Knowledge that Transforms

Previous articleNext article FreeLucas Prize in Dynamic EconomicsPDFPDF PLUSFull Text Add to favoritesDownload CitationTrack CitationsPermissionsReprints Share onFacebookTwitterLinked InRedditEmailQR Code SectionsMoreThe Robert E. Lucas Jr. Prize is awarded biannually for the most interesting paper in the area of Dynamic Economics published in the Journal of Political Economy in the preceding two years. The prize was established in 2016 on the occasion of the celebration of Lucas’s seminal contributions to economics and his Phoenix Prize award.Papers published between August 2014 and June 2016 were considered for the first prize, which has been awarded to Boyan Jovanovic and Peter L. Rousseau for “Extensive and Intensive Investment over the Business Cycle” (Journal of Political Economy 122 [4]: 863–908).This paper empirically shows that extensive investment (i.e., the creation of new firms) rises with aggregate Tobin’s Q, while intensive investment (i.e., the investment of established firms) falls, and it provides a helpful model for understanding this novel fact. A more rapid technological change makes it harder to adapt existing capital. This raises Q and thereby provides new entrants with a comparative advantage. The authors match their model to investment series, including those by venture capitalists, and analyze the consequences for growth, welfare, and stock markets. The paper therefore makes a substantial contribution to understanding the dynamic economics of technological change and investment choices.Fig. 1. Prizewinners Boyan Jovanovic and Peter Rousseau after receiving the Robert E. Lucas Jr. Prize for their paper, “Extensive and Intensive Investment over the Business Cycle.” The prize was awarded at the Journal of Political Economy’s 125th anniversary reception during the 2017 ASSA Annual Meeting in Chicago. From left: Jovanovic, Lucas, and Rousseau.View Large ImageDownload PowerPoint Previous articleNext article DetailsFiguresReferencesCited by Journal of Political Economy Volume 125, Number 1February 2017 Article DOIhttps://doi.org/10.1086/691154 © 2017 by The University of Chicago. All rights reserved.PDF download Crossref reports no articles citing this article.

Next article FreeJournal of Political EconomyPDFPDF PLUSFull Text Add to favoritesDownload CitationTrack CitationsPermissionsReprints Share onFacebookTwitterLinked InRedditEmailQR Code SectionsMoreJournal of Political Economy acknowledges the assistance of:Daron AcemogluDaniel AckerbergSumit AgarwalAnna AizerUfuk AkcigitTreb AllenDouglas AlmondItai AshlagiEnghin AtalayDavid AtkinYu AwayaEduardo AzevedoPierre AzoulayManuel BaguesMiguel BallesterChristiane BaumeisterChristian BelzilDaniel BenjaminMark BilsLarry BlumeJaroslav BorovickaJohn BoundLeah BoustanChad BownBart BronnenbergBen BrooksEric BudishKonrad BurchardiDavid BurkMarshall BurkeColin CamererAndrew CaplinPedro CarneiroKatherine CaseyDeborah Cobb-ClarkTimothy CogleyOlivier CoibionShawn ColeGeorge ConstantinidesAdam CopelandThomas CovertSteven DavisJan De LoeckerMarco Del NegroMelissa DellMarco di MaggioRafael Di TellaJonathan DingelWill DobbieMark EganJason FabermanIvan Fernandez-ValChristian Fons-RosenAndrew FosterChao FuTitus GalamaDouglas GaleGerd GigerenzerUri GneezyLimor GolanYuriy GorodnichenkoDavid GreenDonald GreenMatthew GrennanJeff GroggerLuigi GuisoRong HaiYoram HalevyJames HamiltonJoseph HarringtonGlenn HarrisonMarc HenryKyle HerkenhoffJonas HjortElisabeth HonkaJohn Eric HumphriesYannis IoannidesNir JaimovichPrzemyslaw JeziorskiDavid JohnsonCharles JonesJoonhwi JooAlejandro JustinianoArturs KalninsLouis KaplowLoukas KarabarbounisTim KautzBen KeysPatrick KlineFuhito KojimaHideo KonishiWojciech KopczukMatthew KotchenNicolai KuminoffChristoph KuzmicsThibaut LamadonHoracio LarreguyLungFei LeePatrick LegrosThomas LemieuxRasmus LentzJacob LeshnoDanielle LiC.