CONTENTS OF THE PAPERS AND PROCEEDINGS (May Issue) Richard T. Ely Lecture New Approaches to Discrimination O. E. Williamson: The Economics of Governance M. Bertrand, D. Chugh, and S. Mullainathan: Implicit Discrimination International intrafirm F roduction Decisions R. M. Blank: Tracing the Economic Impact of Cu G. M. Grossman, E. Ueipman, and A. Szeidl: mulative Discrimination Complementarities between Outsourcing and H. Fang and G. C. Loury: “Dysfunctional Identi Foreign Sourcing ties” Can Be Rational P. Antras: Property Rights and the International Or- J. G. Altonji: Employer Learning, Statistical Dis ganization of Production crimination, and Occupational Attainment M. A. Desai, C. F. Foley, and J. R. Hines, Jr.: Foreign Direct Investment and the Domestic Profiling: Normative, Theoretical, and Empir- Capital Stock ical Issues E. Blume: Learning and Statistical The Democratic Transition and Economic Discrimination Growth C. F. Manski: Optimal Search Profiling with Linear R. P. Inman and D. L. Rubinfeld: Federalism and Deterrence the Democratic Transition: Lessons from South N. Persico and P. E. Todd: Passenger Profiling, Africa Imperfect Screening, and Airport Security D. Acemoglu, S. Johnson, J. A. Robinson, and P. S. N. Durlauf: Racial Profiling as a Public Policy Ques Yared: From Education to Democracy? tion: Efficiency, Equity, and Ambiguity D. Rodrik and R. Wacziarg: Do Democratic Tran- sitions Produce Bad Economic Outcomes? Are Concerns about Relative Income Relevant for Public Policy? Foreign-Born Domestic Supply of Science and R. H. Frank: Positional Externalities Cause Large Engineering Workforce and Preventable Welfare Losses G. Borjas: The Labor-Market Impact of High-Skill T. J. Kniesner and W. K. Viscusi: Value of a Immigration Statistical Life: Relative Position vs. Relative Age R. B. Freeman: Fellowship Stipend Support and the Supply of Science and Engineering Students S. J. Solnick and D. Hemenway: Are Positional NSF Graduate Research Fellowships Concerns Stronger in Some Domains than in Others? Y. P. Chen: Skill-Sorting, Self-Selectivity, and Im migration Policy Regime Change: Two Surveys Understanding Teacher Quality of Chinese Graduate Students’ Intention to Study Abroad E. P. Bettinger and B. T. Long: Do Faculty Serve as Role Models? The Impact of Instructor Gender P. E. Stephan and J. Ma: The Increased Frequency on Female Students and Duration of the Postdoctorate Career Stage T. S. Dee: A Teacher Like Me: Does Race, Ethnicity, or Gender Matter? Skills, Policy, and Labor-Market Outcomes D. Boyd, H. Lankford, S. Loeb, and J. Wyckoff: across Demographic Groups Explaining the Short Careers of High-Achiev- ing Teachers in Schools with Low-Performing P. N. Jefferson: Does Monetary Policy Affect Rel- Students ative Educational Unemployment Rates? L. Barrow and C. E. Rouse: Do Returns to School- Perspectives on Research and Teaching in ing Differ by Race and Ethnicity? Economics N. Eissa and A. Nichols: Tax-Transfer Policy and W. E. Becker and P. E. Kennedy: Does Teaching Labor-Market Outcomes Enhance Research in Economics W. B. Walstad and S. Allgood: Views of Teach Alcohol Taxation and Control ing and Research in Economics and Other S. Markowitz, R. Kaestner, and M. Grossman: An Disciplines Investigation of the Effects of Alcohol Con R. G. Ehrenberg: Involving Undergraduates in Re sumption and Alcohol Policies on Youth Risky search to Encourage Them to Undertake Ph.D Sexual Behaviors Study in Economics . Carpenter: Heavy Alcohol Use and the Com mission of Nuisance Crime: Evidence from Un Education and Health of Women