Quarterly Journal of Economics articles

Recent articles from Quarterly Journal of Economics

THE IMPACT OF LEGALIZED ABORTION ON CRIME [*].
May 1, 2001... We offer evidence that legalized abortion has contributed significantly to recent crime reductions. Crime began to fall roughly eighteen years after abortion legalization. The five states that allowed abortion in 1970 experienced declines earlier than the rest of the nation, which legalized...

WELFARE AND MACROECONOMIC INTERDEPENDENCE [*].
May 1, 2001... We develop a baseline model of monetary and fiscal transmission in interdependent economies. The welfare effects of expansionary policies are related to monopolistic supply in production and monopoly power of a country in trade. An unanticipated exchange rate depreciation can be...

SOCIAL MOBILITY AND THE DEMAND FOR REDISTRIBUTION: THE POUM HYPOTHESIS [*].("prospect of upward mobility")
May 1, 2001... This paper examines the often stated idea that the poor do not support high levels of redistribution because of the hope that they, or their offspring, may make it up the income ladder. This "prospect of upward mobility" (POUM) hypothesis is shown to be fully compatible with rational...

A MODEL OF FINANCIAL CRISES IN EMERGING MARKETS [*].
May 1, 2001... We develop a model in which financial crises in emerging markets may occur when domestic banks are internationally illiquid. Runs on domestic deposits may interact with foreign creditor panics, depending on the maturity of the foreign debt and the possibility of international default....

DOMESTIC POLICIES, NATIONAL SOVEREIGNTY, AND INTERNATIONAL ECONOMIC INSTITUTIONS [*].
May 1, 2001... To what extent must nations cede control over their economic and social policies if global efficiency is to he achieved in an interdependent world? This question is at the center of the debate over the future role of the WTO (formerly GAIT) in the realm of labor and environmental standards....