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American Economic Review Vol. 107 No. 3 March 2017


Nonparametric Counterfactual Predictions in Neoclassical Models of International trade by Rodrigo AdaoArnaud Costinotand Dave Donaldson

Evidence Games: Truth and Commitment by Sergiu HartIlan Kremer andMotty Perry

Gender Differences in Accepting and Receiving Requests for Tasks with Low Promotability by Linda BabcockMaria P.RecaldeLise Vesterlund andLaurie Weingart

Using a Free Permit Rule to Forecast the Marginal Abatement Cost of Proposed Climate Policy by Kyle C. Meng

Inflation Dynamics during the Financial Crisis by Simon GilchristRaphaelSchoenleJae Sim and EgonZakrajšek

The Great Escape? A Quantitative Evaluation of the Fed’s Liquidity Facilities by Marco Del NegroGautiEggertssonAndrea Ferreroand Nobuhiro Kiyotaki

A Structural Model of the Retail Market for Illicit Drugs by Manolis Galenianos andAlessandro Gavazza

Modeling the Revolving Revolution: The Debt Collection Channel by Lukasz A. Drozd and RicardoSerrano-Padial

Unplanned Purchases and Retail Competition by Justin P. Johnson

URL: https://www.aeaweb.org/issues/446

Courtesy: AEA

Journal of Economic Literature Vol. 55 No. 1 March 2017


Criminal Deterrence: A Review of the Literature by Aaron Chalfin and JustinMcCrary

The Economic Consequences of Social-Network Structure by Matthew O. JacksonBrian W.Rogers and Yves Zenou

Information Avoidance by Russell GolmanDavidHagmann and GeorgeLoewenstein

Parties or Problem Sets: Review Article on How College Works and Paying for the Party by William R. Johnson

Game Theory and Cold War Rationality: A Review Essay by E. Roy Weintraub

Comments on Economic Models, Economics, and Economists: Remarks onEconomics Rules by Dani Rodrik by Ariel Rubinstein

Hansen and Sargent’sRecursive Models of Dynamic Linear Economies: A Review Essay by Kenneth D. West

A Review of Geoffrey M. Hodgson, Conceptualizing Capitalism: Institutions, Evolution, Future by Susan Rose-Ackerman

Capitalism and Socialism: A Review of Kornai’sDynamism, Rivalry, and the Surplus Economy by Chenggang Xu

Book Reviews

URL: https://www.aeaweb.org/issues/447

Courtesy: AEA

Economic and Political Weekly, Vol. 52, Issue No. 19, 13 May, 2017


URL: http://www.epw.in/journal/2017/19

Courtesy: EPW

Intensive and Extensive Margins of Exports: What Can India Learn from China?

C. Veeramani, Lakshmi A, Prachi Gupta

IGIDR WP-2017-002

We decompose India’s export performance in manufactured products during 2000-2015 into changes at the intensive and extensive margins. India’s performance, along different margins, is compared and contrasted with that of China. The results show that while China outperforms India at both the margins, the gap is particularly wide at the intensive margin. Decomposition of intensive margin along quantity and price margins shows that Chinese products are generally sold cheaper than Indian products. Higher price margin, however, has not translated into high intensive margin for India due to its abysmally low quantity margin. We examine different explanations for China’s superior performance relative to India, along different margins, using a gravity model. Our results suggest that China’s exchange rate policy was not the prime reason for its export success. Neither do we find that FDI inflows were significant in explaining the export performance gap between them. The results show that China’s export relationship bias towards high-income partner countries holds the key in understanding its superior performance. This bias is a natural consequence of China’s high degree of specialization in labor-intensive activities. India, by contrast, due to an idiosyncratic pattern of specialization, has failed to exploit its export potential in high income countries.

URL: http://www.igidr.ac.in/pdf/publication/WP-2017-002.pdf

Courtesy: IGIDR

American Economic Journal: Microeconomics Vol. 9 No. 1 February 2017

Financial innovation and its governance: Cases of two major innovations in the financial sector

Keren Naa Abeka Arthur
Financial Innovation, 2017, 3:10 (open access)

Abstract: The power of financial innovations to affect societies on global and intergenerational levels compels us to ask how we can ensure their responsible emergence in society. This requires an understanding of how innovation occurs and how it is governed in practice. Despite this, there is little research on the process and governance of financial innovation. The few studies conducted in this area have focused on the ‘backend’ of the innovation process. Therefore, using data from secondary sources, this study investigates how two major financial innovations occurred and were governed, and it discusses the findings in relation to those in the literature. This approach revealed that innovation processes fall within a continuum ranging from structured to unstructured. Moreover, lead times are potentially longer for innovations that are significantly disruptive, new to the market, and technological in nature. Finally, innovation processes can involve multiple stakeholders who use both statutory regulation and self-regulation for innovation governance. This paper concludes that innovation processes and their governance can vary significantly according to different areas of the financial landscape and associated innovation contexts. Thus, there is a need for more empirical work to understand such variability and practices in the sector as a whole.

url – https://jfin-swufe.springeropen.com/articles/10.1186/s40854-017-0060-2
courtesy – Springer

Journal of Economic Perspectives Vol. 31, No. 1, Winter 2017


Is China Socialist? by Barry Naughton

Human Capital and China’s Future Growth by Hongbin LiPrashant Loyalka,Scott Rozelle and Binzhen Wu

From “Made in China” to “Innovated in China”: Necessity, Prospect, and Challenges by Shang-Jin WeiZhuan Xie andXiaobo Zhang

A New Era of Pollution Progress in Urban China? by Siqi Zheng and Matthew E.Kahn

 Real Estate Boom with Chinese Characteristics by Edward GlaeserWei Huang,Yueran Ma and Andrei Shleifer

Why Does China Allow Freer Social Media? Protests versus Surveillance and propaganda by Bei QinDavid Strömberg andYanhui Wu

The Evolution of China’s One-Child Policy and Its Effects on Family Outcomes by Junsen Zhang


The New Life Cycle of Women’s Employment: Disappearing Humps, Sagging Middles, Expanding Tops by Claudia Goldin and JoshuaMitchell

Specialization Then and Now: Marriage, Children, and the Gender Earnings Gap across Cohorts by Chinhui Juhn and Kristin McCue

The Economic Consequences of Family Policies: Lessons from a Century of Legislation in High-Income Countries by Claudia Olivetti and BarbaraPetrongolo


How to Write an Effective Referee Report and Improve the Scientific Review Process by Jonathan B. BerkCampbell R.Harvey and David Hirshleifer


Retrospectives: Do Productive Recessions Show the Recuperative Powers of Capitalism? Schumpeter’s Analysis of the Cleansing Effect by Muriel Dal Pont Legrand andHarald Hagemann

Recommendations for Further Reading by Timothy Taylor 

URL: https://www.aeaweb.org/issues/444

Courtesy: AEA



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