NBER Working Papers

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13260: Incomplete Markets, Heterogeneity and Macroeconomic Dynamics

Bruce Preston and Mauro Roca

13259: Central Bank Communication and Expectations Stabilization

Stefano Eusepi and Bruce Preston

13258: French Wine and the U.S. Boycott of 2003: Does Politics Really Affect Commerce?

Orley Ashenfelter, Stephen Ciccarella and Howard Shatz

13257: Does the Minimum Legal Drinking Age Save Lives?

Jeffrey Miron and Elina Tetelbaum

13256: US Faculty Patenting: Inside and Outside the University

Jerry Thursby, Anne Fuller and Marie Thursby

13255: Defining Price Stability in Japan: A View from America

Christian Broda and David Weinstein

13254: Optimal Monetary Policy in a 'Sudden Stop'

Fabio Braggion, Lawrence Christiano and Jorge Roldos

13253: The Organizational Implications of Creativity: The US Film Industry in Mid-XXth Century

Ricard Gil and Pablo Spiller

13252: Does Pollution Increase School Absences?

Janet Currie, Eric Hanushek, E. Megan Kahn, Matthew Neidell and Steven Rivkin

13251: Agency Conflicts, Investment, and Asset Pricing

Rui Albuquerque and Neng Wang

13250: Investment, Consumption, and Hedging under Incomplete Markets

Jianjun Miao and Neng Wang

13249: The Fundamentals of Commodity Futures Returns

Gary Gorton, Fumio Hayashi and K. Rouwenhorst

13248: The Effect of Taxes on Royalties and the Migration of Intangible Assets Abroad

John H. Mutti and Harry Grubert

13247: Can Higher Prices Stimulate Product Use? Evidence from a Field Experiment in Zambia

Nava Ashraf, James Berry and Jesse Shapiro

13246: What Do Nonprofits Maximize? Nonprofit Hospital Service Provision and Market Ownership Mix

Jill R. Horwitz and Austin Nichols

13245: Arbitrage-Free Bond Pricing with Dynamic Macroeconomic Models

Michael Gallmeyer, Burton Hollifield, Francisco Palomino and Stanley Zin

13244: Net Worth, Exchange Rates, and Monetary Policy: The Effects of a Devaluation in a Financially Fragile Environment

Domenico Delli Gatti, Mauro Gallegati, Bruce C. Greenwald and Joseph Stiglitz

13243: Giffen Behavior: Theory and Evidence

Robert T. Jensen and Nolan H. Miller

13242: Labor Market Institutions Around the World

Richard Freeman

13241: Trade and Capital Flows: A Financial Frictions Perspective

Pol Antras and Ricardo Caballero

13240: Risk Shifting versus Risk Management: Investment Policy in Corporate Pension Plans

Joshua Rauh

13239: Explaining Product Price Differences Across Countries

Robert Lipsey and Birgitta Swedenborg

13238: Endogenous Decentralization in Federal Environmental Policies

Howard Chang, Hilary Sigman and Leah G. Traub

13237: Older and Wiser? Birth Order and IQ of Young Men

Sandra Black, Paul Devereux and Kjell G Salvanes

13236: A Unified Framework for Measuring Preferences for Schools and Neighborhoods

Patrick Bayer, Fernando Ferreira and Robert McMillan

13235: How Does Outsourcing Affect Performance Dynamics? Evidence from the Automobile Industry

Sharon Novak and Scott Stern

13234: The Impact of Uncertain Intellectual Property Rights on the Market For Ideas: Evidence From Patent Grant Delays

Joshua Gans, David H. Hsu and Scott Stern

13233: The Same Yet Different: Worker Reports on Labour Practices and Outcomes in a Single Firm Across Countries

Richard Freeman, Douglas Kruse and Joseph Blasi

13232: Complementarity Among Vertical Integration Decisions: Evidence from Automobile Product Development

Sharon Novak and Scott Stern

13231: Comparative Advantage in Cyclical Unemployment

Mark Bils, Yongsung Chang and Sun-Bin Kim

13230: Employment Law and the Labor Market

Christine Jolls

13229: Why are Immigrants' Incarceration Rates so Low? Evidence on Selective Immigration, Deterrence, and Deportation

Kristin Butcher and Anne Piehl

13228: The Welfare Cost of Asymmetric Information: Evidence from the U.K. Annuity Market

