NBER Working Papers

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9439: Export versus FDI

Elhanan Helpman, Marc Melitz and Stephen Yeaple

9438: Is Japan's Innovative Capacity in Decline?

Lee Branstetter and Yoshiaki Nakamura

9437: Hi-tech Innovation and Productivity Growth: Does Supply Create Its Own Demand?

Robert Gordon

9436: Mismeasurement of the CPI

Kenn Ariga and Kenji Matsui

9435: Economic Effects of Currency Unions

Silvana Tenreyro and Robert Barro

9434: The Price Impact and Survival of Irrational Traders

Leonid Kogan, Stephen Ross, Jiang Wang and Mark Westerfield

9433: How is Macro News Transmitted to Exchange Rates?

Martin Evans and Richard Lyons

9432: Corporate Investment with Financial Constraints: Sensitivity of Investment to Funds from Voluntary Asset Sales

Gayane Hovakimian and Sheridan Titman

9431: R&D and the Patent Premium

Ashish Arora, Marco Ceccagnoli and Wesley M. Cohen

9430: Optimal Policy with Partial Information in a Forward-Looking Model: Certainty-Equivalence Redux

Lars Svensson and Michael Woodford

9429: Work Costs and Nonconvex Preferences in the Estimation of Labor Supply Models

Bradley Heim and Bruce Meyer

9428: Cut to the Bone? Hospital Takeovers and Nurse Employment Contracts

Janet Currie, Mehdi Farsi and W. Bentley Macleod

9427: Capital Account Liberalization and Growth: Was Mr. Mahathir Right?

Barry Eichengreen and David Leblang

9426: An Information-Based Trade Off Between Foreign Direct Investment and Foreign Portfolio Investment: Volatility, Transparency, and Welfare

Itay Goldstein and Assaf Razin

9425: The Costs of Wrongful-Discharge Laws

David Autor, John Donohue and Stewart J. Schwab

9424: An Alternative Interpretation of the 'Resource Curse': Theory and Policy Implications

Ricardo Hausmann and Roberto Rigobon

9423: Limited Arbitrage and Short Sales Restrictions: Evidence from the Options Markets

Eli Ofek, Matthew Richardson and Robert F. Whitelaw

9422: How Do Markets Function? An Empirical Analysis of Gambling on the National Football League

Steven Levitt

9421: What is Wrong with Taylor Rules? Using Judgment in Monetary Policy through Targeting Rules

Lars Svensson

9420: Optimal Interest-Rate Rules: II. Applications

Marc Giannoni and Michael Woodford

9419: Optimal Interest-Rate Rules: I. General Theory

Marc Giannoni and Michael Woodford

9418: Another Look at the New York City School Voucher Experiment

Alan Krueger and Pei Zhu

9417: Foreign Firms and Indonesian Manufacturing Wages: An Analysis With Panel Data

Robert Lipsey and Fredrik Sjöholm

9416: Oligopoly Deregulation in General Equilibrium: A Tax Neutralization Result

Gilbert Metcalf and George Norman

9415: Oligopoly Deregulation and the Taxation of Commodities

Gilbert Metcalf and George Norman

9414: Catching Cheating Teachers: The Results of an Unusual Experiment in Implementing Theory

Brian A. Jacob and Steven Levitt

9413: Rotten Apples: An Investigation of the Prevalence and Predictors of Teacher Cheating

Brian A. Jacob and Steven Levitt

9412: Trading with the Unborn: A New Perspective on Capital Income Taxation

Kent Smetters

9411: Fractionalization

Alberto Alesina, Arnaud Devleeschauwer, William Easterly, Sergio Kurlat and Romain Wacziarg

9410: Pareto Improving Social Security Reform when Financial Markets are Incomplete?

Dirk Krueger and Felix Kubler

9409: Why Is There So Little Money in Politics?

Stephen Ansolabehere, John M. de Figueiredo and James Snyder

9408: Skill-specific rather then General Education: A Reason for US-Europe Growth Differences?

