The Journal of Economic Feelings

"A Journal Dedicated to the Advancement of Economics as it Relates to Non-technical and Non-rigorous Methods."

"Rejecting the Economics of Too Much Brain and Not Enough Heart."

Announcement 1: The Journal of Economic Feelings (JEF) and the Society of Economic Feelers (SEF) would like to remind all that JEF has been an open-access journal since its inception in 2000. Do not be fooled by the upstarts. We been doin' it 'fore they were born.

Announcement 2: In light of market conditions, the Society of Economic Feelers  is announcing modifications to the article submission procedures (see below). Submissions to the Journal of Economic Feelings  can now also be made via e-mail to Tanjim Hossain or Aureo Paula (please submit in PDF or Word format); cheques should be remitted to the JEF c/o our treasurer, Wesley Yin (see bottom).

Announcement 3: The JEF's first non-Princeton article is forthcoming -- conditional on the opinions of the not so annonymous referees -- thanks to friends from New Zealand.

Announcement 4: Tanjim Hossain is still chairing the committee that will choose this year's recipient of the G.A.B.O.R. medal, an award bestowed by the SEF upon the most promising Ph.D. student in economics under the age of 30 who most exemplifies the quality of "doing economics with feelings," or at the very least, one who does economics "mindlessly." Please contact Tanjim Hossain if you would like to submit a nomination (nominating yourself is okay, but submit a picture if you are a female). The deadline for nominations is December 31, 2005. Nominees thus far include Tanjim Hossain, and Tanjim Hossain (again).

Announcement 5: The SEF encourages the fellows and subscribers to use the National Science Foundation to fund research projects to do research (of course) "mindlessly" or to finance vacations, private school tuition fees (for the kids), bail payments, allimony, etc. A recently accepted research proposal by Rani Spiegler and Kfir Eliaz can be found here. In light of their brilliant and "mindless" proposal, the SEF considered electing them as fellows of the SEF. However, that idea was  promptly discarded when they refused to bring any gifts for the President (of SEF, duh!) from Indonesia.

Executive Editor
Sebastian Ludmer(University of Buenos Aires)

President
Jan M. Van Rens (University of Amsterdam)

Treasurer
Wesley Yin (University of Maryland)

Secretaries
Alejandro Justiniano (University of Maryland) 
Giorgio Emanuele Primiceri (Bocconi University)

Editorial Board
Peter Bondarenko (Koc University) 
Kai Lilaka Chan (University of Toronto/ Concordia University) 
Tanjim Hossain (University of Maryland) 
Daisuke Nakajima (University of Tokyo) 
Aureo de Paula (PUC-Rio) 
Wade Donald Pfau (University of Iowa/ GRIPS Tokyo) 
John Alan Smith (University of California at Berkeley) 
Lawrence Liwu Uren (Australian National University) 
Gabor Virag (Budapest University) 
Grace Wong (London School of Economics)

Issue Number 1

Fellows of the Economic Feelings Society to be nominated……………………………………..………………......…………............….1
"My Feelings About the State of the Economy".........................................................……………………………………5 "I Think that the Markets Should Go Down" (no empirical evidence)……………………………………………………………………………......................23"FDI Leads to Prosperity" (a simple IS-LM graphical argument)…………………………………………………………………...................................57"Interest Rates are Too High" (heard this from my barber)………………………………………………………….............................................79"Too Much Foreign Ownership in the US" (saw this on the 6 o'clock news)……………………………………………………………………………………….......102"Immigration is Bad for the Economy" (my friend studying English told me so)…………………………………………………………………………………………....127"No Correlation Between Wealth and Education" (based on one observation)……………………………………………………………………………………….......151"I Predict the DJIA Will Rise" (because an NFC team won the Superbowl)…………………………………………………………………………………..............177"Asian Stocks are Bad Investments" (I don't know why, but they must be)…………………………………………………………………………………..............189

Article Submission Procedures:

Article submissions must adhere to the Journal's guidleines: (i) no algebra, calculus, analysis, or topology is to be used; (ii) only 2-dimensional graphs are permitted (pie charts are highly encouraged); (iii) only linear and quadratic functions (of a single variable) are permitted; (iv) no stochastic elements whatsoever (however, this does not rule out rational expectations in a perfect foresight world); (v) no rational expectations and no learning by doing behaviour; (vi) no Greek letters, and no subscripted (nor superscripted) notation; (vii) the use of log linearisations, Taylor expansions, and Blanchard and Kahn methods are strictly prohibited. Please submit article(s), in suitable electronic form, along with a $500 (US) fee per article to

The Journal of Economic Feelings c/o Wade Pfau
Department of Economics
Princeton University
Princeton, NJ 08544.

All fees are used for the vices and bad habits of the Editorial Board. A "donation" of $5000 (US) will guarantee that your article will be published. For subscriptions please remit your cheque for $1,000,000 payable to "The Journal of Economic Feelings" at the above address; the student rate is $999,999.99 and must be accompanied with a letter from a Professor.

Copyright 2000 & 2001 by the trustees and fellows of the Society of Economic Feelers and by the directors of the Journal of Economic Feelings. The reproduction of the works of this journal are strictly prohibited without the expressed written consent of the trustees and fellows of the Society of Economic Feelers and/or the directors of the Journal of Economic Feelings.

© Aureo de Paula 2012