Liran Einav, Amy Finkelstein and Paul Schrimpf

13227: Extreme Weather Events, Mortality and Migration

Olivier Deschenes and Enrico Moretti

13226: Measuring the Dynamics of Young and Small Businesses: Integrating the Employer and Nonemployer Universes

Steven Davis, John Haltiwanger, Ron Jarmin, C.J. Krizan, Javier Miranda, Alfred Nucci and Kristin Sandusky

13225: Deferred Acceptance Algorithms: History, Theory, Practice, and Open Questions

Alvin Roth

13224: Sources of Lifetime Inequality

Mark Huggett, Gustavo Ventura and Amir Yaron

13223: After Johnny Came Marching Home: The Political Economy of Veterans' Benefits in the Nineteenth Century

Sung Won Kang and Hugh Rockoff

13222: Trade Growth under the African Growth and Opportunity Act

Garth Frazer and Johannes Van Biesebroeck

13221: Does Age Structure Forecast Economic Growth?

David Bloom, David Canning, Günther Fink and Jocelyn Finlay

13220: Risk Based Explanations of the Equity Premium

John Donaldson and Rajnish Mehra

13219: What Determines Giving to Hurricane Katrina Victims? Experimental Evidence on Income, Race, and Fairness

Christina M. Fong and Erzo Luttmer

13218: Governance, Issuance Restrictions, And Competition In Payment Card Networks

Robert Pindyck

13217: Mental Health in Childhood and Human Capital

Janet Currie and Mark Stabile

13216: Optimal Reserve Management and Sovereign Debt

Laura Alfaro and Fabio Kanczuk

13215: The Guy at the Controls: Labor Quality and Power Plant Efficiency

James Bushnell and Catherine Wolfram

13214: Zeros, Quality and Space: Trade Theory and Trade Evidence

Richard Baldwin and James Harrigan

13213: The New Market for Federal Judicial Law Clerks

Christopher Avery, Christine Jolls, Richard Posner and Alvin Roth

13212: Dynamics of Union Organizations: A Look at Gross Flows in the LORS Files

Thomas Holmes and Michael Walrath

13211: Should We Drill in the Arctic National Wildlife Refuge? An Economic Perspective

Matthew Kotchen and Nicholas Burger

13210: Wage Structure and Labor Mobility in the Netherlands 1999-2003

Lex Borghans and Ben Kriechel

13209: Aggregate Implications of Credit Market Imperfections

Kiminori Matsuyama

13208: Economic and Political Inequality in Development: The Case of Cundinamarca, Colombia

Daron Acemoglu, María Angélica Bautista, Pablo Querubin and James Robinson

13207: Banking and Interest Rates in Monetary Policy Analysis: A Quantitative Exploration

Marvin Goodfriend and Bennett McCallum

13206: Racial Discrimination Among NBA Referees

Joseph Price and Justin Wolfers

13205: Random Walk Expectations and the Forward Discount Puzzle

Philippe Bacchetta and Eric van Wincoop

13204: Liquidity and Trading Dynamics

Veronica Guerrieri and Guido Lorenzoni

13203: Offshoring in a Ricardian World

Andres Rodriguez-Clare

13202: Managerial Ownership Dynamics and Firm Value

Ruediger Fahlenbrach and René Stulz

13201: Information Diffusion Effects in Individual Investors' Common Stock Purchases Covet Thy Neighbors' Investment Choices

Zoran Ivkovich and Scott Weisbenner

13200: Government Investment and the European Stability and Growth Pact

Marco Bassetto and Vadym Lepetyuk

13199: Monetary Policy and Business Cycles with Endogenous Entry and Product Variety

Florin Bilbiie, Fabio Ghironi and Marc Melitz

13198: Spin-offs and the Market for Ideas

Satyajit Chatterjee and Esteban Rossi-Hansberg

13197: The Two Crises of International Economics

Michael Dooley, Peter Garber and David Folkerts-Landau

13196: Long-Run Risks and Financial Markets

Ravi Bansal

13195: The Economics, Technology and Neuroscience of Human Capability Formation

James Heckman

13194: Latin America's Access to International Capital Markets: Good Behavior or Global Liquidity?