and Children derage Drunk Driving Laws A. Adsera: Vanishing Children: From High Un D. S. Kenkel: Are Alcohol Tax Hikes Fully Passed employment to Low Fertility in Developed Through to Prices? Evidence from Alaska Countries P. J. Cook, J. Ostermann, and F. A. Sloan: The Net C. M. Kalenkoski, D. C. Ribar, and L. S. Stratton: Effect of an Alcohol Tax Increases on Death Parental Child Care in Single-Parent, Cohabit Rates in Middle ge ing, and Married-Couple Families: Time-Diary Evidence from the United Kingdom Cars, Gas, and Pollution Policies D. Whitmore: Resource and Peer Impacts on Girls’ 4. M. Bento, L. H. Goulder, E. Henry, M. R. Academic Achievement: Evidence from a Ran Jacobsen, and R. H. von Haefen: Distribu domized Experiment tional and Efficiency Impacts of Gasoline Tax L. Schmidt: Infertility Insurance Mandates and es: An Econometrically Based Multi-market Fertility Study I, W. H. Parry: Is Pay-as-You-Drive Insurance a Insurance Markets and Health Care Better Way to Reduce Gasoline than Gasoline M. Chernew, D. M. Cutler, P. S. Keenan: Charity Taxes Care, Risk Pooling, and the Decline in Private S. E. West and R. C. Williams III: The Cost of Health Insurance Reducing Gasoline Consumption K. Baicker and A. Chandra: The Consequences of D. Fullerton and L. Gan: Cost-Effective Policies to the Growth of Health Insurance Premiums Reduce Vehicle E missions M. V. Pauly: Effects of Insurance Coverage on Use of Care and Health Outcomes for Nonpoor Technology, Trade, and Investment Young Women 4. Aizcorbe: Moore’s Law, Competition, and Intel's A. Finkelstein, K.M cGarry, and A. Sufi: Dynamic Productivity in the Mid-1990s Inefficiencies in Insurance Markets: Evidence from Long-Term Care Insurance J. thrig: The Influence of Technology on Foreign Direct Investment SES Gradients in Health S. W. Pabilonia and C. Zoghi: Returning to the A. Case and A. Deaton: Health aiid Wealth among the Returns to Computer Use Poor: India and South Africa Compared M. Connolly and D. Valderrama: Implications of D. Goldman and J. P. Smith: Socioeconomic Intellectual Property Rights for Dynamic Gains Differences in the Adoption of New Medical from Trade Technologies Regulation and the High Cost of Housing D. M. Cutler and E. Glaeser: What Explains Dif ferences in Smoking, Drinking, and Other J. M. Quigley and S. Raphael: Regulation and the Health-Related Behaviors? High Cost of Housing in California E. Glaeser, J. Gyourko, and R. E. Saks. Why Have Recent Developments in Health Economics Housing Prices Gone Up? M. Gaynor, H. Seider, and W. B. Vogt: The Vol- R. K. Green, S. Malpezzi, and S. K. Mayo: ume-Outcome Effect, Scale Economies, and Metropolitan-Specific Estimates of the Price Learning-by-Doing Elasticity of Supply of Housing and Their 4. Aizer, A. Lleras-Muney, and M. Stabile: Access Sources to Care, Provider Choice, and the Infant Health Gradient Neuroscientific Foundations of Economi D. Lakdawalla, T. Philipson, and J. Bhattacharya: Decision-Making Welfare-Enhancing Technological Change and T. Singer and E. Fehr: The Neuroeconomics of the Growth of Obesity Mind Reading and Empathy D. Almond and B. Mazumder: The 1918 Influenza E. Fehr, U. Fischbacher, and M. Kosfeld: Neuro Pandemic and Subsequent Health Outcomes economic Foundations of Trust and Social Pref An Analysis of SIPP Data erences: Initial Evidence Cognitive Neuroscientific Foundations of Eco Financial Economics, Macroeconomics, and nomic Behavior Econometrics: The Interface A. W. Lo, D. V. Repin, and B. N. Steenbarger: lr. G. Andersen, T. Bollereslev, F. X. Diebold and J. Fear and Greed in Financial