NBER Working Papers

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19461: Rounding the Corners of the Policy Trilemma: Sources of Monetary Policy Autonomy

Michael Klein and Jay Shambaugh

19460: Hybrid Tail Risk and Expected Stock Returns: When Does the Tail Wag the Dog?

Turan G. Bali, Nusret Cakici and Robert F. Whitelaw

19459: Advance Refundings of Municipal Bonds

Andrew Ang, Richard Green and Yuhang Xing

19458: Private Equity, Jobs, and Productivity

Steven Davis, John Haltiwanger, Kyle Handley, Ron Jarmin, Josh Lerner and Javier Miranda

19457: Solving and Estimating Indeterminate DSGE Models

Roger Farmer, Vadim Khramov and Giovanni Nicolò

19456: Measuring Uncertainty

Kyle Jurado, Sydney Ludvigson and Serena Ng

19455: Household Finance: Education, Permanent Income and Portfolio Choice

Russell Cooper and Guozhong Zhu

19454: Wages, Pensions, and Public-Private Sector Compensation Differentials for Older Workers

Philipp Bewerunge and Harvey Rosen

19453: Causal Analysis after Haavelmo

James Heckman and Rodrigo Pinto

19452: Parental Leave and Children's Schooling Outcomes: Quasi-Experimental Evidence from a Large Parental Leave Reform

Natalia Danzer and Victor Lavy

19451: The Effect of Depression on Labor Market Outcomes

Lizhong Peng, Chad Meyerhoefer and Samuel H. Zuvekas

19450: Modeling Area-Level Health Rankings

Charles Courtemanche, Samir Soneji and Rusty Tchernis

19449: The More Things Change, the More They Stay the Same? The Safety Net and Poverty in the Great Recession

Marianne Bitler and Hilary Hoynes

19448: Living with the Trilemma Constraint: Relative Trilemma Policy Divergence, Crises, and Output Losses for Developing Countries

Joshua Aizenman and Hiro Ito

19447: Impact of Mortality-Based Performance Measures on Hospital Pricing: the Case of Colon Cancer Surgeries

Avi Dor, Partha Deb, Michael Grossman, Gregory Cooper, Siran Koroukian and Fang Xu

19446: Does Federally-Funded Job Training Work? Nonexperimental Estimates of WIA Training Impacts Using Longitudinal Data on Workers and Firms

Fredrik Andersson, Harry Holzer, Julia Lane, David Rosenblum and Jeffrey Smith

19445: Prizes and Productivity: How Winning the Fields Medal Affects Scientific Output

George Borjas and Kirk Doran

19444: School Accountability, Postsecondary Attainment and Earnings

David Deming, Sarah Cohodes, Jennifer Jennings and Christopher Jencks

19443: Paradox of Thrift Recessions

Zhen Huo and José-Víctor Ríos-Rull

19442: The Possible Unemployment Cost of Average Inflation below a Credible Target

Lars Svensson

19441: The Aggregate Effect of School Choice: Evidence from a Two-stage Experiment in India

Karthik Muralidharan and Venkatesh Sundararaman

19440: Contract Teachers: Experimental Evidence from India

Karthik Muralidharan and Venkatesh Sundararaman

19439: The Changing Role of Government in Financing Health Care: An International Perspective

Mark Stabile and Sarah Thomson

19438: Spousal Health Effects - the Role of Selection

James Banks, Elaine Kelly and James Smith

19437: Continued Existence of Cows Disproves Central Tenets of Capitalism?

Santosh Anagol, Alvin Etang and Dean Karlan

19436: Portfolio Choice with Illiquid Assets

Andrew Ang, Dimitris Papanikolaou and Mark Westerfield

19435: Inference of Bidders' Risk Attitudes in Ascending Auctions with Endogenous Entry

Hanming Fang and Xun Tang

19434: The Impact of Mothers' Earnings on Health Inputs and Infant Health

Naci Mocan, Christian Raschke and Bulent Unel

19433: Privacy and Data-Based Research

Ori Heffetz and Katrina Ligett

19432: Do Managers Do Good with Other People's Money?

Ing-Haw Cheng, Harrison Hong and Kelly Shue

19431: Fiscal Reform and Government Debt in Japan: A Neoclassical Perspective

Gary Hansen and Selahattin Imrohoroglu

19430: Do firms underinvest in long-term research? Evidence from cancer clinical trials

Eric Budish, Benjamin N. Roin and Heidi Williams

19429: Playing Favorites: How Firms Prevent the Revelation of Bad News

Lauren Cohen, Dong Lou and Christopher Malloy

19428: Limited Managerial Attention and Corporate Aging

Claudio Loderer, René Stulz and Urs Waelchli

19427: Property Rights and Intra-Household Bargaining

Shing-Yi Wang

19426: Envirodevonomics: A Research Agenda for a Young Field

Michael Greenstone and B. Kelsey Jack

19425: Was Stalin Necessary for Russia's Economic Development?