Dirk Krueger and Krishna Kumar

9407: Social Security Programs and Retirement Around the World: Micro Estimation

Jonathan Gruber and David Wise

9406: Welfare Reform and Non-Marital Fertility in the 1990s: Evidence from Birth Records

Ted Joyce, Robert Kaestner and Sanders Korenman

9405: The Effect of the State Children's Health Insurance Program on Health Insurance Coverage

Anthony LoSasso and Thomas Buchmueller

9404: Retirement and the Stock Market Bubble

Alan Gustman and Thomas L. Steinmeier

9403: Managerial Incentives and the International Organization of Production

Elhanan Helpman and Gene Grossman

9402: Optimal Monetary Policy

Aubhik Khan, Robert King and Alexander Wolman

9401: Closed Jaguar, Open Dragon: Comparing Tariffs in Latin America and Asia before World War II

Michael Clemens and Jeffrey Williamson

9400: The Consequences of Merit Aid

Susan Dynarski

9399: Welfare Reform and Changes in the Economic Well-Being of Children

Neil G. Bennett, Hsien-Hen Lu and Younghwan Song

9398: Exchange Rate, Equity Prices and Capital Flows

Harald Hau and Helene Rey

9397: Volatility, employment and the patterns of FDI in emerging markets

Joshua Aizenman

9396: Changes in the Value of Life: 1940-1980

Dora Costa and Matthew Kahn

9395: Changes over time in union relative wage effects in the UK and the US revisited

David Blanchflower and Alex Bryson

9394: Health Insurance and Households' Precautionary Behaviors - An Unusual Natural Experiment

Shin-Yi Chou, Jin-Tan Liu and James Hammitt

9393: Empirical Exchange Rate Models of the Nineties: Are Any Fit to Survive?

Yin-Wong Cheung, Menzie Chinn and Antonio Garcia Pascual

9392: Mutual Fund Performance with Learning Across Funds

Christopher Jones and Jay Shanken

9391: Exchange Rate Dynamics, Learning and Misperception

Pierre-Olivier Gourinchas and Aaron Tornell

9390: Endogenous Money or Sticky Prices?

Peter Ireland

9389: The Effect of High School Matriculation Awards: Evidence from Randomized Trials

Joshua Angrist and Victor Lavy

9388: How Well Do Banks Manage Their Reserves?

Eduardo Jallath-Coria, Tridas Mukhopadhyay and Amir Yaron

9387: U.S. Imports, Exports, and Tariff Data, 1989-2001

Robert Feenstra, John Romalis and Peter Schott

9386: An International Perspective of Japan's Corporate Groups and their Prospects

Yishay Yafeh

9385: Paying for the FILP

Takero Doi and Takeo Hoshi

9384: Sorting Out Japan's Financial Crisis

Anil Kashyap

9383: Interpretable Asset Markets?

Ravi Bansal, Varoujan Khatachtrian and Amir Yaron

9382: Consumption over the Life Cycle: Facts from Consumer Expenditure Survey Data

Jesus Fernandez-Villaverde and Dirk Krueger

9381: Speculative Growth

Ricardo Caballero and Mohamad L. Hammour

9380: Does the Evidence Favor State Competition in Corporate Law?

Lucian Bebchuk, Alma Cohen and Allen Ferrell

9379: Law and Finance: Why Does Legal Origin Matter?

Thorsten Beck, Asli Demirguc-Kunt and Ross Levine

9378: The Rise of Europe: Atlantic Trade, Institutional Change and Economic Growth

Daron Acemoglu, Simon Johnson and James Robinson

9377: Why Not a Political Coase Theorem? Social Conflict, Commitment and Politics

Daron Acemoglu

9376: High Frequency Contagion of Currency Crises in Asia

Takatoshi Ito and Yuko Hashimoto

9375: What Measure of Inflation Should a Central Bank Target?