Markets: A Clini (G.) Wu: A Framework for Exploring the Macro cal Study of Day-Traders economic Determinants of Systematic Risk P. J. Zak, K. Borja, W. T. Matzner, and R. M. D. D. Evans and R. K. Lyons: Meese-Rogoff Redux Kurzban: The Neuroeconomics of Dis Micro-Based Exchange-Rate Forecasting trust: Sex Differences in Behavior and F. X. Diebold , M. Piazzesi, and G. D. Rude- Physiology busch: Modeling Bond Yields in Finance and Macroeconomics Practical Market Design: Four Matches Dynamic Scoring A. Abdulkadiroglu, P. A. Pathak, and A. E. A. J. Auerbach: Dynamic Scoring: An Introduction Roth: The New York City High School to the Issues Match R. Carroll and W. Hrung: What Does the Taxable 4. Abdulkadiroglu, P. A. Pathak, A. E. Roth, Income Elasticity Say About Dynamic Re and T. Sénmez: The Boston Public School sponses to Tax Changes? Match R. Altshuler, N. Bull, J. Diamond, T. Dowd, and P. M. Niederie and A. E. Roth: The Gastroenterol Moomau: The Role of Dynamic Scoring in the ogy Feilowship Market: Should There Be Federal Budget Process: Closing the Gap be Match? tween Theory and Practice 4. E. Roth, T. Sémmez, and M. U. Unver: A B. R. Page: CBO’s Analysis of the Macroeco Kidney Exchange Clearinghouse in New Effects of the President's Budget England Competition Policy for Journals 4. S. Edlin and D. L. Rubinfeld: The Bundling of New Perspectives on Reputation and Debt Academic Journals V. V. Chari, P. J. Kehoe, and E. R. McGrattan: 4. Nevo, D. L. Rubinfeld, and M. J. McCabe: Sudden Stops and Output Drops Academic Journal Pricing and the Demand of M. L. J. Wright: Coordinating Creditors Libraries J. Bulow and K. Rogoff: Grants versus Loans for M. J. McCabe and C. M. Snyder: Open Ac Development Banks Academic Journal Quality CONTENTS OF ARTICLES AND SHORTER PAPERS M. Feldstein: Rethinking Social Insurance nomic News: Evidence and Implications for R. Shimer: The Cyclical Behavior of Equilibrium Macroeconomic Models Unemployment and Vacancies: . Black, P. J. Devereux, and K. G. Salvanes: R. E. Hall: Employment Fluctuations with Equilib Why the Apple Doesn’t Fall Far: Understand rium Wage Stickiness ing Intergenerational Transmission of Human Capital A. Abiad and A. Mody: Financial Reform: What Shakes It? What Shapes It? P. Thompson and M. Fox-Kean: Patent Citations and the Geography of Knowledge Spillovers: A T. Yun: Optimal Monetary Policy with Relative Reassessment Price Distortions Rh. Henderson, A. Jaffe, and M. Trajtenberg: Patent A. J. Auerbach and M. Obstfeld: The Case for Citations and the Geography of Knowledge Spill Open-Market Purchases in a _ Liquidity overs: A Reassessment: Comment Tray P. Thompson and M. Fox-Kean: Patent Citations J. H. Cochrane and M. Piazzesi: Bond Risk and the Geography of Knowledge Spillovers: A Premia Reassessment: Reply ©. Jorda: Estimation and Inference of Impulse Re D. Levin: Demand Reduction in Multi-Unit Auc sponses by Local Projections tions: Evidence from a Sportscard Field Exper J. Greenwood, A. Seshadri, and G. Vanden- iment: Comment broucke: The Baby Boom and Baby Bust R. Engelbrecht-Wiggans, J. A. List, and D. H. D. M. Bernhofen and J. C. Brown: An Empirical Reiley: Demand Reduction in Multi-Unit Auc Assessment of the Comparative Advantage tions: Evidence from a Sportscard Field Exper Gains from Trade: Evidence from Japan iment: Reply J. Wynne: Wealth as a Determinant of Comparative D. J. Cooper and J. H. Kagel: Are Two Heads Advantage Better Than One? Team versus Individual Play B. Chowdhry, R. Roll, and Y. Xia: Extracting In in Signaling Games flation from Stock Returns to Test Purchasing