NBER Working Papers

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17610: Permanent Income and the Black-White Test Score Gap

Jesse Rothstein and Nathan Wozny

17609: Immigrant-Native Substitutability: The Role of Language Ability

Ethan Lewis

17608: Can Governments Do It Better? Merger Mania and Hospital Outcomes in the English NHS

Martin Gaynor, Mauro Laudicella and Carol Propper

17607: Economic History or History of Economics? A Review Essay on Sylvia Nasar's Grand Pursuit: the Story of Economic Genius

Orley Ashenfelter

17606: Contracting With Synergies

Alex Edmans, Itay Goldstein and John Zhu

17605: Skill-biased Technological Change, Earnings of Unskilled Workers, and Crime

Naci Mocan and Bulent Unel

17604: Skill Biased Heterogeneous Firms, Trade Liberalization, and the Skill Premium

James Harrigan and Ariell Reshef

17603: Size Inequality, Coordination Externalities and International Trade Agreements

Nuno Limão and Kamal Saggi

17602: The Role of Information in Competitive Experimentation

Ufuk Akcigit and Qingmin Liu

17601: Resource Windfalls, Political Regimes, and Political Stability

Francesco Caselli and Andrea Tesei

17600: The Impact of the Macroeconomy on Health Insurance Coverage: Evidence from the Great Recession

John Cawley, Asako S. Moriya and Kosali Simon

17599: Should Derivatives be Privileged in Bankruptcy?

Patrick Bolton and Martin Oehmke

17598: Coping with Shocks and Shifts: The Multilateral Trading System in Historical Perspective

Douglas Irwin and Kevin O'Rourke

17597: Anticipating the Great Depression? Gustav Cassel's Analysis of the Interwar Gold Standard

Douglas Irwin

17596: Local Industrial Structures and Female Entrepreneurship in India

Ejaz Ghani, William Kerr and Stephen O'Connell

17595: Gold Sterilization and the Recession of 1937-38

Douglas Irwin

17594: Trade Prices and the Global Trade Collapse of 2008-2009

Gita Gopinath, Oleg Itskhoki and Brent Neiman

17593: The External Impact of China's Exchange Rate Policy: Evidence from Firm Level Data

Barry Eichengreen and Hui Tong

17592: The Leverage Effect Puzzle: Disentangling Sources of Bias at High Frequency

Yacine Ait-Sahalia, Jianqing Fan and Yingying Li

17591: Does School Autonomy Make Sense Everywhere? Panel Estimates from PISA

Eric Hanushek, Susanne Link and Ludger Woessmann

17590: Shaped by Booms and Busts: How the Economy Impacts CEO Careers and Management Styles

Antoinette Schoar and Luo Zuo

17589: Substitution and Stigma: Evidence on Religious Competition from the Catholic Sex-Abuse Scandal

Daniel Hungerman

17588: Marginal Effects in Multivariate Probit and Kindred Discrete and Count Outcome Models, with Applications in Health Economics

John Mullahy

17587: The Welfare Economics of Default Options in 401(k) Plans

B. Douglas Bernheim, Andrey Fradkin and Igor Popov

17586: Sovereign CDS and Bond Pricing Dynamics in the Euro-area

Giorgia Palladini and Richard Portes

17585: Charitable Giving When Altruism and Similarity are Linked

Julio Rotemberg

17584: Rising Labor Productivity during the 2008-9 Recession

Casey Mulligan

17583: Credit Crises, Precautionary Savings, and the Liquidity Trap

Veronica Guerrieri and Guido Lorenzoni

17582: Feedback Effects and the Limits to Arbitrage

Alex Edmans, Itay Goldstein and Wei Jiang

17581: The Determinants and Long-term Projections of Saving Rates in Developing Asia

Charles Horioka and Akiko Hagiwara

17580: Socioeconomic Differences in the Impact of Smoking Tobacco and Alcohol Prices on Smoking in India

G Emmanuel Guindon, Arindam Nandi, Frank Chaloupka and Prabhat Jha

17579: Laws and Norms

Roland Benabou and Jean Tirole

17578: What U.S. Data Should be Used to Measure the Price Elasticity of Demand for Alcohol?

