NBER Working Papers

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19381: Financial Entanglement: A Theory of Incomplete Integration, Leverage, Crashes, and Contagion

Nicolae Gârleanu, Stavros Panageas and Jianfeng Yu

19380: Liberty for More: Finance and Educational Opportunities

Ross Levine and Yona Rubinstein

19379: Innovation and the Financial Guillotine

Ramana Nanda and Matthew Rhodes-Kropf

19378: Financial vs. Strategic Buyers

Marc Martos-Vila, Matthew Rhodes-Kropf and Jarrad Harford

19377: U.S. High-Skilled Immigration, Innovation, and Entrepreneurship: Empirical Approaches and Evidence

William Kerr

19376: Policy Uncertainty, Trade and Welfare: Theory and Evidence for China and the U.S

Kyle Handley and Nuno Limão

19375: Tail Risk and Asset Prices

Bryan Kelly and Hao Jiang

19374: Estimating Dynamic R&D Demand: An Analysis of Costs and Long-Run Benefits

Bettina Peters, Mark Roberts, Vuong Van Anh and Helmut Fryges

19373: Health Insurance for "Humans": Information Frictions, Plan Choice, and Consumer Welfare

Benjamin R. Handel and Jonathan Kolstad

19372: The Rise of Services: the Role of Skills, Scale, and Female Labor Supply

Francisco Buera, Joseph Kaboski and Min Qiang (Kent) Zhao

19371: Commodity Trade and the Carry Trade: a Tale of Two Countries

Robert Ready, Nikolai Roussanov and Colin Ward

19370: Recent Changes in the Gains from Delaying Social Security

John B. Shoven and Sita Slavov

19369: Compulsory Education and the Benefits of Schooling

Melvin Stephens and Dou-Yan Yang

19368: Macroeconomic Analysis without the Rational Expectations Hypothesis

Michael Woodford

19367: Perverse Reverse Price Competition: Average Wholesale Prices and Medicaid Pharmaceutical Spending

Abby Alpert, Mark Duggan and Judith Hellerstein

19366: Is the Affordable Care Act Different from Romneycare? A Labor Economics Perspective

Casey Mulligan

19365: Average Marginal Labor Income Tax Rates under the Affordable Care Act

Casey Mulligan

19364: The Effect of Maternal Employment on Children's Academic Performance

Rachel Dunifon, Anne Toft Hansen, Sean Nicholson and Lisbeth Nielsen

19363: The Decline, Rebound, and Further Rise in SNAP Enrollment: Disentangling Business Cycle Fluctuations and Policy Changes

Peter Ganong and Jeffrey Liebman

19362: From Sudden Stops to Fisherian Deflation: Quantitative Theory and Policy Implications

Anton Korinek and Enrique Mendoza

19361: Long-Term Barriers to Economic Development

Enrico Spolaore and Romain Wacziarg

19360: Identifying Taylor Rules in Macro-Finance Models

David Backus, Mikhail Chernov and Stanley Zin

19359: The Supply of Environmentalism

Edward Glaeser

19358: The Twilight Zone: OTC Regulatory Regimes and Market Quality

Ulf Brüggemann, Aditya Kaul, Christian Leuz and Ingrid M. Werner

19357: The Impact of Parental Death on Child Well-being: Evidence from the Indian Ocean Tsunami

Ava Cas, Elizabeth Frankenberg, Wayan Suriastini and Duncan Thomas

19356: International Competitiveness and Monetary Policy: Strategic Policy and Coordination with a Production Relocation Externality

Paul Bergin and Giancarlo Corsetti

19355: Semiparametric Estimates of Monetary Policy Effects: String Theory Revisited

Joshua Angrist, Oscar Jorda and Guido Kuersteiner

19354: Rational Housing Bubble

Bo Zhao

19353: Efficiencies Brewed: Pricing and Consolidation in the U.S. Beer Industry

Orley Ashenfelter, Daniel Hosken and Matthew Weinberg

19352: Regulating Bidder Participation in Auctions

Vivek Bhattacharya, James W. Roberts and Andrew Sweeting

19351: Financial Incentives and Educational Investment: The Impact of Performance-Based Scholarships on Student Time Use

Lisa Barrow and Cecilia E. Rouse

19350: Informational Rigidities and the Stickiness of Temporary Sales

Eric Anderson, Benjamin Malin, Emi Nakamura, Duncan Simester and Jon Steinsson

19349: Alpha and Performance Measurement: The Effects of Investor Disagreement and Heterogeneity