Anton Cheremukhin, Mikhail Golosov, Sergei Guriev and Aleh Tsyvinski

19424: Measuring the Impacts of Teachers II: Teacher Value-Added and Student Outcomes in Adulthood

Raj Chetty, John Friedman and Jonah E. Rockoff

19423: Measuring the Impacts of Teachers I: Evaluating Bias in Teacher Value-Added Estimates

Raj Chetty, John Friedman and Jonah E. Rockoff

19422: Heterogeneity in Long Term Health Outcomes of Migrants within Italy

Vincenzo Atella and Partha Deb

19421: Houses as ATMs? Mortgage Refinancing and Macroeconomic Uncertainty

Hui Chen, Michael Michaux and Nikolai Roussanov

19420: The Real Costs of Disclosure

Alex Edmans, Mirko Heinle and Chong Huang

19419: The Impact of the Internet on Advertising Markets for News Media

Susan Athey, Emilio Calvano and Joshua Gans

19418: Bank Failures and Output During the Great Depression

Jeffrey Miron and Natalia Rigol

19417: The Effects of Mandatory Transparency in Financial Market Design: Evidence from the Corporate Bond Market

Paul Asquith, Thom Covert and Parag Pathak

19416: Asset Pricing in the Frequency Domain: Theory and Empirics

Ian Dew-Becker and Stefano Giglio

19415: Insolvency Resolution and the Missing High Yield Bond Markets

Bo Becker and Jens Josephson

19414: The Time for Austerity: Estimating the Average Treatment Effect of Fiscal Policy

Oscar Jorda and Alan Taylor

19413: Cohabitation and the Uneven Retreat from Marriage in the U.S., 1950-2010

Shelly Lundberg and Robert Pollak

19412: Compensation Matters: Incentives for Multitasking in a Law Firm

Ann Bartel, Brianna Cardiff-Hicks and Kathryn Shaw

19411: News Driven Business Cycles: Insights and Challenges

Paul Beaudry and Franck Portier

19410: Do the Laws of Tax Incidence Hold? Point of Collection and the Pass-through of State Diesel Taxes

Wojciech Kopczuk, Justin Marion, Erich Muehlegger and Joel Slemrod

19409: Globalization and Multiproduct Firms

Volker Nocke and Stephen Yeaple

19408: Time-To-Plan Lags for Commercial Construction Projects

Jonathan N. Millar, Stephen Oliner and Daniel Sichel

19407: Equity Vesting and Managerial Myopia

Alex Edmans, Vivian W. Fang and Katharina A. Lewellen

19406: Are Tenure Track Professors Better Teachers?

David Figlio, Morton O. Schapiro and Kevin B. Soter

19405: Does the Federal Reserve Care About the Rest of the World?

Barry Eichengreen

19404: How Consumer Price Subsidies affect Nutrition

Neeraj Kaushal and Felix Muchomba

19403: Exporting Liquidity: Branch Banking and Financial Integration

Erik Gilje, Elena Loutskina and Philip E. Strahan

19402: Decentralization in Developing Economies

Lucie Gadenne and Monica Singhal

19401: Insurer Competition in Health Care Markets

Kate Ho and Robin Lee

19400: Speculative Investors and Tobin's Tax in the Housing Market

Yuming Fu, Wenlan Qian and Bernard Yeung

19399: Equilibria in Health Exchanges: Adverse Selection vs. Reclassification Risk

Benjamin R. Handel, Igal Hendel and Michael Whinston

19398: The Value of Democracy: Evidence from Road Building in Kenya

Robin Burgess, Remi Jedwab, Edward Miguel, Ameet Morjaria and Gerard Padró i Miquel

19397: The Impact of Insurance and HIV Treatment Technology on HIV Testing

Neeraj Sood and Yanyu Wu

19396: Factoryless Goods Producers in the US

Andrew Bernard and Teresa Fort

19395: How do CEOs see their Role? Management Philosophy and Styles in Family and Non-Family Firms

William Mullins and Antoinette Schoar

19394: Patent Commons, Thickets, and Open Source Software Entry by Start-Up Firms

Wen Wen, Marco Ceccagnoli and Chris Forman

19393: The Response of Drug Expenditures to Non-Linear Contract Design: Evidence from Medicare Part D

Liran Einav, Amy Finkelstein and Paul Schrimpf

19392: On Measuring Time Preferences

James Andreoni, Michael Kuhn and Charles Sprenger

19391: The Stock Market Crash Really Did Cause the Great Recession

Roger Farmer

19390: The Phillips Curve is Alive and Well: Inflation and the NAIRU During the Slow Recovery

Robert Gordon

19389: Interpreting Repo Statistics in the Flow of Funds Accounts

Arvind Krishnamurthy and Stefan Nagel

19388: Sovereign Debt: A Review

Mark Aguiar and Manuel Amador

19387: A Direct Test of the "Explanation" for Incomplete Stratification in Vertical Sorting Models

Jacob Fishman and V. Smith

19386: On the Welfare Cost of Consumption Fluctuations in the Presence of Memorable Goods

Rong Hai, Dirk Krueger and Andrew Postlewaite

19385: Enlisting Employees in Improving Payroll-Tax Compliance: Evidence from Mexico

Todd Kumler, Eric Verhoogen and Judith A. Frías

19384: The Endowment Effect

Keith Ericson and Andreas Fuster

19383: Financial Market Shocks and the Macroeconomy

Avanidhar Subrahmanyam and Sheridan Titman

19382: Land Prices and Unemployment

Zheng Liu, Jianjun Miao and Tao Zha

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