NBER Working Papers

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11009: Externalities and Growth

Pete Klenow and Andres Rodriguez-Clare

11008: Latin America in the Rearview Mirror

Harold Cole, Lee Ohanian, Alvaro Riascos and James Schmitz

11007: Macroeconomic Conditions, Health and Mortality

Christopher Ruhm

11006: Bank Mergers and Crime: The Real and Social Effects of Credit Market Competition

Mark J. Garmaise and Tobias J. Moskowitz

11005: Cultural Biases in Economic Exchange

Luigi Guiso, Paola Sapienza and Luigi Zingales

11004: Do Liquidation Values Affect Financial Contracts? Evidence from Commercial Loan Contracts and Zoning Regulation

Efraim Benmelech, Mark J. Garmaise and Tobias Moskowitz

11003: An Assignment Theory of Foreign Direct Investment

Volker Nocke and Stephen Yeaple

11002: Executive Financial Incentives and Payout Policy: Firm Responses to the 2003 Dividend Tax Cut

Jeffrey Brown, Nellie Liang and Scott Weisbenner

11001: Do Markets Reduce Costs? Assessing the Impact of Regulatory Restructuring on U.S. Electric Generation Efficiency

Kira Markiewicz, Nancy Rose and Catherine Wolfram

11000: Dynamic Scoring: A Back-of-the-Envelope Guide

N. Gregory Mankiw and Matthew Weinzierl

10999: Growth vs. Margins: Destabilizing Consequences of Giving the Stock Market What it Wants

Philippe Aghion and Jeremy Stein

10998: Corporate Financing Decisions When Investors Take the Path of Least Resistance

Malcolm Baker, Joshua Coval and Jeremy Stein

10997: Vertical Integration and Technology: Theory and Evidence

Daron Acemoglu, Philippe Aghion, Rachel Griffith and Fabrizio Zilibotti

10996: Parametric Portfolio Policies: Exploiting Characteristics in the Cross Section of Equity Returns

Michael W. Brandt, Pedro Santa-Clara and Rossen Valkanov

10995: Taylor Rules and the Deutschmark-Dollar Real Exchange Rate

Charles Engel and Kenneth West

10994: Explaining the Magnitude of Liquidity Premia: The Roles of Return Predictability, Wealth Shocks and State-Dependent Transaction Costs

Anthony W. Lynch and Sinan Tan

10993: Fluctuations in a Dreadful Childhood: Synthetic Longitudinal Height Data, Relative Prices and Weather in the Short-Term Health of American Slaves

Richard Steckel

10992: China's New Regional Trade Agreements

Agata Antkiewicz and John Whalley

10991: The Gift of the Dying: The Tragedy of AIDS and the Welfare of Future African Generations

Alwyn Young

10990: Global Growth Opportunities and Market Integration

Geert Bekaert, Campbell Harvey, Christian Lundblad and Stephan Siegel

10989: The Interaction of Public and Private Insurance: Medicaid and the Long-Term Care Insurance Market

Jeffrey Brown and Amy Finkelstein

10988: Happy News from the Dismal Science: Reassessing the Japanese Fiscal Policy and Sustainability

Christian Broda and David Weinstein

10987: Enforcement, Private Political Pressure and the GATT/WTO Escape Clause

Kyle Bagwell and Robert Staiger

10986: Large Devaluations and the Real Exchange Rate

Ariel Burstein, Martin Eichenbaum and Sergio Rebelo

10985: Globalization and the Returns to Speaking English in South Africa

James Levinsohn

10984: The Determinants of Progressive Era Reform: The Pure Food and Drugs Act of 1906

Marc Law and Gary Libecap

10983: Finance, Firm Size, and Growth

Thorsten Beck, Asli Demirguc-Kunt, Luc Laeven and Ross Levine

10982: How do Banks Manage Liquidity Risk? Evidence from Equity and Deposit Markets in the Fall of 1998

Philip E. Strahan, Evan Gatev and Til Schuermann

10981: Some New Variance Bounds for Asset Prices

Charles Engel

10980: Why Should We Care About Child Labor? The Education, Labor Market, and Health Consequences of Child Labor

