NBER Working Papers

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11109: Estimating the Impact of Medical Innovation: A Case Study of HIV Antiretroviral Treatments

Mark Duggan and William Evans

11108: Property Tax Limitations and Mobility: The Lock-in Effect of California's Proposition 13

Nada Wasi and Michelle White

11107: The Integration of the Canadian Productivity Accounts within the System of National Accounts: Current Status and Challenges Ahead

John Baldwin and Tarek Harchaoui

11106: The Architecture of the System of National Accounts: A Three Country Comparison, Canada, Australia, and United Kingdom

Karen Wilson

11105: Monetary Policy, Asset-Price Bubbles and the Zero Lower Bound

Tim Robinson and Andrew Stone

11104: The Cross-Section of Currency Risk Premia and US Consumption Growth Risk

Hanno Lustig and Adrien Verdelhan

11103: Implications of Alternative Operational Risk Modeling Techniques

Patrick de Fontnouvelle, John Jordan and Eric Rosengren

11102: Money Growth and Interest Rates

Seok-Kyun Hur

11101: Social Security Privatization with Elastic Labor Supply and Second-Best Taxes

Kent Smetters

11100: What Explains Differences in Smoking, Drinking and Other Health-Related Behaviors

David Cutler and Edward Glaeser

11099: Health Insurance, Treatment and Outcomes: Using Auto Accidents as Health Shocks

Joseph J. Doyle

11098: Structural Reform of Social Security

Martin Feldstein

11097: Urban Growth and Housing Supply

Edward Glaeser, Joseph Gyourko and Raven E. Saks

11096: Water, Water, Everywhere: Municipal Finance and Water Supply in American Cities

David Cutler and Grant Miller

11095: Residential Segregation in General Equilibrium

Patrick Bayer, Robert McMillan and Kim Rueben

11094: Offshoring in a Knowledge Economy

Pol Antras, Luis Garicano and Esteban Rossi-Hansberg

11093: General Purpose Technologies

Boyan Jovanovic and Peter Rousseau

11092: Can Endogenous Changes in Price Flexibility Alter the Relative Welfare Performance of Exchange Rate Regimes?

Ozge Senay and Alan Sutherland

11091: Stemming the Tide? The Effect of Expanding Medicaid Eligibility on Health Insurance

Lara Shore-Sheppard

11090: Why Has Black-White Skill Convergence Stopped?

Derek Neal

11089: Modeling Bond Yields in Finance and Macroeconomics

Francis Diebold, Monika Piazzesi and Glenn Rudebusch

11088: Time Consistency of Fiscal and Monetary Policy: A Solution

Mats Persson, Torsten Persson and Lars Svensson

11087: Did the HMO Revolution Cause Hospital Consolidation?

Robert Town, Douglas Wholey, Roger Feldman and Lawton R. Burns

11086: Federal Oversight, Local Control, and the Specter of "Resegregation" in Southern Schools

Charles Clotfelter, Helen Ladd and Jacob Vigdor

11085: Electoral Manipulation via Expenditure Composition: Theory and Evidence

Allan Drazen and Marcela Eslava

11084: Reducing the Risk of Investment-Based Social Security Reform

Martin Feldstein

11083: A Dynamic Theory of Optimal Capital Structure and Executive Compensation

Andrew Atkeson and Harold Cole

11082: A Theory of Takeovers and Disinvestment

Bart Lambrecht and Stewart C. Myers

11081: The Effects of the Colombian Trade Liberalization on Urban Poverty

Pinelopi Goldberg and Nina Pavcnik

11080: Politics, Relief, and Reform: The Transformation of America's Social Welfare System during the New Deal

John Joseph Wallis, Price Fishback and Shawn Kantor

11079: Saving and Cohabitation: The Economic Consequences of Living with One's Parents in Italy and the Netherlands

Rob Alessie, Agar Brugiavini and Guglielmo Weber

11078: Private Credit in 129 Countries

Simeon Djankov, Caralee McLiesh and Andrei Shleifer

11077: Testing Uncovered Interest Parity at Short and Long Horizons during the Post-Bretton Woods Era

