ARTICLES GARY GORTON AND GUILLERMO ORDONEZ Collateral Crises MARKUS K. BRUNNERMEIER AND YULIY SANNIKOV A Macroeconomic Model with a Financial Sector
VIRGILIU
MIDRIGAN AND DANIEL YI XU Finance and Misallocation:
ROBERT KOOPMAN,
THIERRY
KOICHIRO
Evidence from Plant-Level Data
ZHI WANG, AND SHANG-JIN WEI Tracing Value-Added and Double Counting in Gross Exports
MAYER, MARC J. MELITZ, AND GIANMARCO I. P. OTTAVIANO Market Size, Competition, and the Product Míx of Exporters ITO Do Consumers Respond to Marginal Electricity Pricing
MYRTO KALOUPTSIDI Time to Build and Fluctuations
DECIO COVIELLO,
or Average Price? Evidence from Nonlinear
in Bulk Shipping
ANDREA ICHINO, AND NICOLA PERSICO Time Allocation and Task Juggling
SHORTER PAPERS: A. R. Kostel and M. Mogstad; S. Board and M. Pycia; J. Asker and H. Bar-Isaac; S. S. Rosenthal; M. Cervellati, F. Jung, U. Sunde, and T. Vischer
FEBRUARY
2014
THE
AMERICAN
ECONOMIC
REVIEW
Editor
February 2014
PINELOPI KOUJIANOU GOLDBERG
Coeditors
VOLUME
MARK AGUIAR . MARIANNE BERTRAND MARTIN EICHENBAUM HILARY HOYNES LUIGI PISTAFERRI DEBRAJRAY LARRY SAMUELSON N~RZEJSKRZYPACZ
104,
NUMBER
2
Articles
Managing Editor STEVEN M. STELLING
Assistant Managing Editor
Collateral Crises Gary Gorton and Guillermo Ordoiie;
343
A Macroeconomic Model with a Financial Sector Markus K. Brunnermeier and Yuliy Sannikov
379
Finance and Misallocation: Evidence from PlantLeveI Data Virgiliu Midrigan and Daniel Yi Xu
422
Tracing Value-Added and Double Counting in Gross Exports Robert Koopman, Zhi Wang, and Shang-Jin Wei
459
Market Size, Competition, and the Product Mix of Exporters Thierry Mayer, Marc 1. Melitz, and Gianmarco 1. P. Ottaviano
495
Do Consumers Respond to Marginal or Average Price? Evidence from Nonlinear Electricity Pricing Koichiro Ito
537
Time to Build and Fluctuations in Bulk Shipping Myrto Kalouptsidi
564
Time Allocation and Task Juggling . Decio Coviello, Andrea Ichino, and Nicola Persico
609
KELLY MARKEL
Board of Editors Y1ANUEL AMADOR POLANTRÀS ~CO BASSETTO SNON BOARD CRAlG BURNSIDE ARIEL BURSTEIN STEVEN CALLANDER SYLVAIN CHASSANG DIRK ENGELMANN TIMOTHY FEDDERSEN ~IICHAEL FISHMAN WILLIAM FUCHS GITA GOPINATH GAUTAM GOWRISANKARAN VERONICA GUERRIERI IGALHENDEL SEEMA JAYACHANDRAN SHACHAR KARIV ~VINKARTIK BRIAN KNIGHT ILAN KREMER ARVIND KRISHNAMURTHY 10 'ATHAN LEVIN GILATLEVY BARTLIPMAN HAMISHLOW SHELLY LUNDBERG ~1A.TTHEW MITCHELL DILIP MOOKHERJEE GIUSEPPE MOSCARINI ITD O'DONOGHUE PHILIP OREOPOULOS JONATHAN PARKER PARAG PATHAK _ A PAVCNIK FABRIZIO PERRI RICARDO REIS JESSE ROTHSTEIN R.vIV SETHI JÓN STEINSSON A_\1IR SUPI CHRISTOPHER TIMMINS SARAH TURNER ERIC VERHOOGEN USE VESTERLUND LEEATYARIV
Shorter Papers ,,~·OIREI"O
W'
",'"
§ ~
::>
o
Fiiancial Incentives Induce Disability '" usànce Recipients to Return to Work • Q'!JLI01<"t-·17.MAP2a~4 Andreas Ravndal Kostel and Magne Mogstad
624
Outside Options and the Failure of the Coase Conjecture Simon Board and Marek Pycia
656
Raising Retailers' Profits: On Vertical Practices and the Exclusion of Rivals John Asker and Heski Bar-Isaac
672
Are Private Markets and Filtering a Viable Source of Low-Income Housing? Estimates from a "Repeat lncome" Model Stuart S. Rosenthal
687
lncome and Democracy: Comment Matteo Cervellati, Florian Jung, Uwe Sunde, and Thomas Vischer
707
Information on how to subrnit a manuscript is available online: http://www.aeaweb.org/aer/subrnissions.php It is the policy of The American Economic Review to publish papers only if the data used in the analysis are clearly and precisely documented and are readily available to any researcher for purposes of replication. Details of the computations suĂficient to permit replication must be provided. The Editor should be notified at the time of submission if the data used in a paper are proprietary or if, for some other reason, the requirements above cannot be met.
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