American Economic Review

American Economic Review

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The American Economic Review is a peer-reviewed
Peer review
Peer review is a process of self-regulation by a profession or a process of evaluation involving qualified individuals within the relevant field. Peer review methods are employed to maintain standards, improve performance and provide credibility...

 academic journal
Academic journal
An academic journal is a peer-reviewed periodical in which scholarship relating to a particular academic discipline is published. Academic journals serve as forums for the introduction and presentation for scrutiny of new research, and the critique of existing research...

 of economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...

 publishing seven issues annually by the American Economic Association
American Economic Association
The American Economic Association, or AEA, is a learned society in the field of economics, headquartered in Nashville, Tennessee. It publishes one of the most prestigious academic journals in economics: the American Economic Review...

. First published in 1911, it is considered one of the most prestigious journals in the field. The current editor-in-chief is Penny Goldberg (Yale University
Yale University
Yale University is a private, Ivy League university located in New Haven, Connecticut, United States. Founded in 1701 in the Colony of Connecticut, the university is the third-oldest institution of higher education in the United States...

). The previous editor was Robert Moffitt. The journal is based in Pittsburgh.

The May issue of the American Economic Review each year is known as "Papers and Proceedings". Selected papers and discussions of papers presented at the Annual Meetings of the American Economic Association are published along with reports of officers, committees, and representatives.

In 2004, the American Economic Review began requiring "data and code sufficient to permit replication" of a paper's results, which is then posted on the journal's website. Exceptions are made for proprietary data.

Notable papers

A committee consisting of Kenneth Arrow
Kenneth Arrow
Kenneth Joseph Arrow is an American economist and joint winner of the Nobel Memorial Prize in Economics with John Hicks in 1972. To date, he is the youngest person to have received this award, at 51....

, B. Douglas Bernheim, Martin Feldstein
Martin Feldstein
Martin Stuart "Marty" Feldstein is an economist. He is currently the George F. Baker Professor of Economics at Harvard University, and the president emeritus of the National Bureau of Economic Research . He served as President and Chief Executive Officer of the NBER from 1978 through 2008...

, Daniel McFadden
Daniel McFadden
Daniel Little McFadden is an econometrician who shared the 2000 Nobel Memorial Prize in Economic Sciences with James Heckman ; McFadden's share of the prize was "for his development of theory and methods for analyzing discrete choice". He was the E. Morris Cox Professor of Economics at the...

, James M. Poterba
James M. Poterba
James Michael "Jim" Poterba is an American economist, Mitsui Professor of Economics at the Massachusetts Institute of Technology, and current NBER president and chief executive officer.- Early years :...

, and Robert Solow
Robert Solow
Robert Merton Solow is an American economist particularly known for his work on the theory of economic growth that culminated in the exogenous growth model named after him...

, selected the following twenty articles to be the most important ones to appear in the journal:
  • "A Theory of Production" (1928), by Paul Douglas
    Paul Douglas
    Paul Howard Douglas was an liberal American politician and University of Chicago economist. A war hero, he was elected as a Democratic U.S. Senator from Illinois from in the 1948 landslide, serving until his defeat in 1966...

     and Charles Cobb.
  • "The Use of Knowledge in Society" (1945), by F. A. Hayek
    Friedrich Hayek
    Friedrich August Hayek CH , born in Austria-Hungary as Friedrich August von Hayek, was an economist and philosopher best known for his defense of classical liberalism and free-market capitalism against socialist and collectivist thought...

  • "Economic Growth and Income Inequality
    Kuznets curve
    A Kuznets curve is the graphical representation of Simon Kuznets' hypothesis that economic inequality increases over time while a country is developing, and then after a certain average income is attained, inequality begins to decrease....

    " (1955), by Simon Kuznets
    Simon Kuznets
    Simon Smith Kuznets was a Russian American economist at the Wharton School of the University of Pennsylvania who won the 1971 Nobel Memorial Prize in Economic Sciences "for his empirically founded interpretation of economic growth which has led to new and deepened insight into the economic and...

  • "The Cost of Capital, Corporation Finance and the Theory of Investment" (1958), by Franco Modigliani
    Franco Modigliani
    Franco Modigliani was an Italian economist at the MIT Sloan School of Management and MIT Department of Economics, and winner of the Nobel Memorial Prize in Economics in 1985.-Life and career:...

     and Merton Miller
    Merton Miller
    Merton Howard Miller was the co-author of the Modigliani-Miller theorem which proposed the irrelevance of debt-equity structure. He shared the Nobel Memorial Prize in Economic Sciences in 1990, along with Harry Markowitz and William Sharpe...

  • "A Theory of Optimum Currency Areas
    Optimum currency area
    In economics, an optimum currency area , also known as an optimal currency region , is a geographical region in which it would maximize economic efficiency to have the entire region share a single currency. It describes the optimal characteristics for the merger of currencies or the creation of a...

    " (1961), by Robert Mundell
    Robert Mundell
    Robert Mundell, CC is a Nobel Prize-winning Canadian economist. Currently, Mundell is a professor of economics at Columbia University and the Chinese University of Hong Kong....