Kathleen Beegle, Rajeev Dehejia and Roberta Gatti

10979: Finance, Inequality, and Poverty: Cross-Country Evidence

Thorsten Beck, Asli Demirguc-Kunt and Ross Levine

10978: Theft and Taxes

Mihir A. Desai, Isaac Dyck and Luigi Zingales

10977: Tax Policy for Health Insurance

Jonathan Gruber

10976: The Economic Theory of Illegal Goods: The Case of Drugs

Gary Becker, Kevin Murphy and Michael Grossman

10975: Semiparametric Causality Tests Using the Policy Propensity Score

Joshua Angrist and Guido Kuersteiner

10974: Tobacco Spending and its Crowd-Out of Other Goods

Susan H. Busch, Mireia Jofre-Bonet, Tracy Falba and Jody L. Sindelar

10973: Has Monetary Policy Become More Efficient? A Cross Country Analysis

Stephen Cecchetti, Alfonso Flores-Lagunes and Stefan Krause Montalbert

10972: Manufacturer Liability for Harms Caused by Consumers to Others

Bruce Hay and Kathryn E. Spier

10971: Incentives to Learn

Michael Kremer, Edward Miguel and Rebecca Thornton

10970: Consumption Commitments and Habit Formation

Raj Chetty and Adam Szeidl

10969: Who Wins and Who Loses? Public Transfer Accounts for US Generations Born 1850 to 2090

Antoine Bommier, Ronald Lee, Timothy Miller and Stéphane Zuber

10968: The Integration of Child Tax Credits and Welfare: Evidence from the National Child Benefit Program

Kevin Milligan and Mark Stabile

10967: Aging and the Welfare State: The Role of Young and Old Voting Pivots

Assaf Razin and Efraim Sadka

10966: Institutions and Technological Innovation During the Early Economic Growth: Evidence from the Great Inventors of the United States, 1790-1930

B. Zorina Khan and Kenneth Sokoloff

10965: Digging the Dirt at Public Expense: Governance in the Building of the Erie Canal and Other Public Works

Stanley Engerman and Kenneth Sokoloff

10964: Prescription Drugs, Medical Care, and Health Outcomes: A Model of Elderly Health Dynamics

Zhou Yang, Donna Gilleskie and Edward Norton

10963: Bounds in Competing Risks Models and the War on Cancer

Bo E. Honore and Adriana Lleras-Muney

10962: Incompatibility, Product Attributes and Consumer Welfare: Evidence from ATMs

Christopher Knittel and Victor Stango

10961: Covered Interest Arbitrage: Then vs. Now

Ted Juhl, William Miles and Marc Weidenmier

10960: Gunboats, Reputation, and Sovereign Repayment: Lessons from the Southern Confederacy

Marc Weidenmier

10959: Sorting It Out: International Trade and Protection With Heterogeneous Workers

Franziska Ohnsorge and Daniel Trefler

10958: Using Tontines to Finance Public Goods: Back to the Future?

Andreas Lange, John List and Michael Price

10957: Does Openness to Trade Make Countries More Vulnerable to Sudden Stops, Or Less? Using Gravity to Establish Causality

Jeffrey Frankel and Eduardo Cavallo

10956: The Economics of Technology Sharing: Open Source and Beyond

Josh Lerner and Jean Tirole

10955: A Theory of Housing Collateral, Consumption Insurance and Risk Premia

Hanno Lustig and Stijn Van Nieuwerburgh

10954: Globalization and Disinflation: A Note

Assaf Razin

10953: Has the Unified Budget Undermined the Federal Government Trust Funds?

Sita Nataraj and John B. Shoven

10952: The Concept of Systematic Corruption in American Political and Economic History

John Joseph Wallis

10951: Resolving the Puzzle of the Underissuance of National Bank Notes

Charles Calomiris and Joseph R. Mason

10950: Retrospective on the 1970s Productivity Slowdown

William Nordhaus

10949: An Investigation of the Effects of Alcohol Policies on Youth STDs

Michael Grossman, Robert Kaestner and Sara Markowitz

10948: Individual Behaviors and Substance Use: The Role of Price

Michael Grossman

10947: Using Hit Rate Tests to Test for Racial Bias in Law Enforcement: Vehicle Searches in Wichita

Nicola Persico and Petra Todd

10946: Measuring Disparate Impacts and Extending Disparate Impact Doctrine to Organ Transplantation

Robert Bornholz and James Heckman

10945: Demographic Changes and International Factor Mobility

John Helliwell

10944: How to Eliminate Pyramidal Business Groups - The Double Taxation of Inter-Corporate Dividends and Other Incisive Uses of Tax Policy

