NBER Working Papers

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8709: Do Low-Income Housing Subsidies Increase Housing Consumption?

Todd Sinai and Joel Waldfogel

8708: Entrepreneurship in International Trade

James Rauch and Joel Watson

8707: How Migration Restrictions Limit Agglomeration and Productivity in China

Chun-Chung Au and Vernon Henderson

8706: Disinflation and Fiscal Reform: A Neoclassical Perspective

Roberto Rigobon

8705: When Do Firms Shift Production Across States to Avoid Environmental Regulation?

Wayne Gray and Ron Shadbegian

8704: International Protection of Intellectual Property

Gene Grossman and Edwin Lai

8703: Optimal Defaults for Corporate Law Evolution

Lucian Bebchuk and Assaf Hamdani

8702: Are There Differential Effects of Price and Policy on College Students' Drinking Intensity?

Jenny Williams, Frank Chaloupka and Henry Wechsler

8701: Network Effects, Congestion Externalities, and Air Traffic Delays: Or Why All Delays Are Not Evil

Christopher Mayer and Todd Sinai

8700: Asset Prices in the Measurement of Inflation

Michael F. Bryan, Stephen Cecchetti and Roisin O'Sullivan

8699: Mental Illness and the Demand for Alcohol, Cocaine and Cigarettes

Henry Saffer and Dhaval Dave

8698: Dividend Policy inside the Firm

Mihir A. Desai, C. Fritz Foley and James R. Hines

8697: Is More Information Better? The Effects of 'Report Cards' on Health Care Providers

David Dranove, Daniel Kessler, Mark McClellan and Mark Satterthwaite

8696: Cities and Warfare: The Impact of Terrorism on Urban Form

Edward Glaeser and Jesse M. Shapiro

8695: The Epidemiology of Macroeconomic Expectations

Christopher Carroll

8694: Throwing Good Money After Bad? Board Connections and Conflicts in Bank Lending

Randall S. Kroszner and Philip E. Strahan

8693: Political Competition with Campaign Contributions and Informative Advertising

Stephen Coate

8692: The Welfare Cost of Autarky: Evidence from the Jeffersonian Trade Embargo, 1807-1809

Douglas Irwin

8691: The Impact of Tobacco Control Program Expenditures on Aggregate Cigarette Sales: 1981-1998

Matthew C. Farrelly, Terry F. Pechacek and Frank Chaloupka

8690: A Note on Inflation Persistence

Steinar Holden and John Driscoll

8689: The Optimal Tax on Antebellum U.S. Cotton Exports

Douglas Irwin

8688: Moral Rules and the Moral Sentiments: Toward a Theory of an Optimal Moral System

Louis Kaplow and Steven Shavell

8687: Household Electricity Demand, Revisited

Peter C. Reiss and Matthew W. White

8686: Equity Portfolio Diversification

William Goetzmann and Alok Kumar

8685: Economic Growth and the Demographic Transition

David Bloom, David Canning and Jaypee Sevilla

8684: Monetary Policy, Interest Rate Rules, and Inflation Targeting: Some Basic Equivalences

Carlos Vegh

8683: Model Uncertainty and Liquidity

Bryan Routledge and Stanley Zin

8682: An Evaluation of Multi-Factor CIR Models Using LIBOR, Swap Rates, and Cap and Swaption Prices

Ravi Jagannathan, Andrew Kaplin and Steve Guoqiang Sun

8681: The Advantage of Transparent Instruments of Monetary Policy

Andrew Atkeson and Patrick Kehoe

8680: Corporate Governance and the Home Bias

Lee Pinkowitz, Rene M. Stulz and Rohan Williamson

8679: Competition and Intervention in Sovereign Debt Markets

Bernhard Paasche and Stanley Zin

8678: Expectations of Equity Risk Premia, Volatility and Asymmetry from a Corporate Finance Perspective

John R. Graham and Campbell R. Harvey

8677: The Effect of New Drugs on Mortality from Rare Diseases and HIV

Frank Lichtenberg

8676: The Transition to a New Economy After the Second Industrial Revolution

Andrew Atkeson and Patrick Kehoe

8675: Specialization and the Volume of Trade: Do the Data Obey the Laws?

