Scholarly Comments on Academic Economics

Rejoinder to De Alessi

by

*Michael Kremer* is Gates Professor of Developing Societies in the Department of Economics at Harvard University. His research interests include development economics and macroeconomics. His email address is: mkremer@fas.harvard.edu.

Abstract

world. Our argument is that in the real world prices of storable goods like ivory are influenced by expectations of the future. De Alessi presents no evidence that this is incorrect, rather he simply asserts that the paper is not about the real world.