-Y. Cynthia Lin LawellMikael LindahlJohn ListLance LochnerAprajit MahajanGregor MatvosTimothy McQuadeNeil MehrotraStephan MeierGuido MenzioPascal MichaillatStelios MichalopoulosPedro MiraAnirban MitraAhmed MobarakEmanuel MoenchFrancesca MolinariAndreas MoxnesKathleen MullenTakeshi MurookaRoger MyersonPaulo NatenzonDerek NealChris NoskoMatthew NotowidigdoPhilip OreopoulosMatthew OsborneAmanda PallaisElias PapaioannouRonni PavanKaren PenceJohn PepperWolfgang PesendorferJorn-Steffen PischkeTomasz PiskorskiRobert PollakMaria PolyakovaDavid PorterMichael PowellVictoria ProwseBenjamin PugsleyNancy QianAnita RaoSergio RebeloRichard RobbArthur RobsonAdam RosenMark RosenzweigHeather RoyerAldo RustichiniBernard SalanieJames SalleeBen SandEmily SandsYuliy SannikovPaola SapienzaRichard SchmalenseeLawrence SchmidtMartin SchneiderAndrew ScottAmit SeruAnanth SeshadriRobert ShimerKelly ShuePaolo SiconolfiHolger SiegRui SilvaMichael SinkinsonGary SolonPaulo SomainiPeter SorensenStefanie StantchevaMelvin StephensJoerg StoyePer StrombergAmir SufiTakuo SugayaTavneet SuriJakob SvenssonBalazs SzentesChristopher TaberScott TaylorPetra ThiemannRebecca L. ThorntonSergio UrzuaRobert VallettaEllen VerbakelFrank VerbovenRobert VishnyXavier VivesPeter WakkerChristopher WaltersDavid WeilNoam YuchtmanJunsen ZhangOwen ZidarEric Zitzewitz Next article DetailsFiguresReferencesCited by Journal of Political Economy Volume 125, Number 1February 2017 Article DOIhttps://doi.org/10.1086/691151 © 2017 by The University of Chicago. All rights reserved.PDF download Crossref reports no articles citing this article.

Previous articleNext article FreeJournal of Political EconomyPDFPDF PLUSFull Text Add to favoritesDownload CitationTrack CitationsPermissionsReprints Share onFacebookTwitterLinked InRedditEmailQR Code SectionsMoreJournal of Political Economy acknowledges the assistance of:Jason AbaluckAnat AdmatiMohammad AkbarpourHunt AllcottDouglas AlmondManuel AmadorSiwan AndersonCristina ArellanoCostas ArkolakisEnghin AtalayYu AwayaMiguel BallesterOriana BandieraAlan BarenbergSamuel BazziAlberto BisinGustavo BobonisBen BrooksJennifer BrownLeonardo BursztynLuis CabralCharles CalomirisGabriel CarrollDavid ChanAndrew ChingGabe Chodorow-ReichJohn ClitheroOlivier CoibionFabrice CollardAnna CostelloArnaud CostinotVictor CoutureLucas DavisJan De LoeckerMark DeanMelissa DellDave DonaldsonRoss DoppeltDavid DornChristian DustmannPawel DziewulskiLena EdlundJan EeckhoutMehmet EkmekciJoan EstebanBenjamin FaberRaquel FernandezFernando FerreiraDavid FiglioFrederico FinanAmy FinkelsteinRaymond FismanMarco FrancesconiPatrick FrancoisBrigham FrandsenPeter FredrikssonJoshua GansAlessandro GavazzaAhu GemiciCorrado GiuliettiEdward GlaeserLimor GolanBart GolsteynYuriy GorodnichenkoJoshua GottliebJesse GregoryVeronica GuerrieriLuigi GuisoJonathan GuryanMarina HalacJoseph HarringtonGlenn HarrisonGuojun HeAaron HedlundEskil HeinesenRichard HornbeckThomas HubbardIl-Myoung HwangKelsey JackC. Kirabo JacksonBas JacobsSimon JaegerJoonhwi JooLisa KahnNavin KartikJakub KastlTim KautzTobias KleinPeter KlenowHenrik KlevenGeorgi KocharkovRalph KoijenScott KominersHideo KonishiFabian KosseRachel KrantonKory KroftPeter KuhnNicola LaceteraDarius LakdawallaThibaut LamadonKevin LangFabian LangeJennifer La’OBrad LarsenStephan LauermannVictor LavyBenjamin LesterSoren Leth-PetersenMatthew LewisClaire LimNuno LimaoXiliang LinLance LochnerJens LudwigW. Bentley MacLeodThierry MagnacNeale MahoneyOfer MalamudIvan MarinovicGregory MartinEoin McGuirkPascal MichaillatRobert MillerKurt MitmanHolger MuellerCaitlin MyersPaulo NatenzonJ. NearyDavid NeumarkJuan NicoliniVolker NockeEd NosalMatthew NotowidigdoBenjamin OlkenEmily OsterHyunmin ParkJonathan ParkerJohn PattyAmil PetrinAndrea PratDrazen PrelecVictoria ProwseSteven PullerValerie RameyJoshua RauhDevesh RavalMichelle RendallWilliam RoberdsMaria Rosales-RuedaMarzena RostekChristoph RotheJesse RothsteinYona RubinsteinAldo RustichiniPeter SavelyevAnalia SchlosserMartin SchmalzAnanth SeshadriAzeem ShaikhKelly ShueRon SiegelEric SimsTodd SinaiAloysius SiowScott SternPhilipp StrackBruno StruloviciTomasz StrzaleckiMartin StuermerJavier SuarezAdi SunderamAshley SwansonChristopher TaberDuncan ThomasChristopher TimminsPetra ToddFrancesco TrebbiRaluca UrsuStijn Van NieuwerburghGreg VeramendiMiguel Villas-BoasGabor ViragFabian WaldingerChristopher WaltersFrederic WarzynskiYasutora WatanabeRebecca Weitz-ShapiroBirger WernerfeltMichael WhinstonMatthew WiswallAlexander WolitzkyChristopher WoodruffDaniel Yi XuFlorian ZettelmeyerCharles ZhengEkaterina ZhuravskayaSeth ZimmermanEric Zwick Previous articleNext article DetailsFiguresReferencesCited by Journal of Political Economy Volume 125, Number 5October 2017 Article DOIhttps://doi.org/10.1086/695313 Views: 1125Total views on this site © 2017 by The University of Chicago. All rights reserved.PDF download Crossref reports no articles citing this article.

