NBER Working Papers

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9560: Regulation and Investment

Alberto Alesina, Silvia Ardagna, Giuseppe Nicoletti and Fabio Schiantarelli

9559: Implicit Contracts, the Great Depression, and Institutional Change: A Comparative Analysis of U.S. and Japanese Employment Relations, 1920-1940

Chiaki Moriguchi

9558: Backward-Looking Interest-Rate Rules, Interest-Rate Smoothing, and Macroeconomic Instability

Jess Behabib, Stephanie Schmitt-Grohe and Martín Uribe

9557: Inflation Inertia and Credible Disinflation - The Open Economy Case

Guillermo Calvo, Oya Celasun and Michael Kumhof

9556: Pension Reform and Economic Performance in Britain in the 1980s and 1990s

Richard Disney, Carl Emmerson and Sarah Smith

9555: A Decomposition of Global Linkages in Financial Markets Over Time

Kristin Forbes and Menzie Chinn

9554: Exploring the Health-Wealth Nexus

Jonathan Meer, Douglas Miller and Harvey Rosen

9553: The Impact of Federal Tax Credits for Higher Education Expenses

Bridget Long

9552: Putting 'M' back in Monetary Policy

Eric Leeper and Jennifer E. Roush

9551: Why Does Financial Development Matter? The United States from 1900 to 1940

Rajeev Dehejia and Adriana Lleras-Muney

9550: Labor Market Status of Older Males in the United States, 1880-1940

Chulhee Lee

9549: Lead Water Pipes and Infant Mortality in Turn-of-the-Century Massachusetts

Werner Troesken

9548: Consumption Risk and Expected Stock Returns

Jonathan Parker

9547: Strategic Asset Allocation in a Continuous-Time VAR Model

John Campbell, George Chacko, Jorge Rodriguez and Luis M. Viciera

9546: Estimating Distributions of Treatment Effects with an Application to the Returns to Schooling and Measurement of the Effects of Uncertainty on College

Pedro Carneiro, Karsten T. Hansen and James Heckman

9545: Does Teacher Testing Raise Teacher Quality? Evidence from State Certification Requirements

Joshua Angrist and Jonathan Guryan

9544: Analysts' Conflict of Interest and Biases in Earnings Forecasts

Louis K. C. Chan, Jason Karceski and Josef Lakonishok

9543: Endogenous Exchange Rate Pass-through when Nominal Prices are Set in Advance

Michael Devereux, Charles Engel and Peter E. Storgaard

9542: A Catering Theory of Dividends

Malcolm Baker and Jeffrey Wurgler

9541: Does Insider Trading Raise Market Volatility?

Julan Du and Shang-Jin Wei

9540: The Reallocation of Compensation in Response to Health Insurance Premium Increases

Dana Goldman, Neeraj Sood and Arleen Leibowitz

9539: The Life Cycles of Modern Artists: Theory, Measurement, and Implications

David Galenson

9538: Consumption Risk and Cross-Sectional Returns

Jonathan Parker and Christian Julliard

9537: The Effect of the Payroll Tax on Earnings: A Test of Competing Models of Wage Determination

Kevin Lang

9536: The Cyclical Behavior of Equilibrium Unemployment and Vacancies: Evidence and Theory

Robert Shimer

9535: A New Summary Measure of the Effective Tax Rate on Investment

Roger Gordon, Laura Kalambokidis and Joel Slemrod

9534: Merchant Transmission Investment

Paul Joskow and Jean Tirole

9533: International agreements on product standard: an incomplete contracting theory

Pierpaolo Battigalli and Giovanni Maggi

9532: Further Evidence that Legalized Abortion Lowered Crime: A Reply to Joyce

John Donohue and Steven Levitt

9531: Freight Rates and Productivity Gains in British Tramp Shipping 1869-1950

Saif I. Shah Mohammed and Jeffrey Williamson

9530: Why is Productivity Growing Faster?

