NBER Working Papers

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12160: The Impact of Federation on Australia's Trade Flows

Douglas Irwin

12159: The Short- and Long-Term Career Effects of Graduating in a Recession: Hysteresis and Heterogeneity in the Market for College Graduates

Philip Oreopoulos, Till von Wachter and Andrew Heisz

12158: Optimal Inflation Targeting under Alternative Fiscal Regimes

Pierpaolo Benigno and Michael Woodford

12157: The Macro-Foundations of Microeconomics: Initial Labor Market Conditions and Long-Term Outcomes for Economists

Paul Oyer

12156: Consumer Demand under Price Uncertainty: Empirical Evidence from the Market for Cigarettes

Mark Coppejans, Donna Gilleskie, Holger Sieg and Koleman Strumpf

12155: What Does Certification Tell Us About Teacher Effectiveness? Evidence from New York City

Thomas J. Kane, Jonah E. Rockoff and Doug Staiger

12154: The U.S. Current Account Deficit: Gradual Correction or Abrupt Adjustment?

Sebastian Edwards

12153: The Diffusion of Development

Enrico Spolaore and Romain Wacziarg

12152: An Economist Sells Bagels: A Case Study in Profit Maximization

Steven Levitt

12151: Why Do IPO Auctions Fail?

Ravi Jagannathan and Ann Sherman

12150: Abortion and Selection

Elizabeth Oltmans Ananat, Jonathan Gruber, Phillip Levine and Doug Staiger

12149: Household Finance

John Campbell

12148: Open Source Software: The New Intellectual Property Paradigm

Stephen M. Maurer and Suzanne Scotchmer

12147: Population Aging

David Weil

12146: Investment Taxes and Equity Returns

Clemens Sialm

12145: Preferences and Heterogeneous Treatment Effects in a Public School Choice Lottery

Justine Hastings, Thomas J. Kane and Doug Staiger

12144: Optimal Decentralized Investment Management

Jules van Binsbergen, Michael W. Brandt and Ralph Koijen

12143: The New Promised Land: Black-White Convergence in the American South, 1960-2000

Jacob Vigdor

12142: The Causes of Japan's "Lost Decade": The Role of Household Consumption

Charles Horioka

12141: Illegal Migration from Mexico to the United States

Gordon Hanson

12140: The Dynamics of the Age Structure, Dependency, and Consumption

Heinrich Hock and David Weil

12139: The Homecoming of American College Women: The Reversal of the College Gender Gap

Claudia Goldin, Lawrence Katz and Ilyana Kuziemko

12138: Bubbles and Busts: The 1990s in the Mirror of the 1920s

Eugene White

12137: How Occupied France Financed Its Own Exploitation in World War II

Filippo Occhino, Kim Oosterlinck and Eugene White

12136: Flight to Quality and Collective Risk Management

Ricardo Caballero and Arvind Krishnamurthy

12135: Political Risk Versus Market Risk in Social Security

John B. Shoven and Sita Slavov

12134: The Thick Market Effect on Housing Markets Transactions

Li Gan and Qinghua Zhang

12133: A Political Economy Theory of the Soft Budget Constraint

James Robinson and Ragnar Torvik

12132: Antitrust in the Not-For-Profit Sector

Tomas Philipson and Richard Posner

12131: Complementarities in Automobile Production

Johannes Van Biesebroeck

12130: Does Neoclassical Theory Account for the Effects of Big Fiscal Shocks? Evidence From World War II

Ellen McGrattan and Lee Ohanian

12129: Zombie Lending and Depressed Restructuring in Japan

Ricardo Caballero, Takeo Hoshi and Anil Kashyap

12128: Why Does Democracy Need Education?

Edward Glaeser, Giacomo Ponzetto and Andrei Shleifer

12127: Institutional Weakness and Stock Price Volatility

Galina Hale, Assaf Razin and Hui Tong

12126: Empirical Models of Auctions

Susan Athey and Philip Haile

12125: On the Theory of Ethnic Conflict

Francesco Caselli and Wilbur Coleman

12124: Why Do Europeans Smoke More than Americans?

