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Department of Economics


Professor Ehrlich
Short Vitae
Research

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  Selected Publications
  Crime & Justice
  Economic Growth
  Social Security
  Health Economics
  Human Capital

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  M.A. in Economics and Advanced Certificate in Applied Economics
  Ph.D. Program in Economics

 

Center for Human Capital

  

 

Journal of Human Capital


| Prof. Ehrlich | Short Vitae | Research | Department of Economics | MA Program |
Selected Publications

*Note: many of the following selected papers are freely downloadable from the following websites or the web pages dedicated to specific topics and areas of research linked to Isaac Ehrlich’s home page.
http://ideas.repec.org/e/peh1.html
http://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=188351
http://www.nber.org/cgi-bin/author_papers.pl?author=isaac_ehrlich

Articles in Academic Journals

 

• "Private Information, Human Capital, and Optimal "Home Bias" in Financial Markets," with J. Shin and Y.Yin, Journal of Human Capital, University of Chicago Press, vol. 5(3), 2010
• “The Role of Human Capital in Imperfectly Informed International Financial markets”, American Economic Review, vol. 100(2), May 2010.
• “Asset Management, Human Capital, and the Market for Risky Assets” (lead article), with William Hamlen Jr., and Yong Yin, Journal of Human Capital, vol. 2 (3), 2008.
• “Economics of Deterrence – Theory” in The New Palgrave Dictionary of Economics, 2nd edition, edited by Steven N. Durlauf and Lawrence E. Blume, Palgrave Macmillan (Basingstoke and New York), May 2008.
• “The Evolution of Income and Fertility Inequalities over the Course of Economic Development: A Human Capital Perspective”, with Jinyoung Kim, Journal of Human Capital, Vol 1 (1) 2007.
• “Why does Human Capital Need a Journal” (introduction to the inaugural issue), with Kevin Murphy, Journal of Human Capital, Vol 1(1), 2007.
• “Social Security and Demographic trends: Theory and Evidence from the International Experience”, with Jinyoung Kim, Review of Economic Dynamics, Vol. 10 (1) 2007.
• “Has Social Security influenced family formation and fertility in OECD countries? An economic and econometric analysis”, with Jinyoung Kim, Journal of Pharmaceuticals Policy and Law, Vol. 9, 2007.
• “Explaining Diversities in Age-Specific Life Expectancies and Values of Life Saving: A Numerical Analysis”, with Yong Yin, Journal of Risk and Uncertainty, Springer, vol. 31(2) 2005.
• “Endogenous Fertility, Longevity, and Economic Dynamics: Using a Malthusian Framework to Account for the Historical Evidence on Population and Economic Growth”, with Jinyoung Kim, Journal of Asian Economics, vol 15 (6) 2005.
• “Social Security: From Pay-As-You-Go Systems to an Individual-Based Capitalization System” (in English; title in Spanish: Prevision social: de los regimens de reparto a los de capitalizacion individual). Published as part of a three articles series (“Conferencias”), along with contributions by Gary Becker and Joseph Stiglitz. Revista de Ciencias Empresariales Y Economia, Vol. 2, 2003.