James Harrigan

8674: Monetary Policy in the Information Economy

Michael Woodford

8673: Imperfect Common Knowledge and the Effects of Monetary Policy

Michael Woodford

8672: Consumer Response to Tax Rebates

Matthew D. Shapiro and Joel Slemrod

8671: Dollarization, Inflation and Growth

Sebastian Edwards and I. Igal Magendzo

8670: The Supplemental Security Income Program and Incentives to Take Up Social Security Early Retirement: Empirical Evidence from Matched SIPP and Social

Elizabeth Powers and David Neumark

8669: Risk Taking, Limited Liability and the Competition of Bank Regulators

Hans-Werner Sinn

8668: Consumer Information and Price Discrimination: Does the Internet Affect the Pricing of New Cars to Women and Minorities?

Fiona Scott Morton, Florian Zettelmeyer and Jorge Silva-Risso

8667: Cowboys or Cowards: Why are Internet Car Prices Lower?

Florian Zettelmeyer, Fiona Scott Morton and Jorge Silva-Risso

8666: Risk, Mispricing, and Asset Allocation: Conditioning on Dividend Yield

Jay Shanken and Ane Tamayo

8665: Foreign Direct Investment and the Operations of Multinational Firms: Concepts, History, and Data

Robert Lipsey

8664: Selection and Oversight in the Public Sector, With the Los Angeles Police Department as an Example

Canice Prendergast

8663: Attrition Bias in Economic Relationships Estimated with Matched CPS Files

David Neumark and Daiji Kawaguchi

8662: Puzzles Over International Taxation of Cross Border Flows of Capital Income

John Whalley

8661: Executive Compensation in America: Optimal Contracting or Extraction of Rents?

Lucian Bebchuk, Jesse M. Fried and David I. Walker

8660: Protective or Counter-Productive? European Labor Market Institutions and the Effect of Immigrants on EU Natives

Joshua Angrist and Adriana Kugler

8659: Why International Equity Inflows to Emerging Markets are Inefficient and Small Relative to International Debt Flows

Assaf Razin, Efraim Sadka and Chi-Wa Yuen

8658: The Retirement Incentive Effects of Canada's Income Security Programs

Michael Baker, Jonathan Gruber and Kevin Milligan

8657: Taxes and Health Insurance

Jonathan Gruber

8656: Enforcing Intellectual Property Rights

Jean Lanjouw and Mark Schankerman

8655: Defined Contribution Pensions: Plan Rules, Participant Decisions, and the Path of Least Resistance

James Choi, David Laibson, Brigitte Madrian and Andrew Metrick

8654: The Mysterious Growing Value of S&P 500 Membership

Randall Morck and Fan Yang

8653: Copycat Funds: Information Disclosure Regulation and the Returns to Active Management in the Mutual Fund Industry

Mary Margaret Myers, James Poterba and Douglas A. Shackelford

8652: The Optimal Concentration of Creditors

Arturo Bris and Ivo Welch

8651: For Better or For Worse: Default Effects and 401(k) Savings Behavior

James Choi, David Laibson, Brigitte Madrian and Andrew Metrick

8650: The Rise of the Regulatory State

Edward Glaeser and Andrei Shleifer

8649: On the Invariance of the Rate of Return to Convex Adjustment Costs

Andrew Abel

8648: Airbus versus Boeing Revisited: International Competition in the Aircraft Market

Douglas Irwin and Nina Pavcnik

8647: What Does the European Union Do?

