Behavior? Evi- dence from Credit Card Data. David B. Gross and Nicholas S. Souleles ....... Does Entry Regulation Hinder Job Creation? Evidence from the French Retail Industry. Marianne Bertrand and Francis Kramar .................:.cc:ceseseeeeeeees Dollarization, Bailouts, and the Stability of the Banking System. Douglas Gale IID IIIT ti ah Cisesstcibs Soucieicicnsedasncecbanedchosknssabspeetsanindedcnaabadibéackdbeaictnskskschci The Economics of Roscas and Intrahousehold Resource Allocation. Siwan Ander- son and Jean-Marie Baland Electoral Systems and Public Spending. Gian Maria Milesi-Ferretti, Roberto Perotti, and Massimo Rostagno Emerging Market Spreads: Then versus Now. Paolo Mauro, Nathan Sussman, and Yishay Yafeh An Empirical Characterization of the Dynamic Effects of Changes in Government Spending and Taxes on Output. Olivier Blanchard and Roberto Perotti Erratum. Timothy F. Bresnahan, Erik Brynjolfsson, and Lorin M. Hitt An Estimate of the Effect of Common Currencies on Trade and Income. Jeffrey Frankel and Andrew Rose Estimating the Payoff to Attending a More Selective College: An Application of Selection on Observables and Unobservables. Stacy Berg Dale and Alan B. Krueger Fear of Floating. Guillermo A. Calvo and Carmen M. Reinhart Ferreting out Tunneling: An Application to Indian Business Groups. Marianne Bertrand, Paras Mehta, and Sendhil Mullainathan Fiscal Policy with Noncontingent Debt and the Optimal Maturity Structure. a 55 a ceva sccennenisunbccume i itvenicenaadbacnsnicaeiny xebdabeduennebeceniniince Global Implications of Self-Oriented National Monetary Rules. Maurice Obstfeld and Kenneth Rogoff How Do Sex Ratios Affect Marriage and Labor Markets? Evidence from Amer- ica’s Second Generation. Josh Angrist Inference by Believers in the Law of Small Numbers. Matthew Rabin Information Technology, Workplace Organization, and the Demand for Skilled Labor: Firm-Level Evidence. Timothy F. Bresnahan, Erik Brynjolfsson, and Lorin M. Hitt Integration versus Outsourcing in Industry Equilibrium. Gene M. Grossman and Elhanan Helpman Junior Can’t Borrow: A New Perspective on the Equity Premium Puzzle. George M. Constantinides, John B. Donaldson, and Rajnish Mehra Legal Origins. Edward L. Glaeser and Andrei Shleifer A Memory-Based Model of Bounded Rationality. Sendhil Mullainathan Monotone Comparative Statics under Uncertainty. Susan Athey Multilateral Contracting and the Employment Relationship. Jonathan Levin CONTENTS FOR VOLUME CXVII Natural Selection and the Origin of Economic Growth. Oded Galor and Omer Noise Trading and Exchange Rate Regimes. Olivier Jeanne and Andrew K. Optimal Income Transfer Programs: Intensive versus Extensive Labor Supply Responses. Emmanuel Saez Parties as Political Intermediaries. Bernard Caillaud and Jean Tirole The Political Economy of Government Responsiveness: Theory and Evidence from India. Timothy Besley and Robin Burgess The Regulation of Entry. Simeon Djankov, Rafael La Porta, Florencio Lopez-de- Silanes, and Andrei Shleifer Relational Contracts and the Theory of the Firm. George Baker, Robert Gibbons, and Kevin J. Murphy Reversal of Fortune: Geography and Institutions in the Making of the Modern World Income Distribution. Daron Acemoglu, Simon Johnson, and James A. Robinson The Schooling of Southern Blacks: The Roles of Legal Activism and Private Philanthropy, 1910-1960. John J. Donohue III, James J. Heckman, and Petra E. Todd Self-Confidence and Personal Motivation. Roland Bénabou and Jean Tirole Sticky Information versus Sticky Prices: A Proposal to Replace the New Keynes- ian Phillips Curve. N. Gregory Mankiw and Ricardo Reis Technological Acceleration, Skill Transferability, and the Rise in Residual In- equality. Giovanni L. Violante ................... iauiausunisapaavaneedbanencumintnainasenacentaded A Theory of Insidious Regionalism. John McLaren Understanding Social Preferences with Simple Tests. Gary Charness and Mat- thew Rabin Why Have Women Become Left-Wing? The Political Gender Gap and the Decline in Marriage. Lena Edlund and Rohini Pande The World Income Distribution. Daron Acemoglu and Jaume Ventura