JOURNAL OF POLITICAL ECONOMY 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 economics, 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, industrial organization, and social economics— are essential reading for all economists. 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 University of Chicago. 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 Brown University. ELECTRONIC ELECTRONIC PRINT SINGLE INSTITUTIONAL SUBSCRIPTIONS ONLY + PRINT ONLY COPY Very Large Higher Education $851 $979 Large Higher Education $636 $731 Medium Higher Education $486 $559 Small Higher Education $466 $536 Very Small Higher Education $446 $513 Community College $425 $489 $535 $107 Museum $405 $466 Public Library $405 $466 Secondary School $405 $466 Government/Nonprofit $425 $489 Corporate $717 $825 Six issues/year 224 pages/issue INDIVIDUAL SUBSCRIPTIONS Founded: 1892 Individual $66 $76 $67 $16 ISSN: 0022-3808 Student $38 n/a n/a E-ISSN: 1537-534X Add postage to subscriptions with print component: all non-US subscribers, $22 Editorial Address Taxes apply. See page 80. Journal of Political Economy 1427 E. 60th Street, Rm. 353 Chicago, IL 60637 E-mail: [email protected] journals.uchicago.edu/JPE 43.