Christopher Ruhm, Alison Jones, William C. Kerr, Thomas K. Greenfield, Joseph Terza, Ravi S. Pandian and Kerry Anne McGeary

17577: The Dynamics of Firm Lobbying

William Kerr, William Lincoln and Prachi Mishra

17576: How Would EU Corporate Tax Reform Affect US Investment in Europe?

Michael Devereux and Simon Loretz

17575: Temperature, Aggregate Risk, and Expected Returns

Ravi Bansal and Juan Ochoa

17574: Welfare Costs of Long-Run Temperature Shifts

Ravi Bansal and Juan Ochoa

17573: Patent Pools and the Direction of Innovation - Evidence from the 19th-century Sewing Machine Industry

Ryan L. Lampe and Petra Moser

17572: Academic Dynasties: Decentralization and Familism in the Italian Academia

Ruben Durante, Giovanna Labartino and Roberto Perotti

17571: The "Austerity Myth": Gain Without Pain?

Roberto Perotti

17570: The Impact of Immigration on Native Poverty through Labor Market Competition

Giovanni Peri

17569: The Promise and Problems of Pricing Carbon: Theory and Experience

Joseph Aldy and Robert Stavins

17568: A Model of Private Equity Fund Compensation

Wonho Wilson Choi, Andrew Metrick and Ayako Yasuda

17567: The Effect of Liquidity on Governance

Alex Edmans, Vivian W. Fang and Emanuel Zur

17566: Persistent Liquidity Effects and Long Run Money Demand

Fernando E. Alvarez and Francesco Lippi

17565: Ownership Characteristics, Real Exchange Rate Movements and Labor Market Adjustment in China

Risheng Mao and John Whalley

17564: The Forward Premium Puzzle in a Two-Country World

Ian Martin

17563: The Lucas Orchard

Ian Martin

17562: Fiscal Policy and Unemployment

Marco Battaglini and Stephen Coate

17561: Testing Conditional Factor Models

Andrew Ang and Dennis Kristensen

17560: When Bonds Matter: Home Bias in Goods and Assets

Nicolas Coeurdacier and Pierre-Olivier Gourinchas

17559: A Sorted Tale of Globalization: White Collar Jobs and the Rise of Service Offshoring

Runjuan Liu and Daniel Trefler

17558: A Transparency Standard for Derivatives

Viral Acharya

17557: Identifying Demand with Multidimensional Unobservables: A Random Functions Approach

Jeremy Fox and Amit Gandhi

17556: Cost-Effectiveness of Electricity Energy Efficiency Programs

Toshi Arimura, Shanjun Li, Richard Newell and Karen Palmer

17555: The Effects of Quantitative Easing on Interest Rates: Channels and Implications for Policy

Arvind Krishnamurthy and Annette Vissing-Jorgensen

17554: School Resources and Educational Outcomes in Developing Countries: A Review of the Literature from 1990 to 2010

Paul Glewwe, Eric Hanushek, Sarah D. Humpage and Renato Ravina

17553: A Unified Theory of Firm Selection and Growth

Costas Arkolakis

17552: The Costs of Financial Crises: Resource Misallocation, Productivity and Welfare in the 2001 Argentine Crisis

Guido Sandleris and Mark Wright

17551: The Stock of External Sovereign Debt: Can We Take the Data At 'Face Value'?

Daniel Dias, Christine Richmond and Mark Wright

17550: A Linder Hypothesis for Foreign Direct Investment

Pablo Fajgelbaum, Gene Grossman and Elhanan Helpman

17549: On the Connections between Intertemporal and Intra-temporal Trades

Jiandong Ju, Kang Shi and Shang-Jin Wei

17548: A Theory of Asset Pricing Based on Heterogeneous Information

Elias Albagli, Christian Hellwig and Aleh Tsyvinski

17547: How Did the Recession of 2007-2009 Affect the Wealth and Retirement of the Near Retirement Age Population in the Health and Retirement Study?

Alan Gustman, Thomas L. Steinmeier and Nahid Tabatabai

17546: Unconditional Convergence

Dani Rodrik

17545: How Do Informal Agreements and Renegotiation Shape Contractual Reference Points?