Ana Fostel and Graciela Kaminsky

13193: School Desegregation and Educational Attainment for Blacks

Sarah J. Reber

13192: From Separate and Unequal to Integrated and Equal? School Desegregation and School Finance in Louisiana

Sarah J. Reber

13191: The Age of Reason: Financial Decisions Over the Lifecycle

Sumit Agarwal, John Driscoll, Xavier Gabaix and David Laibson

13190: Wisdom and Creativity in Old Age: Lessons from the Impressionists

David Galenson

13189: Investor Sentiment in the Stock Market

Malcolm Baker and Jeffrey Wurgler

13188: Maternal employment, breastfeeding, and health: Evidence from maternity leave mandates

Michael Baker and Kevin Milligan

13187: An Analysis of the Performance of Federal Indigent Defense Counsel

Radha Iyengar

13186: Does the Certainty of Arrest Reduce Domestic Violence? Evidence from Mandatory and Recommended Arrest laws

Radha Iyengar

13185: Demographic Change, Relative Factor Prices, International Capital Flows, and Their Differential Effects on the Welfare of Generations

Alexander Ludwig, Dirk Krueger and Axel H. Boersch-Supan

13184: Capitalism and Democracy in 2040: Forecasts and Speculations

Robert Fogel

13183: A Structural Approach to Identifying the Sources of Local-Currency Price Stability

Pinelopi Goldberg and Rebecca Hellerstein

13182: A Professor Like Me: The Influence of Instructor Gender on College Achievement

Florian Hoffman and Philip Oreopoulos

13181: Current and Future Prevalence of Obesity and Severe Obesity in the United States

Christopher Ruhm

13180: Democracy, Technology, and Growth

Philippe Aghion, Alberto Alesina and Francesco Trebbi

13179: Gender Roles and Technological Progress

Stefania Albanesi and Claudia Olivetti

13178: Climate Change, Mortality, and Adaptation: Evidence from Annual Fluctuations in Weather in the US

Olivier Deschenes and Michael Greenstone

13177: Interest Rate Rules, Inflation Stabilization, and Imperfect Credibility: The Small Open Economy Case

Guillermo Calvo

13176: Assessment of U.S. Cap-and-Trade Proposals

Sergey Paltsev, John Reilly, Henry D. Jacoby, Angelo Gurgel, Gilbert Metcalf, Andrei P. Sokolov and Jennifer F. Holak

13175: Diffusion of Common Application Membership and Admissions Outcomes at American Colleges and Universities

Albert Liu, Ronald Ehrenberg and Jesenka Mrdjenovic

13174: Investment and the Cost of Capital: New Evidence from the Corporate Bond Market

Simon Gilchrist and Egon Zakrajšek

13173: Portfolio Choices with Near Rational Agents: A Solution of Some International-Finance Puzzles

Pierpaolo Benigno

13172: Information, Technology and Information Worker Productivity: Task Level Evidence

Sinan Aral, Erik Brynjolfsson and Marshall Van Alstyne

13171: Business Groups and the Big Push: Meiji Japan's Mass Privatization and Subsequent Growth

Randall Morck and Masao Nakamura

13170: Development Through Synergistic Reform

James Rauch

13169: Individual Account Investment Options and Portfolio Choice: Behavioral Lessons from 401(k) Plans

Jeffrey Brown, Nellie Liang and Scott Weisbenner

13168: Neighbors Matter: Causal Community Effects and Stock Market Participation

Jeffrey Brown, Zoran Ivkovich, Paul A. Smith and Scott Weisbenner

13167: Why Has Unemployment Risen in the New South Africa

Abhijit Banerjee, Sebastian Galiani, James Levinsohn, Zoë McLaren and Ingrid Woolard

13166: How Structural Are Structural Parameters?

Jesus Fernandez-Villaverde and Juan F Rubio-Ramirez

13165: Predictable Returns and Asset Allocation: Should a Skeptical Investor Time the Market?

Jessica Wachter and Missaka Warusawitharana

13164: Why Doesn't Capitalism Flow to Poor Countries?

Rafael Di Tella and Robert MacCulloch

13163: Choosing Agents and Monitoring Consumption: A Note on Wealth as a Corruption-Controlling Device

Rafael Di Tella and Federico Weinschelbaum

13162: Women, Wealth and Mobility

Lena Edlund and Wojciech Kopczuk

13161: Spatial Mismatch or Racial Mismatch?

Judith Hellerstein, David Neumark and Melissa McInerney