NBER Working Papers

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10480: Trade Costs

James Anderson and Eric van Wincoop

10479: Bank Chartering and Political Corruption in Antebellum New York: Free Banking as Reform

Howard Bodenhorn

10478: Education, Work, and Crime: A Human Capital Approach

Lance Lochner

10477: How Confident Can We Be in CGE-Based Assessments of Free Trade Agreements?

Thomas Hertel, David Hummels, Maros Ivanic and Roman Keeney

10476: Can Portfolio Rebalancing Explain the Dynamics of Equity Returns, Equity Flows, and Exchange Rates?

Harald Hau and Helene Rey

10475: Bank Supervision, Regulation, and Instability During the Great Depression

Kris James Mitchener

10474: R&D Sourcing, Joint Ventures and Innovation: A Multiple Indicators Approach

James Adams and Mircea Marcu

10473: Retail Electricity Competition

Paul Joskow and Jean Tirole

10472: Reliability and Competitive Electricity Markets

Paul Joskow and Jean Tirole

10471: Corporate Tax Avoidance and High Powered Incentives

Mihir A. Desai and Dhammika Dharmapala

10470: Who Benefits from the Education Saving Incentives? Income, Educational Expectations, and the Value of the 529 and Coverdell

Susan Dynarski

10469: Earnings Inequality and the Business Cycle

Gadi Barlevy and Daniel Tsiddon

10468: Soft Information, Hard Sell: The Role of Soft Information in the Pricing of Intellectual Property

William Goetzmann, Vicente Pons-Sanz and S. Abraham Ravid

10467: Specialization and Regulation: The Rise of Professionals and the Emergence of Occupational Licensing Regulation

Marc Law and Sukkoo Kim

10466: Social Security and the Evolution of Elderly Poverty

Gary V. Engelhardt and Jonathan Gruber

10465: Factor Substitution and Unobserved Factor Quality in Nursing Homes

John Cawley, David C. Grabowski and Richard A. Hirth

10464: Death Spiral or Euthanasia? The Demise of Generous Group Health Insurance Coverage

Mark V. Pauly, Olivia Mitchell and Yuhui Zeng

10463: A Simple Model of Optimal Hate Crime Legislation

Li Gan, Roberton Williams and Thomas Wiseman

10462: A Test for Anchoring and Yea-Saying in Experimental Consumption Data

Arthur van Soest and Michael Hurd

10461: Models for Anchoring and Acquiescence Bias in Consumption Data

Arthur van Soest and Michael Hurd

10460: What Determines Corruption? International Evidence from Micro Data

Naci Mocan

10459: Child Care Subsidy Receipt, Employment, and Child Care Choices of Single Mothers

Erdal Tekin

10458: A Model of Housing in the Presence of Adjustment Costs: A Structural Interpretation of Habit Persistence

Marjorie Flavin and Shinobu Nakagawa

10457: The Shape of Production Function and the Direction of Technical Change

Charles Jones

10456: What Prompts Japan to Intervene in the Forex Market? A New Approach to a Reaction Function

Takatoshi Ito and Tomoyoshi Yabu

10455: On the Efficacy of Reforms: Policy Tinkering, Institutional Change, and Entrepreneurship

Murat Iyigun and Dani Rodrik

10454: Consumption-Wealth Comovement of the Wrong Sign

James Choi, David Laibson, Brigitte Madrian and Andrew Metrick

10453: R-Squared Around the World: New Theory and New Tests

Li Jin and Stewart C. Myers

10452: Does Prekindergarten Improve School Preparation and Performance?

Katherine A. Magnuson, Christopher Ruhm and Jane Waldfogel

10451: Constitutions, Corporations, and Corruption: American States and Constitutional Change

John Joseph Wallis

10450: Estimating Dynamic Models of Imperfect Competition

Patrick Bajari, C. Lanier Benkard and Jonathan Levin

10449: Investor Sentiment and the Cross-Section of Stock Returns

Malcolm Baker and Jeffrey Wurgler

10448: High-Frequency Contagion Between the Exchange Rates and Stock Prices

Yuko Hashimoto and Takatoshi Ito

10447: A Jackknife Estimator for Tracking Error Variance of Optimal Portfolios Constructed Using Estimated Inputs1

