Beginning July 1, 2012, all submissions to AEA journals, including revisions of previously submitted papers, must be accompanied by a Disclosure Statement. This is applicable even when the authors have no relevant interests to disclose. Authors will need to provide a separate Disclosure Statement for each coauthor at the time of submission. Submissions that do not include the statements will be considered incomplete and will not be reviewed. Please see the complete Disclosure Policy at http://www.aeaweb.org/aea_journals/AEA_Disclosure_Policy.pdf