NBER Working Papers

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14761: Ratings Shopping and Asset Complexity: A Theory of Ratings Inflation

Vasiliki Skreta and Laura Veldkamp

14760: Stock-Market Crashes and Depressions

Robert Barro and José F. Ursúa

14759: Choice Inconsistencies Among the Elderly: Evidence from Plan Choice in the Medicare Part D Program

Jason T. Abaluck and Jonathan Gruber

14758: The Broadband Bonus: Accounting for Broadband Internet's Impact on U.S. GDP

Shane Greenstein and Ryan McDevitt

14757: Are Stocks Really Less Volatile in the Long Run?

Lubos Pastor and Robert Stambaugh

14756: A Martingale Representation for Matching Estimators

Alberto Abadie and Guido Imbens

14755: Sunk Costs and Risk-Based Barriers to Entry

Robert Pindyck

14754: Risk Preferences in the PSID: Individual Imputations and Family Covariation

Miles Kimball, Claudia Sahm and Matthew Shapiro

14753: Did the 2008 Tax Rebates Stimulate Spending?

Matthew Shapiro and Joel Slemrod

14752: An Activity-Generating Theory of Regulation

Joshua Schwartzstein and Andrei Shleifer

14751: Towards a System of Open Cities in China: Home Prices, FDI Flows and Air Quality in 35 Major Cities

Siqi Zheng, Matthew Kahn and Hongyu Liu

14750: The Internet and Local Wages: Convergence or Divergence?

Chris Forman, Avi Goldfarb and Shane Greenstein

14749: Interracial Workplace Cooperation: Evidence from the NBA

Joseph Price, Lars Lefgren and Henry Tappen

14748: Commodity Price Volatility and World Market Integration since 1700

David Jacks, Kevin O'Rourke and Jeffrey Williamson

14747: Where does regulation hurt? Evidence from new businesses across countries

Silvia Ardagna and Annamaria Lusardi

14746: Technological Changes and Employment of Older Manufacturing Workers in Early Twentieth Century America

Chulhee Lee

14745: Socioeconomic Differences in the Health of Black Union Army Soldiers

Chulhee Lee

14744: Income and Health Spending: Evidence from Oil Price Shocks

Daron Acemoglu, Amy Finkelstein and Matthew Notowidigdo

14743: Modeling Earnings Dynamics

Joseph Altonji, Anthony Smith and Ivan Vidangos

14742: Is Lottery Gambling Addictive?

Jonathan Guryan and Melissa Kearney

14741: Earnings Inequality and Coordination Costs: Evidence From U.S. Law Firms

Luis Garicano and Thomas Hubbard

14740: Large Employers Are More Cyclically Sensitive

Giuseppe Moscarini and Fabien Postel-Vinay

14739: The Credit Crisis: Conjectures about Causes and Remedies

Douglas Diamond and Raghuram Rajan

14738: The Skill Composition of Migration and the Generosity of the Welfare State

Alon Cohen, Assaf Razin and Efraim Sadka

14737: Dynamics of Consumer Demand for New Durable Goods

Gautam Gowrisankaran and Marc Rysman

14736: The Contribution of Highways to GDP Growth

Barbara M. Fraumeni

14735: A New Metric for Banking Integration in Europe

Reint Gropp and Anil Kashyap

14734: International Portfolio Allocation under Model Uncertainty

Pierpaolo Benigno and Salvatore Nisticò

14733: Characteristics of Observed Limit Order Demand and Supply Schedules for Individual Stocks

Jung-Wook Kim, Jason Lee and Randall Morck

14732: A Sticky-Information General-Equilibrium Model for Policy Analysis

Ricardo Reis

14731: Bretton Woods II Still Defines the International Monetary System

Michael Dooley, David Folkerts-Landau and Peter Garber

14730: The distribution of wealth and fiscal policy in economies with finitely lived agents

Jess Benhabib and Alberto Bisin

14729: What Caused the Recession of 2008? Hints from Labor Productivity

Casey Mulligan

14728: Maternal Smoking and the Timing of WIC Enrollment

Cristina Yunzal-Butler, Ted Joyce and Andrew D. Racine

14727: A Note on Liquidity Risk Management

Markus Brunnermeier and Motohiro Yogo

14726: Optimal Bandwidth Choice for the Regression Discontinuity Estimator

Guido Imbens and Karthik Kalyanaraman

14725: Implementing the New Fiscal Policy Activism

Alan Auerbach

14724: Do Target CEOs Sell Out Their Shareholders to Keep Their Job in a Merger?

