NBER Working Papers

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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

10909: Land Prices and Business Fixed Investments in Japan

Nobuhiro Kiyotaki and Kenneth West

10908: Deposit Insurance and External Finance

Stephen Cecchetti and Stefan Krause Montalbert

10907: Managing Macroeconomic Crises

Jeffrey Frankel and Shang-Jin Wei

10906: Vertical Equity Consequences of Very High Cigarette Tax Increases: If the Poor are the Ones Smoking, How Could Cigarette Tax Increases be Progressive?

Gregory Colman and Dahlia K. Remler

10905: The social Security Retirement Earnings Test, Retirement and Benefit Claiming

Alan Gustman and Thomas L. Steinmeier

10904: The Economic Value of Cultural Diversity: Evidence from US Cities

Gianmarco Ottaviano and Giovanni Peri

10903: Hiccups for HIPCs?

Craig Burnside and Domenico Fanizza

10902: Race and Older Age Mortality: Evidence from Union Army Veterans

Dora Costa

10901: Uncovering GPTS with Patent Data

Bronwyn Hall and Manuel Trajtenberg

10900: Corporate Governance and the Plight of Minority Shareholders in the United States Before the Great Depression

Naomi Lamoreaux and Jean-Laurent Rosenthal

10899: Unbalanced Growth

Kala Krishna and Cesar A. Perez

10898: Is Mexico A Lumpy Country?

Andrew Bernard, Raymond Robertson and Peter Schott

10897: The Importance of R&D for Innovation: A Reassessment Using French Survey Data

Jacques Mairesse and Pierre Mohnen

10896: Well-Being and Social Capital: Does Suicide Pose a Puzzle?

John Helliwell

10895: Biases in Static Oligopoly Models? Evidence from the California Electricity Market

Dae-Wook Kim and Christopher Knittel

10894: What Happens When We Randomly Assign Children to Families?

Bruce Sacerdote

10893: Catching-Up to Foreign Technology? Evidence on the "Veblen-Gerschenkron" Effect of Foreign Investments

Giovanni Peri

10892: The Closing of the Gender Gap as a Roy Model Illusion

Casey Mulligan and Yona Rubinstein

10891: Bidding With Securities: Auctions and Security Design

Peter DeMarzo, Ilan Kremer and Andrzej Skrzypacz

10890: The Evolution of Income and Fertility Inequalities over the Course of Economic Development: A Human Capital Perspective

Isaac Ehrlich and Jinyoung Kim

10889: The Cost of Nominal Inertia in NNS Models

Matthew Canzoneri, Robert Cumby and Behzad Diba

10888: Disentangling the Importance of the Precautionary Saving Mode

Arthur Kennickell and Annamaria Lusardi

10887: $1000 Cash Back: Asymmetric Information in Auto Manufaturer Promotions

Meghan Busse, Florian Zettelmeyer and Jorge Silva-Risso

10886: The Impact of the Civil War on Capital Intensity and Labor Productivity in Southern Manufacturing

William Hutchinson and Robert Margo

10885: One Hit Wonders: Why Some of the Most Important Works of Modern Art are Not by Important Artists

David Galenson

10884: The Effect of Drug Vintage on Survival: Micro Evidence from Puerto Rico's Medicaid Program

Frank Lichtenberg

10883: Inattentive Consumers

Ricardo Reis

10882: Aged-Care Support in Japan: Perspectives and Challenges

Olivia Mitchell, John Piggott and Satoshi Shimizutani

10881: Behavioral Economics and Health Economics

Richard G. Frank

10880: R&D Subsidies and Climate Policy: Is There a "Free Lunch"?

David Popp

10879: Educational Opportunity and Income Inequality

Paul Willen, Igal Hendel and Joel Shapiro

10878: Two Decades of Japanese Monetary Policy and the Deflation Problem

Takatoshi Ito and Frederic Mishkin

10877: Product Quality, Linder, and the Direction of Trade

Juan Hallak

10876: Minimum Hours Constraints, Job Requirements and Retirement

Alan Gustman and Thomas L. Steinmeier

10875: Standing on Academic Shoulders: Measuring Scientific Influence in Universities

James Adams, J. Roger Clemmons and Paula Stephan

10874: Piracy on the High C's: Music Downloading, Sales Displacement, and Social Welfare in a Sample of College Students

Rafael Rob and Joel Waldfogel

10873: From Home to Hospital: The Evolution of Childbirth in the United States, 1927-1940

Melissa Thomasson and Jaret Treber

10872: Acquiring Control in Emerging Markets: Evidence from the Stock Market

Anusha Chari, Paige P. Ouimet and Linda Tesar

10871: Tiebout Sorting, Social Multipliers and the Demand for School Quality

Patrick Bayer, Fernando Ferreira and Robert McMillan

10870: Policy Watch: Challenges for Terrorism Risk Insurance in the United States

Howard Kunreuther and Erwann Michel-Kerjan

10869: The Unsustainable US Current Account Position Revisited

Maurice Obstfeld and Kenneth Rogoff

10868: Autopsy on an Empire: Understanding Mortality in Russia and the Former Soviet Union