David Cutler and Edward Glaeser

12123: The Effects of Retirement on Physical and Mental Health Outcomes

Dhaval Dave, Inas Rashad and Jasmina Spasojevic

12122: Why China is Likely to Achieve its Growth Objectives

Robert Fogel

12121: Distribution Margins, Imported Inputs, and the Sensitivity of the CPI to Exchange Rates

Linda Goldberg and Jose Campa

12120: The Impact of New Laboratory Procedures and Other Medical Innovations on the Health of Americans, 1990-2003: Evidence from Longitudinal, Disease-Level Data

Frank Lichtenberg

12119: Exploring Links Between Innovation and Diffusion: Adoption of NOx Control Technologies at U.S. Coal-Fired Power Plants

David Popp

12118: The Greenspan Era: Discretion, Rather Than Rules

Benjamin M. Friedman

12117: Exchange Rate Volatility and Productivity Growth: The Role of Financial Development

Philippe Aghion, Philippe Bacchetta, Romain Ranciere and Kenneth Rogoff

12116: Learning from Other Economies: The Unique Institutional and Policy Experiments Down Under

Richard Freeman

12115: The Narrowing of the U.S. Gender Earnings Gap, 1959-1999: A Cohort-Based Analysis

Catherine Weinberger and Peter Kuhn

12114: Prison-Based Education and Re-Entry into the Mainstream Labor Market

John Tyler and Jeffrey Kling

12113: Effects of Title IX and Sports Participation on Girls' Physical Activity and Weight

Robert Kaestner and Xin Xu

12112: Testing for Asymmetric Information Using 'Unused Observables' in Insurance Markets: Evidence from the U.K. Annuity Market

Amy Finkelstein and James Poterba

12111: Deprivation and Disease in Early Twentieth-Century America

Karen Clay and Werner Troesken

12110: Sick of Local Government Corruption? Vote Islamic

J. Vernon Henderson and Ari Kuncoro

12109: Reconciling the Return Predictability Evidence

Martin Lettau and Stijn Van Nieuwerburgh

12108: Persistence of Power, Elites and Institutions

Daron Acemoglu and James Robinson

12107: Pay for Short-Term Performance: Executive Compensation in Speculative Markets

Patrick Bolton, Jose Scheinkman and Wei Xiong

12106: Migration and Hedonic Valuation: The Case of Air Quality

Patrick Bayer, Nathaniel Keohane and Christopher Timmins

12105: Public Health Insurance, Program Take-Up, and Child Health

Anna Aizer

12104: Taxes and Growth in a Financially Underdeveloped Country: Evidence from the Chilean Investment Boom

Chang-Tai Hsieh and Jonathan Parker

12103: Dynamic Scoring: Alternative Financing Schemes

Eric Leeper and Shu-Chun Yang

12102: A Healthy Economy Can Break Your Heart

Christopher Ruhm

12101: Phoenix Miracles in Emerging Markets: Recovering without Credit from Systemic Financial Crises

Guillermo Calvo, Alejandro Izquierdo and Ernesto Talvi

12100: A Dynamic Theory of Public Spending, Taxation and Debt

Marco Battaglini and Stephen Coate

12099: Political Conflict and Power-sharing in the Origins of Modern Colombia

Sebastián Mazzuca and James Robinson

12098: Testing Portfolio Efficiency with Conditioning Information

Wayne Ferson and Andrew F. Siegel

12097: Friend or Foe? A Natural Experiment of the Prisoner's Dilemma

John List

12096: The Impact of Antihypertensive Drugs on the Number and Risk of Death, Stroke and Myocardial Infarction in the United States

Genia Long, David Cutler, Ernst R. Berndt, Jimmy Royer, Andrée-Anne Fournier, Alicia Sasser and Pierre Cremieux

12095: Sticky Borders

Gita Gopinath and Roberto Rigobon

12094: Innovation, Competition and Welfare-Enhancing Monopoly

Michael Darby and Lynne Zucker

12093: Rent Preservation and the Persistence of Underdevelopment

Raghuram Rajan

12092: War in Iraq versus Containment

Steven Davis, Kevin Murphy and Robert Topel

12091: Trade, FDI, and the Organization of Firms

Elhanan Helpman

12090: Is There Hedge Fund Contagion?