J. Duffy and E. O’N. Fisher: Sunspots in the Power Parity Laboratory G. S. Becker, T. J. Philipson, and R. R. Soares: C. R. Plott and K. Zeiler: The Willingness to Pay The Quantity and Quality of Life and the Evo Willingness to Accept Gap, the “Endowment lution of World Inequality Effect,” Subject Misconceptions, and Experi C. L. Evans and J. Harrigan: Distance, Time, and mental Procedures for Eliciting Valuations Specialization: Lean Retailing in General D. Acemoglu, S. Johnson, and J. Robinson: The Equilibrium Rise of Europe: Atlantic Trade, Institutional A. Rangel: How to Protect Future Generations Using Change, and Economic Growth Tax-Base Restrictions R. R. Soares: Mortality Reductions, Educational At D. Diermeier, M. Keane, and A. Merlo: A Po tainment, and Fertility Choice litical Economy Model of C: ngressional 4. Alesina, I. Angeloni, and F. Etro: International Careers Unions S. W. Mukand and D. Rodrik: In Search of the I. Besley and M. Ghatak: Competition and Incen Holy Grail: Policy Convergence, Experimenta tives with Motivated Agents tion, and Economic Performance M. Battaglini: Long-Term Contracting with Mark Gneezy: Deception The Role of Conse ovian Consumers quences J. Dow, G. Gorton, and A. Krishnamurthy: Equi W. Schlenker, W. M. Hanemann, and A. C. librium Investment and Asset Prices under Im Fisher: Will U.S. Agriculture Really Benefit perfect Corporate Control from Global Warming? Accounting for Irriga R. W. Michener and R. E. Wright: Siate “Curren tion in the Hedonic Approach cies” and the Transition to the U.S. Dollar D. Leslie: Are Delays in Academic Publishing Clarifying Some Confusion Necessary? D. Hummels and P. J. Klenow: The Variety and C. Meghir and M. Palme: Educational Reform, Quality of a Nation’s Exports Ability, and Family Background M. J. Crucini, C. I. Telmer, and M. Zachariadis: R. S. Giirkaynak, B. Sack, and E. Swanson: The Understanding European Real Exchange Sensitivity of Long-Term Interest Rates to Eco Rates M. Iacoviello: House Prices, Borrowing Con J. A. Parker and B. Preston: Precautionary Saving straints, and Monetary Policy in the Business and Consumption Fluctuations Cycle J. Peek and E. S. Rosengren: Unnatural Selection G. Saint-Paul: Some Evolutionary Foundations for Perverse Incentives and the Misallocation of Price Level Rigidity Credit in Japan R. Burgess and R. Pande: Do Rural Banks Matter? K. Hoff and A. Sen: Homeownership, Community Evidence from the Indian Social Banking Interactions, and Segregation Experiment A. Banerjee and L. Iyer: History, Institutions, and Economic Performance: The Legacy of Colo J. G. Montalvo and M. Reynal-Querol: Ethnic Polar nial Land Tenure Systems in India ization, Potential Conflict, and Civil Wars P. Moser: How Do Patent Laws Influence Innova H. Cai and D. Treisman: Does Competition for tion? Evidence from Nineteenth-Century Capital Discipline Governments? Decentraliza World’s Fairs tion, Globalization, and Public Policy K. Y. Chay, P. J. McEwan, and M. Urquiola: The E. Saez and M. R. Veall: The Evolution of High Central Role of Noise in Evaluating Interventions Incomes in Northern America: Lessons from That Use Test Scores to Rank Schools Canadian Evidence A. V. Catao and S. N. Solomou: Effective Ex A. Faure-Grimaud and R. Inderst: Cong'omerate change Rates and the Classical Gold Standard Entrenchment under Optimal Financial Adjustment Contracting I. W. H. Parry and K. A. Small: Does Britain or A. Prat: The Wrong Kind of Transparency the United States Have the Right Gasoline Tax 1 C. N. McKinney, M. Niederie, and A. E. Roth: The Collapse of a