• “The Growth-Inequality Nexus without Borrowing Restrictions or Government Intervention: Some Implications from a Prototype Model”, with C.W. Yuen, Annals of Economics and Finance, Vol. 1, December 2000.
• “Uncertain Lifetime, Life Protection, and the Value of Life Saving”, Journal of Health Economics, Vol. 19, (3), May 2000.
• “Bureaucratic Corruption and Endogenous Economic Growth” with F.T. Lui, Journal of Political Economy, Vol. 107, no.6, pt 2, December 1999.
• “Sensitivity Analyses of the Deterrence Hypothesis: Let’s Keep the Econ in Econometrics"(with Z. Liu), Journal of Law and Economics, Vol. XLII, April 1999.
• “Social Security, the Family and Economic Growth,” with F. T. Lui, Economic Inquiry, Vol. 36 (3), July 1998.
• “Social Security and the Real Economy: An Inquiry into Some Neglected Issues”, with J. Zhong, American Economic Review, Vol. 88 (2), May 1998.
• "Crime, Punishment, and the Market for Offenses," Journal of Economic Perspectives, Vol. 10 (1), winter 1996.
• "Optimal Portfolio and Consumption Decisions in a Stochastic Environment with Precommitment", with William A. Hamlen Jr., lead article in the Journal of Economic Dynamics and Control, Vol. 19 (3), 1995.
• "Productivity Growth and Firm Ownership", with G. Gallais Hamonno, R. Lutter, and Z. Liu, Journal of Political Economy, Vol. 102 (5), October 1994.
• "Intergenerational Trade, Longevity, and Economic Growth," with F. T. Lui, Journal of Political Economy, Vol. 99 (5), October 1991.
• "Introduction" (The Problem of Development), Journal of Political Economy, Vol. 98
• (5), Part 2, October 1990.
• "The Demand for Longevity and the Value of Life Extension," with Hiroyuki Chuma, Journal of Political Economy, Vol. 98 (4), August 1990.
• "On the Issue of Causality in Crime Control: Some Theoretical Considerations and Experimental Evidence," (w/ G.Brower), American Economic Review, Vol. 77 (2), May 1987
• "The Derived Demand for Advertising: A Theoretical and Empirical Investigation," (with Lawrence Fisher) American Economic Review, Vol. 72 (3), June 1982.
• "The Optimum Enforcement of Laws and the Concept of Justice: A Positive Analysis," International Review of Law and Economics, lead article, Vol. 2, June 1982.
• "On the Usefulness of Controlling Individuals: An Economic Analysis of Rehabilitation, Incapacitation, and Deterrence," American Economic Review, Vol. 71 (3), June 1981.
• "Capital Punishment and Deterrence: Some Further Thoughts and Additional Evidence," Journal of Political Economy, Vol. 85 (4), August 1977.
• "Asset Management, Allocation of Time and Returns to Saving" (with U. Ben Zion), Economic Enquiry, Vol. 14 (4), December 1976.
• "The Deterrent Effect of Capital Punishment -- A Question of Life and Death," American Economic Review, Vol. 65 (3), June 1975.
• "Participation in Illegitimate Activities -- A Theoretical and Empirical Investigation," lead article, Journal of Political Economy, Vol. 81 (3), May/June 1973.
• "Market Insurance, Self-Insurance and Self-Protection" (with Gary S. Becker), lead article, Journal of Political Economy, Vol. 80 (4), July/August, 1972.