N. Gregory Mankiw and Ricardo Reis

9374: Capital Tax Incidence: First Impressions from the Time Series

Casey Mulligan

9373: Capital, Interest, and Aggregate Intertemporal Substitution

Casey Mulligan

9372: PPP Strikes Back: Aggregation and the Real Exchange Rate

Jean Imbs, Haroon Mumtaz, Morten Ravn and Helene Rey

9371: Corporate Governance and Control

Patrick Bolton, Marco Becht and Alisa Röell

9370: Time Consistency and Free-Riding in a Monetary Union

Varadarajan Chari and Patrick Kehoe

9369: Debt Relief: What Do the Markets Think?

Serkan Arslanalp and Peter Henry

9368: Financial Sector Profitability and Double-Gearing

Mitsuhiro Fukao

9367: The Deteriorating Fiscal Situation and an Aging Population

Robert Dekle

9366: Human Capital and Earnings Distribution Dynamics

Mark Hugget, Gustavo Ventura and Amir Yaron

9365: Asset Pricing Implications of Firms' Financing Constraints

João Gomes, Amir Yaron and Lu Zhang

9364: Asset Prices and Business Cycles with Costly External Finance

João Gomes, Amir Yaron and Lu Zhang

9363: The Scope of Open Source Licensing

Josh Lerner and Jean Tirole

9362: Explaining the Flood of Asbestos Litigation: Consolidation, Bifurcation, and Bouquet Trials

Michelle White

9361: The Economic Consequences of a War in Iraq

William Nordhaus

9360: Mother's Education and the Intergenerational Transmission of Human Capital: Evidence from College Openings and Longitudinal Data

Janet Currie and Enrico Moretti

9359: Judging Fund Managers by the Company They Keep

Randolph Cohen, Joshua Coval and Lubos Pastor

9358: An Evaluation of Instrumental Variable Strategies for Estimating the Effects of Catholic Schools

Joseph Altonji, Todd Elder and Christopher R. Taber

9357: Deaths Rise in Good Economic Times: Evidence From the OECD

Ulf-G. Gerdtham and Christopher Ruhm

9356: Paycheck Receipt and the Timing of Consumption

Melvin Stephens

9355: The Credit Channel in Middle Income Countries

Aaron Tornell and Frank Westermann

9354: Educational Vouchers and Cream Skimming

Dennis Epple and Richard Romano

9353: Debt Policy, Corporate Taxes, and Discount Rates

Mark Grinblatt and Jun Liu

9352: Why Do Consumer Prices React less than Import Prices to Exchange Rates?

Philippe Bacchetta and Eric van Wincoop

9351: Pharmaceutical-embodied technical progress, longevity, and quality of life: drugs as "equipment for your health"

Frank Lichtenberg and Suchin Virabhak

9350: Determinants of Drug Injection Behavior: Economic Factors, HIV Injection Risk and Needle Exchange Programs

Jeffrey DeSimone

9349: Temporary Shocks and Unavoidable Transistions to a High-Unemployment Regime

Wouter Denhaan

9348: One Simple Test of Samuelson's Dictum for the Stock Market

Jeeman Jung and Robert Shiller

9347: Do WTO Members have More Liberal Trade Policy?

Andrew Rose

9346: The Link Between Public and Private Insurance and HIV-Related Mortality

Jay Bhattacharya, Dana Goldman and Neeraj Sood

9345: Sovereign Risk, Credibility and the Gold Standard: 1870-1913 versus 1925-31

Maurice Obstfeld and Alan Taylor

9344: Pricing the Global Industry Portfolios

Stefano Cavaglia, Robert Hodrick, Moroz Vadim and Xiaoyan Zhang

9343: Cross-Border Trading as a Mechanism for Capital Flight: ADRs and the Argentine Crisis

Sebastian Auguste, Kathryn Dominguez, Herman Kamil and Linda Tesar

9342: Why Measure Inequality?

Louis Kaplow

9341: The Own-Price of Money and a New Channel of Monetary Transmission

Michael Belongia and Peter Ireland

9340: Personal Bankruptcy and the Level of Entrepreneurial Activity

Wei Fan and Michelle White