NBER Working Papers

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11409: Employee Sentiment and Stock Option Compensation

Nittai K. Bergman and Dirk Jenter

11408: Inequality, Social Discounting and Estate Taxation

Emmanuel Farhi and Iván Werning

11407: Tying, Upgrades, and Switching Costs in Durable-Goods Markets

Dennis Carlton and Michael Waldman

11406: Alternative Methods of Price Indexing Social Security: Implications for Benefits and System Financing

Andrew Biggs, Jeffrey Brown and Glenn Springstead

11405: The Value of Health and Longevity

Kevin Murphy and Robert Topel

11404: Importers, Exporters, and Multinationals: A Portrait of Firms in the U.S. that Trade Goods

Andrew Bernard, J. Jensen and Peter Schott

11403: FDI and Trade -- Two Way Linkages?

Joshua Aizenman and Ilan Noy

11402: Efficient Kidney Exchange: Coincidence of Wants in a Structured Market

Alvin Roth, Tayfun Sönmez and Utku Unver

11401: Real Business Cycle Models: Past, Present, and Future

Sergio Rebelo

11400: Investor Attention: Overconfidence and Category Learning

Lin Peng and Wei Xiong

11399: Corruption, Inequality and Fairness

Alberto Alesina and George-Marios Angeletos

11398: Urban Colossus: Why is New York America's Largest City?

Edward Glaeser

11397: Equilibrium Impotence: Why the States and Not the American National Government Financed Economic Development in the Antebellum Era

John Joseph Wallis and Barry Weingast

11396: Party Discipline and Pork Barrel Politics

Gene Grossman and Elhanan Helpman

11395: Price and the Health Plan Choices of Retirees

Thomas Buchmueller

11394: Evaluating the Role of Brown vs. Board of Education in School Equalization, Desegregation, and the Income of African Americans

Orley Ashenfelter, William Collins and Albert Yoon

11393: Market Size, Trade, and Productivity

Marc Melitz and Gianmarco Ottaviano

11392: Optimal Policy Projections

Lars Svensson and Robert Tetlow

11391: Is Cash Negative Debt? A Hedging Perspective on Corporate Financial Policies

Viral Acharya, Heitor Almeida and Murillo Campello

11390: Assigning Deviant Youths to Minimize Total Harm

Philip J Cook and Jens Ludwig

11389: Growth or Glamour? Fundamentals and Systematic Risk in Stock Returns

John Campbell, Christopher Polk and Tuomo Vuolteenaho

11388: The Rise in Firm-Level Volatility: Causes and Consequences

Diego Comin and Thomas Philippon

11387: India's Experience with Capital Flows: The Elusive Quest for a Sustainable Current Account Deficit

Ajay Shah and Ila Patnaik

11386: A General Formula for the Optimal Level of Social Insurance

Raj Chetty

11385: Venture Capital Investment Cycles: The Impact of Public Markets

Paul Gompers, Anna Kovner, Josh Lerner and David Scharfstein

11384: Incomes in South Africa Since the Fall of Apartheid

Murray Leibbrandt, James Levinsohn and Justin McCrary

11383: Historical Perspective on Global Imbalances

Michael Bordo

11382: International Borrowing, Capital Controls and the Exchange Rate: Lessons from Chile

Kevin Cowan and Jose De Gregorio

11381: South Korea's Experience with International Capital Flows

Marcus Noland

11380: Ultra High Frequency Volatility Estimation with Dependent Microstructure Noise

Yacine Ait-Sahalia, Per A. Mykland and Lan Zhang

11379: Hospital Integration and Vertical Consolidation: An Analysis of Acquisitions in New York State

Robert Huckman

11378: An Investigation of the Effects of Alcohol Consumption and Alcohol Policies on Youth Risky Sexual Behaviors

Sara Markowitz, Robert Kaestner and Michael Grossman

11377: Religious Market Structure, Religious Participation, and Outcomes: Is Religion Good for You?

