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NBER Working Papers
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1656: Who Escapes? The Relation of Church-Going & Other Background Factors to the Socio-Economic Performance of Blk. Male Yths. from Inner-City Pvrty Tracts
Richard B. Freeman
1655: The Indexation of Interest, Depreciation, and Capital Gains: A Model ofInvestment Incentives
Don Fullerton
1654: Time to Build, Option Value, and Investment Decisions
Saman Majd and Robert S. Pindyck
1653: How do Public Sector Wages and Employment Respond to Economic Conditions
Richard B. Freeman
1652: Union Maids: Unions and the Female Workforce
Richard B. Freeman and Jonathan S. Leonard
1651: Country Risk, Foreign Borrowing and the Social Discount Rate in an Open Developing Economy
Sebastian Edwards
1650: Estimates of the Value of Patent Rights in European Countries During thePost-1950 Period
Mark Schankerman and Ariel Pakes
1649: The Effect of Unionism on Productivity in Privately and Publicly Owned Hospitals and Nursing Homes
Steven Allen
1648: Unemployment, Disequilibrium, and the Short Run Phillips Curve: An Econometric Approach
Richard E. Quandt and Harvey Rosen
1647: Banking in General Equilibrium
Ben S. Bernanke and Mark L. Gertler
1646: Pubic Debt and U.S. Saving: A New Test of the Neutrality Hypothesis
Michael J. Boskin and Laurence J. Kotlikoff
1645: The Efficiency Gains from Social Security Benefit - Tax Linkage
Alan Auerbach and Laurence J. Kotlikoff
1644: Is the Strong Dollar Sustainable?
Paul R. Krugman
1643: Estimating the Continuous Time Consumption Based Asset Pricing Model
Sanford Jay Grossman , Angelo Melino and Robert J. Shiller
1642: Employment, Hours, and Earnings in the Depression: An Analysis of EightManufacturing Industries
Ben S. Bernanke
1641: Wages in the Federal and Private Sectors
Steven Venti
1640: Are Imports to Blame?: Attribution of Injury Under the 1974 Trade Act
Robert S. Pindyck and Julio Rotemberg
1639: A Vintage Model of Supply Applied to French Manufacturing
Pentti J.K. Kouri , Jorge A. Braga de Macedo and Albert J. Viscio
1638: Hours Restrictions and Labor Supply
William T. Dickens and Shelly J Lundberg
1637: Macroeconomic Interdependence of Japan and the United States: Some Simulation Results
Naoko Ishii , Warwick J. McKibbin and Jeffrey Sachs
1636: The Dollar and the Policy Mix: 1985
Jeffrey Sachs
1635: Implicit Contracts: A Survey
Sherwin Rosen
1634: Small Countries in Monetary Unions: A Two-Tier Model
Jorge A. Braga de Macedo
1633: Hospital Cost and Efficiency Under Per Service and Per Case Payment in Maryland: A Tale of the Carrot and the Stick
David S. Salkever , Donald M. Steinwachs and Agnes Rupp
1632: On the Limitations of Government Borrowing: A Framework for Empirical Testing
James Hamilton and Marjorie A. Flavin
1631: State Personal Income and Sales Taxes: 1977-1983
Daniel Richard Feenberg and Harvey Rosen
1630: Pure Price Effects of Nonwage Compensation
Jeffrey S. Zax
1629: Borrowing Restrictions and Wealth Constraints: Implications for Aggregate Consumption
Carl Walsh
1628: Estimating Neonatal Mortality Rates from the Heights of Children: The Case of American Slaves
Richard H. Steckel
1627: A Tax-Based Test for Nominal Rigidities
James Poterba , Julio Rotemberg and Lawrence H. Summers
1626: Stock Returns and the Term Structure
John Y. Campbell
1625: Serial Correlation of Asset Returns and Optimal Portfolios for the Long and Short Term
Stanley Fischer and George G. Pennacchi
1624: The Sensitivity of Labor Demand Functions to Choice of Dependent Variable
George Borjas
1623: Aggregate Output with Operating Rates and Inventories as Buffers BetweenVariable Final Demand and Quasi-Fixed Factors
John F. Helliwell and Alan Chung
1622: Pension Funding and Saving
B. Douglas Bernheim and John B. Shoven
1621: A Model for Analyzing Youth Labor Market Policies
Alan L. Gustman and Thomas L. Steinmeier
1620: Education Achievement in Segregated School Systems: The Effects of "Separate-But-Equal"
Robert Andrew Margo
1619: Credit Rationing and Effective Supply Failures
Alan S. Blinder
1618: Money and Interest in a Cash-in-Advance Economy
Robert E. Lucas and Nancy L. Stokey
1617: The Implications of Mean-Variance Optimization for Four Questions in International Macroeconomics
Jeffrey Alexander Frankel
1616: Do Wages Rise With Job Seniority?
