Journal of Political Economy, volume 133 number 5 (May 2025)

This is volume 133 issue 5 of Journal of Political Economy. One of the oldest and most prestigious journals in economics, the Journal of Political Economy presents significant and essential scholarship in economic theory and practice. The journal publishes highly selective and widely cited analytical, interpretive, and empirical studies in a number of areas, including monetary theory, fiscal policy, labor economics, development, microeconomic and macroeconomic theory, international trade and finance, industrial organization, and social economics.