Jonathan Gruber

11376: Does Corporate Ownership Matter? Service Provision in the Hospital Industry

Jill R. Horwitz

11375: A Simple Scheme to Improve the Efficiency of Referenda

Alessandra Casella and Andrew Gelman

11374: Fiscal Remedies for Japan's Slump

Laurence Ball

11373: Productivity, Efficiency, Scale Economies and Technical Change: A New Decomposition Analysis

Jiro Nemoto and Mika Goto

11372: The Microeconomic Evidence on Capital Controls: No Free Lunch

Kristin Forbes

11371: Lobbying Competition Over Trade Policy

Kishore Gawande, Pravin Krishna and Marcelo Olarreaga

11370: What Matters for Financial Development? Capital Controls, Institutions, and Interactions

Menzie Chinn and Hiro Ito

11369: Capital Flows and Exchange Rate Volatility: Singapore's Experience

Basant Kapur

11368: A Theory of Pyramidal Ownership and Family Business Groups

Heitor Almeida and Daniel Wolfenzon

11367: Asset Float and Speculative Bubbles

Harrison Hong, Jose Scheinkman and Wei Xiong

11366: International Reserves: Precautionary versus Mercantilist Views, Theory and Evidence

Joshua Aizenman and Jaewoo Lee

11365: The International Exposure of U.S. Banks

Linda Goldberg

11364: Eat or Be Eaten: A Theory of Mergers and Merger Waves

Gary Gorton, Matthias Kahl and Richard Rosen

11363: Bank Credit Cycles

Gary Gorton and Ping He

11362: Speculative Trading and Stock Prices: Evidence from Chinese A-B Share Premia

Jianping Mei, Jose Scheinkman and Wei Xiong

11361: Optimism and Economic Choice

Manju Puri and David Robinson

11360: The Burden of Knowledge and the 'Death of the Renaissance Man': Is Innovation Getting Harder?

Benjamin Jones

11359: Age and Great Invention

Benjamin Jones

11358: A Proposed Method for Monitoring U.S. Population Health: Linking Symptoms, Impairments, and Health Ratings

Susan T. Stewart, Rebecca M. Woodward, Allison B. Rosen and David Cutler

11357: Asset Fire Sales (and Purchases) in Equity Markets

Joshua D. Coval and Erik Stafford

11356: Contracts and the Division of Labor

Daron Acemoglu, Pol Antras and Elhanan Helpman

11355: The Opium Wars, Opium Legalization, and Opium Consumption in China

Jeffrey Miron and Chris Feige

11354: The Sources of the Productivity Rebound and the Manufacturing Employment Puzzle

William Nordhaus

11353: International Borrowing and Macroeconomic Performance in Argentina

Kathryn Dominguez and Linda Tesar

11352: Studying Texts: A Gemara of the Israeli Economy

Michael Klein

11351: Monopoly-Creating Bank Consolidation? The Merger of Fleet and BankBoston

Charles Calomiris and Thanavut Pornrojnangkool

11350: Venture Capital as Human Resource Management

Antonio Geldson de Carvalho, Charles Calomiris and João Amaro de Matos

11349: Volatility and Growth: Credit Constraints and Productivity-Enhancing Investment

Philippe Aghion, George-Marios Angeletos, Abhijit Banerjee and Kalina Manova

11348: The Determinants of Faculty Patenting Behavior: Demographics or Opportunities?

Pierre Azoulay, Waverly Ding and Toby Stuart

11347: School Quality, Neighborhoods and Housing Prices: The Impacts of school Desegregation

Thomas J. Kane, Doug Staiger and Stephanie K. Riegg

11346: What Remains from the Volcker Experiment?