Joseph G. Altonji and Robert A. Shakotko
1615: The Impossibility of Rational Bubbles
Behzad T. Diba and Herschel . Grossman
1614: Valuation and Optimal Exercise of the Wild Card Option in the Treasury Bond Futures Market
Alex Kane and Alan J. Marcus
1613: On the Negative Correlation Between Performance and Experience and Education
Andrew Murray Weiss and Henry Landau
1612: Asset Pricing Model Specification and the Term Structure Evidence
Terry A. Marsh
1611: Aspects of Investor Behavior Under Risk
Benjamin M. Friedman and V. Vance Roley
1610: Conventional Valuation and the Term Structure of Interest Rates
Robert J. Shiller
1609: Supply Shocks, Wage Indexation and Monetary Accommodation
Joshua Aizenman and Jacob A. Frenkel
1608: Part-Time Work vs. Full-Time Work of Married Women in Japan
Tadashi Yamada and Tetsuji Yamada
1607: Estimating the Effects of R&D on Bell System Productivity: A Model of Embodied Technical Change
Roger H. Gordon , Mark Schankerman and Richard H. Spady
1606: Some Historical Evidence 1870-1933 on the Impact and International Transmission of Financial Crises
Michael David Bordo
1605: Paying the Piper, Calling the Tune: Implications of Changes in Reimbursement
Victor R. Fuchs
1604: Does a Flexible Industry Wage Structure Increase Employment?: The U.S. Experience
Linda A. Bell and Richard B. Freeman
1603: Real Aspects of Exchange Rate Regime Choice with Collapsing Fixed Rates
Robert P. Flood and Robert James Hodrick
1602: How Does the Market Value Unfunded Pension Liabilities?
Jeremy I. Bulow , Randall Morck and Lawrence H. Summers
1601: Ruling Out Nonstationary Speculative Bubbles
Maurice Obstfeld and Kenneth S Rogoff
1600: Does the Tax System Favor Investment in High-Tech or Smoke-Stack Industries?