Medical Labor Clearinghouse P. Dasgupta and E. Maskin: Uncertainty and Hy perbolic Discounting (and Why Such Failures Are Rare) G. Charness and D. Levin: When Optimal Choices Y. Lengwiler: Heterogeneous Patience and the Term Fee! Wrong: A Laboratory Study of Bayesian Structure of Real Interest Rates Updating, Complexity, and Affect G. W. Harrison, E. Johnson, M. M. McInnes, and M. Urquiola: Does School Choice Lead to Sorting? E. E. Rutstrém: Risk Aversion and Incentive Evidence from Tiebout Variation Effects: Comment K. Lang, M. Manove, and W. T. Dickens: Racial C. A. Holt and S. K. Laury: Risk Aversion and Discrimination in Labor Markets with Posted Incentive Effects: New Data without Order W age Offers Effects F. W. Grubb: State “Currencies” and the Transition J. W. Hatfield and P. R. Milgrom: Matching with to the U.S. Dollar: Reply—Including a New Contracts View from Canada P. M. DeMarzo, I. Kremer, and A. Skrzypacz: F. De Sinopoli and G. lannantuoni: Meetings with 3idding with Securities: Auctions and Security Costly Participation: Comment Design M. J. Osborne, J. S. Rosenthal, and M. A. Turner: Meetings with Costly Participation: Reply A. Alesina and G.-M. Angeletos: Fairness and Redistribution E. Aragones, I. Gilboa, A. Postelwaite, and D. Schmeidier: Fact-Free Learning J. M. Snyder, Jr., M. M. Ting, and S. Ansolabe- here: Legislative Bargaining under Weighted S. Guriev and D. Kvasov: Contracting on Voting Time L. Santos-Pinto and J. Sobel: A Mode! of Positive M. Pagano and P. F. Volpin: The Political Economy Self-Image in Subjective Assessments of Corporate Governance M. Drehmann, J. Oechssler, and A. Roider: Herd S. Mullainathan and A. Shleifer: The Market for ing and Contrarian Behavior in Financial Mar News kets: An Internet Experiment P. Antras: Incomplete Contracts and the Product M. Cipriani and A. Guarino: Herd Behavior in : Cycle Laboratory Financial Market A. F. Daughety and J. F. Reinganum: Secrecy and M. Israel: Services as Experience Goods: An Em Safety pirical Examination of Consumer Learning in M. K. Brunnermeier and J. A. Parker: Optimal Automobile Insurance Expectations E. Rossi-Hansberg: A Spatial Theory of Trade M. Doepke and F. Zilibotti: The Macroeconomics C.-T. Hsieh and K. T. Woo: The Impact of Out- of Child Labor Regulation sourcing to China on Hong Kong’s Labor L. S. Dafny: How Do Hospitals Respond to Price Market Changes? D. S. Karlan: Using Experimental Economics to A. D. Morrison and L. White: Crises and Capital Measure Social Capital and Predict Financial Requirements in Banking ‘ Decisions . T. Davidoff, J. R. Brown, and P. A. Diamond: B. Hay and K. E. Spier: Manufacturer Liability for Annuities and Individual Welfare Harms Caused by Consumers to Others P. Dal B6é: Cooperation under the Shadow of the 4. B. Ashcraft: Are Banks Really Special? New Future: Experimental Evidence from Infinitely Evidence from the FDIC-Induced Failure of Repeated Games Healthy Banks Z. Ivkovié, J. Poterba, and S. Weisbenner: Tax M. Dufwenberg, T. Lindqvist, and E. Moore: Bub- Motivated Trading by Individual Investors bles and Experience: An Experiment D. E. M. Sappington: On the Irreievance of Input K. L. Antonovics and A. S. Goldberger: Does Prices for Make-or-Buy Decisions Increasing Women’s Schooling Raise the B. Knight: Estimating the Value of Proposal Schooling of the Next Generation? Power Comment M. Cervellati and U. Sunde: Human Capital For- J. R. Behrman and M. R. Rosenzweig: Does In mation, Life Expectancy, and the Process of creasing Women’s Schooling Raise the School- Development ing of the Next Generation? Reply