NBER Working Papers

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8680: Corporate Governance and the Home Bias

Lee Pinkowitz, René 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 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 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 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. 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

8609: Risk Aversion and Optimal Portfolio Policies in Partial and General Equilibrium Economies

Leonid Kogan and Raman Uppal

8608: Aging and Housing Equity: Another Look

Steven Venti and David Wise

8607: Catching Up with the Joneses: Heterogeneous Preferences and the Dynamics of Asset Prices

Yeung Lewis Chan and Leonid Kogan

8606: Comparing Wealth Effects: The Stock Market Versus the Housing Market

Karl Case, Robert Shiller and John Quigley

8605: The Effect of Education on Crime: Evidence from Prison Inmates, Arrests, and Self-Reports

Lance Lochner and Enrico Moretti

8604: Optimal Monetary Policy in Closed versus Open Economies: An Integrated Approach

Richard Clarida, Jordi Galí and Mark Gertler

8603: The Empirics of Monetary Policy Rules in Open Economies

Richard Clarida

8602: Living Rationally Under the Volcano? An Empirical Analysis of Heavy Drinking and Smoking

Peter Arcidiacono, Holger Sieg and Frank Sloan

8601: The Out-of-Sample Success of Term Structure Models as Exchange Rate Predictors: A Step Beyond

Richard Clarida, Lucio Sarno, Mark Taylor and Giorgio Valente

8600: Trade Linkages and Output-Multiplier Effects: A Structural VAR Approach with a Focus on Asia

Tilak Abeysinghe and Kristin Forbes

8599: Why Public Schools Lose Teachers

Eric Hanushek, John Kain and Steven Rivkin

8598: Urban Decline and Durable Housing

Edward Glaeser and Joseph Gyourko

8597: Liquidity Effects in the Bond Market

Boyan Jovanovic and Peter Rousseau

8596: Technology in the Great Divergence

Gregory Clark and Robert Feenstra

8595: The Changing Role of America's Veterans

Hugh Rockoff

8594: Event-Study Evidence of the Value of Relaxing Longstanding Regulatory Restraints on Banks, 1970-2000

Kenneth A. Carow and Edward Kane

8593: Pollution Control Innovations and the Clean Air Act of 1990

David Popp

8592: Potential Paths of Social Security Reform

Martin Feldstein and Andrew Samwick

8591: Labor Market Search and Optimal Retirement Policy

Joydeep Bhattacharya, Casey Mulligan and Robert Reed

8590: The Empirical Frequency of a Pivotal Vote

Casey Mulligan and Charles G. Hunter

8589: Learning and the Value of Information: Evidence From Health Plan Report Cards

Michael Chernew, Gautam Gowrisankaran and Dennis P. Scanlon

8588: Redistribution through Education and Other Transfer Mechanisms

Eric Hanushek, Charles Leung and Kuzey Yilmaz

8587: The Effect of Health on Economic Growth: Theory and Evidence

David Bloom, David Canning and J.P. Sevilla

8586: Biases in the IPO Pricing Process

Michelle Lowry and G. Schwert

8585: International Spillovers and Water Quality in Rivers: Do Countries Free Ride?

Hilary Sigman

8584: Core, Periphery, Exchange Rate Regimes, and Globalization

Michael Bordo and Marc Flandreau

8583: Aggregate Price Shocks and Financial Stability: The United Kingdom 1796-1999

Michael Bordo, Michael Dueker and David Wheelock

8582: Bond Market Inflation Expectations in Industrial Countries: Historical Comparisons

Michael Bordo and William G. Dewald

8581: Affiliate Activity in Japanese and U.S. Multinationals and Japanese Exports, 1986-1995

Robert Lipsey and Eric Ramstetter