Don Fullerton and Andrew B Lyon
1599: An Empirical Examination of Municipal Financial Policy
Roger H. Gordon and Joel Slemrod
1598: Capital Flows, Investment, and Exchange Rates
Alan C. Stockman and Lars E. O. Svensson
1597: The Effect of Job Complexity on Job Satisfaction: Evidence From Turnover and Absenteeism
Andrew Murray Weiss
1596: On Consequences and Criticisms of Monetary Targeting
Bennett McCallum
1595: High School Graduation, Performance and Earnings
Andrew Murray Weiss
1594: Parsimoneous Modeling of Yield Curves for U.S. Treasury Bills
Charles R. Nelson and Andrew F. Siegel
1593: Optimal Time-Consistent Fiscal Policy with Uncertain Lifetimes
Guillermo A. Calvo and Maurice Obstfeld
1592: The Effect of the Treasury Proposal on Charitable Giving: A Comparison of Constant and Variable Elasticity Models
Lawrence B. Lindsey
1591: Purchasing Power Parity
Rüdiger Dornbusch
1590: Exchange Rate Management: Intertemporal Tradoffs
Elhanan Helpman and Assaf Razin
1589: Monetary Information and Interest Rates
Carl Walsh
1588: Game Modelling the Tokyo Round of Tariff Negotiations
Robert E. Baldwin and Richard N. Clarke
1587: Shifts in the Nineteenth-Century Phillips Curve Relationship
John Allan James
1586: Macroeconomic Stabilization Through Taxation and Indexation: The use ofFirm-Specific Information
Richard C. Marston and Stephen J Turnovsky
1585: A Disaggregated, Structural Analysis of Retirement by Race, Difficulty of Work and Health
Alan L. Gustman and Thomas L. Steinmeier
1584: International Monetary Policy to Promote Economic Recovery
Willem Hendrik Buiter
1583: On the Complementarity of Commercial Policy, Capital Controls and Inflation Tax
Joshua Aizenman
1582: Labor Relations, Wages and Nonwage Compensation in Municipal Employment
Jeffrey S. Zax
1581: A Variance Bounds Test of the Linear Quardractic Inventory Model
Kenneth D. West
1580: Money Demand Predictability
V. Vance Roley
1579: Firm-Level Policy Toward Older Workers
Olivia S. Mitchell and Rebecca A. Luzadis
1578: Collective Bargaining Laws and Threat Effects of Unionism in the Determination of Police Compenstation
Richard B. Freeman , Casey Ichniowski and Harrison Lauer
1577: The Real Exchange Rate as a Tool of Commercial Policy
Michael Mussa
1576: Exchange Rate and Current Account Dynamics Under Rational Expectations: An Econometric Analysis
David H. Papell
1575: Real Interest Rate, Credit Markets, and Economic Stabilization
Paul Jenkins and Carl Walsh
1574: Collective Pegging to a Single Currency: The West African Monetary Union
Jorge A. Braga de Macedo
1573: Exchange Rate Flexibility and the Transmission of Business Cycles
Jorge A. Braga de Macedo and David M. Meerschwam
1572: Bank Deregulation, Accounting Systems of Exchange, and the Unit of Account: A Critical Review
Bennett McCallum
1571: Macroeconomic Policy Under Currency Inconvertibility
Jorge A. Braga de Macedo
1570: Commodity Export Prices and the Real Exchange Rate in Developing Countries: Coffee in Colombia
Sebastian Edwards
1569: Market, Government, and Israel's Muted Baby Boom
Yoram Ben-Porath
1568: Notes on the Effect of Capital Gains Taxation on Non-Austrian Assets
Dan Kovenock and Michael Rothschild
1567: Macroeconomics, Income Distribution, and Poverty
Rebecca M. Blank and Alan S. Blinder
1566: Economics of Information and the Theory of Economic Development
Joseph E. Stiglitz
1565: Crowding Out or Crowding In? Evidence on Debt-Equity Substitutability
Benjamin M. Friedman
1564: Adjusting Output and Productivity Indexes for Changes in the Terms of Trade
Walter Erwin Diewert and Catherine J. Morrison Paul
1563: Inventories, Stock-Outs, and Production Smoothing
Andrew Abel
1562: Education, Welfare, and the "New" Federalism: State Budgeting in a Federalist Public Economy
Steven G. Craig and Robert P. Inman
1561: Productivity Measurement with Nonstatic Expectations and Varying Capacity Utilization: An Integrated Approach
Catherine J. Morrison Paul
1560: Monitoring Costs and Occupational Segregation by Sex: An Historical Analysis
Claudia Goldin
1559: The Usefulness of the Wind-Up Measure of Pension Liabilities: A LabourMarket Perspective
James Pesando
1558: Unemployment-Rate Dynamics and Persistent Unemployment Under Rational Expectations
Michael Darby , John Haltiwanger and Mark W. Plant
1557: The Competitive Position of U.S. Manufacturing Firms
Robert E. Lipsey and Irving B. Kravis