Previous articleNext article FreeJournal of Political EconomyPDFPDF PLUSFull Text Add to favoritesDownload CitationTrack CitationsPermissionsReprints Share onFacebookTwitterLinked InRedditEmailQR Code SectionsMoreJournal of Political Economy acknowledges the assistance of:Eliot AbramsDaron AcemogluHunt AllcottTreb AllenRicardo AlonsoGene AmrominGeorge-Marios AngeletosGabriela AntonieKentaro AsaiEnghin AtalayDavid AtkinOrazio AttanasioNed AugenblickPierre AzoulayMatthew BackusMartha BaileyJorge BalatOriana BandieraNicholas BarberisSimcha BarkaiJere BehrmanPeter BellwoodDaniel BenjaminMartin BerajaClaude BerrebiSaurabh BhargavaSaki BigioKen BinmoreChristopher BlattmanMichael BognannoPietro BonaldiAlessandro BonattiStephane BonhommeLex BorghansEthan Bueno de MesquitaMeghan BusseAndrew CaplinPedro CarneiroAmbarish ChandraBriana ChangSylvain ChassangJose CuestaErnesto Dal BoAna De La ODakshina De SilvaFrancesco DecarolisOlivier DeschenesPaul DevereuxCarlos DobkinUlrich DoraszelskiJoseph DoyleOeindrila DubePascaline DupasRuben DuranteChristian DustmannWioletta DziudaBenjamin EdelmanThomas EisenseeArmin FalkHanming FangMaryam FarboodiErnst FehrShuaizhang FengDouglas GaleWilliam GaleManolis GalenianosAlfred GalichonCamilo Garcia-JimenoNicolae GarleanuChristos GenakosSommer GentryMatthew GentzkowUri GneezyDevon GorryGary GortonPiero GottardiLawrence GoulderShane GreensteinMatthew GrennanPaul GriecoJoseph GyourkoGeorge HallWilliam HanlonDavid HemousRichard HornbeckSolomon HsiangJohn Eric HumphriesVictoria IvashinaCharles JonesGreg KaplanAdam KaporMarios KarabarbounisTim KautzBen KeysTerri KneelandDirk KruegerNicolai KuminoffEliana La FerraraSaul LachDavid LagakosKevin LangBrad LarsenJohn LazarevJosh LernerRandall LewisElliot LipnowskiMichael LucaStephen MachinAlexander MackayPaola ManziniFilip MatejkaDavid McKenzieKonrad MenzelMoritz Meyer-ter-VehnGuy MichaelsRobert MoffittEduardo MoralesStephen MorrisMelanie MortenKathleen MullenDavid NeumarkPaul NiehausCarlos NotonMatthew NotowidigdoNathan NunnLee OhanianClaudia OlivettiAmanda PallaisParag PathakDavid PearceCarolin PfluegerThomas PhilipponMaria PolyakovaDevin PopeAndrea PratNancy QianSimon QuinnTarun RamadoraiSergio RebeloStephen ReddingAlbrecht RitschlJames RobertsArthur RobsonJean-Charles RochetNikolai RoussanovRobert RowthornHeather RoyerAldo RustichiniNicholas RyanTobias SalzItay Saporta-EkstenMichael SattingerSusanne SchennachSam Schulhofer-WohlJames SchummerShouyong ShiArtyom ShneyerovMarciano SiniscalchiMichael SinkinsonJagadeesh SivadasanVasiliki SkretaAndrzej SkrzypaczCharles SprengerPhilip StrahanJohannes StroebelJan StuhlerBruno SultanumMatthias SutterAndrew SweetingJustin SydnorChristopher TaberXun TangEmanuele TarantinoHarry ter ReleAlexander TeytelboymMallika ThomasNora TraumMaxim TroshkinNick TsivanidisBertil TungoddenChristopher UdryJohn Van ReenenRichard van WeeldenFrank VerbovenJessica WachterGlen WaddellJohanna WalleniusSimon WeberHeidi WilliamsMatthew WiswallWei XiongNathan YangWilliam ZameTao Zha Previous articleNext article DetailsFiguresReferencesCited by Journal of Political Economy Volume 125, Number 4August 2017 Article DOIhttps://doi.org/10.1086/693975 © 2017 by The University of Chicago. All rights reserved.PDF download Crossref reports no articles citing this article.