Menzie Chinn and Guy Meredith

11076: Systemic Crises and Growth

Romain Ranciere, Aaron Tornell and Frank Westermann

11075: Foreign Direct Investment and the Domestic Capital Stock

Mihir C. Desai, C. Fritz Foley and James Hines

11074: Optimal Defaults and Active Decisions

Gabriel Carroll, James Choi, David Laibson, Brigitte Madrian and Andrew Metrick

11073: Aggregation Issues in Integrating and Accelerating BEA's Accounts: Improved Methods for Calculating GDP by Industry

Brian Moyer, Marshall Reinsdorf and Robert Yuskavage

11072: How do Incumbents Respond to the Threat of Entry? Evidence from the Major Airlines

Austan Goolsbee and Chad Syverson

11071: Structuring and Restructuring Sovereign Debt: The Role of Seniority

Patrick Bolton and Olivier Jeanne

11070: The Limits of Financial Globalization

René Stulz

11069: Practical Volatility and Correlation Modeling for Financial Market Risk Management

Torben Andersen, Tim Bollerslev, Peter Christoffersen and Francis Diebold

11068: Income and the Use of Prescription Drugs by the Elderly: Evidence from the Notch Cohorts

John R. Moran and Kosali Simon

11067: Bank-Tax Conformity for Corporate Income: An Introduction to the Issues

Michelle Hanlon and Terry Shevlin

11066: Why are the Critics so Convinced that Globalization is Bad for the Poor?

Emma Aisbett

11065: Does it Cost to be Virtuous? The Macroeconomic Effects of Fiscal Constraints

Fabio Canova and Evi Pappa

11064: Where Are We Now? Real-Time Estimates of the Macro Economy

Martin Evans

11063: Wage and Benefit Changes in Response to Rising Health Insurance Costs

Dana Goldman, Neeraj Sood and Arleen Leibowitz

11062: The Global History of Corporate Governance: An Introduction

Randall Morck and Lloyd Steier

11061: Changing Monetary Policy Rules, Learning, and Real Exchange Rate Dynamics

Nelson Mark

11060: Measuring Social Security's Financial Problems

Jagadeesh Gokhale and Kent Smetters

11059: NAFTA's and CUSFTA's Impact on International Trade

John Romalis

11058: The Irony of Reform: Did Large Employers Subvert Workplace Safety Reform, 1869 to 1930?

Price Fishback

11057: Colonialism, Inequality, and Long-Run Paths of Development

Stanley L. Engerman and Kenneth Sokoloff

11056: A Monetary Policy Rule for Automatic Prevention of a Liquidity Trap

Bennett McCallum

11055: How Do Monetary and Fiscal Policy Interact in the European Monetary Union?

Matthew Canzoneri, Robert Cumby and Behzad Diba

11054: Interest Rate, Inflation, and Housing Price: With an Emphasis on Chonsei Price in Korea

Dongchul Cho

11053: Market Distortions when Agents are Better Informed: The Value of Information in Real Estate Transactions

Steven Levitt and Chad Syverson

11052: How Law and Institutions Shape Financial Contracts: The Case of Bank Loans

Jun Qian and Philip E. Strahan

11051: A Multi-Country Approach to Factor-Proportions Trade and Trade Costs

James Markusen and Anthony Venables

11050: Financial Markets and Wages

Claudio Michelacci and Vincenzo Quadrini

11049: The Black-White Test Score Gap Through Third Grade

Roland Fryer and Steven Levitt

11048: Does Food Aid Harm the Poor? Household Evidence from Ethiopia

James Levinsohn and Margaret McMillan

11047: Foreign Direct Investment vs. Foreiegn Portfolio Investment

Itay Goldstein and Assaf Razin

11046: Does Tariff Liberalization Increase Wage Inequality? Some Empirical Evidence

Branko Milanovic and Lyn Squire

11045: Is Poland the Next Spain?

Francesco Caselli and Silvana Tenreyro

11044: On the Optimal Progressivity of the Income Tax Code

Juan Carlos Conesa and Dirk Krueger

11043: State-Dependent or Time-Dependent Pricing: Does it Matter for Recent U.S. Inflation?

Pete Klenow and Oleksiy Kryvtsov

11042: Meese-Rogoff Redux: Micro-Based Exchange Rate Forecasting

Martin Evans and Richard Lyons

11041: Do Currency Markets Absorb News Quickly?