Gopal K. Basak, Ravi Jagannathan and Tongshu Ma

10446: Investment, Capacity, and Uncertainty: A Putty-Clay Approach

Simon Gilchrist and John Williams

10445: Access to Care, Provider Choice and Racial Disparities

Anna Aizer, Adriana Lleras-Muney and Mark Stabile

10444: Social Security and Trust Fund Management

Takashi Oshio

10443: The Optimal Design of Unemployment Insurance and Employment Protection. A First Pass

Olivier Blanchard and Jean Tirole

10442: Factor Prices and Factor Substitution in U.S. Firms' Manufacturing Affiliates Abroad

Maria Borga and Robert Lipsey

10441: Financial-Sector FDI and Host Countries: New and Old Lessons

Linda Goldberg

10440: Fiscal Shenanigans, Targeted Federal Health Care Funds, and Patient Mortality

Katherine Baicker and Doug Staiger

10439: Political Pressure Deflection

James Anderson and Maurizio Zanardi

10438: Which Countries Have State Religions?

Robert Barro and Rachel M. McCleary

10437: Managed Care Discounting: Evidence from the MarketScan Database

Avi Dor, Siran M. Koroukian and Michael Grossman

10436: Information Diffusion Effects in Individual Investors' Common Stock Purchases: Covet Thy Neighbors' Investment Choices

Zoran Ivkovich and Scott Weisbenner

10435: Child Mental Health and Human Capital Accumulation: The Case of ADHD

Janet Currie and Mark Stabile

10434: Short Interest and Stock Returns

Paul Asquith, Parag Pathak and Jay R. Ritter

10433: Schumpeterian Profits in the American Economy: Theory and Measurement

William Nordhaus

10432: Hierarchies, Specialization, and the Utilization of Knowledge: Theory and Evidence from the Legal Services Industry

Luis Garicano and Thomas N. Hubbard

10431: The Yield Curve, Recessions and the Credibility of the Monetary Regime: Long Run Evidence 1875-1997

Michael Bordo and Joseph Haubrich

10430: Fiscal Policy in the Aftermath of 9/11

Martin Eichenbaum and Jonas Fisher

10429: Competition in Imperfect Markets: Does it Help California's Medicaid Mothers?

Anna Aizer, Janet Currie and Enrico Moretti

10428: Quantile Regression under Misspecification, with an Application to the U.S. Wage Structure

Joshua Angrist, Victor Chernozhukov and Ivan Fernandez-Val

10427: Hedonic Price Indexes for Personal Computer Operating Systems and Productivity Suites

Alan White, Jaison Abel, Ernst R. Berndt and Cory W. Monroe

10426: International Trade and Cultural Identity

Eckhard Janeba

10425: Shame and Ostracism: Union Army Deserters Leave Home

Dora Costa and Matthew Kahn

10424: How Much is Post-Acute Care Use Affected by Its Availability?

Melinda Buntin, Anita Datar Garten, Susan Paddock, Debra Saliba, Mark Totten and Jose J. Escarce

10423: The Nobel Memorial Prize for Robert F. Engle

Francis Diebold

10422: Optimal Recursive Refinancing and the Valuation of Mortgage-Backed Securities

Francis Longstaff

10421: Employee Stock Purchase Plans

Gary V. Engelhardt and Brigitte Madrian

10420: Backward Stealing and Forward Manipulation in the WTO

Kyle Bagwell and Robert Staiger

10419: 401(k) Matching Contributions in Company Stock: Costs and Benefits for Firms and Workers

Jeffrey Brown, Nellie Liang and Scott Weisbenner

10418: Corporate Yield Spreads: Default Risk or Liquidity? New Evidence from the Credit-Default Swap Market

Francis Longstaff, Sanjay Mithal and Eric Neis

10417: Legal Institutions and Financial Development

Thorsten Beck and Ross Levine

10416: Benefits and Spillovers of Greater Competition in Europe: A Macroeconomic Assesment