Leonce L. Bargeron, Frederik Schlingemann, René Stulz and Chad J. Zutter

14723: Regression Discontinuity Designs in Economics

David S. Lee and Thomas Lemieux

14722: The Euro and Fiscal Policy

Antonio Fatas and Ilian Mihov

14721: The Effect of Fast Food Restaurants on Obesity and Weight Gain

Janet Currie, Stefano DellaVigna, Enrico Moretti and Vikram Pathania

14720: International Evidence on the Social Context of Well-Being

John Helliwell, Christopher Barrington-Leigh, Anthony Harris and Haifang Huang

14719: Why We Need to Measure the Effect of Merger Policy and How to Do It

Dennis Carlton

14718: Towards an Efficient Mechanism for Prescription Drug Procurement

Kyna Fong and Michael Schwarz

14717: Work Environment and "Opt-Out" Rates at Motherhood Across High-Education Career Paths

Jane Leber Herr and Catherine Wolfram

14716: Introduction to "China's Growing Role in World Trade"

Robert Feenstra and Shang-Jin Wei

14715: New Ways to Make People Save: A Social Marketing Approach

Annamaria Lusardi, Punam Anand Keller and Adam M. Keller

14714: Financial Patenting in Europe

Bronwyn Hall, Grid Thoma and Salvatore Torrisi

14713: Gender Differences in Risk Aversion and Ambiguity Aversion

Lex Borghans, Bart Golsteyn, James Heckman and Huub Meijers

14712: The Credit Ratings Game

Patrick Bolton, Xavier Freixas and Joel Shapiro

14711: International Trade and the Negotiability of Global Climate Change Agreements

Yuezhou Cai, Raymond Riezman and John Whalley

14710: Understanding Markov-Switching Rational Expectations Models

Roger Farmer, Tao Zha and Daniel Waggoner

14709: Long-Run Impacts of Unions on Firms: New Evidence from Financial Markets, 1961-1999

David Lee and Alexandre Mas

14708: Understanding Commercial Real Estate: Just How Different from Housing Is It?

Joseph Gyourko

14707: Do Teenagers Respond to HIV Risk Information? Evidence from a Field Experiment in Kenya

Pascaline Dupas

14706: Comparing IV With Structural Models: What Simple IV Can and Cannot Identify

James Heckman and Sergio Urzua

14705: Stereotype Threat and the Student-Athlete

Thomas Dee

14704: Economies of Density versus Natural Advantage: Crop Choice on the Back Forty

Thomas Holmes and Sanghoon Lee

14703: Disclosure by Politicians

Simeon Djankov, Rafael La Porta, Florencio Lopez-de-Silanes and Andrei Shleifer

14702: Government Transfers and Political Support

Marco Manacorda, Edward Miguel and Andrea Vigorito

14701: Inflation Bets or Deflation Hedges? The Changing Risks of Nominal Bonds

John Campbell, Adi Sunderam and Luis Viceira

14700: New Estimation of China's Exchange Rate Regime

Jeffrey Frankel

14699: Measuring the Financial Sophistication of Households

Laurent Calvet, John Campbell and Paolo Sodini

14698: The Term Structures of Equity and Interest Rates

Martin Lettau and Jessica Wachter

14697: The Demand for Youth: Implications for the Hours Volatility Puzzle

Nir Jaimovich, Seth Pruitt and Henry Siu

14696: Reflections on Americans' Views of the Euro Ex Ante

Martin Feldstein

14695: The Economics and Psychology of Inequality and Human Development

Flavio Cunha and James Heckman

14694: Commodity Price Shocks and the Australian Economy since Federation

Sambit Bhattacharyya and Jeffrey Williamson

14693: Savings Constraints and Microenterprise Development: Evidence from a Field Experiment in Kenya

