Journal of Political Economy

1893 - 2024

From University of Chicago Press
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Volume 87, issue 6, 1979

An Equilibrium Theory of the Distribution of Income and Intergenerational Mobility pp. 1153-89

Gary Becker and Nigel Tomes

The Volatility of Long-Term Interest Rates and Expectations Models of the Term Structure pp. 1190-1219

Robert Shiller

Parametric Productivity Measurement and Choice among Flexible Functional Forms pp. 1220-45

Ernst R Berndt and Mohammed Khaled

Firm-specific Capital and Turnover pp. 1246-60

Boyan Jovanovic

Why Is There Mandatory Retirement? pp. 1261-84

Edward Lazear

Expectations and Output-Inflation Tradeoffs in a Fixed-Exchange-Rate Economy pp. 1285-1306

Leonardo Leiderman

Recursive Structure in U.S. Income, Prices, and Output pp. 1307-27

Charles Nelson

Quacks, Lemons, and Licensing: A Theory of Minimum Quality Standards pp. 1328-46

Hayne Leland

The Optimal Payment of Unemployment Insurance Benefits over Time pp. 1347-62

Steven Shavell and Laurence Weiss

The Rate of Return to Storing Wines pp. 1363-67

William S Krasker

Marginal Consumers and Neoclassical Demand Theory pp. 1368-76

William Novshek and Hugo Sonnenschein

A Note on Inflation and Concentration pp. 1377-82

Micha Gisser and Ronald N Johnson

Volume 87, issue 5, 1979

Education and Self-Selection pp. S7-36

Robert Willis and Sherwin Rosen

Sibling Models and Data in Economics: Beginnings of a Survey pp. S37-64

Zvi Griliches

Effects of Cohort Size on Earnings: The Baby Boom Babies' Financial Bust pp. S65-97

Finis Welch

Education, Unemployment, and Earnings pp. S99-116

Orley Ashenfelter and John Ham

Education and Lifetime Patterns of Unemployment pp. S117-31

Stephen Nickell

Family Income Distribution: Explanation and Policy Evaluation pp. S133-61

Richard Layard and Antoni Zabalza

The Distribution of Family Earnings pp. 163-92

James Smith

On Education and Distribution pp. S193-212

Paul Hare and D T Ulph

Population Heterogeneity and Inference from Panel Data on the Effects of Vocational Education pp. S213-26

Nicholas Kiefer

Testing the Educational Screening Hypothesis pp. S227-52

John Riley

Douglas on Wages on the Supply of Labor pp. 915-22

Albert Rees

Paul Douglas's Measurement of Production Functions and Marginal Productivities pp. 923-39

Paul Samuelson

On the Determination of the Public Debt pp. 940-71

Robert Barro

Job Matching and the Theory of Turnover pp. 972-90

Boyan Jovanovic

Hierarchy, Ability, and Income Distribution pp. 991-1010

Guillermo Calvo and Stanislaw Wellisz

The Effects of Ideal Production Stabilization: A Welfare Analysis Under Rational Behavior pp. 1011-33

Brian Wright

Contracts, Price Rigidity, and Market Equilibrium pp. 1034-62

Dennis Carlton

Nominal Demand Policy and Short-Run Fluctuations in Unemployment and Prices in the United States pp. 1063-85

Jacob Grossman

Bonus Payments, on-the-Job Training, and Lifetime Employment in Japan pp. 1086-1104

Masanori Hashimoto

The Composition of Trade within Import-restricted Product Categories pp. 1105-14

Rodney Falvey

Inflation, Mortgages, and Housing pp. 1115-38

J R Kearl

Mullahs, Muslims, and Marital Sorting pp. 1139-43

Gerald W Scully

Volume 87, issue 4, 1979

Transaction Costs in a Model of Capital Market Equilibrium pp. 673-700

Joram Mayshar

An Analysis of the Accuracy of Four Macroeconometric Models pp. 701-18

Ray Fair

A General Equilibrium Entrepreneurial Theory of Firm Formation Based on Risk Aversion pp. 719-48

Richard E Kihlstrom and Jean-Jacques Laffont

The Welfare Cost of Permanent Inflation and Optimal Short-Run Economic Policy pp. 749-68

Martin Feldstein

Of Risk Taking and the Personal Distribution of Income pp. 769-97

Ravi Kanbur

Wage Indexing Rules and the Behavior of the Economy pp. 798-815

Olivier Blanchard

Simulation Methodology in Macroeconomics: An Innovation Technique pp. 816-36

Frederic Mishkin

Unemployment, Justice, and Keynes's General Theory pp. 837-50

Reuven Brenner

A Simple Model of Equilibrium Price Dispersion pp. 851-58

Jennifer Reinganum

The Impact of Taxation and Valuation Practices on the Timing and Efficiency of Land Use pp. 859-68

Brian L Bentick

The Incidence of a Tax on Pure Rent: A New (?) Reason for an Old Answer pp. 869-74

