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Spring 1997 A journal of the American Economic Association Editor Alan B. Krueger, Princeton University Co-editor J. Bradford De Long, University of California at Berkeley Associate Editors Henry J. Aaron, The Brookings Institution Francine D. Blau, Cornell University Anne C. Case, Princeton University David C. Colander, Middlebury College Robert Gibbons, Cornell University Oliver Hart, Harvard University N. Gregory Mankiw, Harvard University Frederic S. Mishkin, Columbia University Peter Murrell, University of Maryland at College Park Joseph Newhouse, Harvard University Dani Rodrik, Harvard University Bernard Saffran, Swarthmore College Richard L. Schmalensee, Massachusetts Institute of Technology Suzanne A. Scotchmer, University of California at Berkeley Gavin Wright, Stanford University Managing editor Timothy Taylor Editorial associate Carmen Largaespada Editorial offices: Hubert H. Humphrey Institute of Public Affairs, University of Minnesota, 301 19th Avenue South Minneapolis, Minnesota 55455 e-mail: jep@hhh.umn.edu gratefully acknowledges the support of the Hubert H. Humphrey Institute of Public Affairs at the University of Minnesota. Copyright © 1997 by the American Economic Association; All Rights Reserved. Composed by TAPSCO, Inc., Akron, Pennsylvania 17501, U.S.A. Printed by Banta Company, Menasha, Wisconsin 54952, U.S.A. No responsibility for the views expressed by the authors in this journal is assumed by the editors or by
Journal of Economic Perspectives – American Economic Association
Published: May 1, 1997
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