The purpose of this research is to examine how population-and episode-based alternative payment models affect equity in access to and outcomes for a range of surgical procedures.

Next article FreeJournal of Political EconomyPDFPDF PLUSFull Text Add to favoritesDownload CitationTrack CitationsPermissionsReprints Share onFacebookTwitterLinked InRedditEmailQR Code SectionsMoreJournal of Political Economy acknowledges the assistance of:Johannes AbelerRan AbramitzkyChristian AhlinMohammad AkbarpourFranklin AllenMary AmitiMichael AndersonJose ApesteguiaKentaro AsaiEnghin AtalayOrazio AttanasioEduardo AzevedoLinda BabcockAna BabusSandeep BaligaEmek BaskerMarco BassettoNathaniel Baum-SnowMark BilsPietro BiroliDaniel BjorkegrenHoyt BleakleyJaroslav BorovickaAbel BrodeurEric BudishMichael BurdaRobin BurgessLeonard BurmanLeonardo BursztynMichael CallenColin CamererJohn CampbellIvan CanayDavid CardJuan CarrilloGabriel CarrollAnne CaseTimothy CasonSylvain ChassangDean CorbaeThomas CovertThomas CrossleyFlavio CunhaManasi DeshpandeWouter DesseinChristian DippelMatthias DoepkeThomas DohmenMei DongLaura DovalJoseph DoyleLukasz DrozdGilles DurantonFederico EcheniqueJan EeckhoutPaul EllicksonJose-Antonio Espin-SanchezPablo FajgelbaumArmin FalkMaryam FarboodiRobert FeenstraErnst FehrAmy FinkelsteinUrs FischbacherRaymond FismanMarco FrancesconiXavier GabaixRoberto GalbiatiJordi GaliSebastian GalianiNicolae GarleanuMatthew GentryRobert GibbonsMichael GibbsYuriy GorodnichenkoGautam GowrisankaranAndrei HagiuMarina HalacYoram HalevyGlenn HarrisonTarek HassanTarjei HavnesOri HeffetzJ. HendersonNathaniel HendrenRichard HoldenMatthew JohnsonBoyan JovanovicJames KahnDean KarlanMaximilian KasyJun Hyung KimPatrick KlineRalph KoijenFabian KosseMatthew KotchenPer KrusellPablo KurlatRicardo LagosThomas LemieuxJacob LeshnoTong LiLance LochnerFernando LucoJeremy MagruderNeale MahoneyDavid MalisonVikram ManjunathRosa MatzkinBhashkar MazumderRobert McMillanAlbert MenkveldGuido MenzioIgnacia MercadalBruce MeyerAtif MianSanjog MisraGiuseppe MoscariniTakeshi MurookaCaitlin MyersSuresh NaiduDavid NeumarkNathan NunnBenjamin OlkenEmily OwensMichaela PagelAmanda PallaisFernando ParroJesse PerlaCharles PlottDevin PopeNancy QianSteven RaphaelMartin RavallionAlex Rees-JonesMatthew RichardsonJohn RobertsJames RobertsAndres Rodriguez-ClareLeena RudankoNicholas RyanStephen RyanTobias SalzCezar SantosMichael SattingerPeter SavelyevMoritz SchularickStephan SeilerAmit SeruAloysius SiowChristopher SnyderPaulo SomainiPer StrombergAdam SzeidlXun TangRaphael ThomadsenMallika ThomasAllan TimmermannPetra ToddAlexander TorgovitskyRobert TownUtku UnverRobert VallettaFrederic VermeulenAlessandra VoenaTill Von WachterQuang VuongRomain WacziargReed WalkerNeil WallaceMike WaughEric WeylPaul WillenBen WilliamsRegina Wittenberg-MoermanAlexander WolitzkyNese YildizNoam YuchtmanAli YurukogluJidong ZhouJonathan Zinman Next article DetailsFiguresReferencesCited by Journal of Political Economy Volume 125, Number 6December 2017 Article DOIhttps://doi.org/10.1086/696330 © 2017 by The University of Chicago. All rights reserved.PDF download Crossref reports no articles citing this article.