Ernst Fehr, Oliver Hart and Christian Zehnder

17544: The Contribution of Chinese FDI to Africa's Pre Crisis Growth Surge

Aaron Weisbrod and John Whalley

17543: Supply-Side Policies and the Zero Lower Bound

Jesus Fernandez-Villaverde, Pablo Guerron and Juan F Rubio-Ramirez

17542: Sovereign Debt, Government Myopia, and the Financial Sector

Viral Acharya and Raghuram Rajan

17541: The Trouble with Boys: Social Influences and the Gender Gap in Disruptive Behavior

Marianne Bertrand and Jessica Pan

17540: Estimates of the Social Cost of Carbon: Background and Results from the RICE-2011 Model

William Nordhaus

17539: Policy-Instrument Choice and Benefit Estimates for Climate-Change Policy in the United States

Matthew Kotchen, Kevin Boyle and Anthony A. Leiserowitz

17538: Adverse Selection and Incentives in an Early Retirement Program

Kenneth T. Whelan, Ronald Ehrenberg, Kevin Hallock and Ronald L. Seeber

17537: Housing and the Macroeconomy: The Role of Bailout Guarantees for Government Sponsored Enterprises

Karsten Jeske, Dirk Krueger and Kurt Mitman

17536: The Composition and Draw-down of Wealth in Retirement

James Poterba, Steven Venti and David Wise

17535: Organizational Economics and Physician Practices

James Rebitzer and Mark E. Votruba

17534: Unemployment Insurance and Job Search in the Great Recession

Jesse Rothstein

17533: Experimental Evidence on the Effect of Childhood Investments on Postsecondary Attainment and Degree Completion

Susan Dynarski, Joshua Hyman and Diane Schanzenbach

17532: The Value-Added Tax Reform Puzzle

Jing Cai and Ann Harrison

17531: The Tax Reform Act of 1986: Comment on the 25th Anniversary

Martin Feldstein

17530: Financial Sector Ups and Downs and the Real Sector: Up by the stairs, down by the parachute

Joshua Aizenman, Brian Pinto and Vladyslav Sushko

17529: Allocating Time: Individuals' Technologies, Household Technology, Perfect Substitutes, and Specialization

Robert Pollak

17528: The Effect of FDA Advisories on Branded Pharmaceutical Firms' Valuations and Promotion Efforts

Rena Conti, Haiden A. Huskamp and Ernst R. Berndt

17527: Teaching Practices and Social Capital

Yann Algan, Pierre Cahuc and Andrei Shleifer

17526: Agricultural Policy, Migration, and Malaria in the 1930s United States

Alan Barreca, Price Fishback and Shawn Kantor

17525: Optimal Monetary Policy with Informational Frictions

George-Marios Angeletos and Jennifer La'O

17524: Trade Liberalization and Embedded Institutional Reform: Evidence from Chinese Exporters

Amit Khandelwal, Peter Schott and Shang-Jin Wei

17523: A survey of venture capital research

Marco Da Rin, Thomas Hellmann and Manju Puri

17522: Government Policy and Ownership of Financial Assets

Kristian Rydqvist, Joshua Spizman and Ilya Strebulaev

17521: The Simple Analytics of the Melitz Model in a Small Open Economy

Svetlana Demidova and Andrés Rodríguez-Clarez

17520: Sticky Prices: A New Monetarist Approach

Allen Head, Lucy Qian Liu, Guido Menzio and Randall Wright

17519: Identification and Inference with Many Invalid Instruments

Michal Kolesár, Raj Chetty, John Friedman, Edward Glaeser and Guido Imbens

17518: Ending "Too Big To Fail": Government Promises vs. Investor Perceptions

Todd A. Gormley, Simon Johnson and Changyong Rhee

17517: The Real Effects of Hedge Fund Activism: Productivity, Asset Allocation, and Labor Outcomes

Alon Brav, Wei Jiang and Hyunseob Kim

17516: A Model of Mortgage Default

John Campbell and João F. Cocco

17515: Welfare Magnet Hypothesis, Fiscal Burden and Immigration Skill Selectivity

Assaf Razin and Jackline Wahba

17514: Spatial Determinants of Entrepreneurship in India

Ejaz Ghani, William Kerr and Stephen O'Connell

17513: A Forensic Analysis of Global Imbalances

Menzie Chinn, Barry Eichengreen and Hiro Ito

17512: Innovation and Growth with Financial, and other, Frictions

Jonathan Chiu, Cesaire Meh and Randall Wright

17511: Buyers, Sellers and Middlemen: Variations on Search-Theoretic Themes

Linda Wong and Randall Wright