  • "Uncertainty and the Welfare Economics of Medical Care" (1963), by Kenneth Arrow
    Kenneth Arrow
    Kenneth Joseph Arrow is an American economist and joint winner of the Nobel Memorial Prize in Economics with John Hicks in 1972. To date, he is the youngest person to have received this award, at 51....

  • "Capital Theory and Investment Behavior" (1963), by Dale W. Jorgenson
    Dale W. Jorgenson
    Dale Weldeau Jorgenson is the Samuel W. Morris University Professor at Harvard University, teaching in the Department of Economics and John F. Kennedy School of Government...

  • "National Debt in a Neoclassical Growth Model" (1965), by Peter A. Diamond.
  • "The Role of Monetary Policy" (1968), by Milton Friedman
    Milton Friedman
    Milton Friedman was an American economist, statistician, academic, and author who taught at the University of Chicago for more than three decades...

  • "Migration, Unemployment and Development: A Two-Sector Analysis" (1970), by John R. Harris and Michael Todaro
    Michael Todaro
    Michael P. Todaro is an American economist and a pioneer in the field of development economics.Michael P. Todaro was Professor of Economics at New York University for eighteen years and Senior Associate at the Population Council for thirty years. He lived and taught in Africa for six years. He...

  • "Optimal Taxation and Public Production I: Production Efficiency" and "Optimal Taxation and Public Production II: Tax Rules" (1971), by Peter A. Diamond and James Mirrlees
    James Mirrlees
    Sir James Alexander Mirrlees is a Scottish economist and winner of the 1996 Nobel Memorial Prize in Economic Sciences. He was knighted in 1998....

  • "Production, Information Costs, and Economic Organization" (1972), by Armen Alchian
    Armen Alchian
    Armen Albert Alchian is an American economist and an emeritus professor of economics at the University of California, Los Angeles....

     and Harold Demsetz
    Harold Demsetz
    Harold Demsetz is a professor emeritus of economics at the University of California at Los Angeles .-Career:Demsetz includes a short intellectual autobiography....

  • "Some International Evidence on Output-Inflation Tradeoffs" (1973), by Robert Lucas, Jr.
    Robert Lucas, Jr.
    Robert Emerson Lucas, Jr. is an American economist at the University of Chicago. He received the Nobel Prize in Economics in 1995 and is consistently indexed among the top 10 economists in the Research Papers in Economics rankings. He is married to economist Nancy Stokey.He received his B.A. in...

  • "The Economic Theory of Agency: The Principal’s Problem" (1973), by Stephen A. Ross
    Stephen Ross (economist)
    Stephen Alan "Steve" Ross is the inaugural Franco Modigliani Professor of Financial Economics at the MIT Sloan School of Management. He is known for initiating several important theories and models in financial economics...

  • "The Political Economy of the Rent-Seeking Society" (1974), by Anne Osborn Krueger
    Anne Osborn Krueger
    Anne Osborn Krueger is an American economist and was the former World Bank Chief Economist from 1982 to 1986 and the First Deputy Managing Director of the International Monetary Fund from 2001 to 2006.-Education:...

  • "Monopolistic Competition and Optimum Product Diversity" (1977), by Avinash Dixit
    Avinash Dixit
    Avinash Kamalakar Dixit is an Indian-American economist originally of Indian nationality.-Education:Dixit received a B.Sc. from Bombay University in 1963 in Mathematics and Physics, a B.A...

     and Joseph Stiglitz.
  • "An Almost Ideal Demand System" (1980), by Angus S. Deaton and John Muellbauer.
  • "On the Impossibility of Informationally Efficient Markets" (1980), by Sanford J. Grossman
    Sanford J. Grossman
    Sanford "Sandy" Jay Grossman is an American economist and hedge fund manager specializing in quantitative finance. Dr. Grossman’s research has spanned the analysis of information in securities markets, corporate structure, property rights, and optimal dynamic risk management...

     and Joseph E. Stiglitz.
  • "Scale Economies, Product Differentiation, and the Pattern of Trade
    New Trade Theory
    New Trade Theory is a collection of economic models in international trade which focuses on the role of increasing returns to scale and network effects, which were developed in the late 1970s and early 1980s....

    " (1980), by Paul Krugman
    Paul Krugman
    Paul Robin Krugman is an American economist, professor of Economics and International Affairs at the Woodrow Wilson School of Public and International Affairs at Princeton University, Centenary Professor at the London School of Economics, and an op-ed columnist for The New York Times...

  • "Do Stock Prices Move Too Much to Be Justified by Subsequent Changes in Dividends?" (1981), by Robert J. Shiller.

Eleven of those authors have received the Nobel Prize in Economic Sciences
Nobel Memorial Prize in Economic Sciences
The Nobel Memorial Prize in Economic Sciences, commonly referred to as the Nobel Prize in Economics, but officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel , is an award for outstanding contributions to the field of economics, generally regarded as one of the...


The journal can be accessed online via JSTOR
JSTOR is an online system for archiving academic journals, founded in 1995. It provides its member institutions full-text searches of digitized back issues of several hundred well-known journals, dating back to 1665 in the case of the Philosophical Transactions of the Royal Society...

. In both 2006 and 2007, it was the most widely viewed journal of all the 775 journals in JSTOR.

External links