NBER Working Papers

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8925: Inflation Targeting: Should It Be Modeled as an Instrument Rule or a Targeting Rule?

Lars Svensson

8924: Social Security Privatization Reform and Labor Markets: The Case of Chile

Sebastian Edwards and Alejandra Cox Edwards

8923: Does Local Financial Development Matter?

Luigi Guiso, Paola Sapienza and Luigi Zingales

8922: Risk Reduction in Large Portfolios: Why Imposing the Wrong Constraints Helps

Ravi Jagannathan and Tongshu Ma

8921: The Governance of Not-For-Profit Firms

Edward Glaeser

8920: Wealth Accumulation and the Propensity to Plan

John Ameriks, Andrew Caplin and John Leahy

8919: Stochastic Technical Progress, Nearly Smooth Trends and Distinct Business Cycles

Julio Rotemberg

8918: Remedial Education and Student Achievement: A Regression-Discontinuity Analysis

Brian A. Jacob and Lars Lefgren

8917: Minimum Standards and Insurance Regulation: Evidence from the Medigap Market

Amy Finkelstein

8916: The Impact of Teacher Training on Student Achievement: Quasi-Experimental Evidence from School Reform Efforts in Chicago

Brian A. Jacob and Lars Lefgren

8915: The Rising (and then Declining) Significance of Gender

Claudia Goldin

8914: Is Foreign Exchange Intervention Effective?: The Japanese Experiences in the 1990s

Takatoshi Ito

8913: The Property Tax as a Tax on Value: Deadweight Loss

Richard Arnott and Petia Petrova

8912: Expectation Traps and Monetary Policy

Stefania Albanesi, Varadarajan Chari and Lawrence Christiano

8911: Social Security and Elderly Living Arrangements

Gary V. Engelhardt, Jonathan Gruber and Cynthia D. Perry

8910: Employment Relationships in the New Economy

David Neumark and Deborah Reed

8909: On the Timeliness of Tax Reform

James Hines

8908: Capital Account Liberalization: Allocative Efficiency or Animal Spirits?

Anusha Chari and Peter Henry

8907: Physician Income Prediction Errors: Sources and Implications for Behavior

Sean Nicholson and Nicholas Souleles

8906: Junior Must Pay: Pricing the Implicit Put in Privatizing Social Security

George Constantinides, John B. Donaldson and Rajnish Mehra

8905: Monetary Policy and Exchange Rate Volatility in a Small Open Economy

Jordi Galí and Tommaso Monacelli

8904: The Disturbing "Rise" of Global Income Inequality

Xavier Sala-i-Martin

8903: Can the New Deal's Three R's Be Rehabilitated? A Program-by-Program, County-by-County Analysis

Price Fishback, Shawn Kantor and John Joseph Wallis

8902: The Welfare of Children During the Great Depression

Price Fishback, Michael Haines and Shawn Kantor

8901: Cap and Trade Policies in the Presence of Monopoly and Distortionary Taxation

Don Fullerton and Gilbert Metcalf

8900: Financial Opening: Evidence and Policy Options

Joshua Aizenman

8899: HMO Penetration, Ownership Status, and the Rise of Hospital Advertising

Jason R. Barro and Michael Chu

8898: Teacher Quality and the Future of America

Peter Temin

8897: Geography, Economic Policy, and Regional Development in China

Sylvie Démurger, Jeffrey D. Sachs, Wing Woo, Shuming Bao, Gene Chang and Andrew Mellinger

8896: Limited Asset Market Participation and the Elasticity of Intertemporal Substitution

Annette Vissing-Jorgensen

8895: Comovement

Nicholas Barberis, Andrei Shleifer and Jeffrey Wurgler

8894: Exports and Manufacturing Productivity in East Asia: A Comparative Analysis with Firm-Level Data