Tamim Bayoumi, Douglas Laxton and Paolo Pesenti

10415: Phased-In Tax Cuts and Economic Activity

Christopher House and Matthew Shapiro

10414: Home Care Reimbursement, Long-term Care Utilization, and Health Outcomes

Robin McKnight

10413: Conditional Betas

Tano Santos and Pietro Veronesi

10412: A Rational Model of the Closed-End Fund Discount

Jonathan Berk and Richard Stanton

10411: Financial Claustrophobia: Asset Pricing in Illiquid Markets

Francis Longstaff

10410: Heterogeneous Investors and their Changing Demand and Supply Schedules for Individual Common Stocks

Jung-Wook Kim, Jason Lee and Randall Morck

10409: Asymmetric Social Interaction in Economics: Cigarette Smoking Among Young People in the United States, 1992-1999

Jeffrey E. Harris and Beatriz Lopez-Valcarcel

10408: Does the Market Value R&D Investment by European Firms? Evidence from a Panel of Manufacturing Firms in France, Germany, and Italy

Bronwyn Hall and Raffaele Oriani

10407: On the Undesirability of Commodity Taxation Even When Income Taxation is Not Optimal

Louis Kaplow

10406: New Forecasts of the Equity Premium

Christopher Polk, Samuel Thompson and Tuomo Vuolteenaho

10405: Mergers and the Composition of International Commerce

Volker Nocke and Stephen Yeaple

10404: Timeliness, Trade and Agglomeration

James Harrigan and Anthony Venables

10403: Incentives in Corporations: Evidence from the American Whaling Industry

Eric Hilt

10402: What Explains the Stock Market's Reaction to Federal Reserve Policy?

Ben Bernanke and Kenneth Kuttner

10401: Estimating the Value of a Statistical Life: The Importance of Omitted Variables and Publication Bias

Orley Ashenfelter and Michael Greenstone

10400: The Institutions of Monetary Policy

Mervyn King

10399: Top Wealth Shares in the United States: 1916-2000: Evidence from Estate Tax Returns

Wojciech Kopczuk and Emmanuel Saez

10398: Microeconomic Flexibility in Latin America

Ricardo J. Caballlero, Eduardo Engel and Alejandro Micco

10397: Agreeing Now to Agree Later: Contracts that Rule Out but do not Rule In

Oliver Hart and John Moore

10396: The Trilemma in History: Tradeoffs among Exchange Rates, Monetary Policies, and Capital Mobility

Maurice Obstfeld, Jay Shambaugh and Alan Taylor

10395: Valuing Assets in Retirement Saving Accounts

James Poterba

10394: Public Debt Management in Brazil

Francesco Giavazzi and Alessandro Missale

10393: Monetary Sovereignty, Exchange Rates, and Capital Controls: The Trilemma in the Interwar period

Maurice Obstfeld, Jay Shambaugh and Alan Taylor

10392: Rule-of-Thumb Consumers and the Design of Interest Rate Rules

Jordi Galí, David Lopez-Salido and Javier Valles

10391: Transparency of Information and Coordination in Economies with Investment Complementarities

George-Marios Angeletos and Alessandro Pavan

10390: Inflation Targeting and Debt: Lessons from Brazil

Carlo Favero and Francesco Giavazzi

10389: Fiscal Dominance and Inflation Targeting: Lessons from Brazil

Olivier Blanchard

10388: An Empirical Analysis of the Economic Impact of Federal Terrorism Reinsurance

Jeffrey Brown, John Cummins, Christopher M. Lewis and Ran Wei

10387: Business Cycles in Emerging Economies: The Role of Interest Rates

Pablo Neumeyer and Fabrizio Perri

10386: Consumer Demand for Health Information on the Internet

M. Kate Bundorf, Laurence Baker, Sara Singer and Todd Wagner

10385: Legislative Representation, Bargaining Power, and the Distribution of Federal Funds: Evidence from the U.S. Senate

Brian Knight

10384: Tracking the Source of the Decline in GDP Volatility: An Analysis of the Automobile Industry

Valerie Ramey and Daniel J. Vine

10383: Nominal Wage Rigidities in Mexico: Evidence from Social Security Records

Sara Castellanos, Rodrigo Garcia-Verdu and David Kaplan

10382: Employer-Sponsored Disability Insurance: Where are the Gaps in Coverage?

Helen Levy

10381: Mortality Risk and Educational Attainment of Black and White Men

Li Gan and Guan Gong