Martin Feldstein

9529: Price Discovery in the U.S. Treasury Market: The Impact of Orderflow and Liquidity on the Yield Curve

Michael W. Brandt and Kenneth A. Kavajecz

9528: Knife Edge of Plateau: When Do Market Models Tip?

Glenn Ellison and Drew Fudenberg

9527: CEO Turnover and Foreign Market Participation

Bruce Blonigen and Rossitza Wooster

9526: Measuring Capital

Walter Diewert

9525: The Equity Premium in Retrospect

Rajnish Mehra and Edward Prescott

9524: Strikes, Scabs and Tread Separations: Labor Strife and the Production of Defective Bridgestone/Firestone Tires

Alan Krueger and Alexandre Mas

9523: Do shareholders of acquiring firms gain from acquisitions?

Sara B. Moeller, Frederik Schlingemann and René Stulz

9522: Deflation, Silent Runs, and Bank Holidays, in the Great Contraction

Hugh Rockoff

9521: Doomed to Deficits? Aggregate U.S. Trade Flows Re-Examined

Menzie Chinn

9520: Is Deflation depressing? Evidence from the Classical Gold Standard

Michael Bordo and Angela Redish

9519: What Can Be Learned from Skeletons that Might Interest Economists, Historians and Other Social Scientists?

Richard Steckel

9518: Time in Purgatory: Determinants of the Grant Lag for U.S. Patent Applications

David Popp, Ted Juhl and Daniel Johnson

9517: Export-Platform Foreign Direct Investment

Karolina Ekholm, Rikard Forslid and James Markusen

9516: Resident and Nonresident Tuition and Enrollment at Flagship State Universities

Michael J. Rizzo and Ronald Ehrenberg

9515: Do Asset Prices Reflect Fundamentals? Freshly Squeezed Evidence from the OJ Market

Jacob Boudoukh, Matthew Richardson, YuQing Shen and Robert F. Whitelaw

9514: A Currency of One's Own? An Empirical Investigation on Dollarization and Independent Currency Unions

Sebastian Edwards and Igal Magendzo

9513: Geography and Racial Health Disparities

Amitabh Chandra and Jonathan Skinner

9512: The Equity Premium: Why is it a Puzzle?

Rajnish Mehra

9511: International Price-Fixing Cartels and Developing Countries: A Discussion of Effects and Policy Remedies

Margaret Levenstein, Valerie Suslow and Lynda Oswald

9510: Market Integration and Contagion

Geert Bekaert and Campbell Harvey

9509: Bad Beta, Good Beta

John Campbell and Tuomo Vuolteenaho

9508: Job Loss Expectations, Realizations, and Household Consumption Behavior

Melvin Stephens

9507: Who Shall Live and Who Shall Die? An Analysis of Prisoners on Death Row in the United States

Laura Argys and Naci Mocan

9506: Fiscal Policy and Inflation: Pondering the Imponderables

Eric Leeper

9505: Education Saving Incentives and Household Saving: Evidence from the 2000 TIAA-CREF Survey of Participant Finances

Jennifer Ma

9504: Multinational Enterprises, International Trade, and Productivity Growth: Firm-Level Evidence from the United States

Wolfgang Keller and Stephen Yeaple

9503: Taxation of Interest Income

Roger Gordon

9502: Fairness and Redistribution: U.S. versus Europe

Alberto Alesina and George-Marios Angeletos

9501: Peer Effects in Higher Education

Gordon Winston and David Zimmerman

9500: Capital Account Openness and the Varieties of Growth Experience

Michael Klein

9499: Disposition Matters: Volume, Volatility and Price Impact of a Behavioral Bias

William Goetzmann and Massimo Massa

9498: Can Information Heterogeneity Explain the Exchange Rate Determination Puzzle?