Alberto Alesina, Ignazio Angeloni and Ludger Schuknecht

8646: Institutional Rules for Federations

Alberto Alesina, Ignazio Angeloni and Federico Etro

8645: The Political Economy of International Unions

Alberto Alesina, Ignazio Angeloni and Federico Etro

8644: To Be or Not To Be Innovative: An Exercise in Measurement

Jacques Mairesse and Pierre Mohnen

8643: Downside Risk and the Momentum Effect

Andrew Ang, Joseph Chen and Yuhang Xing

8642: Efficiency in Marriage

Shelly Lundberg and Robert Pollak

8641: The Modigliani and Miller Theorem and Market Efficiency

Sheridan Titman

8640: Labor Market Effects of Population Aging

Axel Boersch-Supan

8639: Pardons, Executions and Homicide

Naci Mocan and R. Gittings

8638: The Response to Fines and Probability of Detection in a Series of Experiments

Avner Bar-ilan and Bruce Sacerdote

8637: The Factor Content of Trade

Donald Davis and David Weinstein

8636: The Curse of Non-Investment Grade Countries

Roberto Rigobon

8635: On the Invariance of the Rate of Return to Convex Adjustment Costs

Andrew Abel

8634: The Role of Industrial Country Policies in Emerging Market Crises

Jeffrey Frankel and Nouriel Roubini

8633: Takeover bids vs. Proxy Fights in Contests for Corporate Control

Lucian Bebchuk and Oliver Hart

8632: Payer Type and the Returns to Bypass Surgery: Evidence from Hospital Entry Behavior

Michael Chernew, Gautam Gowrisankaran and A. Mark Fendrick

8631: The Merits of Horizontal versus Vertical FDI in the Presence of Uncertainty

Joshua Aizenman and Nancy Marion

8630: DotCom Mania: The Rise and Fall of Internet Stock Prices

Eli Ofek and Matthew Richardson

8629: Market Entry Costs, Producer Heterogeneity, and Export Dynamics

Sanghamitra Das, Mark Roberts and James Tybout

8628: Area Differences in Utilization of Medical Care and Mortality Among U.S. Elderly

Victor Fuchs, Mark McClellan and Jonathan Skinner

8627: Cowards and Heroes: Group Loyalty in the American Civil War

Dora Costa and Matthew Kahn

8626: Estimation of a Dynamic Auction Game

Mireia Jofre-Bonet and Martin Pesendorfer

8625: Redistribution in the Current U.S. Social Security System

Jeffrey Liebman

8624: Intermedia Substitutability and Market Demand by National Advertisers

Alvin J. Silk, Lisa R. Klein and Ernst R. Berndt

8623: Taxes, Regulations, and Asset Prices

Ellen McGrattan and Edward Prescott

8622: The Stock Market Crash of 1929: Irving Fisher Was Right!

Ellen McGrattan and Edward Prescott

8621: Hospitals, Managed Care, and the Charity Caseload in California

Janet Currie and John Fahr

8620: Trading Inefficiencies in California's Electricity Markets

Severin Borenstein, James Bushnell, Christopher Knittel and Catherine Wolfram

8619: Transferability of Migration Licenses and the Distribution of Potential Rents

Laura L. Bivins and Kala Krishna

8618: Short Sales, Damages and Class Certification in 10b-5 Actions

Robert C. Apfel, John E. Parsons, G. William Schwert and Geoffrey S. Stewart

8617: The Transmission Mechanism and the Role of Asset Prices in Monetary Policy

Frederic Mishkin

8616: Unraveling Reduces the Scope of an Entry Level Labor Market: Gastroenterology With and Without a Centralized Match

Muriel Niederle and Alvin Roth

8615: Women as Policy Makers: Evidence from a India-Wide Randomized Policy Experiment

Raghabendra Chattopadhyay and Esther Duflo

8614: Sticky Information: A Model of Monetary Nonneutrality and Structural Slumps

N. Gregory Mankiw and Ricardo Reis

8613: Public Ownership in the American City

Edward Glaeser

8612: Long-Term Global Market Correlations

William Goetzmann, Lingfeng Li and K. Rouwenhorst

8611: Globalization and Inequality: Evidence from Within China

Shang-Jin Wei and Yi Wu

8610: The Transition to Personal Accounts and Increasing Retirement Wealth: Macro and Micro Evidence

James Poterba, Steven Venti and David Wise