Wayne Ferson and Jerchern Lin

19348: Shocking Behavior: Random Wealth in Antebellum Georgia and Human Capital Across Generations

Hoyt Bleakley and Joseph P. Ferrie

19347: Risk-Adjusting the Returns to Venture Capital

Arthur Korteweg and Stefan Nagel

19346: Migration into the Welfare State: Tax and Migration Competition

Assaf Razin

19345: Payment Size, Negative Equity, and Mortgage Default

Andreas Fuster and Paul Willen

19344: The Importance of Parental Knowledge and Social Norms: Evidence from Weight Report Cards in Mexico

Silvia Prina and Heather Royer

19343: Sovereign Default Risk and Banks in a Monetary Union

Harald Uhlig

19342: The Role of Agents and Brokers in the Market for Health Insurance

Pinar Karaca-Mandic, Roger Feldman and Peter Graven

19341: Bridging Education Gender Gaps in Developing Countries: The Role of Female Teachers

Karthik Muralidharan and Ketki Sheth

19340: Optimal Primaries

Patrick Hummel and Richard Holden

19339: Global Imbalances and Structural Change in the United States

Timothy Kehoe, Kim Ruhl and Joseph Steinberg

19338: Carbon Taxes vs. Cap and Trade: A Critical Review

Lawrence H. Goulder and Andrew Schein

19337: The Impact of the Federal Reserve's Large-Scale Asset Purchase Programs on Corporate Credit Risk

Simon Gilchrist and Egon Zakrajšek

19336: Exchange Rates and Interest Parity

Charles Engel

19335: The Economic Impact of Non-Communicable Disease in China and India: Estimates, Projections, and Comparisons

David Bloom, Elizabeth T. Cafiero, Mark McGovern, Klaus Prettner, Anderson Stanciole, Jonathan Weiss, Samuel Bakkila and Larry Rosenberg

19334: Forecasting Profitability

Mark Rosenzweig and Christopher Udry

19333: Hospital Choices, Hospital Prices and Financial Incentives to Physicians

Kate Ho and Ariel Pakes

19332: To Give or Not to Give: The Price of Contributing and the Provision of Public Goods

Johannes Diederich and Timo Goeschl

19331: Leaving Boys Behind: Gender Disparities in High Academic Achievement

Nicole Fortin, Philip Oreopoulos and Shelley Phipps

19330: CEO Investment Cycles

Yihui Pan, Tracy Yue Wang and Michael Weisbach

19329: Happiness, Behavioral Economics, and Public Policy

Arik Levinson

19328: Making Do With Less: Working Harder During Recessions

Edward Lazear, Kathryn Shaw and Christopher Stanton

19327: Investment, Tobin's q, and Interest Rates

Xiaoji Lin, Chong Wang, Neng Wang and Jinqiang Yang

19326: Smolyak Method for Solving Dynamic Economic Models: Lagrange Interpolation, Anisotropic Grid and Adaptive Domain

Kenneth Judd, Lilia Maliar, Serguei Maliar and Rafael Valero

19325: Carry

Ralph Koijen, Tobias J. Moskowitz, Lasse Pedersen and Evert Vrugt

19324: Costly Labor Adjustment: General Equilibrium Effects of China's Employment Regulations

Russell Cooper, Guan Gong and Ping Yan

19323: Leverage and the Foreclosure Crisis

P. Dean Corbae and Erwan Quintin

19322: Shelter from the Storm: Upgrading Housing Infrastructure in Latin American Slums

Sebastian Galiani, Paul Gertler, Ryan Cooper, Sebastian Martinez, Adam Ross and Raimundo Undurraga

19321: Autocracy, Democracy and Trade Policy

Sebastian Galiani and Gustavo Torrens

19320: Physician Beliefs and Patient Preferences: A New Look at Regional Variation in Health Care Spending

David Cutler, Jonathan Skinner, Ariel Dora Stern and David Wennberg

19319: Optimal Consumption and Savings with Stochastic Income and Recursive Utility

Chong Wang, Neng Wang and Jinqiang Yang

19318: Behavioral Implications of Rational Inattention with Shannon Entropy

Andrew Caplin and Mark Dean

19317: Optimality and Equilibrium In a Competitive Insurance Market Under Adverse Selection and Moral Hazard

Joseph Stiglitz and Jungyoll Yun

19316: Measuring Investment in Human Capital Formation: An Experimental Analysis of Early Life Outcomes

Orla Doyle, Colm Harmon, James Heckman, Caitriona Logue and Seong Moon

19315: Immigrants' and Native Workers: New Analysis on Longitudinal Data

Mette Foged and Giovanni Peri

19314: Econometric Mediation Analyses: Identifying the Sources of Treatment Effects from Experimentally Estimated Production Technologies with Unmeasured and Mismeasured Inputs