Mary Hallward-Driemeier, Giuseppe Iarossi and Kenneth Sokoloff

8893: The Policy Context and Infant and Toddler Care in the Welfare Reform Era

Ann Witte, Magaly Queralt, Robert Witt and Harriet Griesinger

8892: Policy-Driven Productivity in Chile and Mexico in the 1980s and 1990s

Raphael Bergoeing, Patrick Kehoe, Timothy Kehoe and Raimundo Soto

8891: Strengthening Employment-Based Pensions in Japan

Robert L. Clark and Olivia Mitchell

8890: Courts: the Lex Mundi Project

Simeon Djankov, Rafael La Porta, Florencio Lopez- de-Silane and Andrei Shleifer

8889: Comparative Advantage, Learning, and Sectoral Wage Determination

Robert Gibbons, Lawrence Katz, Thomas Lemieux and Daniel Parent

8888: Moving to Greener Pastures? Multinationals and the Pollution Haven Hypothesis

Gunnar Eskeland and Ann Harrison

8887: Global Capital Flows and Financing Constraints

Ann Harrison, Inessa Love and Margaret McMillan

8886: Take-Up Rates and Trade Offs After the Age of Entitlement: Some Thoughts and Empirical Evidence for Child Care Subsidies

Ann Dryden Witte and Magaly Queralt

8885: The Role of Information and Social Interactions in Retirement Plan Decisions: Evidence from a Randomized Experiment

Esther Duflo and Emmanuel Saez

8884: Towards an Explanation of Household Portfolio Choice Heterogeneity: Nonfinancial Income and Participation Cost Structures

Annette Vissing-Jorgensen

8883: Middlemen versus Market Makers: A Theory of Competitive Exchange

John Rust and George Hall

8882: The Non-Optimality of Proposed Monetary Policy Rules Under Timeless-Perspective Commitment

Christian Jensen and Bennett McCallum

8881: The Impact of Trade on Intra-Industry Reallocations and Aggregate Industry Productivity

Marc Melitz

8880: Credit Frictions and 'Sudden Stops' in Small Open Economies: An Equilibrium Business Cycle Framework for Emerging Markets Crises

Cristina Arellano and Enrique Mendoza

8879: Dollarization and Trade

Michael Klein

8878: Why Did Employee Health Insurance Contributions Rise?

Jonathan Gruber and Robin McKnight

8877: Confronting Information Asymmetries: Evidence from Real Estate Markets

Mark J. Garmaise and Tobias J. Moskowitz

8876: The Returns to Entrepreneurial Investment: A Private Equity Premium Puzzle?

Tobias J. Moskowitz and Annette Vissing-Jorgensen

8875: Economic Considerations and Class Size

Alan Krueger

8874: Informal Financial Networks: Theory and Evidence

Mark J. Garmaise and Tobias J. Moskowitz

8873: School Choice and School Productivity (or Could School Choice be a Tide that Lifts All Boats?)

Caroline Hoxby

8872: Do Cigarette Taxes Make Smokers Happier?

Jonathan Gruber and Sendhil Mullainathan

8871: Interdependent Security: The Case of Identical Agents

Howard Kunreuther and Geoffrey Heal

8870: A Simple Framework for International Monetary Policy Analysis

Richard Clarida, Jordi Galí and Mark Gertler

8869: Competition in or for the Field: Which is Better?

Eduardo Engel, Ronald Fischer and Alexander Galetovic

8868: The Role of Residual Claims and Self-Enforcement in Franchise Contracting

Francine Lafontaine and Emmanuel Raynaud

8867: Stochastic Dominance Bounds on Derivative Prices in a Multiperiod Economy with Proportional Transaction Costs

George Constantinides and Stylianos Perrakis

8866: The Corporate Profit Base, Tax Sheltering Activity, and the Changing Nature of Employee Compensation

Mihir A. Desai

8865: The Costs of Price Stability - Downward Nominal Wage Rigidity in Europe

Steinar Holden

8864: Can Subsidiaries of Foreign Banks Contribute to the Stability of the Forex Market in Emerging Economies? A Look at Some Evidence from the Mexican

Alejandro Reynoso

8863: The Red Queen and the Hard Reds: Productivity Growth in American Wheat, 1800-1940