Guillermo Calvo, Laurence Kotlikoff and Carlos Rodríguez

Is "a New and Superior Process" Really Superior? pp. 875-90

William H Riker

Expense-Preference Behavior in Banking: A Reexamination pp. 891-95

Timothy Hannan

Volume 87, issue 3, 1979

Searching for an Explanation of Unemployment in Interwar Britain pp. 441-78

Daniel Benjamin and Levis A Kochin

Wages and Unemployment in a Poor Agrarian Economy: A Theoretical and Empirical Analysis pp. 479-500

Pranab Bardhan

Sharing, Monitoring, and Incentives: Marshallian Misallocation Reassessed pp. 501-21

Robert Lucas

Optimal Investment in Schooling when Incomes are Risky pp. 522-39

Lawrence Olson, Halbert White and H M Shefrin

Value of Life Saving: Implications of Consumption Activity pp. 540-58

Glenn Blomquist

The Processing of Primary Commodities: Effects of Developed-Country Tariff Escalation and Developing-Country Export Taxes pp. 559-77

Stephen Golub and Joseph Finger

Quasi Optimality: The Price We Must Pay for a Price System pp. 578-99

William Baumol

The Effects of Devaluation on the Trade Balance and the Balance of Payments: Some New Results pp. 600-20

Marc A Miles

Inflation and the Choice of Asset Life pp. 621-38

Alan Auerbach

Anticipated Shocks and Exchange Rate Dynamics pp. 639-47

Charles A Wilson

A Mixed Logit Model of the Relationship between Unionization and Right-to-Work Legislation: Comment pp. 648-55

Ronald Warren and Robert Strauss

Volume 87, issue 2, 1979

Anticipations and the Nonneutrality of Money pp. 225-52

Stanley Fischer

A Model of Innovation, Technology Transfer, and the World Distribution of Income pp. 253-66

Paul Krugman

Capital Immobility, Adjustment Costs, and the Theoretical Foundations of Income-Expenditure Models pp. 267-91

John Floyd and J Allan Hynes

The Efficient Allocation of Individuals to Positions pp. 293-314

Aanund Hylland and Richard Zeckhauser

Preferential Trading Theory: The n Commodity Case pp. 315-31

Eitan Berglas

Compliance with the Minimum Wage Law pp. 333-50

Orley Ashenfelter and Robert S Smith

One-Way Arbitrage and Its Implications for the Foreign Exchange Markets pp. 351-64

Alan Deardorff

The Inefficiency of Interest-bearing National Debt pp. 365-81

John Bryant and Neil Wallace

A Comment on Fisher and Temin on the Schumpeterian Hypothesis pp. 383-85

Carlos Rodríguez

The Schumpeterian Hypothesis: Reply pp. 386-89

Franklin M Fisher and Peter Temin

Granger Causality and the Natural Rate Hypothesis pp. 390-94

Charles Nelson

On the Observational Inequivalence of Classical and Keynesian Models pp. 395-402

Bennett McCallum

Causality, Exogeneity, and Natural Rate Models: Reply to C. R. Nelson and B. T. McCallum pp. 403-09

Thomas Sargent

Covered Interest Arbitrage: Unexploited Profits? Comment pp. 411-17

Frank McCormick

Covered Interest Arbitrage and Unexploited Profits? Reply pp. 418-22

Jacob A Frenkel and Richard M Levich

Anti Sealing as an Industry pp. 423-28

Jeremiah Allen

Volume 87, issue 1, 1979

An Economic Basis for the "National Defense Argument" for Aiding Certain Industries pp. 1-36

Earl A Thompson

The Possibility of Rational Social Choice in an Economy pp. 37-56

Martin J Bailey

Monetarism, Rational Expectations, Oligopolistic Pricing, and the MPS Econometric Model pp. 57-73

Bennett McCallum

Subjective Information and Market Efficiency in a Betting Market pp. 75-88

Stephen Figlewski

An Empirical Job-Search Model, with a Test of the Constant Reservation-Wage Hypothesis pp. 89-107

Nicholas Kiefer and George R Neumann

The Demand for Money and the Term Structure of Interest Rates pp. 109-29

H Robert Heller and Mohsin Khan

On Compulsory-Arbitration Schemes pp. 131-59

Vincent Crawford

The Transition of Land to Urban Use pp. 161-69

Richard Arnott and Frank Lewis

On the Specification of Asset Equilibrium in Macroeconomic Models: A Note pp. 171-77

Edi Karni

Evidence on Structural Change in the Demand for Aggregate U.S. Imports and Exports pp. 179-92

Robert Stern, Christopher Baum and Mark N Greene

A Note on Uncertain Lifetimes pp. 193-95

Eliakim Katz

The Distribution of Lifetime Labor Force Participation of Married Women: Comment pp. 197-201

Jacob Mincer and Haim Ofek

Reply to Mincer and Ofek [The Distribution of Lifetime Labor Force Participation of Married Women] pp. 203-11

James Heckman and Robert Willis