Martin Evans and Richard Lyons

11040: World Trade Flows: 1962-2000

Robert Feenstra, Robert Lipsey, Haiyan Deng, Alyson C. Ma and Hengyong Mo

11039: Dynamic Inefficiencies in Insurance Markets: Evidence from long-term care insurance

Amy Finkelstein, Kathleen McGarry and Amir Sufi

11038: Insuring Against Terrorism: The Policy Challenge

Kent Smetters

11037: Bank Trading Risk and Systemic Risk

Philippe Jorion

11036: Work and the Disability Transition in 20th Century America

Sven Wilson, Joseph Burton and Benjamin Howell

11035: Drinking and Academic Performance in High School

Jeffrey DeSimone and Amy M. Wolaver

11034: Firm-Specific Capital, Nominal Rigidities and the Business Cycle

David Altig, Lawrence Christiano, Martin Eichenbaum and Jesper Lindé

11033: The Predictive Content of Energy Futures: An Update on Petroleum, Natural Gas, Heating Oil and Gasoline

Menzie Chinn, Michael LeBlanc and Olivier Coibion

11032: Allander Series: Skill Policies for Scotland

James Heckman and Dimitriy V. Masterov

11031: Wage Dynamics and Unobserved Heterogeneity: Time Preference of Learning Ability?

Lalith Munasinghe and Nachum Sicherman

11030: Politics and Efficiency of Separating Capital and Ordinary Government Budgets

Marco Bassetto and Thomas Sargent

11029: Optimal Taxation in an RBC Model: A Linear-Quadratic Approach

Pierpaolo Benigno and Michael Woodford

11028: Public Finance and Individual Preferences over Globalization Strategies

Gordon Hanson, Kenneth F. Scheve and Matthew Slaughter

11027: Globalization, Labor Income, and Poverty in Mexico

Gordon Hanson

11026: Consumption Risk and the Cost of Equity Capital

Ravi Jagannathan and Yong Wang

11025: Choosing Between Gifts and Bequests: How Taxes Affect the Timing of Wealth Transfers

David Joulfaian

11024: Separating Uncertainty from Heterogeneity in Life Cycle Earnings

Flavio Cunha, James Heckman and Salvador Navarro

11023: Internationalization and the Evolution of Corporate Valuation

Ross Levine and Sergio Schmukler

11022: Lobbies and Technology Diffusion

Diego Comin and Bart Hobijn

11021: Weak and Semi-Strong Form Stock Return Predictability Revisited

Wayne Ferson, Andrea Heuson and Tie Su

11020: Mimicking Portfolios with Conditioning Information

Wayne Ferson, Andrew F. Siegel and Pisun (Tracy) Xu

11019: Place of Work and Place of Residence: Informal Hiring Networks and Labor Market Outcomes

Patrick Bayer, Stephen Ross and Giorgio Topa

11018: Money Illusion in the Stock Market: The Modigliani-Cohn Hypothesis

Randolph B. Cohen, Christopher Polk and Tuomo Vuolteenaho

11017: Information Dynamics and Equilibrium Multiplicity in Global Games of Regime Change

George-Marios Angeletos, Christian Hellwig and Alessandro Pavan

11016: Incomplete Market Dynamics in a Neoclassical Production Economy

George-Marios Angeletos and Laurent Calvet

11015: Crises and Prices: Information Aggregation, Multiplicity and Volatility

George-Marios Angeletos and Iván Werning

11014: A Protectionist Bias in Majoritarian Politics

Gene Grossman and Elhanan Helpman

11013: Forging a New Identity: The Costs and Benefits of Diversity in Civil War Combat Units for Black Slaves and Freemen

Dora Costa and Matthew Kahn

11012: The Macroeconomics of Subsistence Points

Morten Ravn, Stephanie Schmitt-Grohe and Martín Uribe

11011: PIPE Dreams? The Performance of Companies Issuing Equity Privately

David J. Brophy, Paige P. Ouimet and Clemens Sialm

11010: Labor Income Dynamics at Business-Cycle Frequencies: Implications for Portfolio Choice

Anthony W. Lynch and Sinan Tan