Alan Olmstead and Paul Rhode

8862: Technology, Agglomeration, and Regional Competition for Investment

Bruce Blonigen and Kolpin Van

8861: Collective Bargaining and Staff Salaries in American Colleges and Universities

Daniel B. Klaff and Ronald Ehrenberg

8860: Gallman's Annual Output Series for the United States, 1834-1909

Paul Rhode

8859: Contracting in the Absence of Specific Investments and Moral Hazard: Understanding Carrier-Driver Relations in U.S. Trucking

Francine Lafontaine and Scott Masten

8858: Exchange Rate Pass-Through, Exchange Rate Volatility, and Exchange Rate Disconnect

Michael Devereux and Charles Engel

8857: The Reconstruction of the American Urban Landscape in the Twentieth Century

Sukkoo Kim

8856: Who Panics During Panics? Evidence from a Nineteenth Century Savings Bank

Cormac Ó Gráda and Eugene White

8855: The Cost of Accountability

Caroline Hoxby

8854: International Taxation

Roger Gordon and James Hines

8853: One Reason Countries Pay their Debts: Renegotiation and International Trade

Andrew Rose

8852: Property Rights and Finance

Simon Johnson, John McMillan and Christopher Woodruff

8851: Ricardian Equivalence with Incomplete Household Risk Sharing

Shinichi Nishiyama and Kent Smetters

8850: Markups, Gaps, and the Welfare Costs of Business Fluctuations

Jordi Galí, Mark Gertler and David Lopez-Salido

8849: Industry Dynamics with Adjustment Costs

Robert Hall

8848: Related Lending

Rafael La Porta, Florencio Lopez- de-Silane and Guillermo Zamarripa

8847: Imperfect Contract Enforcement

James Anderson and Leslie Young

8846: Globalization and Capital Markets

Maurice Obstfeld and Alan Taylor

8845: Subsidizing the Stork: New Evidence on Tax Incentives and Fertility

Kevin Milligan

8844: The Impact of Lending, Borrowing, and Anti-Smoking Policies on Cigarette Consumption by Teens

Brett Katzman, Sara Markowitz and Kerry Anne McGeary

8843: The Measure of Man and Older Age Mortality: Evidence from the Gould Sample

Dora Costa

8842: Testing Trade Theory in Ohlin's Time

Antoni Estevadeordal and Alan Taylor

8841: How Much Should We Trust Differences-in-Differences Estimates?

Marianne Bertrand, Esther Duflo and Sendhil Mullainathan

8840: Removing the Veil of Ignorance in Assessing the Distributional Impacts of Social Policies

Pedro Carneiro, Karsten T. Hansen and James Heckman

8839: The Fed and Interest Rates: A High-Frequency Identification

John Cochrane and Monika Piazzesi

8838: Dollarization: Analytical Issues

Roberto Chang and Andres Velasco

8837: Economic and Financial Crises in Emerging Market Economies: Overview of Prevention and Management

Martin Feldstein

8836: Exploring the Racial Gap in Infant Mortality Rates, 1920-1970

William Collins and Melissa Thomasson

8835: The Impact of Zoning on Housing Affordability

Edward Glaeser and Joseph Gyourko

8834: Do Bilateral Tax Treaties Promote Foreign Direct Investment?

Bruce Blonigen and Ronald Davies

8833: Direct or Indirect Tax Instruments for Redistribution: Short-run versus Long-run

Emmanuel Saez

8832: Cross-Country Inequality Trends

Daron Acemoglu

8831: Economic Backwardness in Political Perspective

Daron Acemoglu and James Robinson

8830: Was Jackson Pollock the Greatest Modern American Painter? A Quantitative Investigation

David Galenson

8829: Tax Incidence

Don Fullerton and Gilbert Metcalf

8828: Global Transmission of Interest Rates: Monetary Independence and Currency Regime

Jeffrey Frankel, Sergio Schmukler and Luis Servén

8827: Trade Openness and Investment Instability

Assaf Razin, Efraim Sadka and Tarek Coury

8826: Rational Asset Prices

George Constantinides