James Heckman and Rodrigo Pinto

19313: A Theory of Macroprudential Policies in the Presence of Nominal Rigidities

Emmanuel Farhi and Iván Werning

19312: Keeping the Doctor Away: Experimental Evidence on Investment in Preventative Health Products

Jennifer M. Meredith, Jonathan Robinson, Sarah Walker and Bruce Wydick

19311: If My Blood Pressure Is High, Do I Take It To Heart? Behavioral Impacts of Biomarker Collection in the Health and Retirement Study

Ryan Edwards

19310: Do Firms Use Coupons and In-store Discounts to Strategically Market Experience Goods Over the Consumption Life-Cycle? The Case of Cigarettes

Andrew Sfekas and Dean R. Lillard

19309: Asset Pricing in the Dark: The Cross Section of OTC Stocks

Andrew Ang, Assaf A. Shtauber and Paul C. Tetlock

19308: Firm Performance in a Global Market

Jan De Loecker and Pinelopi Goldberg

19307: Oblivious Equilibrium for Concentrated Industries

C. Lanier Benkard, Przemyslaw Jeziorski and Gabriel Y. Weintraub

19306: Looking Beyond Enrollment: The Causal Effect of Need-Based Grants on College Access, Persistence, and Graduation

Ben Castleman and Bridget Long

19305: Cycling to School: Increasing Secondary School Enrollment for Girls in India

Karthik Muralidharan and Nishith Prakash

19304: The Inter-generational and Social Transmission of Cultural Traits: Theory and Evidence from Smoking Behavior

Rebekka Christopoulou, Ahmed Jaber and Dean R. Lillard

19303: The Incentive Effect of Scores: Randomized Evidence from Credit Committees

Daniel Paravisini and Antoinette Schoar

19302: Assessing the Effects of Medical Marijuana Laws on Marijuana and Alcohol Use: The Devil is in the Details

Rosalie Pacula, David Powell, Paul Heaton and Eric L. Sevigny

19301: One Ring to Rule Them All? Globalization of Knowledge and Knowledge Creation

Richard Freeman

19300: Combining Banking with Private Equity Investing

Lily Fang, Victoria Ivashina and Josh Lerner

19299: The Disintermediation of Financial Markets: Direct Investing in Private Equity

Lily Fang, Victoria Ivashina and Josh Lerner

19298: The U.S. Market for Higher Education: A General Equilibrium Analysis of State and Private Colleges and Public Funding Policies

Dennis Epple, Richard Romano, Sinan Sarpça and Holger Sieg

19297: Crunch Time: Fiscal Crises and the Role of Monetary Policy

David Greenlaw, James Hamilton, Peter Hooper and Frederic Mishkin

19296: Credit Crunches and Credit Allocation in a Model of Entrepreneurship

Marco Bassetto, Marco Cagetti and Mariacristina De Nardi

19295: Who Says Yes When the Headhunter Calls? Understanding Executive Job Search Behavior

Peter Cappelli and Monika Hamori

19294: State Incentives for Innovation, Star Scientists and Jobs: Evidence from Biotech

Enrico Moretti and Daniel Wilson

19293: Local Economic Development, Agglomeration Economies, and the Big Push: 100 Years of Evidence from the Tennessee Valley Authority

Patrick Kline and Enrico Moretti

19292: The Federal Reserve and Financial Regulation: The First Hundred Years

Gary Gorton and Andrew Metrick

19291: Roads and the Real Exchange Rate

Qingyuan Du, Shang-Jin Wei and Peichu Xie

19290: Regression Discontinuity and the Price Effects of Stock Market Indexing

Yen-Cheng Chang, Harrison Hong and Inessa Liskovich

19289: Using Field Experiments in Environmental and Resource Economics

John List and Michael Price

19288: The Portuguese Slump and Crash and the Euro Crisis

Ricardo Reis

19287: Recessions, Healthy No More?

Christopher Ruhm

19286: The Determinants of Mismatch Between Students and Colleges

Eleanor Dillon and Jeffrey Smith

19285: The Gravity Equation in International Trade: An Explanation

Thomas Chaney

19284: Time Varying Risk Aversion

Luigi Guiso, Paola Sapienza and Luigi Zingales

19283: New Evidence on Taxes and the Timing of Birth

Sara LaLumia, James Sallee and Nick Turner

19282: Migration and Fiscal Competition within a Union

Assaf Razin and Efraim Sadka