Pascaline Dupas and Jonathan Robinson

14692: Take-Up of Medicare Part D: Results from the Health and Retirement Study

Helen Levy and David Weir

14691: International Finance and Growth in Developing Countries: What Have We Learned?

Maurice Obstfeld

14690: Instruments of development: Randomization in the tropics, and the search for the elusive keys to economic development

Angus Deaton

14689: Median Stable Matching

Michael Schwarz and M. Bumin Yenmez

14688: Global Imbalances and Financial Fragility

Ricardo Caballero and Arvind Krishnamurthy

14687: Municipal Debt and Marginal Tax Rates: Is there a Tax Premium in Asset Prices?

Francis Longstaff

14686: Harvests and Business Cycles in Nineteenth-Century America

Joseph H. Davis, Christopher Hanes and Paul Rhode

14685: Estimating the Effect of a Gasoline Tax on Carbon Emissions

Lucas Davis and Lutz Kilian

14684: Rethinking the Role of Fiscal Policy

Martin Feldstein

14683: Immigration and Inequality

David Card

14682: Welfare and Generational Equity in Sustainable Unfunded Pension Systems

Alan Auerbach and Ronald Lee

14681: Dynamics of the Gender Gap for Young Professionals in the Corporate and Financial Sectors

Marianne Bertrand, Claudia Goldin and Lawrence Katz

14680: Temperature and Income: Reconciling New Cross-Sectional and Panel Estimates

Melissa Dell, Benjamin Jones and Benjamin Olken

14679: Price Variation in Markets with Homogeneous Goods: The Case of Medigap

Nicole Maestas, Mathis Schroeder and Dana Goldman

14678: Is Monetary Policy Effective During Financial Crises?

Frederic Mishkin

14677: The Econometrics of DSGE Models

Jesus Fernandez-Villaverde

14676: Unemployment, Market Work and Household Production

Michael Burda and Daniel Hamermesh

14675: "Momma's Got the Pill": How Anthony Comstock and Griswold v. Connecticut Shaped U.S. Childbearing

Martha Bailey

14674: Last-In First-Out Oligopoly Dynamics

Jaap Abbring and Jeffrey Campbell

14673: China's Current Account and Exchange Rate

Yin-Wong Cheung, Menzie Chinn and Eiji Fujii

14672: Matching and Inequality in the World Economy

Arnaud Costinot and Jonathan Vogel

14671: The Impact of Children's Public Health Insurance Expansions on Educational Outcomes

Phillip Levine and Diane Schanzenbach

14670: R&D Investment, Exporting, and Productivity Dynamics

Bee Yan Aw, Mark Roberts and Yi Xu

14669: Momentum traders in the housing market: survey evidence and a search model

Monika Piazzesi and Martin Schneider

14668: Adaptation and the Boundary of Multinational Firms

Arnaud Costinot, Lindsay Oldenski and James Rauch

14667: Retirement Income Security and Well-Being in Canada

Michael Baker, Jonathan Gruber and Kevin Milligan

14666: Student sorting and bias in value added estimation: Selection on observables and unobservables

Jesse Rothstein

14665: Who Bears Aggregate Fluctuations and How?

Jonathan Parker and Annette Vissing-Jorgensen

14664: How Globalization Affects Tax Design

James Hines and Lawrence Summers

14663: The Integrated Financial and Real System of National Accounts for the United States: Does It Presage the Financial Crisis?

Michael Palumbo and Jonathan Parker

14662: The Margins of U.S. Trade (Long Version)

Andrew Bernard, J. Jensen, Stephen Redding and Peter Schott