Nicole M. Boyson, Christof W. Stahel and René Stulz

12089: Monetary and Fiscal Theories of the Price Level: The Irreconcilable Differences

Bennett McCallum and Edward Nelson

12088: Making it in America: Social Mobility in the Immigrant Population

George Borjas

12087: Financial Constraints, Asset Tangibility, and Corporate Investment

Heitor Almeida and Murillo Campello

12086: The Effects of Tort Reform on Medical Malpractice Insurers' Ultimate Losses

Patricia Born, W Viscusi and Tom Baker

12085: Immigration in High-Skill Labor Markets: The Impact of Foreign Students on the Earnings of Doctorates

George Borjas

12084: Agency-Based Asset Pricing

Gary Gorton and Ping He

12083: Prediction Markets in Theory and Practice

Justin Wolfers and Eric Zitzewitz

12082: Measuring Trends in Leisure: The Allocation of Time Over Five Decades

Mark Aguiar and Erik Hurst

12081: The Depressing Effect of Agricultural Institutions on the Prewar Japanese Economy

Fumio Hayashi and Edward Prescott

12080: Insurance and Incentives for Medical Innovation

Alan M. Garber, Charles Jones and Paul Romer

12079: Why Have Business Cycle Fluctuations Become Less Volatile?

Andres Arias, Gary Hansen and Lee Ohanian

12078: Racial Segregation and the Black-White Test Score Gap

David Card and Jesse Rothstein

12077: Post-Secondary Education and Increasing Wage Inequality

Thomas Lemieux

12076: Discretionary Policy and Multiple Equilibria

Robert King

12075: Asset Prices When Agents are Marked-to-Market

Gary Gorton, Ping He and Lixin Huang

12074: Are Prudential Supervision and Regulation Pillars of Financial Stability? Evidence from the Great Depression

Kris James Mitchener

12073: Partisan Impacts on the Economy: Evidence from Prediction Markets and Close Elections

Erik Snowberg, Justin Wolfers and Eric Zitzewitz

12072: Recent Chinese Buyout Activity and the Implications for Global Architecture

Agata Antkiewicz and John Whalley

12071: Employee Screening: Theory and Evidence

Fali Huang and Peter Cappelli

12070: Environmental Investment and Policy with Distortionary Taxes and Endogenous Growth

Don Fullerton and Seung-Rae Kim

12069: Looking Beyond TRIA: A Clinical Examination of Potential Terrorism Loss Sharing

Howard Kunreuther and Erwann Michel-Kerjan

12068: CEO Turnover and Relative Performance Evaluation

Dirk Jenter and Fadi Kanaan

12067: A Bound on Risk Aversion Using Labor Supply Elasticities

Raj Chetty

12066: Testing for Racial Differences in the Mental Ability of Young Children

Roland Fryer and Steven Levitt

12065: Inside the Black Box of Doctoral Education: What Program Characteristics Influence Doctoral Students' Attrition and Graduation Probabilities?

Ronald Ehrenberg, George Jakubson, Jeffrey Groen, Eric So and Joseph Price

12064: Program Design and Student Outcomes in Graduate Education

Jeffrey Groen, George Jakubson, Ronald Ehrenberg, Scott Condie and Albert Liu

12063: Putting Behavioral Economics to Work: Testing for Gift Exchange in Labor Markets Using Field Experiments

Uri Gneezy and John List

12062: Unhappiness after Hurricane Katrina

Miles Kimball, Helen Levy, Fumio Ohtake and Yoshiro Tsutsui

12061: Taxation

Louis Kaplow