Simon Loertscher, Leslie M. Marx, and Tom Wilkening A Long Way Coming: Designing Centralized Markets with Plivately Informed Buyers and Sellers

Alberto Alesina and Paola Giuliano Culture and Institutions

Shelly Lundberg Tiger Parenting and American Inequality: An Essay on Chua and Rubenfeld's Th.e Triple Package. HOtc Three Unlikely Traits Explain the Rise and Fall of Cultural Croups in America

George J. Bmjas Immigration and Globalization: A Review Essay

Can) Carton Stress for Success: A Review of Timothy Ceithner's Financial Crisis Memoir

Peter remin The Cambridge HistOlY of "Capitalism"

Also BOOK HEVIEWS, including reviews of

John Bronstccn, Chl1stopher Buccafusco, and Jonathan S. Masur's Happilless (file! the Lau; by Matthew D. Adler

Dieter Helm's Natl/ral Capital: Vall/illg QlIr Planet by Ben Groom

LIBRARY AND INFORMATION ~

DIIUllAIOJ PUNDIT uNlVBUrn

Journal of Economic Literature

Steven N. Durlauf, Editor

Lawrence E. Blume, Associate Editor Dawn Wallhausen, Managing Editor

Russell Buchman, Assistant Managing Editor

BOARD OF EDITORS

Victor Aguirregabiria Price Y. Fishback Thomas J. Nechyba Anna Aizer Veronica Guerrieri Ricardo Reis James Andreoni Ann E. Harrison Jean-Laurent Rosenthal Martha J. Bailey John Hatfield Aldo Rustichini Nicholas Bloom Kenneth Hendricks David S. Scharfstein Tilman Borgers Navin Kartik Ananth Seshadri Ariel Burstein Rachel E. Kranton Petra E. Todd Arnaud Costinot Ilyana Kuziemko Edward Vytlacil Dave Donaldson David Lam Leeat Yariv Raquel Fernandez Stephen Morris

• - 4;: ;a; eu:~~.. ._ VOLUME LUI DECEMBER 2015 NUMBER 4 ~

I a-3 CVl ~ b'ij {I 'U LE.~~..z~16 __ · ARTICLES \ ... _ HE1l2GlIi 1

rnllQ\nU'an1'i _-_..A Long Way Corning: Designing Centra ize I d Mar ets wit hk P 'ivl!ltet)' •

Informed Buyers and Sellers Simon Loertscher, Lesli. ~, and Tom Wilk.eJ:U:ug 851 ... '

Culture and Institutions Alberto Alesina and Paola Giuliano 898

Tiger Parenting and American Inequality: An Essay on Chua and Rubenfeld's The Triple Package: How Three Unlikely Traits Explain the Rise and Fall of Cultural Groups in America

Shelly Lundberg 945

Immigration and Globalization: A Review Essay George j. Borjas 961

Stress for Success: A Review of Timothy Geithner's Financial Crisis Memoir Gary Gorton 975

853

The Cambridge History of "Capitalism"

BOOK REVIEWS

AIZCORBE, ANA M. A Practical Guide to Price Index and Hedonic Techniques.

BOUK, DAN. How Our Days Became Numbered: Risk and the Rise of the Statistical Individual. .

BRONSTEEN, JOHN; CHRISTOPHER BUCCAFUSCO, AND JONATHAN S. MASUR. Happiness and the Law..

CAFARO, PHILIP. How Many Is Too Many? The Progressive Argument for Reducing Immigration into the United States ..

CHISWICK, CARMEL U. Judaism in Transition: How Economic Choices Shape Religious Tradition ...

CHOO, EUGENE AND MATTHEW SHUM, EDS. Structural Econometric Models.

COHEN, ALAN B.; DAVID C. COLBY, KEITH A. WAILOO, AND JULIAN E. ZELIZER, EDS. Medicare and Medicaid at 50: America's Entitlement Programs in the Age of Affordable Care

DIEBOLD, FRANCIS X. AND KAMIL YILMAZ. Financial and Macroeconomic Connectedness: A Network Approach to Measurement and Monitoring ..

DINAR, ARIEL; VicTOR POCHAT, AND JOSE ALBIAC-MuRILLO, EDS. Water Pricing Experiences and Innovations

DRINOT, PAULO AND ALAN KNIGHT, EDS. The Great Depression in Latin America ..

EARLY, BRYAN R. Busted Sanctions: Explaining Why Economic Sanctions Fail. . . ... Anton D. Lowenberg

GLAESER, EDWARD L. AND JOHN M. QUIGLEY, EDS. Housing Markets and the Economy: Risk, Regulation, and Policy: Essays in Honor of Karl E. Case. . . .Joshua D. Gottlieb 1046

GROSSBARD, SHOSHANA. The Marriage Motive: A Price Theory of Marriage: How Marriage Markets Affect Employment, Consumption, and Savings. . . · ... Patricia Apps 1031

HANUSHEK, ERIC A. AND LUDGER WOESSMANN. The Knowledge Capital of Nations: Education and the Economics of Growth · ... Mikael Lindahl 1027

854

Peter Temin 996

· .Daniel E. Sichel 1017

Thomas Stapleford 1024

. Matthew D Adler 1033

· . Greg C. Wright 1029

· . .. Zvi Eckstein 1047

· Benjamin vVilliams 1019

· .... Nicole Maestas 1026

Enghin At-alay 1021

Peter Debaere 1040

David S. C. Chu 1039

1023

HELM, DIETER. Natur

TIMBERLAKE, RICHAH of the Supreme Cou

ANNOTATED LIS~

JEL CLASSIFICAl

DOCTORAL DISSI

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• Composed by the Am printed by Allen Press,

HELM, DIETER. atural Capital: Valuing Our Planet

TIMBERLAKE, RICHARD H. Constitutional Money: A Review of the Supreme Court's Monetary Decisions

.Ben Groom

Christine Desan

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1036

ANNOTATED LISTING OF NEW BOOKS 1051

JEL CLASSIFICATION SYSTEM 1170

DOCTORAL DISSERTATIONS IN ECONOMICS 1186

The follOWing Statement of O'vvnership, Managcment and Circulation is provided in accordance with the requirements, as contained in 39 U.S.C. 3658. The Journal ofEconomic Literature is o'vvned, managed and published by the American Economic Association, a nonprofit scientific organization, located at 2014 Broadway, Suite ,30.5, Nashville, Davidson County, TN 37203-242,5. The Editor is Professor Steven Durlauf, Journal of Economic Literature, 2403 Sidney Street, Suite 260, Pittsburgh, PA 15203. During the preceding twelve months tbe average number of copies printed for each issue was .5,700; the average paid circulation, .5,227; the averag free distribution, 111; the average number of copies distributed .5,338. Corresponding figures for June 23, 2015, the issue published nearest to filing date: total number of copies printed, 5,600; total paid ci rculation, 5,061; total free distribution, 117; total distribution, 6,178.

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