Elizabeth Brainerd and David Cutler

10867: Theoretical Foundations of Buffer Stock Saving

Christopher Carroll

10866: Estimating Real Production and Expenditures Across Nations: A Proposal for Improving the Penn World Tables

Robert Feenstra, Alan Heston, Marcel Timmer and Haiyan Deng

10865: An Equilibrium Model of Sorting in an Urban Housing Market

Patrick Bayer, Robert McMillan and Kim Rueben

10864: Fixed Costs and FDI: The Conflicting Effects of Productivity Shocks

Assaf Razin, Yona Rubinstein and Efraim Sadka

10863: Behavioral Corporate Finance: A Survey

Malcolm Baker, Richard S. Ruback and Jeffrey Wurgler

10862: Increases in Wealth among the Elderly in the Early 1990s: How Much is Due to Survey Design?

Susann Rohwedder, Steven Haider and Michael Hurd

10861: Compensating Wage Differentials and AIDS Risk

Jeffrey DeSimone and Edward J. Schumacher

10860: Life-Cycle Asset Accumulation and Allocation in Canada

Kevin Milligan

10859: Poverty, Political Freedom, and the Roots of Terrorism

Alberto Abadie

10858: The Economics of Corporate Tax Selfishness

Joel Slemrod

10857: Re-Assessing the U.S. Quality Adjustment to Computer Prices: The Role of Durability and Changing Software

Robert Feenstra and Christopher Knittel

10856: Microstructure of the Yen/Dollar Foreign Exchange Market: Patterns of Intra-day Activity Revealed in the Electronic Broking System

Takatoshi Ito and Yuko Hashimoto

10855: Oil and the Macroeconomy Since the 1970s

Robert Barsky and Lutz Kilian

10854: Economic Growth and the Environment: A Review of Theory and Empirics

William Brock and M. Scott Taylor

10853: The US Gender Pay Gap in the 1990s: Slowing Convergence

Francine Blau and Lawrence Kahn

10852: The Cross-Section of Volatility and Expected Returns

Andrew Ang, Robert Hodrick, Yuhang Xing and Xiaoyan Zhang

10851: The Impact of Population Aging on Financial Markets

James Poterba

10850: Do Stock Prices Really Reflect Fundamental Values? The Case of REITs

William Gentry, Charles Jones and Christopher Mayer

10849: Globalization, Macroeconomic Performance, and the Exchange Rates of Emerging Economies

Maurice Obstfeld

10848: The Elusive Welfare Economics of Price Stability as a Monetary Policy Objective: Should New Keynesian Central Bankers Pursue Price Stability?

Willem Buiter

10847: Charles Kindleberger

Edward Kane

10846: Quantitative Goals for Monetary Policy

Antonio Fatas, Ilian Mihov and Andrew Rose

10845: Dollar Shortages and Crises

Raghuram Rajan

10844: Does Immigration Affect the Long-Term Educational Outcomes of Natives? Quasi-Experimental Evidence

Eric Gould, Victor Lavy and M. Daniele Paserman

10843: External Adjustment

Maurice Obstfeld

10842: The Measurement and Evolution of Health Inequality: Evidence from the U.S. Medicare Population

Jonathan Skinner and Weiping Zhou

10841: Dividend Taxes and Corporate Behavior: Evidence from the 2003 Dividend Tax Cut

Raj Chetty and Emmanuel Saez

10840: Optimal Monetary and Fiscal Policy in a Liquidity Trap

Gauti Eggertsson and Michael Woodford

10839: Optimal Stabilization Policy When Wages and Prices are Sticky: The Case of a Distorted Steady State

Pierpaolo Benigno and Michael Woodford

10838: Inflation Stabilization and Welfare: The Case of a Distorted Steady State

Pierpaolo Benigno and Michael Woodford

10837: Job Search and Impatience

Stefano DellaVigna and M. Daniele Paserman

10836: Trade, Tragedy, and the Commons

Brian Copeland and M. Scott Taylor

10835: Strategic Extremism: Why Republicans and Democrats Divide on Religious Values

Edward Glaeser, Giacomo Ponzetto and Jesse Shapiro

10834: Keeping Capital Flowing: The Role of the IMF

Michael Bordo, Ashoka Mody and Nienke Oomes

10833: Deflation and Monetary Policy in a Historical Perspective: Remembering the Past or Being Condemned to Repeat It?

Michael Bordo and Andrew Filardo

10832: Finance as a Barrier to Entry: Bank Competition and Industry Structure in Local U.S. Markets

Nicola Cetorelli and Philip E. Strahan

10831: Why Do Computers Depreciate?

Michael J. Geske, Valerie Ramey and Matthew Shapiro

10830: Export Variety and Country Productivity

Robert Feenstra and Hiau Looi Kee

10829: Can Central Bank Transparency Go Too Far?

Frederic Mishkin

10828: Accounting for Cross-Country Income Differences

Francesco Caselli

10827: Monetary Policy and the Currency Denomination of Debt: A Tale of Two Equilibria

Andres Velasco and Roberto Chang

10826: Reciprocated Unilateralism in Trade Reforms with Majority Voting

Pravin Krishna and Devashish Mitra