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JOURNAL OF

A leading journal in economic theory and practice

Lead Editor: Harald Uhlig Editors: Michael Greenstone, James J. Heckman, Ali Hortaçsu, Erik Hurst, and Jesse Shapiro.

One of the oldest and most prestigious journals in , the Journal of Political Econo- my (JPE) has, since 1892, presented significant research and scholarship in economic theory and practice. The journal publishes highly selective, widely cited articles of current relevance. JPE’s analytical, interpretive, and empirical studies in a number of areas—including monetary theory, fiscal policy, labor economics, development, microeconomic and macroeconomic theory, international trade and finance, , and social economics— are essential reading for all .

AUDIENCE Economists, political theorists, financial analysts, and government and research agencies

ABOUT THE EDITORS Harald Uhlig is a Professor in the Department of Economics and the College at the . Michael Greenstone is 3M Professor of Environmental Economics in the Department of Economics at the Massachusetts Institute of Technology. James J. Heckman is the Henry Schultz Distinguished Service Professor of Economics at the University of Chicago, and a Nobel Memorial Prize winner in economics. Ali Hortaçsu is the Ralph and Mary Otis Isham Professor of Economics at the University of Chicago. Erik Hurst is the V. Duane Rath Professor of Economics and the John E. Jeuck Faculty Fellow at the University of Chicago Booth School of Business. Jesse Shapiro is the George S. and Nancy B. Parker Professor of Economics at .

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