Welfare economics examines the allocation of resources and its impact on individual and social well‐being. Rooted in classical notions of Pareto efficiency, the field has evolved to encompass a broad ...

Editor’s note: The next president is in for a rough welcome to the Oval Office given the list of immediate crises and slow-burning policy challenges, both foreign and domestic. What should Washington ...

EVERY JANUARY a curious migration occurs. Thousands of economists from around the world flock to a big American city for the annual meetings of the American Economic Association (AEA). The pandemic ...

Earlier this month, the Trump administration announced a new rule expanding what it means for a noncitizen to be a “public charge” by collecting welfare benefits. Several states and advocacy groups ...

Current issues are now on the Chicago Journals website. Read the latest issue.One of the oldest and most prestigious journals in economics, the Journal of Political Economy (JPE) presents significant ...

Welfare effects of entry regulations are theoretically ambiguous in differentiated product markets. We use a dynamic oligopoly model of entry and exit with store-type differentiation and static price ...

IMAGINE A hard-up family. The mother has given birth to her second child. The government paid for her prenatal care, the birth and her newborn’s medical expenses. She will get four-fifths of her wages ...