Book Chapters

• “Economics of Crime” in 21st Century Economics: A Reference Handbook, Sage Publications, Rhonda C. Free ed., Sage Publications, 2010.
• “The Market Model Of Crime – A Short Review And New Directions” (lead Chapter), in Handbook on the Economics of Crime, Bruce L. Benson and Paul R. Zimmerman, eds. Edward Elgar Publications, 2010.
• “Economics of Deterrence – Theory” in The New Palgrave Dictionary of Economics, 2nd edition, edited by Steven N. Durlauf and Lawrence E. Blume, Palgrave Macmillan (Basingstoke and New York), May 2008.
• “Becker, Gary S.” in the International Encyclopedia of the Social Sciences, 2nd edition, Editor in Chief , William A. Darity, Jr, McMillan, Detroit, USA., December 2007, pp.270-273.
• “Economics of Crime” in The Encyclopedia of law and Society, edited by David S. Clark, Sage Publications, CA: Thousand Oaks, June, 2007.

Books, Special Collections, Edited Journal Volumes


• The Mystery of Capital and the Construction of Social Reality, co-editor (with Barry Smith and David Mark), Open Court Publishing Company, Chicago, May, 2008.
• The Economics of Crime (editor, with Z. Liu). A three volume book of readings on the subject. Selected as part of the collection: "International Library of Critical Writings in Economics" (Mark Blaug, general editor), Edward Elgar Publishing Ltd., Cheltenham, UK and Northampton, MA, 2006.
• Journal of Human Capital, University of Chicago Press, Editor in Chief, volume 1, December 2007, volume 2 - 4 issues.
• Journal of Political Economy, Vol. 98 (5), Part 2, editor of special volume titled The Problem of Development: A Conference of the Institute for the Study of Free Enterprise Systems, October 1990.
• Problems in Economic Theory. Answer book on questions in economic theory. A complement to Economic Theory by Gary S. Becker, in mimeographed form, University of Chicago.
• National Health Policy: What Role for Government (editor), Proceedings of the Conference on National Health Policy held at Stanford Univ. in March of 1980, Stanford: Hoover Institution Press, 1982.

Publications in Working Paper Series and Work in Progress

• "Private Information, Human Capital, and Optimal "Home Bias" in Financial Markets,"with Jong Kook Shin and Yong Yin, IZA Discussion Papers 6060, Institute for the Study of Labor (IZA

• “Taxing Crime vs. Taxing Guns: An Application of the Market for Offenses Model”, with Saito, Tetsuya, Journal of Economic Modeling, Elsevier, vol. 32(5), pages 670-689, September 2010.
• “The Role of Human Capital in Imperfectly Informed International Financial markets”, Working Paper 092010 Hong Kong Institute of Monetary Research.
• “Human Capital, Endogenous Information Acquisition, and Home Bias in Financial markets”, with Jong Kook Shin, and Yong Yin, NBER Working Paper #15668, 2010. Reprinted as Working Paper 202010, Hong Kong Institute of Monetary Research
• “To What Extent Do Prices Aggregate Private Information: Evidence from S&P Futures Data 1982-2000, with Yong Yin and Ya-Ming Wang in progress, in progress, 2009.
• “Assessing the Dynamics of Health Spending from a GE Model of the Demand for health”, with Yong Yin and Shaowen Wu, in progress, 2009.
• “The Time Trend of Crime”, with Zhiqiang Liu and Yong Yin, in progress, 2008
• "Asset Management, Human Capital, and the Demand for Risky Assets", with Yong Yin and W. A. Hamlen Jr, NBER Working Paper # 14340, September 2008.
• “The Mystery of Human Capital as Engine of Growth, or Why the US Became the Economic Superpower in the 20th Century”, NBER Working Paper # 12868, January 2007
• “Has Social Security Influenced Family Formation and Fertility in OECD Countries? An Economic and Econometric Analysis”, with Jinyoung Kim, NBER Working Paper # 12869, January 2007
• “The Dynamics of Income, Schooling, and Fertility Distributions Over the Course of Economic Development: A Human Capital Perspective”, March 2007. Earlier version published as NBER working paper # w10890, November 2004, National Bureau of Economic Research, Inc.
• Endogenous Fertility, Mortality and Economic growth: Can a Malthusian Framework Account for the Conflicting Historical trends in Population?, with Jinyoung Kim, published as NBER Working Paper # 11590, September 2005.
• "Social Security, Demographic Trends, and Economic Growth: Theory and Evidence from the International Experience" (with J. Kim), published as NBER Working Paper Series # 11121, February 2005, National Bureau of Economic research, Inc.
• “Rationalizing Diversities in Age-Specific Life Expectancies and Private Values of Life Saving: a Calibrated Numerical Analysis”, with Yong Yin, published as NBER Working Paper #W10759, September 2004, National Bureau of Economic Research, Inc.
• “Modeling Longevity: The Problem and Its Resolution in Discrete and Continuous Time”, with Sergei Morozov”, preliminary manuscript, 2002.
• "A New Index of the Price of Advertising Messages," (with L. Fisher), manuscript, SUNY/Buffalo and Rutgers Univ. Appendix to our 1982 JPE paper.


| Prof. Ehrlich | Short Vitae | Research | Department of Economics | MA Program |