Benjamin M. Friedman

11345: Adjustment in Property Space Markets: Estimates from the Stockholm Office Market

Peter Englund, Ake Gunnelin, Patric Hendershott and Bo Soderberg

11344: The Worldwide Economic Impact of the Revolutionary and Napoleonic Wars

Kevin O'Rourke

11343: Gender, Body Mass and Economic Status

Dalton Conley and Rebecca Glauber

11342: The Effects of Living Wage Laws: Evidence from Failed and Derailed Living Wage Campaigns

Scott Adams and David Neumark

11341: The Simple Geometry of Transmission and Stabilization in Closed and Open Economies

Giancarlo Corsetti and Paolo Pesenti

11340: New-Keynesian Macroeconomics and the Term Structure

Geert Bekaert, Seonghoon Cho and Antonio Moreno

11339: Trade Responses to Geographic Frictions: A Decomposition Using Micro-Data

Russell Hillberry and David Hummels

11338: The Wage Curve Reloaded

David Blanchflower and Andrew Oswald

11337: Adolescent Drinking and High School Dropout

Pinka Chatterji and Jeffrey DeSimone

11336: Sterling's Past, Dollar's Future: Historical Perspectives on Reserve Currency Competition

Barry Eichengreen

11335: Is China's FDI Coming at the Expense of Other Countries?

Barry Eichengreen and Hui Tong

11334: An Empirical Analysis of 'Acting White'

Roland Fryer and Paul Torelli

11333: Banker Fees and Acquisition Premia for Targets in Cash Tender Offers: Challenges to the Popular Wisdom on Banker Conflicts

Charles Calomiris and Donna M. Hitscherich

11332: Faith-Based Charity and Crowd Out during the Great Depression

Jonathan Gruber and Daniel Hungerman

11331: Interpreting the Evidence on Life Cycle Skill Formation

Flavio Cunha, James Heckman, Lance Lochner and Dimitriy V. Masterov

11330: The Role of Collateralized Household Debt in Macroeconomic Stabilization

Jeffrey Campbell and Zvi Hercowitz

11329: Evidence on Rationality in Commercial Property Markets: An Interpretation and Critique

Patric Hendershott, Robert J. Hendershott and Bryan D. MacGregor

11328: Early Teen Marriage and Future Poverty

Gordon Dahl

11327: Forsaking All Others? The Effects of "Gay Marriage" on Risky Sex

Thomas Dee

11326: The Value Spread as a Predictor of Returns

Naiping Lu and Lu Zhang

11325: Addressing the Needs of Under-Prepared Students in Higher Education: Does College Remediation Work?

Eric Bettinger and Bridget Long

11324: The End of American Exceptionalism? Mobility in the U.S. Since 1850

Joseph P. Ferrie

11323: Expected Returns, Yield Spreads, and Asset Pricing Tests

Murillo Campello, Long Chen and Lu Zhang

11322: Anomalies

Lu Zhang

11321: Patents, Price Controls, and Access to New Drugs: How Policy Affects Global Market Entry

Jean Lanjouw

11320: Sibling Similarity and Difference in Socioeconomic Status: Life Course and Family Resource Effects

Dalton Conley and Rebecca Glauber

11319: Volatility in an Era of Reduced Uncertainty: Lessons from Pax Britannica

William O. Brown, Richard Burdekin and Marc Weidenmier

11318: Measuring the Impact of Crack Cocaine

Roland Fryer, Paul Heaton, Steven Levitt and Kevin Murphy

11317: Judicial Lobbying: The Politics of Labor Law Constitutional Interpretation

Matias Iaryczower, Pablo Spiller and Mariano Tommasi

11316: The Determinants of the Willingness to be an Organ Donor

Naci Mocan and Erdal Tekin

11315: Employee Cost-Sharing and the Welfare Effects of Flexible Spending Accounts

William Jack, Arik Levinson and Sjamsu Rahardja

11314: Has US Monetary Policy Changed? Evidence from Drifting Coefficients and Real-Time Data

Jean Boivin

11313: Measuring and Interpreting Expectations of Equity Returns

Jeff Dominitz and Charles Manski

11312: Real-Time Price Discovery in Stock, Bond and Foreign Exchange Markets

Torben Andersen, Tim Bollerslev, Francis Diebold and Clara Vega

11311: The General Equilibrium Incidence of Environmental Taxes

Don Fullerton and Garth Heutel

11310: Rare Events and the Equity Premium

Robert Barro