Eric van Wincoop and Philippe Bacchetta

9497: Using Matching, Instrumental Variables and Control Functions to Estimate Economic Choice Models

James Heckman and Salvador Navarro

9496: Retirement Incentives and Couples' Retirement Decisions

Courtney Coile

9495: Human Capital Policy

James Heckman and Pedro Carneiro

9494: Micro-Simulation of Social Security Reforms in Belgium

Raphael Desmet, Alain Jousten, Sergio Perelman and Pierre Pestieau

9493: Will the Sovereign Debt Market Survive?

Andrei Shleifer

9492: Consumption Taxes and Economic Efficiency in a Stochastic OLG Economy

Shinichi Nishiyama and Kent Smetters

9491: Monetary Policy for Inattentive Economies

Laurence Ball, N. Gregory Mankiw and Ricardo Reis

9490: Institutions Don't Rule: Direct Effects of Geography on Per Capita Income

Jeffrey D. Sachs

9489: The Economics of Foreign Direct Investment Incentives

Magnus Blomstrom and Ari Kokko

9488: Capital Account Liberalization, The Cost of Capital, and Economic Growth

Peter Henry

9487: The Value of a Statistical Life: A Critical Review of Market Estimates throughout the World

W Viscusi and Joseph Aldy

9486: Monetary Policy and Real Stabilization

Lars Svensson

9485: Border Delays and Trade Liberalization

Edgar Cudmore and John Whalley

9484: Constraints on the Level and Efficient Use of Labor in Japan

Hiroshi Ono and Marcus Rebick

9483: Economic Analysis of Accident Law

Steven Shavell

9482: Do and Should Financial Aid Packages Affect Students' College Choices?

Christopher Avery and Caroline Hoxby

9481: Equity market liberalizations as country IPOs

Rodolfo Martell and René Stulz

9480: Individual Subjective Survival Curves

Li Gan, Michael Hurd and Daniel McFadden

9479: The Center and the Periphery: The Globalization of Financial Turmoil

Graciela Kaminsky and Carmen Reinhart

9478: The Emergence of Strong Property Rights: Speculation from history

Raghuram Rajan and Luigi Zingales

9477: Do We Now Collect Any Revenue From Taxing Capital Income?

Roger Gordon, Laura Kalambokidis and Joel Slemrod

9476: Is the Convergence of the Racial Wage Gap Illusory?

Amitabh Chandra

9475: An Equilibrium Analysis of Real Estate

Steven R. Grenadier

9474: Individual Perceptions of the Criminal Justice System

Lance Lochner

9473: Unionization and Wage Inequality: A Comparative Study of the U.S, the U.K., and Canada

David Card, Thomas Lemieux and W. Craig Riddell

9472: Welfare Transitions in the 1990s: The Economy, Welfare Policy, and the EITC

Jeffrey Grogger

9471: Competition Among Hospitals

Martin Gaynor and William Vogt

9470: Investor Sentiment in Japanese and U.S. Daily Mutual Fund Flows

Stephen Brown, William Goetzmann, Takato Hiraki, Noriyoshi Shirishi and Masahiro Watanabe

9469: Modeling and Measuring Russian Corporate Governance: The Case of Russian Preferred and Common Shares

William Goetzmann, Matthew Spiegel and Andrey Ukhov

9468: Healthy Living in Hard Times

Christopher Ruhm

9467: The collapse of a medical clearinghouse (and why such failures are rare)

C. Nicholas McKinney, Muriel Niederle and Alvin Roth

9466: Efficiency and the Bear: Short Sales and Markets around the World

William Goetzmann, Ning Zhu and Arturo Bris

9465: Rain or Shine: Where is the Weather Effect?

William Goetzmann and Ning Zhu

9464: Fees on Fees in Funds of Funds

Stephen Brown, William Goetzmann and Bing Liang

9463: Universities, Joint Ventures, and Success in the Advanced Technology Program

Michael Darby, Lynne Zucker and Andrew Wang

9462: Owner-Occupied Housing as a Hedge Against Rent Risk

Todd Sinai and Nicholas Souleles

9461: Diversification and the Optimal Construction of Basis Portfolios

Bruce N. Lehmann and David M. Modest