Randall Morck

10943: Information and Externalities in Sequential Litigation

Xiny Hua and Kathryn E. Spier

10942: Financial Globalization, Growth and Volatility in Developing Countries

Eswar Prasad, Kenneth Rogoff, Shang-Jin Wei and Ayhan Kose

10941: When in Peril, Retrench: Testing the Portfolio Channel of Contagion

Fernando Broner, R. Gaston Gelos and Carmen Reinhart

10940: Quantitative Implication of A Debt-Deflation Theory of Sudden Stops and Asset Prices

Enrique Mendoza and Katherine Smith

10939: FDI in Space: Spatial Autoregressive Relationships in Foreign Direct Investment

Bruce Blonigen, Ronald Davies, Glen Waddell and Helen Naughton

10938: Lost Decade in Translation: Did the US Learn from Japan's Post-Bubble Mistakes?

James Harrigan and Kenneth Kuttner

10937: Patterns of Comovement: The Role of Information Technology in the U.S. Economy

Hyunbae Chun, Jung-Wook Kim, Jason Lee and Randall Morck

10936: Do Tax Havens Flourish?

James Hines

10935: Evaluation of Four Tax Reforms in the United States: Labor Supply and Welfare Effects for Single Mothers

Nada Eissa, Henrik Jacobsen Kleven and Claus Kreiner

10934: A Simulation Approach to Dynamic Portfolio Choice with an Application to Learning About Return Predictability

Michael W. Brandt, Amit Goyal, Pedro Santa-Clara and Jonathan Storud

10933: Organizational Scope and Investment: Evidence from the Drug Development Strategies and Performance of Biopharmaceutical Firms

Ilan Guedj and David Scharfstein

10932: Speeding, Tax Fraud, and Teaching to the Test

Edward Lazear

10931: The Structure of Early Care and Education in the United States: Historical Evolution and International Comparisons

Ann Dryden Witte and Marisol Trowbridge

10930: The Distortionary Effects of Government Procurement: Evidence from Medicaid Prescription Drug Purchasing

Mark Duggan and Fiona Scott Morton

10929: Regulation of Entry and the Distortion of Industrial Organization

Raymond Fisman and Virginia Sarria-Allende

10928: Political Contribution Caps and Lobby Formation: Theory and Evidence

Allan Drazen, Nuno Limão and Thomas Stratman

10927: Can Public Discussion Enhance Program Ownership?

Allan Drazen and Peter Isard

10926: The Cost of Business Cycles and the Benefits of Stabilization: A Survey

Gadi Barlevy

10925: The Information of Option Volume for Future Stock Prices

Jun Pan and Allen Poteshman

10924: Monetary Policy and Regional Interest Rates in the United States, 1880-2002

John Landon-Lane and Hugh Rockoff

10923: Financing Invention During the Second Industrial Revolution: Cleveland, Ohio, 1870-1920

Naomi R. Lamoreaux, Margaret Levenstein and Kenneth Sokoloff

10922: Diverging Trends in Macro and Micro Volatility: Facts

Diego Comin and Sunil Mulani

10921: The Steady-State Growth Theorem: A Comment on Uzawa (1961)

Charles Jones and Dean Scrimgeour

10920: Partnership Status and the Human Sex Ratio at Birth

Karen Norberg

10919: The Effect of Improvements in Health and Longevity on Optimal Retirement and Saving

David Bloom, David Canning and Michael Moore

10918: Why Are Power Couples Increasingly Concentrated in Large Metropolitan Areas

Janice Compton and Robert Pollak

10917: Stochastic Infinite Horizon Forecasts for Social Security and Related Studies

Ronald Lee, Timothy Miller and Michael Anderson

10916: Model Uncertainty and Policy Evaluation: Some Theory and Empirics

William Brock, Steven Durlauf and Kenneth West

10915: Fair Pricing

Julio Rotemberg

10914: Predicting Volatility: Getting the Most out of Return Data Sampled at Different Frequencies

Eric Ghysels, Pedro Santa-Clara and Rossen Valkanov

10913: There is a Risk-Return Tradeoff After All

Eric Ghysels, Pedro Santa-Clara and Rossen Valkanov

10912: Jump and Volatility Risk and Risk Premia: A New Model and Lessons from S&P 500 Options

Pedro Santa-Clara and Shu Yan

10911: Fast Times at Ridgemont High? The Effect of Compulsory Schooling Laws on Teenage Births

Sandra Black, Paul J. Devereaux and Kjell G Salvanes

10910: The Product Cycle and Inequality

Boyan Jovanovic